Investment clients given chance to compensate debt
Investment clients given chance to compensate debt
Thursday 2nd October 2008
The Financial Services Compensation Scheme (FSCS) announcement follows 27 firms that have declared themselves bankrupt after they were declared unable to pay for claims made against them.
Jonathan Clark, director of claims at the organisation, said: "FSCS aims to provide an effective and efficient compensation service for consumers, and helps maintain confidence in the financial services sector.
"It is important that we let consumers of the 27 firms know that FSCS may be able to help if they have lost money and the firm can not pay."
However, consumers can only claim compensation for losses against firms that are regulated by the Financial Services Authority (FSA)
The FSCS covers investments, deposits, insurance and home finance advice provided from January 14th 2005.
www.debt1.co.uk - The official website of Byrom & Keeley – A UK based debt management company
Related News
'Bad credit loans' attached to PPI - 02/10/08
More than one million Britons are making a mistake with their credit card applications that could push them further into debt, according to a consumer watchdog report
More than one million Britons are making a mistake with their credit card applications that could push them further into debt, according to a consumer watchdog report
Higher motoring costs pile pressure on debt-hit Brits - 02/10/08
The soaring cost of motoring is adding to debt pressure on British households, new figures from the RAC have shown
The soaring cost of motoring is adding to debt pressure on British households, new figures from the RAC have shown
Students turn to parents to ease debt worries - 02/10/08
Debt-hit students are being forced to ask their parents for money to help them through university, it has been revealed
Debt-hit students are being forced to ask their parents for money to help them through university, it has been revealed
Students act to cut debt levels - 30/09/08
Students are taking drastic steps to cut their outgoings, as looming debt and higher living costs hit their finances
Students are taking drastic steps to cut their outgoings, as looming debt and higher living costs hit their finances
Pre-payment meters heighten debt risks - 30/09/08
Debt-hit families with pre-payment meters (PPMs) are paying hundreds of pounds more for their gas and electricity than those who pay by direct debit or who use an online plan, it has been revealed
Debt-hit families with pre-payment meters (PPMs) are paying hundreds of pounds more for their gas and electricity than those who pay by direct debit or who use an online plan, it has been revealed
News Article Search
Quick Apply
News Archive