Claim Yourself – you can make a complaint that your PPI policy was mis-sold yourself. There is plenty of guidance available on the internet, including how to make a complaint for free. You can check if there are other ways to make a complaint for free, such as checking if your Home Insurance policy provides the service or membership of a Trade Union.
If you make a complaint yourself, and the complaint is rejected, you can refer the claim to the Financial Ombudsman Service. You must refer the complaint within 6 months of the date of the Final Decision Letter or it will be time-barred. The Financial Ombudsman Service is free to use. If the firm who sold the PPI is no longer trading you may be able to refer the complaint to The Financial Services Compensation Scheme, and this service is free.
Claims Management Company – you can employ a Claims Management Company to make a complaint that your PPI policy was mis-sold. PPI Advice Ltd is a Claims Management Company and we make a charge for our services.
Cost of our Services
Our charge is based on a ‘No Win – No Fee’ basis at 15% plus VAT of the net amount you receive. Clients living in the UK and within the European Union pay 15% plus VAT – a total of 18% of the refund. Clients living outside of the UK and European Union pay 15% of the net amount refunded and are not charged VAT.
We only charge a fee if you receive an actual payment from the lender or PPI policy seller. Our fee is based on the net amount of the refund and not on the gross amount of the refund.
If your compensation is used to reduce an outstanding debt, we only charge a fee based on the amount you receive, and we do not charge a fee for any refund money retained by the lender or PPI policy seller.
Examples of our Fee
We cannot forecast our fee. The examples shown below illustrate how variable our fee can be.
|Compensation||15% Fee||VAT||Total Fee|
Becoming A Client
To become a client, you complete a Terms and Conditions form, a Client Details Form and a Letter of Authority. We need a Letter of Authority form for each lender and credit type. We prepopulate these forms with your details so that you can sign them.
When we receive your forms, we confirm you have become a client and advise if we have any other requirements. We advise you have a right to change your mind and this applies to the first 14 days. You can cancel the agreement after the first 14 days without incurring any costs but once an offer of compensation is made in accordance with the FCA and FOS guidelines we reserve the right to charge our agreed fee for the work we have undertaken.
We will seek to establish if PPI was attached to your finances. We will issue Information Requests to your lenders and when we receive replies we will advise if PPI was attached to your finances. We do not manage claims to certain lenders, and we will advise you accordingly.
The Complaints Process – What We Do
Once you become a client, we will do the following: –
- check you have provided all the details we need at the outset, such as your past addresses, any previous names you have been known by and for certain lenders, request the account number
- write to your lenders to request details of any PPI policies attached to your past finances
- advise you of any PPI attached to your finances
- we will issue a Data Subject Access Request (DSAR) when we deem it appropriate
- we will seek relevant details contained within the DSAR report to assist in making a complaint
- we will issue a questionnaire for you to complete and sign, so that we can compile a complaint
- we will issue a complaint to the lender or PPI policy seller
- we will advise you of the outcome of the complaint
- if the complaint is upheld, we will advise you what the refund will be and check it has been calculated in accordance with the rules and regulations and seek a higher offer if the amount offered is too low
- if the complaint is defended, we will consider whether to challenge the decision. This can be a challenge to the lender, or we may refer the matter to the Financial Ombudsman Service, or we may decide to do issue a challenge to the lender and then refer the matter to the Financial Ombudsman Service. In some cases, we may believe the decision reached by the lender should be accepted by you
- once you receive your refund, we will issue an invoice in respect of our fee
- we will advise you at each point during the claims process by email, letter or telephone call
- we will confirm when the claims process has been completed and your file has been closed
- we will undertake to destroy your records in such a way to comply with Data Regulation requirements
- we do not pursue claims via the Civil Courts
The Complaints Process – What We Expect From You
- to provide us with all relevant information we request so that we can pursue your claim promptly
- to provide us with the authority to receive all information in order that we can enter into all negotiations and correspondence with the lender or policy seller on your behalf
- to respond to our requests for information in a timely manner so that we can progress a complaint
- to settle our fee within 14 days of you receiving the compensation payment. We reserve the right to take reasonable steps to recover our fee, including through the Claims Court and use of a Debt Collection agency and other services. Costs associated with fee recovery will be added to our standard fee and interest may be added at 8% per annum
- to be aware a PPI policy will be cancelled if compensation is paid and it is your responsibility to make alternative arrangements
Service Standards – Our Complaints Procedure
We strive to ensure that our clients have no cause for complaint in relation to the services we provide. In the unlikely event that you have a concern or wish to raise a complaint with regard to any service we have provided you may submit a formal complaint. This procedure sets out the process which should be followed.
- Complaints may be made in writing, by letter or e-mail or by telephone or in person, in respect of a claims management service that we have provided. In the first instance a complaint should be made to or addressed to:
Carl de Lima, PPI Advice Ltd, 11A Woodside Road, West Moors, Ferndown, United Kingdom BH22 0LY
Telephone number: 01202 855 257 Email: firstname.lastname@example.org
- We will send you a written or electronic acknowledgement of a complaint within five business days of receipt, identifying the person who will be handling the complaint for the business together with a copy of our complaint handling procedures. Wherever feasible that person will not have been directly involved in the matter which is the subject of the complaint and will have authority to settle the matter.
- Within eight weeks of receiving a complaint we will send you either:
(a) a final response which adequately addresses the complaint or
(b) a response which:
(i) explains why we are still not in a position to make a final response, giving reasons for the further delay and indicating when we expect to be able to provide a final response;
(ii) informs you that you may refer the handling of the complaint to the Financial Ombudsman Service if you are dissatisfied with the response, the timeframe for doing so and full contact details.
- Where we decide that redress is appropriate, we will provide you with fair compensation for any acts or omissions for which we are responsible and will comply with any offer of redress which you accept. Appropriate redress will not always involve financial redress.
- If you are not satisfied with our response, or if a complaint is not resolved after eight weeks, you may refer the complaint to:
Any complaint must be referred to the Financial Ombudsman Service within six months of our Final Decision Letter, or we may decline to allow the Financial Ombudsman Service to consider your complaint. The Financial Ombudsman Service will not have our permission to consider complaints received after six months, except in exceptional circumstances.
PPI Advice Ltd is registered in England and Wales: number 8762916.
VAT registration number 178 9075 55
Data Protection – ICO Registration: ZA028022
GDPR – General Data Protection Regulation 2018 – Details are available upon request
PPI Advice Ltd is authorised and regulated by the Financial Conduct Authority – FRN 833597