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How to claim for PPI compensation on your old store card

If you were talked into having a store card before 2001, there's a good chance you may have been mis-sold PPI. However, a lot of the claims for this particular cover where thrown out too quickly, which means you might be in-line for some compensation. Some banks ditched a lot of these claims without looking…

Wonga borrows £25m (wonder what the APR is on that?)

The FCA came down hard on payday loan companies, putting all manner of restrictions on them and issuing a number of fines and penalties. Wonga were hit hard, and tried a variety of things to try and soften their image. Things haven't been working out too well for the finance-company, and now, with irony that…

FCA to investigate life insurance firms

The Financial Conduct Authority has started an investigation into six life insurance firms, after they finished their report about how long-standing life insurance customers are being treated. In the words of acting CEO Tracey McDermott, it looks like "the practices at some firms appear to have been poor." Hardly the strongest of language, but it…

PPI claims firms pocket £5bn, for no reason

Even though you can make your PPI compensation claims yourself (here's how), it looks like claims firms have been cleaning up. The National Audit Office (NAO) have crunched the numbers, and they say that claims management companies have pocketed themselves £5bn from PPI compensation, which is nearly a quarter of the money coughed up so far. While…

Are you too old to get a mortgage?

We’re doing everything later these days. 50 is the new 40 they say, and in 2014, the average age for being a first time mother rose over 30 (30.2 years to be precise), as we all concentrate on doing other things first. But beware, if you leave things to late you might find yourself left…

Banks still stalling over PPI complaints

Even though the PPI nonsense is set to come to an end, it looks like our beloved financial institutions are still stalling when it comes to dealing with the swathe of customer complaints. This is according to the figures from the Financial Ombudsman, which show that complaint figures over mis-sold PPI are still high, even though…

Haggling comes to home insurance!

Everyone knows that merely mutely accepting your insurer’s renewal is a recipe for ever-increasing premiums, and surely the idea of shopping around, and using comparison sites to find cheaper premiums is now more acceptable even in the minds of the most stalwart of insurance users. Yet in December the FCA announced proposals for new requirements…

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PPI saga is coming to an end

PPI saga is coming to an end

This whole business with PPI nonsense is finally coming to an end, it seems. The banks of the UK are nearly out of the woods, with one last round of compensation and new restrictions on claims management companies on the horizon. One of the big things, even though it has taken an absolute age to come…

Mobile providers 'are worst debt collectors' in private sector

No-one has a nice time dealing with debt-collection agencies, but the worst of the lot according to Citizen's Advice - in the private sector at least - are those from mobile phone providers. The CA's 'Falling Behind' report stated that companies "sometimes play a significant role in people getting into mobile phone debt" after looking…

FCA aren't looking into banking culture anymore...

The Financial Conduct Authority (FCA) have decided that they're not going to bother with their inquiry into the culture, pay, and general behaviour of staff in banking. Everything concerning our banks is completely fine and we've all been worrying about nothing. Obviously. The watchdog were going to see if pay, promotions and incentives were a…

FCA tries to find an end to interminable PPI claims

We’ve all heard of PPI by now, and in fact it’s now one of thise things that just won’t go away- just ask anyone who is still plagued by automated phonecalls asking you to submit a claim. However, new proposals from the FCA could see a light at the end of the PPI tunnel, with…

Wonga to try out 90-day loans

Wonga - remember them? Well, they're peering out from a cloud of trouble, fines, restructuring costs, and a lot of bad press, and looking to win customers over again with some new products. They're going to start testing a 90-day loan, so people can spread costs out over longer periods, and the idea is that…

Firm fined for more than 1.3m spam texts

A claims company sent over 1.3 million spam texts to mobiles, which admittedly, is deeply irritating, but in its own way, rather impressive. Either way, they've been fined £80,000. This fine comes in a week when the Information Commissioners Office (ICO) are throwing fines at all sorts of spam-pests, totalling £250,000. The £80k was served to Birmingham-based UKMS…

FCA finds credit card market 'working well' but wants extra protection for minimum repayment borrowers

Consumer champions the FCA have been looking into the (fairly sizeable) UK credit card market to make sure it still provides a sterling service to consumers, and  last November it detailed exactly what it was going to do. The regulator has now published interim findings, and even come up with some helpful suggestions on how…

The Money Shop owner looking at £15.4m customer payout

The owner of The Money Shop is going to be refunding £15.4m to 147,000 customers after the lender was investigated by the Financial Conduct Authority (FCA). It is owned by Dollar Financial UK, who as trade as Paydday UK, Payday Express and Ladder Loans. They are going to reimburse customers who have fallen foul of the way…