FSCS in-default register

Loans 4 People Limited

Declared in default7 October 2010FRN 313671

What this means for you

Because Loans 4 People 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

Loans 4 People Limited (FRN 313671) was declared in default by the Financial Services Compensation Scheme on 7 October 2010. The firm's product offering cannot be determined from available records, limiting specification of the compensation framework applicable to affected customers. Former customers may be entitled to FSCS compensation up to £85,000 for eligible deposits or mortgages, or up to 90 per cent of losses for insurance products, depending on the nature of their claim.

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.