FSCS bails out finance firm

AN Oldham business is one of five being bailed out by the the Financial Services Compensation Scheme (FSCS).

Dean House Financial Services Ltd, at Admiral House, Parsons Street, Oldham, plus finance businesses in Bury, Wilmslow, Cheshire and Northwich, will be supported by the FSCS, which is stepping in to protect former customers who may be entitled to compensation. A declaration of default means the FSCS is satisfied the firms are unable to pay claims for compensation and opens the way for customers to apply to the FSCS for compensation if they believe they may have lost money as a result of their dealings with these firms.

Kate Bartlett, director of operations at the FSCS told Chronicle Business: “We have already started paying compensation in respect of these firms but we are encouraging anyone else who believes they be owed money as a result of their dealings with one of these firms, but has not yet made a claim, to contact our Customer Services Team.”

For claims against insurance brokers declared in default before the end of 2009 the FSCS can pay the first £2,000 of the value of a claim in full, plus 90 per cent of the balance.

The FSCS Customer Services Team can be contacted on 0800 678 1100 or 020 7892 7300.

Further information about the FSCS visit www.fscs.org.uk  or email at enquiries@fscs.org.uk