If you have been mis-sold PPI, you may be entitled to compensation. As one of the leading PPI claim companies in the UK, we at Money Back PPI can inform you of your next steps and help you reclaim £1,000s on your behalf.
Do you think you’ve been mis-sold payment protection insurance in the past? If you have bought any kind of credit before 2006, then there is a possibility that you have been mis-sold PPI. The Financial Conduct Authority (FCA) have put a deadline in place, 29 August 2019, by which you must submit a claim if you want to receive compensation for being mis-sold PPI.
We are here to help, so check out some of our PPI guides here and get in touch to talk to one of our expert team members.
You can also check out our FAQs here.
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Our PPI guides can provide you with all of the information that you require, to ensure that you know everything you need to in order to effectively claim back your PPI. We can provide you with guidance on how to check if you have been mis-sold PPI in the past, how to find out who your lender was, and who to turn to when it comes to making a claim, all within our extensive PPI guides.
The acronym ‘PPI’ stands for Payment Protection Insurance and was a policy often sold with loans, mortgages and forms of credit including credit cards, store credit and in some cases, payment plans. It was also available as a separate purchase, though in most cases, PPI was bought alongside other financial products.
With so many PPI claim businesses stating their professionalism, we understand it’s hard to consider the right one. However, doing your research beforehand could end up saving you £x,xxx’s in the long run.
Part of our process includes looking for the key features of ‘Payment Protection Insurance’. This can indicate whether or not you have been mis-sold PPI and in turn give evidence to back up your claim.
Payment Protection Insurance (PPI) is a form of financial protection. This means that should someone be affected by illness or redundancy, their PPI would be financially supportive.
With PPI claims stretching back as far as the 1980s, thousands of existing and potential claimants are currently asking themselves ‘how far back can you claim PPI?’ in the hopes that they might be able to make a claim for themselves. Thankfully, the answer is in their favour.
The average payout for credit card PPI claim applications is ultimately dependent on the policy you were paying for, how long you were paying for it, the cost of the premiums, card interest rate and credit limit.
While it’s often difficult to find existing records of loans or credit taken out over 20 years ago, the age of a PPI claim may not necessarily mean you won’t be successful. If you have the paperwork on hand to provide the necessary details where needed that would be helpful.
While it’s impossible to put an exact date on every situation as every case is different, there are deadlines in place not only for claims to be made, but deadlines on how long banks can take to respond.
As a result of this sudden rush of claims, the Financial Conduct Authority (FCA) introduced a cut-off point in order to prevent banks from having to continuously pay out for these claims. The PPI claims deadline day is officially the 29th August 2019, so if you believe you may be entitled to compensation, the time to take action is now..
We put our expertise into your case to help drive it forward and improve the chances of success for your PPI claim. However, with the sheer number of PPI companies available today, the question that remains is this – which PPI claims company charges the least?
If you have been mis-sold PPI in the past, then you may be entitled to compensation. While claiming PPI compensation can be a complicated affair for some people, we’re here to help.
Unless you have been avoiding the news, you would have certainly heard about the PPI scandal which led to thousands of people being mis-sold PPI. Due to this scandal, banks set aside a large sum of money specifically for PPI claims.
If you owe the bank money, there is nothing stopping you from making a claim for PPI regardless of the status of the loan or credit in question. For those who are paying off their debt in regular payments, making a PPI claim for compensation is as simple as any other payment claim.
We understand that it can be a little confusing to determine the status of tax on a PPI claim, so to make it clear – you will owe tax for the tax year you receive your compensation in.
Before making a PPI claim, many are concerned how this may affect their relationship with the lender. If they still have loans or debts with them or use them as a regular banking service. Thankfully, those who may have these concerns can rest assured that making a PPI claim will not have an adverse effect on their relationship with the lender.
Even if there is no company to contact regarding a claim, you may still be successful when making a claim through the Financial Services Compensation Scheme (FCSC).
The Financial Ombudsman Service (FOS) was set up by Parliament to provide expert help in dealing with and sorting out issues related to the UK’s financial services and their consumers.
Guides On Claiming Back Your Mis-sold PPI
Our guides on PPI can help you to have a further understanding of what payment protection insurance is, and whether or not you may need to make a claim. Many people are unsure as to whether or not they were mis-sold PPI, as for many individuals, the discrepancy may have occurred over 10 years ago.
With no limit as to how far back you can claim PPI, you can be sure that our guides on PPI will provide you with all of the information that you need. We can help you to bust the jargon, understand some of the complex legal terms, and even provide you with further information on what to do if your claim is rejected. With the Plevin ruling offering a brand-new range of guidelines put in place by the FCA, you may even be able to resubmit a previously rejected claim.
Find out more about reclaiming payment protection insurance and submitting a claim with our PPI guides, today.