Credit Card Payment Protection Insurance refunds.
Credit card providers have been selling (sometimes applying by default) Credit Card Payment Protection Insurance to their Credit Cards for years. These Insurance policies were generally calculated as a percentage of the monthly outstanding balance. They were designed to meet the monthly minimum payments of the card if the card holder couldn’t make these payments due to being unable to work due to Unemployment, Accident or Sickness.
Unfortunately these policies were expensive, flawed and not always suitable for the card holders personal situation. These Policies were block patent cure all policies that never actually fitted the needs of individual customers.
Depending on how you obtained the credit card you may well have a very strong case for making a payment protection insurance refund. If you make a complaint and you are successful you will receive not only any premiums that you have made but also any associated compound interest and statutory interest at 8%.
We operate on a No Win No Fee Basis (See PPI Refunds for example of where charges may apply). This means that once your claim has been validated we will process your claim free of charge until we get a Final decision from the card provider. This can go one of two ways
1. The Credit Card provider upholds your claim. If this happens:-
1. We will check the amount of the refund and advise you if you should accept this or not.
2. You will receive an acceptance form from the Card provider that you will need to sign and return accepting the offer.
3. Once accepted the card provider will inform us of when they will make the refund to you.
4. Once you have been paid your refund we will invoice you for our fee which is 20% +VAT of the total refund amount.
2. The Credit Card provider does not uphold your claim. If this happens:-
1. We will check with the provider that this is their final response.
2. Once we are happy that it is their final response we will then send you the Financial Ombudsman’s Payment Protection Insurance Questionnaire and the application forms (partly pre-populated) to you for signing.
3. Once we receive these back from you we will then progress your claim through the Financial Ombudsman.
4. If your claim is upheld you will receive notification from us and you will then recieve a refund calculation and offer from the lender. We will liaise with you and advise whether you should accept this offer or not.
5. Once accepted you will receive your refund from the provider and we will then invoice you for our fee
which is 20% +VAT of the total refund amount.
3. If the FOS do not uphold your claim we can appeal and get them to re look at the case.
If at the end of the line there is no refund to be made there will be NO FEE due to us.
If you wish to start your claim just complete the form on the left hand side of the page or call us on 0161 495 3990
and we will gladly talk through your situation with you.