For over ten years, the payment protection insurance scandal has blighted the UK financial sector. Over £30 billion in compensation has been paid out to customers who were mis-sold PPI. www.canaryclaims.co.uk are ppi claims experts and they have helped thousands of people since 2007 to make PPI claims against the banks. Below are some common questions asked by people who would like to make a PPI Claim.
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 canaryclaims.co.uk
What happens once I have contacted canaryclaims.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. 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.
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.
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.
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.
