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PPI CLAIMS DEADLINE
29th Aug 2019

Fenwick Store Cards PPI Check

What is store card PPI?

Payment protection insurance (PPI) may also be known as credit insurance, credit protection or loan repayment insurance among other terms on your documentation.

PPI is an insurance that helps someone who has taken out any form of finance to meet their repayments if they become sick, injured or redundant.

There is often confusion between PPI and income protection insurance. The two products are very different. PPI is a short-term policy, usually 12 months, sold with a loan and other credit products. This gives the borrower time to look for a new job or to return to work, if appropriate. Successful PPI payouts are made directly to the loan provider, not the policyholder.

On the other hand income protection insurance covers 70% of the policyholder’s income if they are unable to work due to an accident or sickness. This protection is long-term and can cover the policyholder until retirement if they are unable to work again.

Did Fenwick Offer PPI on Store Cards?

No. Fenwick was one of few retailers who have NEVER offered any PPI.

However, If you took out a store card in the 1990s or 2000s with another retailer you might be owed money on the following grounds:

    • At the time you were sold the PPI policy, were you unemployed, self-employed or retired?
      • If you were unemployed, self-employed or retired when you were sold your PPI policy, you would not have been covered so would not have received any benefit from it.
    • Were you aware PPI had been added to your agreement?
      • If you were unaware PPI had been added to your agreement, it was done without your consent. Alternatively it could have been an opt-out box that wasn’t clearly visible.
    • Were you told what the total cost of PPI was at the time of sale?
      • The total cost relating to the PPI should have been explained to you. This will be a major mis-selling factor if it wasn’t done.
    • Was it made known that some of the PPI premium may have been paid as commission?
      • If more than 50% of your PPI premium was paid as commission, this is classed as high commission under the Plevin rule. You were mis-sold and due a PPI refund.
    • Was it made clear to you that you could cancel the PPI policy?
      • You should have been notified of your right to cancel the PPI policy within the cooling off period.
    • Was it brought to your attention any of the circumstances or exclusions where you would not be successful in making a claim?
      • If not, those exclusions or circumstances would prevent you from claiming, you may have been mis-sold the PPI policy.
    • Did the salesperson check to see if you had other PPI arrangements that would cover repayments?
      • The seller has a responsibility to find out if you had sufficient PPI cover elsewhere.
    • Was there any pressure by the salesperson into purchasing the PPI policy?
      • The salesperson should have looked at your personal situation to assess if you would benefit from having PPI without any pressure or hard-sell.
    • When taking out the PPI policy, did you have any pre-existing medical conditions at that time?
      • If this was the case and you could not have worked for the duration of the PPI term, you would not be covered by the PPI policy.
    • Was it inferred to you that PPI was necessary to get the finance?
      • If the finance sought was such that required a PPI policy, the salesperson should have let you know that you could shop around to find and compare PPI cover or if you already had PPI in place, you should not have been sold the PPI policy.
    • Did the PPI policy have an upper age limit, if so, were you older than it?
      • If the PPI specified an age limit for cover and you were older than this, you would not be covered by the policy.
    • What was the term of the PPI, was it was less than the term of finance agreement? Also, were you advised that there would be a period of no cover towards the end of the finance agreement?
      • If it wasn’t explain that you would have a period of no protection during the term of the finance agreement, your PPI policy was mis-sold to you.

What could you claim for?

If your claim for PPI is upheld, you may receive a full refund of PPI paid, this includes any interest charged on the PPI. Statutory interest of 8% per year is also payable on the premiums and any interest charged.

How to lodge a PPI?

A deadline of 29 August 2019 has been set by The Financial Conduct Authority (FCA), by which time all PPI complaints will need to have been submitted. After which time, customers will lose the right to have their complaint assessed by us, or the Financial Ombudsman Service.

If you have a concern about how your PPI Policy was sold, contact us directly to discuss and start your check PPI for FREE.

We understand consumers may require different levels of assistance and are committed to making your check PPI** and claim process as straightforward as possible. Our process is designed to make it as easy as possible for anyone wishing to make a complaint.

We’d like to discuss the details of your case with you so your complaint can be lodged as quickly as possible and to find out if you had any PPI charges on your loan or finance agreement.

The PPI Deadline

IMPORTANT NOTICE!

WE ARE NO LONGER ACCEPTING NEW PPI CLAIMS!

Due to the proximity of the PPI deadline, we are no longer accepting any new PPI claims to allow us to process existing PPI Claim enquiries

Please be assured, if you have already enquired about a PPI Claim with Money Management Team Limited we are processing your enquiry and will update you as your claim progresses. If you need an update in the meantime, please contact us.

You can pursue your own claim direct to the firm to obtain a refund. You can do this for yourself at no cost and then use the Financial Ombudsman Service or Financial Services Compensation Scheme (FSCS) which are both FREE.

Dont Miss the 29th Aug 2019 PPI Deadline!

£Millions Remain Unclaimed!

PPI Deadline FAQs

Is there any leeway in deadline timing?

No – the deadline is absolute. If the claim is not properly logged with the lender before midnight on August 29th it will be officially time-barred.

I already have a case(s) going through with you, what will happen to them?

The deadline is for new claims only. All existing claims will be investigated and decided normally.

I have had a case with FOS through you for ages – what will happen to it now?

All FOS investigations of current claims will be unaffected by the deadline. It is for new claims only.

Will the deadline cause any delay in my case?

No – existing cases will be processed as normal with a final decision expected within 8 to 16 weeks of acknowledgement of the claim by your lender.

What if the bank wants more information?

A request for further information from the bank means that it has been accepted and is under investigation. The usual timescale of 8 to 16 weeks for a decision will still apply.

Why is there a deadline?

The deadline was set in place by the Financial Conduct Authority (FCA), which is the UK’s financial regulator. It’s chief executive, Andrew Bailey, said at the time: “Putting in place a deadline and campaign will mean people who were potentially mis-sold PPI will be prompted to take action rather than put it off. We believe that two years is a reasonable time for consumers to decide whether they wish to make a complaint.”

“We have carefully considered the feedback we received and we still believe that introducing a deadline for PPI complaints and a communications campaign warning of the deadline will benefit consumers.”

What happens after the deadline?

The deadline is for new claims only. If your claim has already been lodged with your lender then it will be fully investigated.

What happens if my case is rejected by the lender?

If your claim is rejected then it will be passed to our specialist team who will evaluate the terms of the rejection to see whether an appeal to the Financial Ombudsman Service (FOS) might be possible and advise you of their findings.

PFCA MEMBER

PPIClaims.com is a trading style of Money Management Team Ltd. Money Management Team is a member of the Professional Financial Claims Association (PFCA).
We comply with the PFCA Code of Practice

Important Information


*Free Check with our Claims Service. Outcome is lender specific and may result in a complaint being investigated

Your PPI Claim starts with a Free PPI Check service. Our PPI Claim fee of 20% + VAT (so 24%° of the total redress offered by your lender) is payable if your claim is successful. That means if we don’t recover you anything, you don’t pay us a penny.
You can submit a claim directly to the lender yourself for no charge. You can also approach the Financial Ombudsman Service and Financial Services Compensation Scheme for free to review your case, providing it falls within their remit and you have approached your lender first.