PPI Claims - Deadline passed
Payment Protection insurance was a type of income protection attached to finance such as credit cards, loans and mortgages. A total of £38.3 billion has been refunded in compensation between Jan 2011 and Dec 2019
What is it?
What is a PPI Claim?
PPI, or Payment Protection Insurance was an insurance product attached to finances including credit cards, loans, mortgages, car/furniture finance and/or store cards
The PPI mis-selling scandal was the biggest of it's kind with nearly every single UK financial institution, including insurance companies involved at some level. Due to the unprecedented level of these claims the vast majority of the UK adult population was affected in some way. PPI sales dated back to the 1970s and continued to be made right up until the scandal was exposed in the late 2000s. Nowadays you would be hard pressed to find a payment protection insurance policy available to purchase as nearly every provider removed them from their sale's channels. Still to this day individuals are being charged for their policies, sometimes unknowingly. And whilst the refunds for PPI compensation is in the billions, the profit made by the seller may have long exceeded that and is still being accounted for.
If you are wondering if you were affected then ask yourself if you ever had a loan, credit card, mortgage or overdraft before 2010 and the answer is more likely that you were. The FCA announced in 2017 that the deadline for PPI claims was to be the 29th August 2019, meaning if you are still yet to claim then unfortunately the opportunity has been missed. If you submitted your claim prior to the deadline and you are still awaiting a decision, there is no reason to worry as your case will receive a fair outcome. If you received compensation since 2016 then you may very well be eligible to claim back the tax you paid on the refund, find out more here.
Who was affected?
Who was affected by these financial claims
The majority of the UK adult population have had some form of finance whether it be long term mortgages or simple safety overdrafts you could have had PPI applied. The compensation awarded so far is a staggering amount which no one really expected and is still continuing to grow
Over 50
The one's who deserve a break
If you've had a PPI policy dating back to the 1970s that means you could have paid up to 50 years in premiums. Add on the compensatory interest to your refund and you start to understand why some of the refunds we've got for customers have been in excess of £20,000
Under 50 but over 18
The sweet spots
Selling of PPI was at its most prevalent in the 1990s and 2000s, so if you had finance or even multiple finances during this time then you may very well have been affected
The In’s and out’s
PPI claims are adjudicated using a prescribed format from the FCA
You do not need to use a claims management company to make a PPI claim and if you are not successful you can refer your claim to the Financial Ombudsman Service, free of charge
Average Payout
The average payout for our successful customers is £1,095 per claim. Meaning if you have multiple claims you could be due this many times over. Our highest payout to date is £84,948.92
Success Rate
90% of our customers have been successful on at least one of their claims, meaning you are more likely than not to receive a refund when you use our PPI claims service
Quick payout
A lot of financial providers after their decision give a maximum 20 working days to payout, meaning you could have your refund in less than a month after your decision
PPI - Deadline Passed
Payment protection insurance claims had to be made before the FCA imposed deadline of 29th August 2019. Don't worry if you got yours in before then as your case will be considered
We helped over 14,000 get the money they deserved
Customers making claims for the first time and customers that had previous claims fall through have all had success through ourselves and are now thankful they got there before it was too late
We have won over £14,000,000 in PPI
…And counting. Delays caused by the sheer volume of complaints before the deadline compounded by the Covid-19 pandemic caused unexpected delays meaning we still have a good amount to go for our customers
Who was it?
What companies did we claim against?
