1 November 2006

Consumers who need to claim against a firm which is no longer trading could benefit from a new online guide.

The Financial Services Compensation Scheme (FSCS), which aims to aid consumers who are left out of pocket and looking for help, hopes that the new web-based service will be a vital tool for those affected.

Information and interactive flowcharts will be available on the online portal, which offer advice on making claims and deciding which course of action can be taken.

Loretta Minghella, chief executive of the FSCS, notes that "significant" increases in the number of enquiries have been recorded in the last few years - which the new service can help to deal with.

The last financial year saw an 87 per cent increase in claims and a 120 per cent increase in phone calls.

"It is important that they understand who we are, what we do and the limits to the protection we can provide," Ms Minghella remarked.

"Our new consumer guide and online flowcharts are designed to do just that."

© Adfero Ltd

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