Time is running out!

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Time is running out, the PPI deadline is approaching fast! Don’t panic, it’s not too late to start your claim!

If you have ever taken out a loan in the past it is likely that you have also had to agree to take out PPI to ‘insure’ your payments in the event of unemployment or long term injury preventing you from working. In a lot of cases you were not given an option to refuse this as it was often proposed as a condition for being accepted for the loan! The banks offering the loan stood to make a lot of commission if you agreed so there was pressure to ensure that you, the customer agreed to it!

If you are unsure if you have had such a policy don’t worry, just contact our office on 01942 619911 and speak to one of our advisors. We can do all the research for you and it costs nothing to find out and you may be entitled to thousands of pounds in compensation!

Packaged Bank Accounts

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Have you been persuaded to purchase a packaged bank account that you didn’t want or need? If so you may be entitled to have your payments refunded.

Packaged bank accounts are current accounts that come with a “package” of extra features – from mobile phone and travel insurance, to better rates on overdrafts and loans. They might be called things like “reward”, “premium” or “gold” accounts – and there’s usually a monthly fee.

If you have a packaged bank account, you might be wondering if your bank mis-sold it to you and if you should complain. Everyone’s situation is different – but here are some questions to help you think it through.

First, think back to how you took out the account – and why you’re wondering whether it could be unfair. Did your bank give you a choice to have the packaged account or a free one? What features did the account offer, and could these have been useful for you at the time? Did the bank explain what you would get and how much it would cost?

In a lot of instances customers were pressured into agreeing to take the offered package with the promise of better loan or overdraft rates, and in some cases the customer didn’t know that they had opted for one or weren’t given an option.

You’re able to make a claim on any bank account that’s still active or has already been closed up to 6 years.

Have I been mis-sold a packed bank account? Below are some of the tactics used by banks to persuade their customers to sign up.

  • My bank told me by signing up to a packaged bank account it would improve my credit score.
  • I was told that if I signed up to a packaged bank account it would improve my chances of getting a mortgage.
  • My bank did not tell me that if I wanted to make a claim, my car or phone should have been registered beforehand and therefore I was not eligible to make a claim.
  • I did not qualify for the packaged travel insurance due to my age.
  • I tried to cancel my packaged bank account fees but I was advised or forced to keep it.
  • I was misled to believe that I was receiving an exclusive deal if I signed up for the packaged account or the costs were not fully explained to me.
  • The monthly fees increased without my knowledge or agreement.
  • Your normal bank account was upgraded to a packaged bank account without your knowledge.


If you are unsure if you have been mis-sold this type of account contact us today on 01925 619911 and speak to one of our advisors.


PPI – It’s not over!

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It is not over – the biggest consumer scandal continues to cost more and more for the banks.

Lloyds have revealed this morning that they are paying out another £750 million in compensation which doesn’t just push them into a loss, when their books are looking better, but takes just their bill for the mess to over £8 billion.

Barclays has earmarked an additional £700 million to meet payment protection insurance (PPI) compensation claims, the lender has announced. Extra funds will cover costs and refunds in the ongoing saga over the mis-selling of PPI.

These are not the only banks setting aside more money to cover the cost of increased PPI claims leading up to the deadline of the 29th of August 2019.

Have you checked if you have a claim yet? If not why not? It costs you nothing to find out if you are entitled to a refund of the money paid to the banks for PPI.

Contact CompiClaims today on 01942 619911 and speak to one of our advisors who will be pleased to advise you on how to proceed with a claim which could be worth thousands of pounds to you!

Don’t miss the boat!

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The banks are setting aside even more money for PPI compensation as it is expected that in the run up to the deadline on the 29th of August 2019 they will be inundated with new claims!

Have you checked to see if you could be entitled to compensation for the insurance taken out to protect your loan?

If you agreed to PPI were you advised of the level of commission the bank would receive? The average commission received by the banks was 67-76% and after 2 recent court rulings and you were not advised of the level of commission being paid you could claim back and payment over the threshold of 50% plus interest.

Time is running out, there is less than year in which to start a claim so contact us today on 01942 619911 and speak t one of our advisors who will be able to check if you can make a claim.

Even if you have had a claim rejected all is not lost as since the court rulings banks are obliged to take another look at your claim.

Mis-sold Pension?

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Duped savers could each pocket a £50,000 windfall due to their underperforming pension schemes as part of a mammoth SIPP scandal engulfing the UK. £10 billion worth of badly performing SIPPs  (Self Invested Personal Pensions) are believed to have been mis-sold to hundreds of thousands of people by unscrupulous financial advisors.

Potential victims are being urged to check if they can reclaim huge portions of their lost cash and the government has set up a special £120 million fund to compensate losers so far. A maximum £50,000 compensation sum is currently available from the large fund managed by The Financial Service Compensation Scheme and the figure is set to rise by 75 per cent to a £85,000 maximum in the next nine months as claims grow.

The Financial Ombudsman however are allowed to raise their compensation ceiling and can award up to a further maximum of £150,000 for many cases.

The SIPP scams involved unscrupulous Financial Advisors preying on savers who were promised massive returns of up to 20 per cent a year only for their savings to be squandered on get rich quick schemes including investing in airport parking, holiday properties and green energy projects.

The Financial Conduct Authority revealed one in eight savers think an advisor has mis-sold them a financial product such as a pension.

The regulator the Financial Conduct Authority (FCA) has begun conducting the Financial Lives Survey, where it speaks to thousands of people aged over 18 to find out more about their use of financial services. And the mis-selling of investments sadly featured quite prominently.

According to the survey, around one in eight people who have received financial advice in the last year claim that an adviser has mis-sold them an investment or pension product at some point.

The FCA itself noted that this is likely to be an underestimation, so in truth we are looking at hundreds of thousands of people who may have been duped into making questionable investments in their SIPP.

If you are concerned that you may have been mis-sold an investment, then don’t panic. It may be possible to pursue a compensation claim against the IFA involved in the investment or the provider of your SIPP.

Contact us today on 01942 619911 to speak to one of our advisors who will be able to establish if you have a claim. Don’t delay as there is a 6 year time limit on claims starting from the date that your pension was transferred.

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