Paymentshield keeps stalling on payouts to my clients

From Pete Russell

Has anyone else had a bad experience with Paymentshield or is it just me? I have had only one ASU claim paid out by Paymentshield in four years and I believe that was only paid out because it was on behalf of my brother.

I have a self-employed client in his fourth month of sick leave following a back operation. Paymentshield has admitted this is a valid claim but has refused a payout stating my client is trading at a loss. My client supplied the requested invoices showing an income over the past six months of £13,000 so how did it arrive at trading at a loss?

Paymentshield now wants accountant&#39s books for the past six months, which my client is paying to provide.

Why did Paymentshield not state from day one that it will only accept information from an accountant? In the meantime the mortgage company has started repossession proceedings, the very situation this ASU policy was taken out to avoid.

Pete Russell

Mortgage Warehouse

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