Remember - The deadline for submitting a complaint to LV= about PPI is 29th August 2019.
PPI is a policy designed to protect your loan or credit card repayments if you couldn't work because of accident, sickness or unemployment. A successful claim would pay your loan for up to a year and your credit card up to ten months.
Taking a PPI policy can offer customers peace of mind and many made successful claims allowing them to maintain their lifestyle which might have otherwise been at risk. Many customers also chose not to take PPI with their loan or credit card.
LV= ,also trading under Frizzell Bank and Liverpool Victoria Banking Services at the time, sold PPI policies with the following products:
LV= are also affiliated with the following companies where a small portfolio of Personal Loans was purchased which may have had PPI attached:
It'll show on your credit agreement and as a separate transaction on your monthly credit card statement. If you're not sure if you have PPI, have an enquiry or complaint about Payment Protection Insurance (PPI) or Card Protection Plan, submit an enquiry/complaint to us.
Remember - The deadline for submitting a complaint to LV= about CPP is 29th August 2019.
You may have bought card protection directly through CPP Ltd to protect your LV= ,also trading under Frizzell Bank and Liverpool Victoria Banking Services at the time, Credit Card or through LV=,Frizzell Bank or Liverpool Victoria Banking Services directly when you applied for your credit card or called to register/ activate a card.
The average annual cost of a card protection policy is £30.
The features of this product included:
It'll show as a separate transaction on your monthly credit card statements (card protection plan) or as a separate tick box on your credit agreement.
If you're not sure you can contact CPP Ltd on 0844 848 2914 who'll be able to confirm if you have/had a CPP policy and if it was sold by LV= or submit an enquiry/complaint to us.
You can complain about a PPI or CPP policy no matter when it was taken out. If you took it out more than 14 years ago it'll help if you can provide us with any documents you have.
None, we treat all complaints the same whether they come straight from you or through a CMC. However the CMC may charge you a fee or take a 'cut' from any compensation we pay you.
For PPI/CPP complaint where we uphold your allegation of the policy being mis-sold, any compensation offer we make is in line with the Financial Ombudsman Service and Financial Conduct Authority (FCA) guidance.
For both PPI and CPP, we aim to put you back in the position you would've been in had you not taken it out by:
If we do not uphold your complaint on mis-sale we will also consider your complaint to see if you are eligible for a refund of commission/profit share.
Yes, but as we aim to put you back in the position you would've been in had you not taken the policy we'll deduct any claims from your total refund. If the claims payments you received are more than the amount of premiums you paid you won't be due a refund.
Yes and when your complaint is complete, we'll send you a tax certificate to help with claiming a refund from HM Revenue & Customs if you're a non tax payer.
You can find out more about our complaints process on our Complaints FAQ page.