Lloyds PPI Claims | Your Money Claim (2024)

FAQs

Is my PPI refund legitimate? ›

PPI scams. Treat anyone claiming to be able to get you a PPI refund with caution. If you've been approached about a refund, contact us on 0800 111 6768 or use our contact form to report a scam. Read more about protecting yourself from PPI scams.

The bill for PPI claims in 2019 would be about £2.5bn, but Lloyds said no further provisions were needed as it had already set aside enough money. It brings the total paid out by Lloyds over the mis-selling saga to £21.9bn.

PPI pay-outs are made up of: the compensation (which is the refund of the PPI premiums paid and the interest you have paid on those premiums), and. the statutory interest on the compensation, at 8% (paid in recognition that you were deprived of your money for some time).

If you complained to the business by the deadline, they should respond within 8 weeks. However, in some cases it might take longer, find out more in the information below. If you don't agree with the business's answer, you'll have 6 months from the date of the final response to make a complaint to us.

a refund of PPI premiums. historic interest (interest paid by the customer on the PPI premium if it was added to the loan or credit card) simple interest at a rate of 8% per annum which is to compensate the customer for being deprived of the money they had paid to the firm for the PPI.

If you've had a loan or credit product but aren't sure whether you had PPI, you should check with your provider. Checking whether you had PPI is simple and free. Don't worry about paperwork, you just need your name, date of birth and relevant previous addresses. Many providers now offer online tools to help you check.

Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS). Please note that due to FSCS and FOS eligibility criteria not all business customers will be covered.

The PPI deadline passed on 29 August 2019, so the normal reclaim route is now no longer open, be that direct to a bank, using our free reclaim tool, or via a claims firm. However, it is still possible to bring a legal claim individually or join a group legal claim.

Ten years of PPI complaints

Our PPI issue caseload peaked in 2012 at over 15,000 cases. While numbers have fallen since then our network still helped with almost 5,500 problems in the last twelve months. “The PPI scandal reached pandemic proportions.

How do I figure out my PPI? ›

Finding the PPI of an image involves a simple equation: Number of pixels ÷ size of the image in inches = pixels per inch.

If you had PPI and then couldn't work - for example, because you were ill or made redundant - then you could have made a claim. Depending on what your policy covered, some or all of your credit repayments would be made for a time. PPI was paid for in different ways, depending on what it was sold with.

How much will Nexium kidney damage lawsuits be worth? Our best estimate is that Nexium or PPI kidney damage lawsuits in the top settlement tier will have a settlement value around $100,000 to $150,000. Cases in the lowest tier may be worth $20,000 to $50,000.

The FCA's deadline for making a claim on PPI was back in 2019. After this date, it hasn't been possible to receive compensation by contacting the provider or the Financial Ombudsman. The PPI claim deadline means that it is still possible to make a claim, but only by going through court.

The Payment Protection Insurance (PPI) scandal was one of the biggest ever seen in the UK. Millions of customers claimed refunds totalling billions of pounds, with banks and other financial providers fined for their conduct.