FSCS in-default register

Why Pay More Finance Limited

Declared in default26 March 2012FRN 457916

What this means for you

Because Why Pay More Finance Limited 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

Why Pay More Finance Limited (FRN 457916) has been declared in default by the Financial Services Compensation Scheme, effective 26 March 2012. The firm's product types were not specified in available records. Eligible customers may be entitled to FSCS compensation, subject to the scheme's standard limits depending on the financial products involved.

Products this firm wrote

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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.