Archive for the ‘Claims’ category

PPI Claims-What You Should Do

October 13, 2010

If you have been miss-sold a PPI then you are not alone. Thousands of us in the UK are in a similar situation and what a lot of people don’t know is that if you have got a loan, credit or store card in the last six years, you may be able to reclaim £1,000s.

The miss-selling of expensive Payment Protection Insurance (PPI) is particularly common alongside the outlined financial products.

However, what we are seeing at the moment is banks such as Lloyds, Halifax and Bank of Scotland putting all their customers PPI claims on hold and going against the regulations of the Financial Services Authority which states that all such claims must be reviewed and responded to. If the Financial Services Authority get their way, such banks will need to pay out as much as £2 billion in order to pay back all customers who have been miss-sold a policy.

So what can you do if you are a victim of unfair charges?

The bottom line in PPI reclaiming is to be as persistent as possible. What you will find is that a lot of banks put customers off by putting their claims on hold. This acts as a deterrent for the majority of people following through with their claims unfortunately.

If you are resilient then it is highly likely your claim will be processed, however the news that many banks are going against official regulations makes the reclaiming process seem even harder. Persistence and thoroughness are the key words though.

Would You Make a Claim?

September 9, 2010

Would you make a claim against your employer if you had an accident in the workplace that wasn’t your fault?

In Britain and many other countries (the US, Australia to name a couple) consumers are more confident than ever when it comes to their rights.  OK, so they may not be as happy to splash their cash on the high street just yet but when it comes to claiming compensation and their rights it seems that everyone is now an expert.

Critics argue that this culture of claiming is verging on an aggressive attack on many sectors and businesses that otherwise provide excellent services.

However, others weigh up that ordinary people do have rights and if they have suffered as a result of negligence on the part of someone else, they are entitled to their compensation.  There are claims services for every purpose today – from standard injury claims to more complex clinical negligence claims.

Get Proper Debt Advice

August 19, 2010

You may have been hit with rising debts and more money worries – unemployment figures are still increasing on a daily basis.  As those figures have increased, so have those of people seeking debt management advice.

But today it has emerged that the Office of Fair Trading is to close down a total of 27 websites who, according to them, are deliberately misleading consumers.  The websites have been accused of using names very similar to free agencies in a bid to give people an impression of a non-profit-making service.

The OFT are urging consumers to be vigilant and thorough when looking for debt advice.  Companies and websites are allowed to charge for their service, but must be in possession of a consumer credit license.  You can check if a company has this by looking at their Terms and Conditions – they may try to be vague in the main pages of the site but are required to put all information with the Terms and Conditions.  They must also adhere with OFT guidelines.

So make sure you shop around and do your homework before taking advice…

Sarkozy – Public Display of Support for Greece

March 8, 2010

Greece got a boost from French President Nicolas Sarkozy yesterday, after talks between himself and Greek Prime Minster George Papandreou.

So far, EU leaders have been less than enthusiastic about helping Greece in a big bailout package.  Luckily for them, the country does not (so far) need a package, having already announced austerity measures to tackle the massive 12.7% deficit problem.

Mr Sarkozy attacked speculators on the foreign exchange market and on the bonds market, for attacking the euro.  Indeed, in recent months the amount of positions against the euro reached record levels.  However, after the French President’s comments, the currency took a boost and rose against the US dollar.

Are speculators going too far, or are they right to avoid the single currency as Greece – and possibly other EU nations – struggle to tackle their major fiscal problems?

Trickier to Claim?

January 15, 2010

Look out if you’re thinking of claiming against your lender – it could become harder to do so thanks to the OFT…

Under new guidelines, it won’t be as easy to find loopholes for people wishing to make a write off on their debts to a lender.  Until now, there was a small window which some were able to use successfully: if the loan company was unable to produce an orginial agreement of the loan within a 12 day period, the loan would become unenforceable.

Now, thanks to a key case in Manchester, lenders will be able to produce a “true copy” in place of an original document as sufficient evidence.

If you’re thinking of taking a credit card or loan, always make sure you will be able to keep up with repayments – or consider the alternatives (anyone find prepaid card appealing?  It’s like credit but without the credit facility and the debt danger to go with it!).  That way you can save yourself the tricky process of claiming against lenders if the debt starts to pile up.