Please bear with us while the banks take longer than usual to process high volumes of last minute claims
The FCA inform us that due to the high volume of last minute claims, many banks could now take at least three months to trace PPI and 24 weeks or more to investigate mis-selling where PPI is found. We are in constant contact with the banks and will update you as soon as we hear more. Most correspondence from banks comes via FindyourPPI as your appointed agent. If you receive any correspondence directly from the banks, however, please upload a copy of it using your mobile phone or tablet using our uploader here https://findyourppi.com/uploader so that we can guide you on next steps.
Unhappy with the outcome of your claim?
If you don’t agree with the banks decision, you have the right to escalate your claim to the Financial Ombudsman Service (FOS). You don’t have to use a claims management company to do this, you can access FOS for free at https://www.financial-ombudsman.org.uk/faqs
Finance Company no longer trading?
You may still have the right to refer your claim to the Financial Services Compensation Scheme (FSCS). As claims through the FSCS are not affected by the 29 August 2019 PPI deadline, if you would like us, as a claims management company to help you to submit a claim, please contact us at (insert link to contact page).
You don’t have to use a claims management company like FindYourPPI or pay a fee to do this. More information can be found at https://www.fscs.org.uk/what-we-cover/ppi/
What was PPI?
PPI, or Payment Protection Insurance, was an insurance product sold between 1980 and 2010 that was designed to cover Credit Agreement repayments. In reality, it was highly expensive with huge commission charges and it was very rarely appropriate. Many people didn’t even know it had been added to their agreements! £50 billion of PPI was underwritten by the insurance industry. It is estimated that, £40 billion will have been paid back in compensation, although half of this was for interest payments. So in reality, less than half of PPI premiums were paid back. Although everyone has the right to make a claim against a lender, directly or in court if they believe they were sold PPI unfairly, the FCA PPI claim scheme ended on 29 August 2019.