Beneficial Finance is no longer trading as this name and their branches across the UK closed down in 2009, if you search online for beneficial Finance you will soon be redirected to the HSBC group website and this is where you find out further information relating to Beneficial Finance PPI claims.
The company is now called HFC bank and if you have a global credit agreement with Beneficial Finance then HFC bank should be the first point of contact for you request reclaim back money that is rightfully yours because Beneficial Finance may have missed sold to a payment protection insurance policy require one or in fact, even worse automatically attached a PPI to your credit loan agreement.
There is a dedicated web page on the HFC bank website relating to Beneficial Finance PPI claims. The problem in this case is further confounded because the original company (Beneficial Finance) is no longer trading under that name. HFC bank is now handling all PPI claims and seem to be very apologetic on their website to anyone who has been mis-sold PPI.
The British Bankers Association were unsuccessful in trying to diminish the powers of the FSA and financial ombudsman relating to mis-sold PPI. This was a clear victory for consumers who were fed up with the service they were getting from their banks and building societies, credit and loan finance companies like Beneficial Finance have had to pay back millions of pounds to people who have successfully claimed.
How to make Beneficial Finance PPI claim?
The first steps you must take is to check that any loan or credit agreement you took out through your broker or the place to purchase the item that you need credit for is attached to Beneficial Finance. On your repayments statements there will be details linking this company to your payment plan, if they attach PPI to your agreement then you will probably have a good case to claim money back against them.
You can either telephone them directly or if you feel uncomfortable about complaining then you do not have to carry out a PPI claim DIY but instead opt to use a claims management company who will fight your case and try to win back your money owing to you through a Beneficial Finance mis-sold PPI.
You need to ask yourself a few questions such as “did they pressurise me into taking out a PPI policy?” Or “did Beneficial Finance add a payment protection policy without me knowing?”. Some people do not even know they were paying extra top on their loan repayments for PPI and this is clearly just cause for a compensation claim.
The FSA have strict timelines where companies like HFC bank must act on your behalf in dealing with your Beneficial Finance PPI claim. The problem is that they are probably inundated and backlogged with mis-sold PPI claim requests so you might have to wait many weeks or months for your money.
Just like all the other banks and building societies, they advise you not to use a claims management company but there are instances where they simply do not work fast enough in helping people claim back their mis-sold PPI, this is where a CMC can be helpful.