payment protection insurance (PPI)

The best way to make a claim is to do it yourself.  If you think you have been mis-sold Payment Protection Insurance on a mortgage, loan, overdraft, credit card company, our advice is to make the claim yourself.

We woulds strongly advise you to avoid using a claims handling firm - they are unlikely to make the process any quicker or to make any difference to the success of your claim, and they could charge you a substantial portion - perhaps as much as 25% - of any money you are due.

latest news

Following the outcome of the judicial review on PPI complaint handling, announced on 20 April 2011, Barclays is committed to processing all payment protection insurance (PPI) complaints as soon as possible.

We said at the time that we don’t always get things right for our customers, but when we get them wrong we apologise and put them right.

Since then, we have been working in close co-operation with both the Financial Ombudsman Service (FOS) and the Financial Services Authority (FSA) to ensure we deal effectively with existing complaints and address new complaints being raised following the judicial review decision.

We are focused on ensuring we process all our PPI complaints as quickly as possible, in the best interests of our customers.

what is happening?

For PPI complaints received since 21 April 2011 and up until 1 October 2011, the FSA and the FOS have agreed to a waiver, or temporary extension, to the handling times for Barclays. The waiver is a temporary relaxation of the time limits within which Barclays is required to provide you with a final response to your complaint.

We would normally be required to respond to a complaint within eight weeks but given the large number of PPI complaints and to help Barclays and the FOS manage the volume of PPI complaints, this deadline has been temporarily extended as follows:

  • for all PPI complaints received between 21 April and 31 July 2011 we will work to a 16 week resolution period
  • for complaints received between 1 August and 1 October 2011 we will work to a 12 week resolution period
  • all new PPI complaints received after 1 October 2011 will fall within the standard eight week resolution period.

N.B. for the avoidance of doubt, the FSA has published a generic timetable for the industry, although each individual bank has specific dates agreed within this timetable which it must meet.

This waiver does not change our obligation to deal with all our customers fairly and as quickly as possible, and it will not affect the outcome of your complaint. Whilst these are maximum timescales agreed by the FSA, we will be aiming to resolve all complaints as quickly as possible.

complaints

If you have already made a complaint

We are working hard to resolve your complaint as quickly as possible, however we are dealing with a large number of PPI enquiries in addition to our normal customer service activity and our call centres are currently experiencing higher than usual call volumes.

Please be aware that if you contact us by telephone to check progress of your PPI complaint we will not be able to give you any further information about your complaint.  Please be assured that we are on track to respond to your complaint, in writing, within the timescales we have previously advised.

If you wish to make a complaint

If you wish to make a complaint about your PPI you can do so in several ways. There is no need to use a claims management company to complain - it is easiest to make complaints directly to Firstplus. Claims management companies usually take a fee or percentage of any compensation you are paid and your complaint is not dealt with differently or any more quickly.

You can call us on 0845 650 6600 or write to us at:

Customer Relations,

Firstplus Financial Group

The Avenue Business Park

Pentwyn

Cardiff CF23 8FF

We will ask you to complete a PPI consumer questionnaire from the Financial Ombudsman Service, downloadable from here.  Sending us this form will ensure we have the information needed to process your complaint efficiently and as quickly as possible.

frequently asked questions

How long should I expect to wait before I hear about my complaint?

If your complaint was received on or after 21 April 2011, we will be processing your complaint as soon as possible and aiming to have this resolved within the temporarily extended handling times agreed with the FSA and the FOS for Barclays PPI complaints.

You will hear from us when we are in a position to offer a resolution and receive updates on the progress of the complaint in line with FSA requirements.

Why have you applied for a waiver?

The waiver has been agreed with the FSA and FOS because of the large volume of PPI complaints, allowing a more reasonable amount of time to resolve these. We have made a commitment to resolve any complaints as quickly as possible and we are aiming to resolve them within the temporary extended timelines.

How does the waiver affect me?

If you submitted a PPI complaint on or after 21 April 2011, we have a temporary extension to the normal handling times for your complaint.

  • for all PPI complaints received between 21 April and 31 July 2011 we will work to a 16 week resolution period
  • for complaints received between 1 August and 1 October 2011 we will work to a 12 week resolution period
  • all new PPI complaints received after 1 October 2011 will fall within the standard eight week resolution period.

I have an existing PPI complaint, how can I get an update?

Customers with existing PPI complaints do not need to do anything at this time. We are working hard to resolve all complaints as soon as possible and to resolve them within the temporarily extended timelines.

>>Read the Waiver here

What if my complaint was put on hold prior to the judicial review?

We have contacted all our customers whose complaints were put on hold during the judicial review proceedings with an offer to settle their complaint as a gesture of goodwill.

Can I make a new PPI complaint?

Yes.  If you wish to make a complaint about your PPI you can do so in several ways. There is no need to use a claims management company to complain - it is easiest to make complaints directly to Firstplus. 

You can call us on 0845 650 6600 or write to us at:

Customer Relations,

Firstplus Financial Group

The Avenue Business Park

Pentwyn

Cardiff CF23 8FF

We will ask you to complete a PPI consumer questionnaire from the Financial Ombudsman Service, downloadable from here. Sending us this form will ensure we have the information needed to process your complaint efficiently and as quickly as possible. 

I have been approached by a claims management company. What should I do?

Our customers can complain to us directly and don’t need to use a claims management company (CMC). A CMC will typically charge an up-front fee or take a proportion of any financial redress. We will assess all complaints sent directly to us in exactly the same way that we treat complaints sent in by a CMC – your complaint is not dealt with differently or any more quickly.

Will Barclays be reassessing all previously rejected complaints?

We have not yet finalised our approach for previously rejected complaints. However we will be taking appropriate action if we identify issues, in line with our regulatory obligations.

What was the judicial review?

In October 2010, the British Bankers’ Association (BBA) filed for a judicial review against the Financial Services Authority (FSA) and Financial Ombudsman Service (FOS) on the matter of handling Payment Protection Insurance (PPI) complaints.

The principle of the judicial review was about the ability of the FSA and FOS to apply new standards to old sales. The BBA believed the FSA was effectively creating a precedent that permitted it to apply new rules to previous sales – even where those sales were regulated by other FSA rules. 

What was the outcome of the judicial review?

On 20 April 2011 the High Court announced that it had dismissed the BBA judicial review challenge of PPI complaint handling. The Court dismissed the judicial review challenge in its entirety.

Barclays announced on 9 May 2011 that it would not appeal the outcome of the judicial review on the matter of handling PPI complaints. The BBA later confirmed that it did not intend to appeal the ruling.

Why has Barclays made a provision of £1bn?

The £1bn provision is the total cost we have calculated that should cover the expected cost of complying with the new FSA policy statement and dealing with these complaints.

How can I find out more information? 

We've set up this section on our website for customers who would like more information about the PPI judicial review and complaint handling. The site will be updated as more information becomes available. The Financial Ombudsman Service (FOS) also provides an independent source of information.

 

 

A FIRSTPLUS LOAN IS SECURED ON YOUR HOME.  YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT
* Calls to 0800 numbers are free. Call charges from mobiles may vary. Incoming and outgoing calls may be recorded. ** Firstplus loans are not available for investment or business purposes.Firstplus Financial Group PLC is authorised and regulated by the Financial Services Authority for general insurance business. Registered number 309325.