TIME IS RUNNING OUT: THE PRESSURE IS ON TO PRIORITISE PPI

Pub: Thursday, August 22, 2019 10:18 AM   |   Upd: Thursday, August 22, 2019 10:18 AM
 
 
 

Sheersha Khobor Dot Com

There is less than a week until the 29 August 2019 PPI complaints deadline and the Financial Conduct Authority (FCA) is encouraging consumers to complain about PPI now – before the time is up.
An estimated 64 million PPI policies were sold in the UK – the majority in the 1990s and 2000s. Products that commonly had PPI attached include loans, mortgages, credit cards or store cards. The FCA website includes a comprehensive list of providers that have sold PPI https://www.fca.org.uk/ppi/how-to-complain/search-for-provider. This includes high street stores, catalogue firms, building societies and supermarkets.
Providers have online tools that make PPI claims simple and will help you through the process. It’s free to do yourself and you don’t need to worry about paperwork. You just need your date of birth and previous home addresses to get started.

Consumers who haven’t complained to their provider by 29 August 2019 won’t be able to claim money back for PPI. FCA support is available online at fca.org.uk/ppi or by calling the FCA helpline on 0800 101 8800.

Emma Stranack, FCA’s PPI Deadline Campaign Lead, says: “Now is the time to act and the FCA is prepared for a last-minute flurry of enquiries. We’ve extended our PPI helpline hours to 8pm on weeknights and 5pm on Saturdays to provide further support to consumers and will be available for calls on bank holiday Monday. Ultimately, we don’t want the UK public to miss their chance to decide.

“So, if you think you might have had credit with a PPI policy attached – particularly in the 1990s or 2000s – now is the time to get in touch with your provider. You need to submit your claim by 29 August, or you won’t be able to claim money back for PPI.”
A total of £340.4m was paid in June 2019 to customers who complained about the way they were sold PPI. This takes the amount paid since January 2011 to £36bn. FCA figures show the regulator has had more than 5.1 million users access the PPI website and it has received 84,733 calls to its dedicated contact centre to date. In the past eight weeks since the FCA’s final burst of advertising went live the FCA has seen a 420% increase in web users, and 269% increase in calls, compared to the previous eight weeks.

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