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Scotland Wide PPI Specialists

There is Still Time to Claim PPI

11 April 2016

Even with a possible deadline looming, there is still time to make a claim for PPI compensation.

With the announcement at the tail end of 2015 that the Financial Conduct Authority was to consult on a PPI deadline, many people assumed that the time limit imposed would be sooner rather than later.

Certainly the banks have pushed for a deadline, concerned at the open ended nature of compensation claims for mis-sold payment protection insurance (PPI). They would like the run down to the deadline with be fairly short but the rumours are that the end of summer 2018 will be the deadline.

There has been no announcement yet and when there is, you can be confident that Scottish PPI Claims will be at the forefront of making sure that anyone with a PPI compensation claim knows how to make a claim.

Why wait for the PPI deadline?

However, rather than wait for the announcement and be part of the scrabble to ensure your claim is submitted before the deadline, why not make your claim now?

With our service, you will understand what we need from you and how we make a claim on your behalf:

Spend some time sifting through paperwork

First and foremost, you need to understand if you have a PPI policy connected with any of your credit accounts. This means sifting through the paperwork of any credit cards, store cards, catalogue accounts, car finances, secured loans, unsecured personal loans and mortgages too.

Look for a product that promises to cover your debt

PPI was fixed to a debt which is one of the reasons why it was such an inflexible product. However, not all policies will be named as PPI; some companies and lenders gave their PPI product its own name. For example, 'store card care' and so on. Look for a policy that is in addition to your loan.

Premiums were not always separate either

Some people expect to see a separate payment for PPI but again, this was not always the case. There are cases where PPI was an integral part of the loan agreement that it was barely mentioned as being part of the loan. Thus, the premium you paid every month may have included the PPI premium too.

Can you remember how it was sold to you?

Some people think that because they cannot remember how PPI was sold to them that they do not have a claim. This is, in fact, one of the many reasons why PPI was mis-sold to thousands of customers.

Start your claim today with Scottish PPI Claims.