Financial Ombudsman Service (FOS)
FOS is an organisation set up by the government to consider complaints against companies that sell financial products, including payment protection insurance. FOS can make binding awards of up to £100,000. It costs you nothing to complain to FOS as the costs are paid by the firm you are complaining about.

Financial Services Authority (FSA)
The FSA was set up by the government to regulate firms selling certain types of financial products, including payment protection insurance. All firms selling these products must be authorised by FSA either directly or indirectly as an agent of another firm that is authorised by FSA.

Financial Services Compensation Scheme
The FSCS is a compensation scheme set up by the government to pay compensation to customers who have been mis-sold certain types of financial products when the firm that sold the products has gone bust. In most cases they will pay around 90% of the value of the claim.

Information Commissioner
The Information Commissioner is responsible for ensuring that firms that hold personal data comply with the requirements of the Data Protection Act. These include requirements to keep data secure and only to use it for the purpose for which it was intended.

Ministry of Justice
All claims management companies in England and Wales have to be licensed by the Ministry of Justice through their Claims Management Regulation unit.

Payment Protection Insurance (PPI)
This is a type of insurance frequently sold by lenders with secured and unsecured loans. It provides a range of benefits to insure against death, accident, sickness and unemployment.

Secured Loan
A secured loan is a loan secured against a particular asset, usually your home. If the loan is not paid the lender could repossess your home.

Unsecured Loan
Unlike a secured loan, an unsecured loan is not secured against a particular asset.