Glasgow: 0141 844 0017 * Edinburgh: 0131 224 0094 * Lanarkshire: 01698 286 463

Archive for tag: PPI Deadline Date

Rules for the PPI Deadline Date

You are probably aware by now that the Financial Conduct Authority has set a deadline for PPI compensation claims. In the summer of 2017, they launched their advertising campaign to inform people who want to make a claim for compensation about how to do this.

Deadline

We think it is important that you understand the ruling behind the deadline and why it is important that you don't wait to make a claim for PPI compensation but start your claimas soon as possible.

When it the deadline?

The FCA has decided that the deadline for PPI complaints is 29th August 2019. It is a Thursday and customers have until 11.59pm on that date to make a complaint.

Don't wait

Don't wait to make a complaint as the FCA, along with most banks, believe that there will be an influx of claims for PPI compensation. It takes time for cases to be assessed and providing you have your claim to your bank by 11.59pm on Thursday 29th August 2019, the bank or lender is duty bound to assess your case.

Ways to complaint

If you decide to make a claim, you need to remember that:

  • By post - your letter or PPI claim form for your lender will need to reach them on or before 29th August 2019. Postal claims received from Friday 30th August will NOT be considered.
  • By phone - some lenders and banks have PPI helplines through which customers can make a claim but these will close before midnight. If you leave it too late, you will miss out.
  • Online - if there is an increase in submissions made online on the 29th August, you may find that the bank or lender websites will not be able to cope with the volume of users. If the site crashes, you may find you are unable to lodge your complaint in time.
  • Claim management companies - CMCs such as ourselves will, no doubt, set our date by which we can accept and process PPI compensation claims near to the deadline. To take advantage of our service, you need to contact us straight away to get your case moving.

This deadline is for PPI claims on policies that were sold before summer 2017. Anything sold after that time which the customer believes has been mis-sold will be dealt with separately.

How to claim

Check that you have PPI on loans, credit cards, store cards, catalogues, car finance, any account on which you borrowed money. If you find PPI, you could have a claim.

Or, why not talk to our team about our PPI finding and claim service? With no obligation to continue with a claim, you have nothing to lose!