If your PPI policy was taken out after 14th January 2005 your claim can be taken to the Financial Services Compensation Scheme (FSCS). The FSCS is the UK’s compensation fund of last resort. They may pay compensation if a firm is unable, or likely to be unable, to pay claims against it. This usually takes place when the original lender either no longer exists or is bankrupt.
What if the finance company no longer exists?
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