We work along side Carrington George to claim back PPI on your behalf to introduce into your arrangement.

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It is now common knowledge that historically banks and other lenders have inappropriately sold certain types of financial products, and in some instances applied unfair levels of charges to their customers.

You may be aware that the Financial Conduct Authority (FCA) has recently stated its intention to set a deadline by which consumers would need to make their Payment Protection Insurance (PPI) complaint or else lose their right to have them assessed by lenders or by the Financial Ombudsman Service.

It is your supervisors duty, to investigate whether any such financial claims can be introduced into your IVA and ensure that they challenge creditor claims where they can. As a result we have carried out a review of your file and it would appear that one or more claims may be available for the benefit of your IVA.  You need to act now before it’s too late.

What do you need to do?

To carry out this work, Carrington George have appointed Crystal Financial Claims Ltd to act as Their agent as we specialise in recovering mis-sold PPI in IVA and bankruptcy cases. We will need to confirm some basic details with you but will then complete the process on your behalf.

There is no charge to you; We are paid only from successful recoveries that are made from lenders.  They will charge 25% plus VAT of any recovery they make from the lender on your behalf with the balance being paid into your IVA.

The Claims Process

If you would like Crystal Financial Claims to undertake this work on your behalf, please complete the Claims Pack and return it in the pre-paid envelope. Crystal Financial Claims will contact the lender to obtain documentation on your behalf.  Occasionally, the lender will incorrectly set up the request as a complaint and contact you direct.  If this happens, please return any documentation received with the Crystal Financial Claims pack and do not respond to the bank direct.

In summary, we require you to:

  • Sign each Letter of authority and contract

Return in the return envelope:

  • Each letter of authority
  • company copy of the contract

If you have any questions or if you require any assistance, please see our frequently asked questions section or contact the Claims Management Team at Crystal Financial Claims on 01902 592658 or email info@Crystalclaims.net

What happens next

When you return this pack we will then send all the accounts off to be checked for PPI. When we receive confirmation of PPI on your accounts we will contact you again to discus some further details about how the PPI was sold to you, so we can build a complaint against the lender.

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Frequently Asked Questions

What is payment protection insurance (PPI)?

Payment Protection Insurance (PPI) is an optional financial product offered to customers who have taken out a loan, credit card or mortgage. It is used to cover repayments if the customer cannot make the repayments themselves.

PPI was also called Accident, Sickness and Unemployment cover (ASU), Life & Accident, Sickness and Unemployment cover (Life & ASU), Mortgage Payment Protection Insurance (MPPI), Personal Loan Protection (PLP) or Credit Card Repayment Protection (CCRP).

How was it mis-sold?

Payment Protection Insurance is designed to cover loan or credit card payments if you cannot work, for example, if you become ill or lose your job. Banks and other lenders sold PPI to their customers without fully explaining what it covered. In the worst case scenarios, the banks/lenders lied to customers by telling them it was a compulsory element of a loan, or they simply added it without the borrowers’ consent.

Am I eligible for compensation?

If you can answer ‘no’ to one or more of the following questions, then you may have been mis-sold PPI.

  • The insurance was optional, was that made clear to you?
    Did the adviser tell you about any significant exclusions under the policy – for example, the exclusion that says you won’t be covered for any pre-existing medical condition or you were self-employed?
  • If you took out a loan or finance agreement, did the adviser make it clear that you would have to pay for the insurance up front in one single payment?
  • If you had to pay for the PPI as a single payment, did the adviser make it clear that the insurance cost would be added to the loan and you would be paying interest on it?
    Single premium PPI insurance normally only lasts for five years. If your loan or finance agreement was for longer than this, did the adviser make it clear that the insurance would run out before you had finished paying for your loan or finance agreement? The adviser should also have told you that you would continue to pay interest on the insurance premium, even after the insurance expired.
  • If you bought PPI after 14 January 2005 did the adviser try to persuade you to take it out by saying something like ‘we strongly recommend that you consider taking out PPI’? If so, the sale counts as an ‘advised’ sale and they should have issued a ‘demands and needs statement’ to show why a particular policy has been recommended and why it is suitable for you. If they didn’t, this is grounds for complaint.

How much will it cost me to pursue?

There is no charge to you; We are paid only from successful recoveries that are made from lenders.  We will charge 25% plus VAT of any recovery We make from the lender on your behalf with the balance being paid into your IVA.

What if I cannot find the original paperwork for my loan or credit agreement?

We don’t need any paperwork from you, as we are working along side your IVA they have provided all the information we need.