01661 678007 [email protected]
Frequently Asked Questions - General

Why should I use Consumer Refund Service?

Consumer Refund Service will establish if your lender acted fairly when you were sold your policy.

You can only win a claim if the rules surrounding the establishment of the account or policy were broken or are categorised as unfair. After you make a complaint, the company who sold it to you will investigate to see if they broke the rules or not.

At Consumer Refund Service we offer unbiased, straight forward advice and will support you every step of the way. And more importantly, after you return your signed and completed welcome packs, you can sit back and leave all the hard work to us!

If your initial complaint is not upheld, you can go to the Financial Ombudsman’s Service (FOS) for arbitration. The FOS will independently assess the details of your complaint and decide whether your complaint should be upheld.

Consumer Refund Service provides honest, professional, experienced and jargon-free help which will give you peace of mind.

Should I claim myself?

You do not need to use a claims management company to make your complaint to your bank and if your complaint is not successful you can refer it to the Financial Ombudsman Service yourself for free.

Why should I claim back money?

Quite simply – if you have been mis-sold a PPI policy, you deserve your money back.

How will you get my money back?

Consumer Refund Service use legal argument to demand a full refund of your payment protection insurance plus interest.

What proof or guarantee can you give that you will get me my money?

Our highly trained team will put together a case specific to your circumstances. We shall ensure that the lender is provided with all relevant information to support your complaint, thereby ensuring a full and fair investigation into whether your policy was mid-sold can be carried out.

Will it affect my credit rating?

Not at all! Reclaiming back your PPI will have absolutely no impact on your credit rating.

Will this affect my relationship with my lender for future lending?

Not at all! If your lender refunds your premiums, it’s simply because they cannot prove that your policy was sold correctly or was suitable.

How secure are my details with you?

Consumer Refund Service are registered Data Controllers with the Information Commissioners Office and adhere to strict regulations regarding the security of your data.

Absolutely no financial information will be divulged or shared with any third party without your permission.

All documents relating to your claim will be either returned to you on request or destroyed by shredding on completion.

All customer data is held in accordance with the provisions of the Data Protection Act 1998 (“DPA”). All personal data will be held in accordance with the terms of the Company’s privacy policy which is available upon request.

How legitimate is Consumer Refund Service as a company?

Consumer Refund Service Limited is registered in England & Wales No. 7881105. Registered for VAT No.126835210.

Consumer Refund Service Ltd is authorised and regulated by the Financial Conduct Authority. Our Firm Reference Number is 833275.

Consumer Refund Service Limited is registered with the Information Commissioner’s Office (Registration Z3563634) www.ico.gov.uk

How much will a claim cost me?

Our service is ‘no win no fee’. Therefore you only pay our fee if your claim is successful and you are awarded compensation. Our fee is 20% of the financial benefit you have received plus VAT at the prevailing rate.

How far back can I claim?

This depends upon lender and type of credit agreement.

Can I now claim for a previous (now closed) account or loan?

Yes. We can reclaim irrespective of whether the account is still open or settled.

What if the lender says no?

If the lender rejects your claim, and you are dissatisfied with their reasons we may recommend your claim be referred to the Financial Ombudsman Service (FOS).

How long is the process likely to take?

We aim to conclude matters within 12-16 weeks. Your case will take longer if it is referred to the FOS.

Will the Lender ring / contact me?

Your lender shouldn’t contact you, as you will have given Consumer Refund Service authority to act on your behalf. On occasion the lender may need to contact you to confirm your recollections of the sale of the policy.

Frequently Asked Questions - PPI

I have noticed that PPI payments are being added to my credit card repayments, but I can't remember taking out a PPI policy?

At the time of sale, lenders need to give clear information about the cost of PPI and where it is being applied. If lenders automatically include PPI without asking you, then regulators see this as unfair. Lenders should not renew an existing PPI policy without confirmation from you.

Further, the salesperson should actually explain what PPI is, what it covers, what it will cost and if your circumstances mean you are eligible for cover. This was not always the case.

If I am retired, a contractor, unemployed or self-employed should I still have PPI?

No. PPI is designed to replace income in the event you cannot earn it. If you do not have income any claim on the policy would be rejected.

If you are not earning an income, or work less than 16 hours a week, then your PPI will not pay out. The company selling your PPI policy has to explain important details like this at the time of sale.

If you are self employed or contracted it becomes more complex. Some policies provide some element of cover but with restrictions. Often it will only cover not being able to work due to illness, injury or critical illness as opposed to lack of work opportunity. This information should be acquired by the sales person before suggesting a policy.

I can't work because of stress or another illness but my PPI won't pay?

Many of the most common reasons for people stopping work are not covered including stress and any chronic illnesses. PPI also excludes any medical conditions you knew about before you took out the policy. Companies selling PPI must explain what is and is not covered.

When I took out my loan I was told I had to take out PPI, is this true?

No – PPI policies are supposed to be optional & not a condition of being approved for credit.

How far back can I go?

This varies upon lender, when their sales of PPI became regulated & the length of time they retain documentation.

How do I find out more about Payment Protection Insurance (PPI)?

Go to our payment protection insurance product page

Don’t See the Answer You Need?

If you don’t see the answer for your question send us a message and we will answer you as soon as possible.