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What’s the Current Situation for PPI Compensation?

Everything you need to know about making a claim for mis-sold payment protection insurance in one easy-to-follow guide.

Current

At Payment Protection Scotland, we want to make sure that ALL our customers get the right information. Over time, things have changed which is why we want you to have all the latest information about making a claim for PPI compensation.

There is still time BUT THERE ARE MONTHS LEFT TO MAKE A CLAIM FOR PPI COMPENSATION

There has been a lot of talk in the media and across social media channels about time running out on making PPI compensation claims.

Most of these claims refer to a blanket PPI deadline who has been set for 29th August 2019, only a few months away.

There are other deadline too, such as the length of time the account has been active, as well as those imposed when banks wrote to customers inviting them to make a claim. Don't let a deadline spoil your PPI windfall - act TODAY!

There is an active promotional campaign

As part of this deadline, the Financial Conduct Authority said there would be a nationwide and far reaching campaign to promote PPI compensation claims.

This is because many people don't realise that they are eligible to make a claim and that the compensation they could receive could be worth thousands of pounds - money that the bank took in payment for a policy that was of little or no use to them.

The Financial Ombudsman Service are still snowed under with PPI complaints

The Ombudsman deals with disputes between customers and financial companies relating to all kinds of financial products. This includes PPI complaints.

  1. You will need to approach your bank or lender first, for compensation.
  2. If the bank say no, you can ask the Ombudsman to make the final decision.

They release regular updates on how they are dealing with PPI complaints and the number of cases they resolve, as well as receive in a month.

The figures paint an interesting picture. After seven years of PPI compensation, the Ombudsman are still having thousands of cases referred to them each month.

And, they are still finding in favour of the customer in the clear majority of cases.

Payment Protection Scotland are still taking cases

With the deadline in place, the PPI compensation debacle is finally shutting downbut there are still several months until the deadline date. It is not too late to complain about mis-sold PPI.

But you must lodge your compliant quickly. Make a decision to call Payment Protection Scotland today to talk to us about our amazing PPI compensation claiming service.

Call our team today and benefit from the latest expert advice on PPI compensation claims.

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