10-Feb-2012

Major Pension Win for Money Puzzle

The Clarkson Hill Group plc

Money Puzzle has just won a case against The Clarkson Hill Group Plc. The advice was provided by an Independant Financial Adviser based in Paisley. The advice resulted in the whole value of the pension being lost. Money Puzzle have now secured £50,000 for our client. If you have received advice from and adviser linked to Clarkson Hill Group then you may be in a position to claim compensation. Call Money Puzzle for more information or advice

7-Jan-2012

Pay Day Loans to Fund Mortgages

Shocking 28% of people used pay day loans in December

“Debt Problems”, The National News today noted that around 28% of UK individuals turned to Pay Day Loans to pay their December Mortgage, Rent and associated bills.

Many people don’t know which way to turn or how to get assistance. Some try Government Agencies and after long waiting times only get limited help, or occasionally wrong advice due to the lack of volunteer’s training & the general effect of continued expenditure and cut backs.

How are you or your friends coping with spiralling expenditure?

16-Dec-2011

Bad Debt Advice

So called advisers charging hundreds for advice

Yet again I hear of pensioners being ripped off. A large debt advice company based in England with advisers throughout the country is charging over £1,000 for advice that is normally free. I got a call from Citizens Advice yesterday about a lady needing help. We called to find someone else had made an appointment. The fees £600 for advice, £500 for a processing fee and a further £600 thereafter. This is simply a scandalous rip off. Do not pay fees up from for debt advice. You do not have to. We do not charge fees for advice! and reputable company will not charge for advice.

30-Nov-2011

Locations

We offer debt help, debt advice and debt solutions throughout the whole of Scotland covering all areas of Glasgow through to Hamilton, Motherwell, Coatbridge, Irvine and Ayrshire. We are also available in Aberdeen, Dundee, Falkirk and Stirling. Money Puzzle have meeting sites throughout Scotland, or can arrange a home visit.

30-Nov-2011

16-Sep-2011

BBC Watchdog and Claims Management Companies

Martin Lewis, not always right

Martin Lewis gets a lot right. Simple rules, do not pay fees up front, know what the terms and conditions are. You can do it yourself. Sometimes it is one letter, but be prepared to work at it. If you want to discuss your case call us. We will not put pressure on you nor promise what we cannot deliver!

14-Sep-2011

Money Puzzle success

This week just gets better!!!!!! One customer offered just over £10,000 on a loan, cheque for another from FSCS for over £14,500, yet another offered over £6,500 from RBS and success against Tesco credit card with the FOS. Have you got your complaint in yet. Check our website or click FBML link to contact us. Do not miss out.

14-Sep-2011

Great start to our week

Money Puzzle Success continues

Great way to start a windy, wet monday in September. Opened the mail to find an offer for over £12,000 for one customer and a cheque for just under £9,000 for another customer. Great news for our customers!

6-Sep-2011

Lloyds Banking Group top complaints league table

Lloyds top the list

Lloyds Banking Group has emerged as the most complained about bank during the first half of the year, data from the Financial Ombudsman Service shows.

In its complaints data published today, the FOS reveals that Lloyds received 37,696 new complaints against it between January 1 and June 30. Lloyds’ complaints figures are almost double that of the number of complaints received by Barclays, which had 19,569 complaints, making Barclays the second most complained about bank.

HSBC received 14,071 new complaints, while Royal Bank of Scotland had 13,391 new complaints, and Santander had 7,247 complaints.

During the same period Lloyds TSB, part of Lloyds Banking Group, had 63 per cent of complaints against it upheld. Barclays had 43 per cent of complaints upheld, HSBC had 20 per cent and RBS had 45 per cent of complaints upheld. Santander had 44 per cent of complaints against it upheld.

Complaints about payment protection insurance were the main reason consumers complained about banks. The only exception was Santander, with the bulk of its complaints concerning banking and credit issues.

Overall during the first six months of the year the FOS received 149,925 new complaints, up 54 per cent on the 97,237 cases it received during the second half of last year.

Out of the total new complaints, 98,632 cases related to PPI.

FOS chief executive and chief ombudsman Natalie Ceeney (pictured) says: “These latest figures show a significant increase in the number of new PPI complaints referred to the ombudsman during the first half of 2011. This period coincided with the time when most of the high street banks and some other financial businesses had put PPI complaints on hold, because of their legal challenge against the ombudsman service and FSA.

“As a result, complaints in this period about PPI were harder fought, and harder to resolve - particularly if we found in favour of a consumer. This data therefore gives only a partial view on the cases which we were working to resolve over this period.”

14-Sep-2011

Bank (Goldman Sachs International) fined £17.5 million. Is this Good Or Bad?

Bank fined, Is this Good Or Bad?

The Financial Services Authority has handed a £17.5m fine to Goldman Sachs International for failing to tell the regulator it was under investigation in the US.
The FSA began its investigation in April after the US Securities and Exchange Commission charged Goldman with misleading investors.
This is the latest in a list of fines levied by the FSA against the banks. Many fines have been for mis selling PPI and this is what Money Puzzle specialises in challenging.

1-Jan-1970

Mortgage Activity falls by 12% in August

Mortgage activity dropped by 12% in August as funding issues and fears over a double dip recession continue, says the National Mortgage Index.
This was a very significant monthly fall showing the lack of confidence in the economy. People are much more cautious about buying homes and seem more inclined now to sit tight and ride out the recession. There are fears about what will happen within the wider economy when the expected public sector cuts bite.
People are worring about jobs, losing income and how they will support current levels of debt. It is expected that there will be a continued increase in the number of people entering debt managments plans, IVAs or Trust Deeds.

1-Jan-1970

How far back can I claim PPI?

Contrary to what many claims managment companies will tell you, you can go back further than 6 years. If you took a loan or credit card 12 years ago and closed it 6 years ago it is still possible to cliam back your mis sold PPI.
You should contact Money Puzzle and let the real experts handle your claim.

1-Jan-1970

Single Premium ASU on my mortgage, was I ripped off?

I had single premium ASU added to my mortgage by my mortgage broker
Many mortgage brokers and packagers added PPI or single premium accident sickness and unemployment (ASU) to mortgages along with other fees. This means for most that a policy lasting only 5 years normally becomes part of your mortgage for maybe 20 years or more.
Often these brokers have closed down or moved on and claiming is not so easy. Money Puzzle is particularly experienced with these claims and is one of the most successful in the UK.
Call us to discuss the requirements.

1-Jan-1970

What Banks are to blame for Mis Selling PPI

All the major high street banks

If you have had loans, credit cards, secured loans with, Nat West, Royal Bank of Scotland, Bank of Scotland, Halifax, Egg, Alliance & Leicester, Barclays, Welcome, Fist Plus, Black Horse, Lloyds, or any of the major lenders then you will probablly be able to make your complaint.
Money Puzzle have been submitting complaints and achieving a hidh degree of success against these institutions. We have been able too get money back with interest not just on open accounts but account closed for a long time.
For more information on how we can help you call us or email us and we will be happy to help.

1-Jan-1970

How long dose a PPI claim take?

PPI Claim, how long does it take?

PPI Claims can vary depending on the complexity, available documentation and who the complaint is made against. Some lenders will deal with PPI claims quickly others will take their time and slow down or obstruct the process.
It is possible to get a quick result but on examination the amount of compensation can be way out. It is very important hat the claims managment company and the client work together to make sure the PPI claim settlement is accurate and fair.

Money Puzzle have had PPI claims paid and settled in as little as four weeks, others we continue to fight for after a year. The majority of our claims will now be completed within 3 months as we chase and manage all claims.
If you have had any loans credit cards or secured loand with any of the following companies the give us a call. If you don’t make your complaint you certainly wont get any compensation. If you are not sure if you even purchased PPI then give us a call. Some of the main lenders who have mis sold PPI are Nat West, Royal Bank of Scotland, Bank of Scotland, Halifax, Egg, Alliance & Leicester, Barclays, Welcome, Fist Plus, Black Horse, Lloyds and many other banks or lenders.

Our average PPI claim is over £2,500 with an average of 3 claims per home this could be the most profitable phone call you have ever made!

1-Jan-1970

Bank of Scotland tops mortgage complaints list

But Barcleys has more complaints upheld

The Financial Ombudsman Service today revealed that the Bank of Scotland received the highest number of mortgage complaints between January and June 2010.

FOS data includes both the number of complaints received about individual businesses and the percentage of complaints upheld by the ombudsman service in favour of consumers.

Bank of Scotland received 500 complaints relating to mortgages, 25% of which were upheld, this was followed by Barclays bank which received 473, with 51% upheld.

Santander UK received 434 mortgage complaints, 29% of which were upheld.

Northern Rock (Asset Management) received the fourth largest number of mortgage complaints with 193, 42% of which were upheld, followed by Cheltenham & Gloucester which received 170 complains, with 27% upheld.

Other lender figures include; ex-Lehman Brothers owned lender Preferred Mortgages, received 38 complaints, 58% of which were upheld, Southern Pacific Mortgages, received 52, 57% of which were upheld, Future Mortgages received 28 complaints, with 55% upheld, and Mortgage Express received 78 complaints, 35% of which were upheld.

Overall, during this six-month period, the ombudsman service received a total of 84,212 new complaints – a small increase on the 82,136 cases received in the second half of 2009.

Lloyds Banking Group, headed the list with 12,750 new complaints in the six month period.

It apperars the Ombudsman is upholding more complaints in favour  of consumers, in the first half of 2010 the ombudsman service upheld an average of 44% of complaints in favour of consumers, compared to 53% in the second half of 2009.

Natalie Ceeney, chief executive and chief ombudsman, says: “The latest set of complaints data shows that some businesses are really committed to ensuring that complaints are handled well, and are used to inform and improve the service they offer their customers.

“However, the complaints data also shows there is still more that some businesses need to do to ensure that complaints are properly investigated and fairly resolved. The ombudsman is keen to continue to play its part and help businesses draw lessons from the complaints that we see, so disputes can be sorted out at the earliest opportunity.”
If you feel you may have a complaint and want advice or help is exploring what your options are please contact Money Puzzle and we would be happy to discuss what we can offer to help.

1-Jan-1970

I don't need advice

With the banks now defending PPI complaints on the basis no advice was given, this has serious implications for people going to their bank to buy or purchasing online. Buying without advice means you are accepting responsibility for the suitability of the product. THis could be PPI, life insurnace, building and contents insurance, income protection insurance, or even your mortgage.

With some of these products this could mean you do not get the benefit when you need it.

By buying from a properly authorised adviser you are protected and can be assured that if things do go wrong you wont be told “sorry not my problem, you bought it”

1-Jan-1970

NAT WEST and RBS fined £2.8 million

NAT WEST and RBS fined £2.8 million by FSA for poor complaint handling.

Margaret Cole, the FSA’s managing director of enforcement and financial crime says: “We expect firms to treat customers fairly and that consumers can be confident that their complaints will be dealt with properly. The failure of these two high street banks to deal adequately with complaints put consumers at unacceptable risk and the fine of £2.8m reflects this.

1-Jan-1970

Is your mortgage about to become more expensive?

Calculations Rates in the money markets appear to indicate that banks expect interest rates to rise in the near future. Swap rates are increasing and banks are responding by increasing the cost of their fixed rate mortgages. Many lenders are repricing their 2, 3 and 5 year deals. This may be the time to seek advice about your mortgage especially if you are on a tight budget and cannot take the risk of higher mortgage costs.

1-Jan-1970

Barcleys Bank Fined a Massive £7.7million

Yet another bank fined for failing in their duty to give customers best advice. Barclays have been fined a whopping £7.7 million for advice failures aroung two Aviva funds.

1-Jan-1970

Unemployment reached 2.5 million

Not great news for those losing their jobs. For those still in work who may be worried you should look at your insurance cover. Can you rely on the state to pay your bills, you mortgage, your car loan if you lose your job? If not whre will you get your income? It is vital that you are sure you can pay all you bills. If you don’t have savings or family who might keep you going with gifts then where would the money come from?
If you might needs advice we can introduce you to suitably qualified advisers you sell proper insurance and who will focus on your needs and give you advice.
Contact us now.

1-Jan-1970

I need my debt sorted

It is that time of year when the cards have hit the mat and the real winter chill bites. It is now that you may be thinking about what you have to do and you might need professional advice. Well contact Money Puzzle. We will not ask for any up front fees, we will listen to your situation and we will recommend a course of action. the hardest part is the first action. Contact Us now and you are on your way to a solution.

1-Jan-1970

www.facebook.com/moneypuzzle

You can now see Money Puzzle on Facebook. Check us out and we invite you to become friends. We will post updates on the markets and items we feel will be of interest to you.

1-Jan-1970

Inflation hits 4%

Inflation has hit 4%. What does that mean? More chance of higher interest rates and higher mortgages. Might be time to fix. If things are tight click on our contact page, leave some details and we will call you back. No messing, straight forward.

1-Jan-1970

Money Puzzle on Best of Falkirk

Welcome FS has been declared in default by the FSCS. this means that claims on PPI policies sold after 14th January 2005 will be processed by the FSCS and in a move agreed with the regulator Welcome FS will continue to deal with cases sold pre regulation. they have set aside up to £110 million to cover redress.
If you have been sold PPI by welcome contact Money Puzzle to get your claim started now.

1-Jan-1970

Best of falkirk

Thanks to our customers who have already added testimonials to the Best of Falkirk website. We are delighted we have been able to help. I hope we continue to help and delight our customers. A Big Thank You.
http://www.thebestof.co.uk/local/falkirk/business-guide/feature/money-puzzle-ltd/85497/review

1-Jan-1970

DAS or Debt Arrangement Scheme

are you in a debt management plan? There is a scheme which might be better for you. Worried about too much equity and too much debt thare you in a debt management plan?
This is a scheme similar to Protected Trust deeds, it is statutory, not voluntary and once in it you are protected.

1-Jan-1970

Banks lose Judicial review against the FSA and FOS

High Court abcks customers

The British Bankers Association today lost their judicial review in the high court. Last August the FSA issued new guidelines on how customer complaints should be handled by the banks. However the banks refused to comply saying that they believed new standards were being applied to old sales and so they launched a judicial review in October 2010.

It is believed the loss could cost the banks as much as £3.4 billion. Many have been fined for mis selling these products but total fines of £13million are still a drop in the ocean campared to the profits made on these products where commissions could easily have been 70% of the premium paid.

The banks have 21 days in which to launch an appeal against the judgement. It will be interesting to see if the Banks will once again defy the Court, the FSA, the FOS and most importantly their customers and proceed with an appeal.

The FOS have advised people to continue to complain and if necessary move the complaint to them if the bank does not handle it. Unfortunately despite threats of enforcement action the FOS has not been able to progress any of the claims and no enforcement action appears to be imminent. Money Puzzle believes claims will remain on hold until the BBA either appeal and exhaust the legal process or they accept the judgement.

Money Puzzle believe that the Banks should accept the decision, process the claims and offer redress to their customers who trusted them to sell suitable products in a ethical manner and believed they were protected until they tried to claim. Money Puzzle believes that this type of cover is very important and people should consider how they meet their committments if they are made redundant, off sick, lose their income, or even if they die, but people should take proper advice on what is suitable and be very careful of  “non advised ” sales.

1-Jan-1970

Fantastic News for bank customers

Lloyds Banking Group has decided to withdraw from the judicial review brought by the British Bankers’ Association against the FSA and the Financial Ombudsman Service over payment protection insurance redress measures. Lloyds’ announced this morning that it has set aside £3.2bn in redress, including administration expenses, in anticipation of compensation costs relating to the PPI products the bank has sold.
 
The BBA launched its judicial review in October, which disputed the package of PPI redress measures outlined by the FSA in August and guidance on PPI published on the FOS’ website.
The case was heard in January, and in April the High Court ruled in favour of the FSA and the FOS.
The BBA has until May 10 to lodge an appeal against the High Court’s decision.
A Lloyds spokesman says: “We will no longer be participating in the BBA’s judicial review. We believe this draws a line under the issue. We have always said that we wanted to provide certainty for our customers. Drawing a line under this issue does exactly that and is also in the interests of the long-term stability of our business.”
Which? executive director Richard Lloyd says:”This is great news for the millions of Lloyds customers who have been mis-sold PPI. It’s refreshing to see a bank break ranks from its peers and do the right thing by its customers.
 
“The rest of the UK’s banks must now follow suit and draw a line under the great PPI mis-selling scandal by withdrawing their legal challenge of the FSA and pro-actively reimbursing the millions of customers who were mis-sold PPI.”

1-Jan-1970

Who are you getting advice from

Just had a client come to see me. Financial difficulties. He has been calling companies offering advice and they have all suggested Trust Deeds. Trust deeds are fine but my client has no assets, does not own his home, is earning a low wage and qualified for a LILA. Why can these so called debt advice companies not give debt advice. I checked one in particular online and there is no address for the company or any details about it’s Consumer Credit Licence etc. I have advised my client the the best course of action for him, not me. Be careful who you seek advice from.
Call Money Puzzle for ethical advice for you not us!

1-Jan-1970

FSA finds price comparison sites treating customers unfairly

When a bargain isn't a bargain

The Financial Services Authority has written to 19 firms operating insurance price comparison websites to highlight concerns about the fair treatment of consumers.

the FSA says consumers may be misled about the services they are receiving from price comparison sites. Consumers may believe they are receiving a quote based on their needs but they are actually receiving an illustration based on general criteria.

Consumers may be unable to claim benefits against a policy purchased through a lack of opportunity to disclose all material facts, causing an insurer to refuse to pay out in part or in full on the benefits due under a policy.

It says price comparison firms enter into ‘white labelling’ contractual arrangements without fulfilling their obligation to counter the risk of financial crime. They could be assisting unauthorised firms in arranging or advising on contracts of insurance, against which a consumer may not be able to make a claim.

Money Puzzle is concerned that yet again policies may be sold that are unsuitable and companies will hide behind the "no advice " excuse. Consumerws must be aware that they need to know what they are buying and check all details before parting with their money. Money Puzzle believes the only way to avoid this problem is to make sure the sale is "advised" and using a broker may be the answer.

Some of the areas the FSA has highlighted include:

• Making it clear that firms should take responsibility for checking eligibility or disclosure, rather than putting the onus on the customer;
• Reminding firms to check whether they hold the correct permissions, in particular where they may be inadvertently giving regulated financial advice without holding that permission;
• Reminding firms who are using a ‘white label’ service to make it clear to customers which firm they are actually dealing with and who they should complain to should they wish to do so; and
• Reminding firms that use a ‘white label’ service to check that their provider holds the necessary permissions to conduct regulated activity.

1-Feb-2010

Barclays Settle all Claims

Money Puzzle is delighted that Barclays has promised to pay compensation to all those who it sold payment protection insurance and who made a complaint before April 20.

Customers will be repaid all their premiums and 8 per cent interest in a move the bank says will affect tens of thousands of customers and covers all the complaints put on hold during the PPI judicial review.

Barclays has previously set aside £1bn to cover the PPI it has mis-sold to customers.

Barclays has said it will review all complaints on merit after the automatic reimbursement cut-off date of April 20.

Which? chief executive Peter Vicary-Smith says: “It’s fantastic to see Barclays stepping up in this way, acknowledging their mistakes and refunding customers what they’re owed, no questions asked. Hopefully this will have a domino effect and other banks will follow suit –the sooner the banking industry can consign the PPI mis-selling scandal to the history books, the better.”

Money Puzzle has continued to demand banks meet their obligations and look after their customers fairly and honestly. We hope and would expect the other banks to follow suit.

1-Jan-2010

FSA grant banks extension to settle claims

Banks get a reprieve

The FSA has agreed a temporary extension for Barclays, Lloyds Banking Group and RBS to handle the backlog of payment protection insurance complaints.

Under new FSA rules all PPI must be handled within eight weeks. The extension has been put in place to ensure firms are able to handle the complaints properly.

The FSA says that PPI claims still with the firm but put on hold during the PPI review will receive a decision by August. PPI complaints received after the conclusion of the PPI review but made on or before August 31 will be responded to within 16 weeks and PPI complaints made between September 1 and December 31, 2011 will be responded to within 12 weeks.

As part of the extension, the FSA has called for all PPI complainants and their customers to be fully informed and for the banks to provide the FSA with regular reports on compliance. The FSA says all complaints will be dealt with on the eight week standard basis from January 1, 2012.

A number of firms placed PPI complaints on hold after the British Bankers’ Association launched a judicial review into the FSA’s new complaints handling measures. The FSA and the Financial Ombudsman Service won the case on May 9, 2011.

FSA interim managing director of the conduct business unit Margaret Cole says: “We want to see all PPI claims for compensation dealt with swiftly and appropriately. However some firms are facing a huge backlog and now a surge of new complaints which has created a bottleneck. It is not in the interests of consumers to receive further poor handling of their complaints as a result. This temporary extension means that these firms can process these complaints properly and fairly.

“We will be monitoring their progress carefully to ensure the new deadlines are met, that complaints are dealt with as promptly as possible and the backlog is cleared as a matter of urgency.

FOS chief executive Natalie Ceeney says: “The FSA has set down a clear timetable for these businesses to deal with complaints. We trust that the businesses involved will use this time to ensure that they have the necessary resources in place to deal with the PPI complaints they’ve received fairly and promptly.”

1-Dec-2010

When is advice not advice

Who is giving you advice?

Services

PPI Claims

Debt Advice

Trust Deed

Repossession

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