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.
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!