Consumers can claim for losses due to default firms
Consumers who have lost money as a result of dealings with firms, who have recently been declared default, are eligible for a payout of up to £48,000 according to the Financial Services Compensation Scheme (FSCS).
Director of claims, Jonathan Clark said, “FSCS’s primary role is to help people who have lost money after doing business with an authorised firm if that firm is unable to meet claims against it. It is important that customers of any of the 34 firms we have recently declared in default are aware that FSCS may be bale to help, if they have suffered financial loss.”
To be pronounced in default, a company that is regulated by the Financial Services Authority (FSA) must be found by the Financial Services Compensation Scheme to be unable, or likely to be unable, to pay claims against it.
A statement released by the FSCS said it would consider claims made by customers of the firms who claim to have lost out, by for example, mis-selling.
Updated on 6/4/2008