Marks & Spencer is the leading UK retail shop that has over 20 million people buying their products and services each week. Not only do Marks & Spencer provide high quality fashion and homeware, but today so have an extensive range of financial services.
These include store cards, credit cards, loans, savings and investment opportunities as well as travel insurance making them one of the biggest non-dedicated financial service operator in the UK. This company has a very good reputation so it did come as a surprise that they were in breach of UK law in regards to payment protection insurance and thousands of people are now looking to claim back mis sold Marks & Spencer PPI.
The Marks and Spencer’s UK website has some good information in relation to PPI and in 2008 M&S Money decided to stop selling payment protection insurance, so if you had a loan, credit card, car buying plan, chargecard or M&S budgetcard before this period you may well have been sold PPI through Marks & Spencer’s on top of your monthly repayment plan.
The FSA have now implemented strict rules and guidelines set out for companies in order to pay back the mis-sold PPI. Marks and Spencer are duty bound to pay back in compensation hundreds of thousands of pounds to the UK customer base. If you think you are in the position where you were mis-sold PPI from Marks & Spencer then you have the right to claim this money back.
How to Claim PPI from Marks and Spencer?
You can write directly to Marks & Spencer via their M&S Money website, we have included the full postal address on this website where you can contact them direct. Of course with any claim you must have direct proof of a mis-sold M&S PPI claim. This proof can be found on your agreement where you initially signed or can be found on your monthly statements which can be accessed by writing to M&S money they will probably charge you for this but if you feel you are definitely entitled to compensation then this minimal fee is well worth it.
The standard eight week waiting period is the time you can expect to wait from hearing back an initial response from Marks & Spencer. This is why it is very important to write everything down, many financial experts will advise you to organise yourself properly this includes making hard copies of everything including email documents and the times and dates of written correspondence between you and Marks & Spencer.
If you have been waiting over eight weeks then you are entitled to get in touch with the FSO who will review your case and take the necessary steps needed for you to claim back mis-sold Marks & Spencer’s PPI. There is a mini FAQ post on the Marks & Spencer website which details the whole time period and procedure which includes background information, letters sent out (directly to you or via a claims management company), decision process, compensation offer information and the acceptance of the final amount which you must of course sign for.