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Were You Mis-Sold PPI? If So This Is All You Need To Know About the PPI Deadline

PPI Deadline All You Need To Know
Uploaded by: EMCAS 18.07.2016
If you were mis-sold Payment Protection Insurance (PPI) then you may be entitled to compensation. But time is running out, due to talks being held about introducing a deadline to claim back PPI - so don’t put it off.

(1) The Financial Conduct Authority (FCA) has suggested a possible PPI deadline for sometime in 2018 for any ‘payment protection insurance’ left to be claimed back. This is something that banks have encouraged, and pushed for as they aim to limit their losses and bring the scandal to an end, despite the consequences for those affected.

Rightly or wrongly it seems as though a conclusion may be in sight. So if you are yet to check you need to make sure you don’t miss out, and not leave behind money that you could be rightfully be owed.

(2) According to the FCA, over 16.5 million cases have been raised so far, with 75% upheld. This has meant more than 12 million mis-sold consumers, have received over £21 billion as a result of mis-selling.

There are thought to be around 5.5 million people considered at ‘high-risk’ of being mis-sold PPI that have not yet complained, leaving the FCA to comment that ‘the majority of the PPI policies sold have not been complained about’, meaning the banks still have money that is rightfully owed possibly to you!
 

Am I eligible to claim back PPI?

With the PPI deadline looming, there is no better time to consider making a claim. In most cases, banks sold PPI alongside financial products such as loans, credit cards and other credit agreements. The problem is, many banks and building societies did not fully inform customers about the product and the clauses in place. Meaning that PPI was taken out by many people, despite them not being aware of able to claim on the PPI if they ever needed it.

If you have ever taken out Payment Protection Insurance, think about how it was sold to you:

  • Was PPI fully explained in detail to you at the point of sale?
  • Were you fully informed of all of the terms and conditions of making a claim, and if that would place any restrictions on your ability to do so?
  • Were you made aware of PPI on your credit agreement?

If you are unsure about any of the above questions, now is the time to get in touch with the financial claims experts at EMCAS.

How can EMCAS help me?

EMCAS make it easy to claim back mis-sold PPI with no paperwork needed for most major lenders. We do all of the work from start to finish, so that you don’t have to, taking the hassle out of the process and leaving you assured that we will seek the best possible outcome for you. EMCAS operates on a no win no fee basis* with no hidden costs or upfront fees, so don’t hesitate to contact us to start reclaiming what you could be owed.

You can start your PPI claim via our easy-to- use online form, to request a free assessment to check if you could be eligible to receive a PPI refund - without needing any paperwork at all. Our trained advisers will then analyse your case and take care of the details from there. To hear how we’ve helped other people to make a claim, read our successful PPI customer stories here. And without further delay, get in touch today.

If you would like to talk to one of our experts, you can request a call back on here or call us direct on 0800 0934 309. As well as PPI, our experts are also trained to deal with a whole host of potentially mis-sold financial products including PPI, Pensions, Savings and Investments, Packaged Bank Accounts and Endowment Mortgages.

If you have any questions at all, please don’t hesitate to get in touch.

*Subject to fees in the event of cancellation. Please see our Terms & Conditions for further details.

 

(1) Evening Express: https://www.eveningexpress.co.uk/pipe/news/business/ppi-firms-should-fund-42m-claim-deadline-awareness-drive-says-watchdog/ 

(2) FCA: https://www.fca.org.uk/news/statement-on-payment-protection-insurance-ppi

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