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Archive for tag: 2019 PPI Deadline

Your Step-by-Step Guide to Claiming PPI Compensation BEFORE the August 2019 PPI Deadline

The PPI deadline of 29 August 2019 will start to get more air time in the coming months with the proposed launch of the FCA-led campaign relating to PPI and how to make a claim.

At Payment Protection Scotland, we have always been clear, open and transparent about how to make a claim but we thought we would take a moment to remind you of the steps and some key facts along the way;

Step 1 - Find the paperwork

It may take you some time but finding as much paperwork and documentation as you can regarding your loan, store card, credit card, catalogue accounts etc. will help you when it comes to submitting your complaint regarding PPI.

Key facts;

  • It may not be called PPI- it could be called something such as accident and sickness insurance, or card care, or payment insurance.
  • There is no time limit- you can go back year on yearproviding you have the evidence
  • Lenders can provide evidence- if you don't have the paperwork, you can ask your lender for a copy as they do have it (even if they try and tell you different!). They will only have it for the past 6 years hence this is why some people think that PPI compensation only goes back 6 years and no more.

Step 2 - Deciding if you were mis-sold it

They may have told you it was compulsory or given you the impression you had to buy PPI in order to be accepted. It may not have been suitable for you, e.g. you were too old, too young, unemployed, self-employed…

There are many reasons why PPI could have been mis-sold to you. Our team can help.

Step 3 - Do it yourself or use a claim company

Some customers lodge and shade their own PPI complaint. Other people choose to use a claim management company such as ourselves.

The choice is yours but to help you make the right choice for you, check:

  • How much the company charges
  • Whether they offer a no win, no fee service
  • Avoid those that 'promise' or 'guarantee' success
  • Their success rate and assessment process at the start your case

Step 4 - Expect rejection

Not all banks and lenders hold their hands up the first time and admit they made a mistake. Some try to argue that PPI was right for you.

Don't allow the lender to put you off.

Step 5 - Still not happy? Lodge a complaint with the Financial Ombudsman Service

You will need to lodge a PP complaint with your bank or lender first but if they refuse your claim, you can ask FOS to take a look at your case and make the final decision.

Don't wait for the PPI deadline, start your PPI compensation claim today!

Has the June 2019 PPI Deadline Been Confirmed?

With so much alleged 'fake news' swirling around, it is increasingly difficult to know who or what to believe.

This is why at Payment Protection Scotland, we have put together this quick 3 minute read on the proposed PPI deadline and what it means.

Is there a deadline in place?

The June 2019 deadline was proposed by the finance industry watchdog, the Financial Conduct Authority (FCA), back at the start of August 2016.

As yet (March 2017), there has been no firm confirmation of the deadline. But, most people think that the lack of news or further updates means that the deadline will be announced alongside the start of a promotional campaign to make people aware of PPI and how to claim.

Why impose a deadline?

The arguments around PPI and the 'how and why' it was being sold to customers was first raised in the mid-1990s but it wasn't until January 2011 that the first PPI compensation payments were made.

Since then, it is fair to say that there has been an avalanche of claims that is costing the banks and lenders dearly - around £24 billion, in fact, thus far. And there are more claims to be made.

Is everyone in favour of a June 2019 PPI deadline?

There are critics on both sides of the fence.

Some financial experts think that there should be no deadline. They say that as yet, only 40% of people with a genuine and eligible claim for PPI compensation have made a claim. That leaves another 60% of people yet to claim.

If all these people were to make a claim between now and June 2019, the system would be flooded and possible unable to cope with the volume of PPI compensation complaints.

Critics also say that banks haven't done much to allay fears that it could happen again. And some banks and lenders have not always been upfront and honest in their compensating endeavours. Consumer groups and critics worry that banks may try and drag out claims beyond June 2019 and then decide not to pay customers.

Banks are not in favour either.They would prefer a closer deadline and were hoping to have a line drawn under the PPI saga by the end of 2018 at the latest.

What does this mean for PPI claims now?

Until there is confirmation of a PPI deadline, consumers are being encouraged to continue lodging complaints for PPI compensation, if they have the grounds to do so.

And with our help, within weeks you could be enjoying the fruits of your PPI compensation. Don't wait for the June 2019 PPI deadline - start your claim today. Call Payment Protection Scotland today!


The June 2019 PPI Deadline – Will it Happen?

When the Financial Conduct Authority (FCA) announced they were consulting the banks, lenders and consumer groups on imposing a PPI deadline, there were arguments and counter-arguments for and against the move.

With the consultation period expected to end on October 11th this year, many people are left wondering, will the deadline be imposed. And, if it is, what will the next two years look like?

Why impose a deadline?

Up until this recent announcement by the FCA, there had been widespread derision about the idea of imposing a PPI deadline. The banks, as you would expect, had been lobbying for a PPI deadline for some time.

Many consumer groups were - and still are - against a PPI deadline and underlying their argument, is one key fact, as they see it;

The poor PPI compensation claiming process that banks and lenders present to the customer

Some consumer groups, such as 'Which?' say that the PPI compensation process direct from banks, lenders and financial institutions are not clear. The process is also long and cumbersome, especially when, the consumer groups say, that the banks already know who they owe money too.


In most cases, if someone has a PPI policy, they will be due compensation. Although there are millions of PPI policies sold - 53 million approximately - not everyone is due compensation; that said, the vast majority of these 53 million policies have been mis-sold to people.

However, the PPI mis-selling saga had been running for some time now and, say the banks and lenders, there is a state of apathy amongst the British public.

It is easy to see why. With the story of thousands of people claiming their money back almost looking too good to be true, many people assume that it is. After all, don't good luck stories happen to other people…?


Although the FCA say there is going to be a marketing campaign to ensure that everyone knows about the deadline and how to claim their money back, many people are simply unaware that they have a claim.

This is because PPI was added to their accounts after they had taken out the credit product. This also happened with online credit card applications in which the 'opt in to PPI' box was already ticked. If you failed to read through the reams of small print, you were unlikely to come across it.

Will the PPI deadline of June 2019 happen?

There seems to be agreement that a PPI deadline will now happen and the FCA has muted the idea of June 2019. The banks want to impose a shorter deadline but consumer groups say that if a deadline must be imposed, the further away it is, the better.

But don't wait to make your claim for PPI compensation - call Payment Protection Scotland today.