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SCOTTISH PPI CLAIMS

Scotland Wide PPI Specialists

How to Claim PPI Compensation

03 July 2017

On Credit Card and Catalogues

PPI - payment protection insurance - was sold alongside many products including credit cards and catalogues.

On some products, the monthly PPI premium was fixed but on others, it was calculated as a percentage of the amount outstanding. And this is how it was calculated on credit cards and catalogues.

There are similarities between claiming PPI compensation on credit cards as there are on catalogues which is why we thought we would look at these two common products at the same time.

WHO repays PPI compensation?

If you had a loan with Barclays bank, the company who repays you PPI compensation is clear - it would be Barclays.

But with credit cards and catalogues, it can be slightly more complex. This is no reason not to claim PPI compensation because we can find which bank or mainstream lender backs the credit card or catalogue account.

In the first instance, take a look at all the paperwork for your credit card and catalogues accounts. In the very small print, you will see the name of the financial company.

You will also see their contact details. From this, you can contact the credit card company or your catalogue company to ask about how to make a claim for PPI compensation.

What if the company no longer exists?

Egg, for example, provided credit cards back in the 1990s but they disappeared after being bought or subsumed into another bank. In the case of Egg, it is Barclays bank who is now responsible for repaying PPI compensation.

We can easily find who bought which credit card and lodge your appeal for PPI compensation with them. Just give our expert team a call.

Catalogue companies also come and go, and are rebranded too. Don't worry as we find the right company to deal with your claim.

Black Horse Finance along with a financial company called Lombard backed many catalogue accounts as it was them who actually provided the credit for the accounts. These two financial companies are linked to Lloyds banking group and the NatWest banking group. Both are notorious within the field of PPI compensation for adding PPI to accounts without customer consent.

How much does it cost?

You can claim your own PPI compensation. You contact your bank, lender, catalogue company or credit card company, tell them you have PPI and you want your money back.

But this can be a time-consuming process especially if you have loans, credit cards and catalogue accounts with more than one company.

We offer our services on a no win, no fee basis - why not give us a call to find out more?


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