- 5 million will be prevented from claiming compensation for mis-sold PPI by Spring 2
- The FCA has set a final claim deadline of 29 Aug 2019
- Average compensation payments are over £2,000
- 12 million people have received compensation already
Checking for PPI can be a hassle! We can do the hard work for you
The Payment Protection Insurance (PPI) scandal continues to rumble on but for millions of people the clock is ticking. Under Financial Conduct Authority (FCA) rules they will lose their right to claim if their bank has already contacted them about their PPI because they then had three years to claim.
If you are unsure if your bank has contacted you it is vital that you take immediate action.
PPI was sold alongside credit cards, personal loans and mortgages in the 1990s and 2000s and was designed to cover repayments if the customer became ill or lost their job. However, many were unaware that they had it, and for some like the self-employed it was not even appropriate.
Why should I claim?
Banks have set aside billions of pounds to compensate customers. Thousands are claiming every day and last year compensation payments averaged over £10 million every day.
The average claim was worth several thousand pounds, a welcome boost post Brexit when the cost of living has started to rise. Many have used their compensation to buy new cars and enjoy dream holidays.
Isn’t it difficult to make a claim?
Making a claim for PPI compensation can take time, especially if you are not sure if your had it with any loans, credit cards, mortgage or store cards. You could rummage through old paperwork from your lender to see if you had it but there is quick alternative.
1stopmoneyppi.com offers a FREE PPI Check to help you find out. Simply complete a short form online and team behind the 1stopmoneyppi.com will do the hard work for you and pass your details to a registered Compensation Management Company who can handle everything for you.
Getting your PPI cash refunded this way will make you happy
Remember, the PPI countdown has already begun for millions of people already, possibly you. Anyone who thinks they may have a claim is advised to start the process now before it’s too late.
If you are in any doubt about your eligibility to claim compensation start your claim now.