Consumers could get back money after eight failed regulated firms were declared in default by FSCS.

A declaration of default means FSCS is satisfied a firm is unable to pay claims for compensation made against it.

This paves the way for customers of that firm to make a claim for compensation with FSCS.

Alex Kuczynski, chief corporate affairs officer at FSCS, said: “FSCS steps in to protect consumers around the UK when authorised financial services firms go bust.

“This vital service, which is free to consumers, protects deposits, insurance, investments, home finance and debt management.

“We want anyone who believes they may be owed money as a result of their dealings with any of these firms to get in touch as we may be able to help you.” 

Since it began in 2001, FSCS has helped more than 4.5m people, paying out more than £26bn in compensation.

 Declarations by FSCS in May 2019:

East Midlands.
Philip Stephen Ogden t/a Phil Ogden Financial Planning, 105 Roundhill Road, Kettering, Northants NN15 6BG.

North West
GGC Independent Financial Advice LLP, The Delves, Heversham, Milnthorpe, Cumbria LA7 7EE.

The O'Rourke Partnership Limited, 55 Bentham Drive, Liverpool, Merseyside L16 1JE.

Scotland.

Premier Wealth Managers Limited, Titanium 1, King's Inch Place, Renfrew PA4 8WF.

South East.

Concept Automotive Services Limited, t/a Carland/Agreed Car Finance/Now Car Finance, Staines Road, Chertsey, Surrey KT16 9DA.

Larksway Investments Limited t/a City Professionals/Larksway Insurance/Crossbrook, Beaver House, 23-38 Hythe Bridge Street, Oxford OX1 2EP.

South West.

Jason Jones Autocentre Limited, Shuthonger, Tewkesbury, Gloucestershire, GL20 6EH.

Wealth Rapport Limited formerly Moores Waren Limited, Ashcom Park, Clyst St George, Exeter EX3 0NR.