Consumers could be in line for compensation after FSCS declares eight firms in default

Friday 13 Jul 2018 @ 17:11
FSCS

Consumers could get back money they have lost as a result of their dealings with any of the eight failed financial firms (listed below) the Financial Services Compensation Scheme (FSCS) declared in default during June 2018.

FSCS is the UK’s statutory compensation scheme that protects customers of regulated financial services firms. A declaration of default means FSCS is satisfied a firm is unable to pay claims for compensation made against it. This paves the way for customers of that firm to make a claim for compensation.

Alex Kuczynski, Chief Corporate Affairs Officer at FSCS, said: “FSCS steps in to protect consumers around the UK when authorised financial services firms go bust. This vital service, which is free to consumers, protects your deposits, investments, home finance and insurance. We want anyone who believes they may be owed money as a result of their dealings with any of these firms to get in touch as we may be able to help you.”

Since it began in 2001, FSCS has helped more than 4.5m people, paying out more than £26bn in compensation.

If you wish to make a claim with FSCS against one of these firms, you may be able to do so using FSCS’s online claims service. Or you can contact the Scheme’s Customer Services Team on 0800 678 1100 or 020 7741 4100, or by email at enquiries@fscs.org.uk.

For the latest FSCS news and information visit www.fscs.org.uk or follow @FSCS News

Declarations by FSCS

from 1st to 30th June 2018

Greater London

Indigo Outsourcing Limited formerly Indigo Mortgage Brokers Limited, 5th Floor, Broadmead House, 21-23 Panton Street, London, SW1Y 4DR

South East

Principal Marketing and Insurance Services Limited, Principal House, 6 Chertsey Road, Woking, Surrey, GU21 5AB

South West

Professional Financial Advisers of Cheltenham Limited, Financial Advisory Centre, Lansdown Place Lane, Cheltenham, Gloucestershire, GL50 2LB

West Midlands

Squirrel PFA Limited, SQ2 House, 240b Lichfield Road, Four Oaks, Sutton Coldfield, West Midlands, B74 2UD

Yorkshire and the Humber

Brian Leighton (Garages) Ltd, Boothferry Road, Howden, Goole, North Humberside, DN14 7TA

Pentagon Independent LLP, The Grange, Wheldrake Lane, Elvington, York, North Yorkshire, YO41 4AZ

ICF Group Ltd formerly t/a Kennett ICF, Medina House, 2 Station Avenue, Bridlington, East Riding Of Yorkshire, YO16 4LZ

Scotland

Fergus Burns formerly t/a The Financial Planning Partnership, 13 Borthwick Place, Balmullo, St. Andrews, Fife, KY16 0EB

Channel website: https://www.fscs.org.uk/

Original article link: https://www.fscs.org.uk/news/2018/july/consumers-could-be-in-line-for-compensation-after-fscs-declares-eight-firms-in-default/

Share this article

Latest News from
FSCS

Almost £2billion lost in retirement savings since 2019, with men most likely to claim, new data from FSCS shows

18/04/2024 13:25:00

More than 43,000 claims have been received by the Financial Services Compensation Scheme (FSCS) since 2019 for total pensions losses reaching almost £2billion when authorised financial providers and advisors went out of business, according to new analysis of FSCS claims data, with four out of five made by men.

More than £54million recovered from failed financial providers in 2023/24, latest data from FSCS shows

09/04/2024 12:10:00

London – In the year ending March 2024, the Financial Services Compensation Scheme (FSCS) has recovered over £54million from the estates of failed financial services providers.

FSCS confirms nine firms have been declared in default in December 2023 and January 2024

16/02/2024 14:10:00

Regular notice that consumers could be in line for compensation.

Delivering for our customers in 2023

23/01/2024 13:10:00

With thousands of claims processed and millions paid in compensation to customers, 2023 was another challenging but rewarding year for the FSCS Customer team. Across the calendar year, a total of 61 financial firms were declared in default and we made 40,197 claim decisions for 27,145 customers. FSCS Chief Customer Officer, Sarah Marin, tells us more.

WIREDGOV