FSCS declares consumers can claim up to £48,000

The Financial Services Compensation Scheme (FSCS) has confirmed that consumers can claim up to £48,000 in compensation if they lost money as a result of dealings with any of 34 firms recently declared in default.

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In a statement released today (3 June), the FSCS declared that it would consider claims made by customers of the firms who claim to have lost out, for example due to mis-selling.

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 made 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 able to help, if they have suffered a financial loss."

The comments come just weeks after the FSCS started paying claims against Gordon Benville, a Deal-based mortgage adviser trading under the name of Kingsfield.

To be declared in default, a firm that is regulated by the Financial Services Authority (FSA) must be found by the FSCS to be unable, or likely to be unable, to pay claims against it.

A full list of the 34 companies named by the FSCS as in default can be found on www.fscs.org.uk.

Consumers who believe they may have a claim should contact the FSCS on 020 7892 7300, or by email at enquiries@fscs.org.uk.

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