Update on Your PPI Claim
Conscious that you still have at least one PPI claim outstanding, we are writing with a general update on the progress with the banks.
The impact of the Coronavirus pandemic has proven to be a severe challenge for all of us in many different ways. The initial government lockdown between March and June 2020 slowed down PPI investigations at the banks considerably; operations which were already struggling to cope with the unprecedented volumes of PPI complaints up to the 29th August 2019 PPI deadline were further impacted by the shutdown. The banks had to develop new procedures and processes to enable their employees to work from home and, inevitably, this has had a significant impact on the timescales by which they investigate and make a decision on PPI complaints, leading to a situation where, more than 12 months after the deadline, they still have a significant number of unresolved cases.
When it became obvious, following the huge increase in complaints related to the PPI deadline and the devastating impact of the Covid-19 healthcare crisis, that the normal eight week deadline to review and respond to a PPI Complaint was no longer realistic, the Financial Conduct Authority instructed Claims Management Companies to provide extra time for the banks and lenders to complete their investigations and return their responses.
We are in regular communication with management at various financial institutions, to encourage effective and efficient ways of completing all outstanding investigations:
- If you are yet to find out if you had PPI, we are encouraging banks to work with us in finding the best solution to return these results to us as soon as they can so that they can get on with investigating mis-selling where PPI is found. It is already clear that these remaining cases will not necessarily be returned to us in the date order that they received them, with some cases taking much longer for the banks to process than others, so we do thank you in advance for your patience. As soon as we have an update or a response for you, we will be in contact.
- If PPI has been located and you have submitted your complaint, we are working closely with the banks to find smarter and speedier ways for them to process these PPI complaints, so that, if your complaint is upheld, you can receive payment as soon as possible. If your complaint was submitted more than eight weeks ago, you should have by now received an acknowledgment, and/or communication from both the Bank and FindYourPPI. This means that your complaint is being investigated by the bank, and they are working on getting a final response to you.
If you receive any direct communications from your bank, please send us a copy, by using your mobile smart phone, and going to www.findyourppi.com/uploader so that we can advise you on the next steps.
We thank you for your continued patience during these testing times. In the midst of the current health crisis and with the significant number of outstanding PPI complaints we do anticipate further delays at the banks. Please rest assured however, we are still working hard on your behalf and we will update you as soon as we have any confirmation or feedback from the banks. In the meantime, if you do have any questions for us, please do not hesitate to contact us by going to contact , where you will also find a number of our frequently asked questions and answers. Alternatively, you can reach us directly by emailing [email protected].
You can find the latest Government advice on how to remain safe here.