PPI Claims - Frequently Asked Questions

1. Who are MoneyHealthCheck.co.uk?

MoneyHealthCheck.co.uk specialises in financial services complaints. Our team of specialists will handle your claim as quickly and efficiently as possible using the latest technology and industry knowledge.

2. Can MoneyHealthCheck.co.uk help?

We can assist you with your claim because we have the required understanding of the regulations, we know the processes involved and are aware of the appropriate levels of compensation and/or refunds. We know how to deal with financial regulators and institutions, we can help to minimise the problems that may occur with these types of claims and make it less stressful for you to claim.

If you have already made a claim on your own which has been rejected, don’t give up. Provided you contact us within six months of your claim being rejected, we may still be able to help

3. What does our PPI Claim service include?

It’s simple – we provide a professional and expert service on the following basis:

• We analyse your case and if we believe you have been PPI Claims, our professional claims handlers will make a claim on your behalf.
• We are here to assist with your case from start to finish.
• Once you receive an offer, we will examine the terms to ensure you receive the maximum amount possible in accordance with the regulations, although you can decide to accept a lower amount if you wish.
• We only deal with financial services claims.

In the unlikely event that your initial claim is unsuccessful, we may take your case to the Financial Ombudsman Service and fight for a positive outcome.

Insurance companies, financial advisors and lenders had to comply with a set of complicated rules designed to protect investors. In many cases it has been found that these rules were not followed. Some companies have now been left open to claims of miss-selling.

Of course we understand that it may be difficult for a member of the general public to know whether these rules have been followed or not. You may be unhappy with your product or service but are unsure whether regulations were adhered to when you was sold a product. That’s where we can help. We are familiar with the regulations and the rules covering the sale of financial products and will quickly be able to assess whether these rules and regulations were met when your product or service was sold.

It is probable that our professional appraisal will identify areas where the advice failed to comply with the rules. Once these deficiencies are identified, we can make a claim on your behalf.

4. How do I begin the claims process?

To start your claims process couldn't be easier. All you have to do is fill out one of our questionnaires or call our Advice Hotline on MoneyHealthCheck.co.uk

5. What happens once I have contacted MoneyHealthCheck.co.uk

Once we have received your initial enquiry we will send you the relevant information pack and forms. You should complete and return these to us immediately so that we can contact your advisor and inform them that we will be making a claim on your behalf.
When we have received your forms we will analyse your case; we may ask you for further details or clarification of certain points should we require it. Once we are satisfied we have all of the relevant information and paperwork our claims handlers will construct a letter of complaint on your behalf.

We will then keep you informed of the progress of the complaint.

6. How will I know if I have been offered enough compensation?

Once your claim has been processed we should receive either an offer of compensation or a refund or a letter of rejection.

When we receive an offer of compensation or a refund, we will check it thoroughly to ensure it is correct. Many cases at this stage need to re-negotiated as these offers as they are generally found to be too low. Although this takes extra time, it is certainly worthwhile.

When a compensation offer which has been correctly calculated has been made, we will write to you with the recommendation that you accept the offer.

In some circumstances a company will make an offer to resolve the complaint which may be lower than the amount we originally requested. We will inform you any such offers as soon as they are received. You may, at this stage, decide to accept the offer and our fee will be based on the amount you have accepted. However if you wish to continue with the complaint to obtain a higher amount we will continue to fight on your behalf. At no stage will we accept any offer without your full written consent and agreement. We will however have a good understanding of what could actually be claimed and we will be able to advise you.

Once you accept an offer, your confirmation will be sent to the company dealing with your complaint with a request for payment to be made directly to us. If payment is made directly to us, we then deduct our fee and forward the balance to you, normally within 3 working days. However, some companies ignore this request and will send the payment direct to you. In these cases our fee has not been deducted and we would ask for payment to be made within the same 3 working days.

7. What if my claim is rejected?

Should your claim be rejected by the company investigating your claim the decision will be thoroughly analysed, any supporting documents will be examined and any evidence they are using may then be referred to the Financial Ombudsman Service. When a case is referred to the Financial Ombudsman Service it will unfortunately take more time to complete but the outcome could be the one you had hoped for.

8. How long does the whole process take?

The Financial Services Authority states that complaints should be completed within eight weeks. However, in some cases these deadlines cannot be met. We can chase the Company dealing with your complaint regularly on your behalf this will ensure that your claim is dealt with as quickly as possible.

Therefore as you can probably understand, it is extremely difficult to say how long it will take before you know if your claim is successful. Should your claim be rejected and referral to the Financial Ombudsman Service for adjudication is necessary, then you should be prepared for it to take longer. Should your claim need to proceed to the small claims court it will take much longer to conclude.

9. Is it possible to make a claim on my own?

Yes, of course it is, but you must ensure the claim is made within the regulators guidelines and is covered by the relevant regulations or points of law. Should your claim be rejected or you are not happy with the decision made you can take your claim onto the Financial Ombudsman Service who will adjudicate on your behalf.

10. Is MoneyHealthCheck.co.uk regulated and if so by who?

Companies that offer Claims Management advice must be regulated to conduct claims management activities under the Compensation Act 2006.

MoneyHealthCheck.co.uk is fully regulated and authorised to conduct claims management activities by the Ministry of Justice under authorisation number CRM10564.

MoneyHealthCheck.co.uk also holds a Data Protection Act licence under license number Z709687X, which can be checked with the Information Commissioners Office.

11. Will my very personal and sensitive information be kept safe, what safeguards have you in place to ensure my documentation is kept safe?

Under the Data Protection Act we have a duty to ensure your personal details are kept safe at all times. Any documentation that includes details of bank accounts or credit cards are kept safe. At the end of the claim any statements or documentation that detail sensitive information is kept in a locked cabinet before shredding. We ensure all sensitive information and documents are shredded and destroyed on our premises and at no stage leave our premises in a manner in which they can be used for anything other than recycling.