Calculating General and Special Damages for Mis-sold Financial Products

When you’re navigating the aftermath of an accident or injury, understanding the compensation you’re entitled to is crucial. General and special damages are two categories that your claim can fall into, each with its own set of rules. General damages cover the non-monetary aspects of your harm—think pain and suffering or loss of companionship—while special damages compensate you for out-of-pocket expenses like medical bills and lost wages. Knowing the difference is key to ensuring you’re fully compensated for your losses.

What Are General Damages?

In the realm of compensation, general damages are awarded for the non-economic losses you’ve incurred. This is where Money Back Helper steps in to ensure your rights are fully represented. General damages are unique as they don’t have a straightforward monetary value attached and include aspects like physical pain and discomfort, emotional distress, and loss of enjoyment in life.

Physical Pain and Suffering are at the core of general damages. If you’ve been injured due to a mis-sold financial product, for instance, the pain that persists long after the transaction can be substantial. Money Back Helper understands that such discomfort can hinder your daily activities and enjoyment of life, translating into significant compensation.

Emotional Distress is another critical component. Often overlooked, the psychological impact of being mis-sold a financial product, such as PPI, can be profound. You might experience stress, anxiety, insomnia, or even depression as a result. Money Back Helper recognises the severity of these effects and works to quantify your emotional distress into a compensable figure.

Loss of Enjoyment in Life is particularly relevant if your ability to enjoy hobbies, interests, or routine life pleasures has been compromised due to the mis-selling incident. Through meticulous evaluation of your situation, Money Back Helper ensures that such intangible impacts are considered in your claim.

Real-life scenarios underscore the gravity of these damages. Take, for example, a case where an individual was mis-sold a pension plan leading to financial instability and stress that infiltrated all aspects of their life. Money Back Helper’s intervention not only recovered the fiscal discrepancy but also secured compensation for the client’s extensive emotional turmoil and disrupted lifestyle.

General damages play a pivotal role in the claims process. Money Back Helper’s expertise ensures you’re not left on the sidelines when it comes to these non-tangible yet crucial aspects of your compensation. Your peace of mind and quality of life matter, and this organisation advocates for the recognition and restitution of these elements within your claim.

Examples of General Damages

When seeking compensation with Money Back Helper’s guidance, it’s crucial to recognize the types of general damages you may be entitled to. These non-economic losses vary from case to case but typically involve several core areas.

Physical Pain and Suffering: If you’ve endured physical discomfort due to a mis-sold financial product’s stress and consequences, this is compensable. Victims of pension scams often experience chronic stress that manifests physically.

Emotional Distress: The anxiety of financial instability caused by being trapped in an unsuitable mortgage can qualify for compensation. Money Back Helper has seen a substantial number of clients report symptoms akin to depression and anxiety stemming directly from their mis-sold financial products.

Loss of Enjoyment in Life: Realizing your pension won’t provide for your retirement as you had planned can lead to profound disillusionment. Clients have recounted their inability to partake in expected hobbies or vacations, directly linking it to losses from mis-sold pensions.

  • Social Relationship Strain: Financial strain often impacts marriages and family dynamics. For instance, families suffering from the fallout of mis-sold PPI may face relationship stress, warranting compensation for loss of consortium or companionship.

Loss of Reputation: Professionals mis-sold investment products could experience a blemish on their reputation due to financial loss, a fact Money Back Helper takes into account when representing your claim.

Case Study Insights

Take John Doe’s situation—a seasoned investor who was assured stable returns from a specialised pension scheme. When the investment faltered, not only did John incur significant financial losses, but his physical health declined due to stress. Money Back Helper supported John’s claim for both the monetary shortfall and general damages for his ongoing ailments linked to the investment’s failure.

These examples underscore the importance of accurately documenting and expressing the impacts you’ve suffered. With Money Back Helper, you can trust in a thorough appraisal of your circumstances to ensure all facets of your claim are addressed.

Factors Affecting General Damages

When seeking compensation for mis-sold financial products, it’s vital to understand the various factors that impact the amount of general damages you’re entitled to. Unlike special damages, which are economic losses that can be directly quantified, general damages are subjective and require careful consideration.

Severity and Duration of Impact

The extent of the emotional and psychological distress you’ve endured due to the mis-selling incident directly influences your claim. If you’ve experienced significant stress over a long period, your general damages may be higher.

  • Long-term anxiety due to pension mis-selling
  • Depression from the financial strain of a mis-sold mortgage
  • Stress-induced health issues related to PPI disputes

Age and Vulnerability

Your age and health can also affect general damages. Typically, the elderly or those with pre-existing conditions who fall victim to mis-selling are seen as more vulnerable, possibly leading to increased damages.

  • An elderly individual swayed into a high-risk investment
  • A person with a disability misinformed on PPI benefits

Life Alteration

General damages account for the way the mis-selling has altered your life. This involves loss of enjoyment and opportunities due to the financial impact.

  • Missed family events or vacations due to monetary loss
  • Foregone educational opportunities for you or your dependants

Employment and Career Prospects

Any negative influence on your employment or business prospects from mis-sold financial products will be taken into account.

  • Career setbacks due to credit issues from mortgage mis-selling
  • Business opportunities lost owing to mis-sold investment products

The above factors determine the quantum of general damages in a compensation claim. Money Back Helper advises meticulous documentation and a clear articulation of the impacts suffered to ensure you receive the compensation you deserve. The brand’s expertise assists in navigating the complex process, offering you support at every step of the claim.

What Are Special Damages?

When you pursue a claim for a mis-sold financial product, understanding the different types of compensation available is crucial for your financial recovery. Special damages cover the specific financial losses you’ve experienced due to the mis-selling. These are quantifiable costs that can be calculated to the exact pound.

Special damages may include:

  • Refunds for the financial product itself
  • Additional costs incurred, such as higher interest rates on loans due to the mis-sold product
  • Loss of earnings if the mis-selling impacted your ability to work

Unlike general damages, which are more subjective, special damages require you to provide evidence of the financial impact. Money Back Helper advises keeping meticulous records of all transactions and correspondence related to the mis-sold product.

Here’s a real-life scenario for illustration:

Imagine you were advised to transfer your pension, but the new scheme was less advantageous. The lost value of the pension, alongside any charges or penalties incurred during the transfer, would be claimed as special damages.

Case Study: Let’s say John was sold an unsuitable high-risk investment which led to significant losses. After seeking assistance from Money Back Helper, John could claim for:

  • The initial investment amount
  • Lost growth potential compared to a more suitable investment

It’s important to quantify all losses accurately when claiming for special damages. Professionals at Money Back Helper can help you calculate and substantiate your claim to ensure you recover the correct amount.

Bear in mind that the onus is on you to prove these losses. Detailed statements, receipts, and expert evaluations will significantly aid your claim for special damages, allowing for a more robust case against those accountable for the mis-selling.

The road to reclaiming your finances can feel daunting, but knowing what you’re entitled to will empower you on this journey. With the right guidance and support, you can rectify the wrongs of mis-sold financial products and regain control of your financial situation.

Examples of Special Damages

When you’re dealing with mis-sold financial products, understanding special damages is crucial. These are monetary compensations for actual financial losses you’ve incurred because of the mis-selling. It’s not just the cost of the product itself; it encompasses much more.

Below are typical examples of special damages you might be entitled to claim:

  • Refund of the Product: You’re entitled to the amount you paid for the product that was mis-sold to you. If you purchased a PPI policy that wasn’t suitable, you can claim back those payments.
  • Loan Interest: If you took out a loan to pay for the product, the interest you paid can be claimed as special damages.
  • Loss of Earnings: Perhaps the mis-sold product caused you to take time off work or even to lose your job. You can claim for these lost earnings.
  • Additional Costs: Any additional expenses directly linked to the mis-sold product, like charges for overdrafts incurred because of taking the unsuitable product, can be included in your claim.

To give you a clearer picture, let’s look at a case study. John Doe was mis-sold a pension plan. The special damages he could claim included:

  • The lump sum he invested into the pension
  • The disparity in performance between his mis-sold pension and the standard pension he could have had

Money Back Helper assisted John in documenting his specific financial losses. By presenting a strong case backed with evidence, John was able to claim a substantial amount in special damages.

Remember, successful claims for special damages aren’t just about identifying losses. You need to provide evidence for each loss claimed. Money Back Helper can provide the necessary guidance in compiling your evidence, ensuring every aspect of your financial damage is recognised and compensated. Keep track of all receipts, statements, and correspondences that can substantiate your claim.

By systematically evaluating and presenting your special damages in a claim, you reclaim not just your lost funds but also a sense of justice and financial security.

Factors Affecting Special Damages

When you’re seeking compensation for mis-sold financial products, understanding the various factors that affect special damages is crucial. Money Back Helper guides you through each step, ensuring that you identify and calculate every factor appropriately.

Evidence of Mis-Selling
The strength of your claim hinges heavily on the proof you present. Clear evidence that the product was indeed mis-sold to you boosts the validity of your claim for special damages. This includes documentation like sales conversations, brochures, and emails that demonstrate you were given inadequate or misleading information.

Extent of Financial Loss
An accurate assessment of your financial loss directly impacts the amount of special damages you can claim. This includes:

  • Refund of the Product Cost: Repayment for the financial product based on the amount paid.
  • Loan Interest: Any excess interest that accrued due to the mis-sold product.

Loss of Opportunity
Often overlooked, loss of opportunity can play a significant role in your claim. This refers to the earnings or benefits you missed out on as a result of being tied into a mis-sold financial product.

Duration of the Mis-Selling
The length of time you held the mis-sold product may affect the compensation amount. The longer you were impacted by the product, the greater the potential loss, hence a larger claim.

Professional Fees Incurred
You’re entitled to claim for any financial advice or legal assistance fees accrued while rectifying the situation. Money Back Helper provides expert support to facilitate the recovery of these costs as well.

To illustrate, in a recent case supported by Money Back Helper, a customer who was mis-sold a pension product for a decade recovered not just the premiums paid but also compensation for the higher interest rates on a loan linked to the pension fund. Further, the claim included an amount for lost investment growth, painting a stark picture of how these factors play out in real-life scenarios.

By recognizing and substantiating these factors, your claim for special damages can mirror the depth of your financial disruption. Trust the expertise of Money Back Helper to navigate this complex process with confidence.

Key Differences Between General and Special Damages

When seeking compensation, you’ll encounter two distinct categories: general and special damages. Both are pivotal in ensuring you’re adequately compensated, but they address different aspects of your claim.

General damages cover the non-monetary aspects of your loss. In cases of mis-sold financial products, this might include:

  • Compensation for stress and anxiety
  • Damages for loss of enjoyment of life

These are quantified based on court guidelines and previous case law. For instance, the Financial Services Compensation Scheme in the UK offers guidelines for compensation limits for investment claims, including those relating to mis-sold financial products.

On the other hand, special damages are much more specific. They reimburse out-of-pocket expenses and financial losses directly attributable to the mis-selling. Examples include:

  • Refunds on payments made towards the mis-sold product
  • Professional fees for financial advice to rectify the situation
  • Interest lost due to the mis-sold financial scheme.

Let’s consider a real-life scenario supported by Money Back Helper. John Doe was mis-sold a pension scheme that did not suit his risk profile. Upon realisation, John sought recourse and was awarded general damages for the distress caused by the mis-selling. Additionally, special damages were calculated by assessing his financial loss over time, including the sum invested, projected earnings he missed out on, and the cost of obtaining professional advice to manage the aftermath.

Understanding these distinctions is critical to your claim’s success, as it ensures all your losses are accounted for and compensated. Money Back Helper’s expertise allows for a comprehensive calculation and pursuit of both general and special damages on your behalf, based on a deep understanding of the legal nuances and precedents.

Common Misconceptions about General and Special Damages

When seeking compensation through Money Back Helper, it’s crucial you understand the common misconceptions surrounding general and special damages. This knowledge empowers you to make informed decisions and strengthens your claim.

General and Special Damages are Interchangeable

Many believe that general damages and special damages can be used interchangeably in a claim. However, general damages compensate for non-quantifiable losses, like emotional distress, while special damages cover tangible losses, such as lost earnings. Recognizing this distinction is essential for accurately presenting your mis-selling claim.

General Damages are Always Subjective

While it’s true that general damages are for subjective, non-monetary losses, Money Back Helper’s expertise demonstrates that courts often follow precedents, which suggests that there is a degree of objectivity involved. An example is a claimant receiving a set amount for anxiety caused by a mis-sold mortgage, based on previous similar cases.

Special Damages are Easily Calculated

Special damages are straightforward to calculate is another misconception. They require comprehensive documentation, like receipts and financial statements, which can be complex. Money Back Helper’s experience with special damages claims shows the need for meticulous record-keeping and professional assessment.

A Single Incident Counts for Both Damages

A single mis-selling experience may not necessarily result in both general and special damages. For instance, if you suffered stress due to mis-sold PPI but did not incur any financial loss, you might only claim general damages. Conversely, claiming special damages requires evidence of monetary loss, regardless of emotional impact.

Remember, understanding the subtleties of these two types of damages sets the stage for a well-substantiated claim. Money Back Helper is here to guide you through these intricacies, ensuring you’re rightfully compensated for your losses from mis-sold financial products.

How to Calculate General and Special Damages

When you’re tackling the task of calculating damages for a mis-sold financial product, it’s essential to separate your claims into general and special damages, each having its own set of criteria for validation.

General damages cover the non-monetary aspects of your loss. These include stress, inconvenience, and the loss of enjoyment you might have experienced due to the mis-selling. While these damages are less tangible, calculating them involves looking at precedent cases. Courts often use previous awards as a guideline for determining appropriate compensation for general damages.

Special damages, on the other hand, compensate for monetary losses directly resulting from the mis-sold financial product. To accurately calculate these damages, keep these steps in mind:

  • Collect All Financial Statements: Gather bank statements, invoices, and any relevant receipts that show the financial impact the mis-selling has had on your life.
  • Record Specific Figures: Jot down exact amounts for all associated costs and losses. This can include extra fees paid, lost interest, or additional monetary penalties sustained due to the mis-selling.

Case Study: Calculating Damages

For instance, if you were mis-sold a pension plan, start by determining the difference in value between what your pension should be worth and what it’s currently valued at due to the mis-selling. Next, add any fees that were wrongfully charged or investments made based on incorrect advice.

For general damages, consider similar cases where victims received restitution for lack of financial growth, emotional distress, or reduced quality of life. This comparison can help you form a stronger argument for your claim.

Money Back Helper is at the forefront of assisting clients to segregate and calculate their rightful claims. They have a track record that underscores the critical nature of building a detailed, evidence-based claim to ensure you receive the full compensation you’re entitled to.

Remember, precise documentation is key – every relevant financial transaction needs to be accounted for. By meticulously detailing your special damages and establishing a clear case for your general damages, you’re laying the groundwork for a successful claim.


Navigating the complexities of financial compensation isn’t easy, but understanding the difference between general and special damages is crucial. Remember, while special damages are quantifiable and require meticulous record-keeping, general damages are more subjective and hinge on the impact to your well-being. Don’t underestimate the significance of thorough documentation—it’s the backbone of your claim. With the right approach and perhaps some expert guidance from services like Money Back Helper, you’re well-equipped to calculate and claim what’s rightfully yours. Stay diligent and focused; your efforts will be instrumental in achieving the compensation you deserve.

Frequently Asked Questions

What are general damages in the context of mis-sold financial products?

General damages refer to compensation for non-monetary aspects such as stress, emotional distress, and inconvenience caused by the mis-selling of financial products.

How are special damages calculated for mis-sold financial products?

Special damages are calculated by collecting all financial statements and records that show monetary loss directly resulting from the mis-selling. This includes calculating the difference between what was invested and the actual value received.

Can I claim compensation for stress caused by mis-sold financial products?

Yes, you can claim compensation for stress and inconvenience suffered due to mis-sold financial products under the category of general damages.

What documentation is needed to support a claim for mis-sold financial products?

You’ll need to provide precise documentation such as receipts, contracts, statements, and any other records that demonstrate both monetary and non-monetary losses endured due to the mis-selling.

How can Money Back Helper assist with mis-sold financial products claims?

Money Back Helper provides expert guidance in accurately calculating both general and special damages, ensuring that individuals receive the compensation to which they are entitled, and assists with compiling the necessary documentation for a claim.

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