What is itpaystoclaim.com?

itpaystoclaim.com is regulated by the Ministry of Justice in respect of regulated claims management activities and has been established to provide people like you a simple means to re-claim the money that you have given to financial institutions that may have mis-sold or over charged you. The site has been built by people who have worked in the Financial Services industry and who have had enough with the way certain aspects of it operate. We are working hard to put pressure on these institutions and others that are not as open as they could be in the way that they work.

If you know of other issues that we could pursue please contact us with your thoughts.

Why itpaystoclaim.com?

Unlike many other sites itpaystoclaim.com is regulated by the Ministry of Justice in respect of regulated claims management activities. itpaystoclaim.com is solely focussed on helping people like you make legitimate claims against financial institutions for mis-selling or overcharging. It is staffed by Financial Service experts whose insider knowledge should ensure that you re-claim everything that you have spent out on a mis-sold policies.

Am I eligible to claim?

The top 11 grounds for making a claim are:

Personal
1. You were under 18 or over 65

Employment
2. You were aware you may become unemployed
3. You were employed on a temporary or contract basis
4. You worked less than 16 hours a week

Health
5. You suffered from stress or backache
6. You had an existing illness

Product
7. You were not asked about any other insurance (ASU or otherwise) you had
8. You were told that the ASU policy was necessary for you to get the loan
9. You were not told about the cost of the ASU
10.You where not told you were buying ASU at all
11.You were not told that the same ASU policy could potentially be bought cheaper elsewhere
If one or more of these apply to you, then you probably have a valid claim for a full refund.

Can Itpaystoclaim.com make any difference to my claim?

itpaystoclaim.com will make maximum use of existing relationships within the Financial and Legal professions to ensure that you get the best possible service.

We will also use the aggregate data we gain to ensure that the press, governing bodies such as the FSA (Financial Services Authority), MoJ (Ministry of Justice) and the institutions themselves are made fully aware of the real issues. This should facilitate a quicker response to our claims and apply additional pressure for better practice moving forward

Do I stand a chance of being awarded a claim?

The FSA (Financial Services Authority) estimate that c.70% of PPI policies have been mis-sold. If after checking your eligibility to claim you can confirm that you have 1 or more grounds to claim then you are in with a very good chance.

Won’t it take months to find out if I even qualify for a claim?

Once you have submitted your Claims form to itpaystoclaim.com you will be contacted to confirm the facts and possibly answer one or two more questions.

If you are eligible to make a claim you should receive your money within weeks.

What if I’ve got a poor credit rating that’s not my fault?

Whether you have a poor credit rating or not you can make a claim. Remember that your claim is likely to be against one of the very institutions that helped you get a poor credit rating in the first place!

The whole claims thing is a completed mystery. Can you help?

Itpaystoclaim.com is here to help those that do not want to deal with the financial institutions or the Financial Ombudsman directly. We live or die by taking the pain away from this process – so yes, we can help.

I can’t understand the technical terms. Can you translate for me?

If there’s any term that you don’t understand, just check out Jargon explained and this should clear up any confusion you might have, quickly and easily.

What if I have questions during the claims process? Am I on my own?

After you have made your claim we, or one of our partners, will allocate you a Unique Reference Number, a dedicated account team and free phone direct dial telephone number. If you have any questions during the process just call.

What can I use my money for?

The money is yours to use how you wish.

Ditch & Switch: We would however suggest that you consider reviewing your protection policies and where possible go direct as it tends to be much cheaper.

We have partnered with a number of like minded PPI/ASU providers whose support goes towards our marketing costs. For more information about “Ditching & Switching” please click here.

Save It: Given the current economic climate it might not be a bad thing to try and save onto your windfall. Again we have partnered with a number of savings providers are offering preferential rates for itpaystoclaim.com customers. For more information about “Re-Claiming for Saving” please click here.

What’s a survey? Why do I need one?

A survey is a list of questions that once answered provide itpaystoclaim.com with the ability to provide you with a better or cheaper service.

At itpaystoclaim.com we are trying hard to re-shape the way that financial institutions work with and sell to their customers. In order that we can put maximum pressure on the relevant organisations we need to know what it is you want and how you want it. To that end we may ask

Can I do it myself?

Yes you can. That said it can be time consuming and the process can appear intimidating to those who are not comfortable dealing with financial institutions and the likes of the Financial Ombudsman. Also, we won’t be able to use your experience to apply additional pressure on these bodies to make it easier for you and others like you in the future.

If wish to take them on yourself then Itpaystoclaim.com is currently compiling a do-it-yourself kit for £9.99 – for further information please click here.

How much will it cost me to make the claim? Are there hidden costs?

It will cost you nothing to make a claim through itpaystoclaim.com.

Should your claim be successful a fee will be charged and this will be confirmed on receipt of your initial claim. Please note that you are not obliged to accept this charge until you have signed and returned the necessary paperwork and it will then only be paid on the back of your successful claim. We cannot do this before as the contents of your application may dictate the claims partner we work with.

What companies have been claimed against?
The Financial Services Authority (FSA) has handed down a £1 million+ fine to HFC Bank, a lending arm of global giant HSBC. This is the largest fine levied for PPI misconduct yet.

That said HFC co-operated with the FSA’s inquiry, which found that it had failed to ensure that 163,000 borrowers received suitable advice when sold PPI between January 2005 and May 2007. By playing along, HFC had its fine reduced by 30% from the £1,550,000 which would otherwise have been handed over. Thus, by admitting its failings and promising to clean up its act, the lender saved a tidy £465,000.

That said the fines are a pittance compared to the level of mis-selling that has ocurred. Submit your claim through itpaystoclaim.com and make these faceless institutions sit up and listen!

Alliance & Leicester:Fined £7,000,000 in October 2008 Info: Alliance & Leicester

Liverpool Victoria: Fined £840,000 in July 2008 Info: Liverpool Victoria

Land of Leather Ltd: Fined £210,000 in May 2008 Info: Land of Leather

HFC Bank: Fined £1,085,000 in Jan 2008 Info: HFC Bank

Hadenglen HF Plc: Fined £133,000 in Sep 2007 Info: Hadenglen Home Finance Plc

Capital One: Fined £175,000 in Feb 2007 Info: Capital One

GE Capital Bank Ltd: Fined £610,000 in Jan 2007 Info: GE Capital Bank Ltd

Loans.co.uk: Fined £455,000 in Oct 2006 Info: Loans.co.uk

Redcats: Fined £270,000 in Dec 2006 Info: Redcats

Regency Mortgage Corporation: Fined £56,000 in Dec 2006 Info: Regency Mortgage Corporation