First Direct is the online based banking company that must repay back mis-sold PPI. Today, they offer many different types of financial services including internet banking, mobile banking, text message banking, telephone banking, personal loans, credit cards, gold cards, fixed rate and bonus savings accounts, child trust funds, sharedealing services, insurance and travel currency.
If you’re looking for information concerning First Direct PPI claims then the official website on first direct.com has useful and up-to-date data concerning PPI that the company has accepted it mis-sold to customers before April 2008. First Direct.com no longer sell payment protection insurance on any of their services and they have for financial products that are directly affected by payment protection insurance policy claims. These are the flexiloan and mortgage payment protection policies, the personal loan protection plan and the balance protector which all may have had a First Direct PPI claim action taken against.
At least there is clear information concerning First Direct PPI, despite this it has become apparent that many people have struggled to successfully reclaim mis-sold payment protection insurance from First Direct despite the legal ruling on April, 2011 which the FSA have issued clear guidelines on how the banks and building societies should pay back mis-sold PPI to UK customers.
If you are searching for the full contact information of First Direct then this website has the full dress where you can write to them explaining your own situation and that you may have been mis-sold PPI in relation to a credit card or loan taken out a FirstDirect.com.
The information on the website claims that they will deal with your PPI complaints within a few days and while hopefully this will be the situation for you should be aware that many people have had to wait several weeks for their compensation money to clear into their bank account.
7 Step Process on How to Claim PPI from First Direct
There is a seven step process that First Direct to use to process all complaints made against them. The first step is when they acknowledge the complaint from you, step two is where they review your PPI complaint and it is then entered into their database. You should then receive a letter confirming that your complaints been received – if you have opted to use a CMC which stands for claims management company than this letter will be posted directly to them.
The complaint processing department but then look at your case which is step four in the whole procedure. The decision process then takes place and this is of course when you will hear back from First Direct. Step six applies to you if the complaint is upheld and then they will send out an offer for you to accept or not. Once you have finally agreed a compensation amount then according to First Direct your settlement payment should be issued within one month after they have received your signed contract acceptance.
First Direct do not advise anybody to use a claims management company but instead go to the financial ombudsman service if you are not happy with the response you are getting from them. Many people do choose to use a website service where they can claim compensation on a first direct PPI for you, taking the stress and aggravation out of the equation. This is up to you to decide that take note that you will be charged a percentage of your final lump sum amount from the CMS.