FSCS in-default register

Promise Finance Ltd (formerly Promise Solutions Ltd)

Declared in default27 October 2009FRN 306102

What this means for you

Because Promise Finance Ltd (formerly Promise Solutions Ltd) has been declared in default, you can't complain via the Financial Ombudsman Service in the normal way. Instead, eligible customers can apply to the Financial Services Compensation Scheme for compensation.

Background

Promise Finance Ltd, formerly known as Promise Solutions Ltd (FRN 306102), was a UK-regulated firm that provided payment protection insurance claims services. The firm was declared in default by the Financial Services Compensation Scheme on 27 October 2009. Customers holding eligible PPI claims through the firm may be entitled to compensation of up to 90% of their claim value with no upper limit, subject to FSCS eligibility criteria.

Products this firm wrote

Ppi Claims

How to claim

  1. Check you were a customer of this firm during the period it was regulated.
  2. Gather your policy / advice / contract paperwork — start with anything you have in writing.
  3. Identify your loss and the date it crystallised.
  4. Apply via the FSCS online claim portal at claims.fscs.org.uk.
  5. The FSCS investigation typically takes 6–18 months. They will assess eligibility, liability and quantum.