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Archive for tag: PPI Deadline

Exercise Your Consumer Rights – Claim PPI Compensation BEFORE August 2019

Payment protection insurance - commonly known as PPI - is a financial product that will be forever known as the biggest mis-selling scandal ever to have rocked the British financial industry. But it is coming to an end. If you want to claim your money back, you need to do so before 29th August 2019 or face missing out.

Consumer _Rights

Within the UK, 24 financial firms are responsible for 96% of the claims with a variety of banks finding they have had to add considerable amounts of money to their PPI compensation pots - the Royal Bank of Scotland, for example, has added a reported £450million, while Barclays has added even more to its PPI compensation fund.

And why are banks adding funds to their compensation pots? Because customers are exercising their rights and asking for their money back - and you could be next in line to claim your money back with our help.

What is 'mis-selling'?

It is a phrase linked with PPI but what does it actually mean? PPI was mis-sold for a variety of reasons but essentially, it means that it is not suitable for many people.

Customers who, for example, were;

  • self-employed or
  • retired or
  • suffering from pre-existing medical conditions

and were sold PPIwould not have been able to make a claimunder the terms and conditions of the PPI policy as they were not covered.

And some of these terms and conditions also present many mis-selling issues - significant exclusions, such as pre-existing medical conditions were not fully explained to customers. Thus, when some customers thought they were covered, they were not.

Make sure you exercise your consumer rights

PPI was mis-sold on a large number of products to thousands of customers. If you have had a loan, credit card, mortgage, car finance, catalogue account with any company - or any combination of any of these products -  contact PPI Scotland.

How to claim your money back

You need to;

  1. Look through all your accounts on which you borrowed money- this means checking catalogue accounts, credit cards, loans and more. And check carefully as PPI was not always called PPI and neither will premiums always be obvious.
  2. If you find PPI, make a claim-even if you are unsure how or why it was mis-sold to you. The likelihood is it was mis-sold and you will be due to all your premiums back, and interest too.

Who we are

As a claims management company specialising in PPI compensation claims, we have helped thousands of customers to successfully exercise their consumer rights - and claim their money back. We charge a fee for our service but offer our expertise on a no win, no fee basis. Interested? Call us!

How to Claim PPI Compensation Before the Deadline

Even though PPI compensation has been around for years, it is about to end. The PPI deadline is only a few weeks away and that means people could miss out if they don't know how to claim PPI compensation.

We recap on what PPI is and how to go about claiming PPI compensation before the August 2019 deadline.

Deadline _clock

What is PPI?

PPI a specific type of insurance product that was sold alongside credit agreements, such as personal loans, credit cards, hire purchase agreements, car finance, catalogue accounts, store cards and many other kinds of credit.

It was originally designed to protect you, the policyholder, in the event that you were unable to make your monthly repayments on the loan. But, concerns were raised about how it was being sold and to whom, as well as its cost.

Why has the mis-selling saga lasted so long?

This is to do with the number of policies sold and the number of people duped into buying the policy by their bank or lender.

It is also because many people were mis-sold more than one PPI policy. Another reason is that the banks and lenders dragged their feet at the start of the process, hoping that the problem would disappear.

For many of the customers involved, they don't realise they have a claim for compensation, as they didn't realise they had been 'sold' it in the first place.

It didn't. 34 million PPI policies were thought to have been sold in the UK, affecting millions of customers.

The mis-selling problem

The way in which the PPI policy was presented to you at the time it was sold may be an indication of whether you were mis-sold it or not.

In some cases, the debate as to whether you were mis-sold the product or not can be complex. Thus, it is important that if you are unsure, you seek advice.

However, in the main, many customers were…

  • Told the purchase of the PPI policy was compulsory - it is NOT
  • NOT told the limitations, terms, conditions and exclusions of the policy - there were many and that means you probably weren't covered
  • NOT told of their eligibility to claim via this policy - in other words, many people were unable to claim on the policy as they simply were not eligible. Would you have bought it, knowing this?

But perhaps the worst-case scenario was when some customers, clearly making an emotive decision to borrow money were told that they were more likely to be accepted for finance if they took out the policy.

Claim YOUR money back

Don't let the bank get away with it!

Make sure that you check all the paperwork NOW for signs of PPI - should it be on there? Does it cover you for repayments on the loan etc.? Are you eligible to claim?

Why not let Payment Protection Scotland help you claim your money back?

Your Essential Guide to Making a Claim for PPI Compensation Before The PPI Deadline 2019

Making a claim for PPI compensation should not be complicated. In fact, most banks and lenders are now making a point of making the process of claiming compensation for mis-sold PPI before the August 2019 deadline as simple and accessible as possible.


But there are still some things you need to know. This is the only guide you will ever need to make a claim for PPI compensation, brought to you by our many years of experience in helping our customers make successful claims.

Tip 1 - Gather as Much Information as Possible

We find that the cases where there is a heap of information passed on to the bank or lender tend to get a quicker response. This is because the bank or lender has a minefield of information with which they can identify you, the customer, and your account.

If you can, find the original paperwork complete with policy numbers. Also, tell them when you bought it and how much your premiums were. Tell them the name of the policyholder too.

Tip 2 - Can You remember Why You Bought PPI?

This is the crux of any compensation claim. You need to tell the bank why you believe you were mis-sold the policy.

There are many reasons why, such as;

  • you didn't realise you had bought it - it was added to your account
  • you didn't need it because you had other policies in place that covered your income, rather than a debt
  • you felt that you had to buy it, or that it came as part of a package
  • you may feel that your application for a loan etc. would be turned down or viewed more favourably if you bought PPI too
  • you were advised to buy it but can't remember what the reasons were
  • you bought your credit card or loan online and didn't realise that it included PPI because the box was already ticked

Tip 3 - Be Confident

When you make a complaint about something, you need to approach the issue with confidence. You need to be clear about what you are complaining about, why the policy was mis-sold to you and that you want your money back.

Tip 4 - No Doesn't Mean No (Not Yet, Anyway!)

If the bank refuses your claim, you can ask the Financial Ombudsman to consider your case. They don't charge for their service but there is a considerable wait as many other customers who have their PPI compensation refused are also asking the Ombudsman to deal with their case.

Tip 5 - Our No Win, No Fee is a Fantastic Service

If you need our help, we are only a phone call away. We don't charge any upfront fees and you only pay us when and if your claim for PPI compensation is successful. Why not call us today?

PPI Deadline August 2019 – What Does It Mean?

You'll have heard the Financial Conduct Authority (FCA) bowed to pressure and introduced a deadline for PPI compensation claims. What does it mean?


The FCA up until 2017 or thereabouts, has always been quite clear that a PPI deadline was not on the cards. The banks had asked and pressured for a deadline on several occasions previously, but had always been decisively and sharply rebuffed.

Dragging on and on

The first PPI compensation payments were made in January 2011 and now, several years and £33 billion later, the FCA has decided that a deadline was needed to draw a line under the whole unfortunate and embarrassing episode.

A change at the top

Some commentators note that this conciliatory tone within the FCA has come about since a change in the head of the FCA. Outgoing head Martin Wheatley was stringent in his dislike for a PPI deadline and even less impressed by the banks calling for an end to the mess that they had effectively created.

The new head of the FCA appointed a year in January 2016, Andrew Bailey seems to have a less rambunctious tone toward the British banks and lenders.

Chaotic and deep

There are times when you could describe the PPI compensation process as chaotic.

Back in 2011, the banks made derisory offers of a few hundred pounds to customers who were owed thousands.

Then banks were suggesting that they didn't hold the information to give customers the details they needed to lodge a PPI complaint.

Customers were also having perfectly reasonable and obvious PPI compensation claims turned down thus, resources at the Financial Ombudsman were being swallowed by thousands of PPI compensation cases every month that should have quickly and easily resolved by the banks in the first place.

Then, it became clear that bank staff who sold PPI has made large commissions on sales of PPI something the Supreme Court ruled was unfair.

The PPI saga has also run into billions, with the current total standing at more than twice the budget for the Summer Olympic Games in London, back in 2012.

It is a deeper chasm of embarrassment than anyone could possibly imagine back in the mid-1990s when the sale of PPI was referred to the now-defunct Competition Commission.

The deadline stands

The deadline is confirmed and in place for August 2019. If you don't claim PPI compensation before this date, it will be too late. Call us now - we can help.

The 2019 PPI Deadline – What You Need To Know

You may have heard that there is a PPI deadline looming. It is only a few short months away.  In order to claim your money back, you must do so before the deadline expires at 11.59pm on 29thAugust 2019. This is what you must know about making a claim for compensation, and the deadline…


#1 The deadline has been set.

The deadline is firmly in place and for any consumer who thinks they were mis-sold PPI before the summer of 2017 and want to claim their money back, they must do so before August 2019.

The FCA and consumer group - and us - are encouraging customers not to leave their claim to the last minute. We don't know how well IT systems would cope if there is a flurry of cases lodged right up to the deadline and you wouldn't want to miss out on thousands of pounds of compensation due to a computer glitch, would you?

#2 This deadline doesn't include 'new' PPI claims.

If you were mis-sold PPI after July 2017, this deadline won't affect you. But the rate of new PPI sales is so low, this is unlikely to affect you.

This deadline is for PPI policies mis-sold before July 2017 and you have until 11.59pm on 29th August 2019 to lodge your complaint with the bank. Everything else stays the same - the bank has 8 weeks in which to respond and so on. If they refuse your claim, you can still take it to the Financial Ombudsman for their final judgement.

#3 Customers miss out. Possibly.

Some critics are already saying that customers could miss out on the money that is owed to them. The Financial Conduct Authority believes that there has now been a sense of apathy set in with compensation claims for mis-sold PPI and thus, by setting this deadline, customers will be stirred into action.

#4 Another deadline has already passed for many. Or has it?

Back in 2013, banks and lenders were instructed by the Financial Conduct Authority to write to all customers that they knew had a PPI policy and invite them to make a claim. They did this with thousands of people across the UK receive letters from their bank. Customers had three years from the date of the letter within which to make a claim and the first of these deadlines will start to expire in 2016. However, it seems that the FCA is encouraging anyone with a PPI policy to make a claim. Is this you?

#5 The numbers of claims being made per month still number tens of thousands

Many people think that this points to the numbers of PPI claim left as being low but this is not the case. There are still thousands of claim being submitted every month and even though the rate is slowing, the Financial Ombudsman predicts that there are still tens of thousands yet to be made - and some of these could be far more complex than early cases.

If you think you have a claim for mis-sold PPI, call Payment Protection Scotland for more information on how to make a claim.

Thousands of people yet to make a PPI claim and the PPI deadline is coming!

The announcement of a PPI deadline in 2017 shocked banks and consumer organisations, albeit for different reasons. The banks wanted the deadline to roll around sooner, but consumer organisations didn't want one at all, and certainly not yet!


Their argument was that only 4 in 10 consumers with a claim for PPI compensation had claimed their money back. Introducing a deadline, even it if was two and a half years away at the time, would be putting these customers at a disadvantage.

Claiming PPI compensation is YOUR choice

Banks and some other organisations, including the Financial Conduct Authority (FCA) say that claiming compensation for mis-sold PPI is a consumer choice. It is optional - you don't have to claim your money back.

But, argue consumer groups and financial experts, if people are unaware they have PPI, if consumers are unaware they can claim their money back then it is not a choice.

The FCA agreed and spent £42 million on an advertising campaign as part of the deadline, all with the emphasis of encouraging people to 'make a decision'. Some say this is weak, an ill-conceived advertising campaign that is yet to show any real results.

But why the FSO think so many people are yet to make a claim?

The Financial Services Ombudsmans (FSO) still think that the majority of customers are unaware banks added PPI to loans and credit cards automatically. And they also think that many customers will be aware that some of their other credit accounts, such as catalogues and store cards, would be affected by PPI.

Hence, the term PPI was not mentioned or discussed at the time you and other customers agreed to your loan. So how would you know to look for PPI?

What should customers do?

Asking your bank or lender if there was PPI on your loan is a perfectly legitimate questionand one which your bank must answer in a timely manner.

Whilst banks and other financial institutions bemoan the high level of fraudulent claims, the FSO disagreed with this back in 2013, saying the figure was as low as 3%.

The FSO has taken on hundreds of more staff to deal with PPI complaints being submitted. Some are startlingly simple and should have been resolved by the bank but, they say, many more cases are more complex than this.  They estimate that it will now take 12 to 18 months for PPI cases referred to them to be resolved.

In fact, the FSO is became increasingly impatient with the banks, highlighting the banks lack of depth in investigating PPI, being too quick to dismiss PPI compensation claims by customers. As a result, customers have no other course of redress left other than to refer their case to the FSO, adding to the massive case load it is now ploughing through.

If you believe you have a PPI claim, do not delay any longer - contact Payment Protection Scotland on how they can help you!

Rules for the PPI Deadline Date

You are probably aware by now that the Financial Conduct Authority has set a deadline for PPI compensation claims. In the summer of 2017, they launched their advertising campaign to inform people who want to make a claim for compensation about how to do this.


We think it is important that you understand the ruling behind the deadline and why it is important that you don't wait to make a claim for PPI compensation but start your claimas soon as possible.

When it the deadline?

The FCA has decided that the deadline for PPI complaints is 29th August 2019. It is a Thursday and customers have until 11.59pm on that date to make a complaint.

Don't wait

Don't wait to make a complaint as the FCA, along with most banks, believe that there will be an influx of claims for PPI compensation. It takes time for cases to be assessed and providing you have your claim to your bank by 11.59pm on Thursday 29th August 2019, the bank or lender is duty bound to assess your case.

Ways to complaint

If you decide to make a claim, you need to remember that:

  • By post - your letter or PPI claim form for your lender will need to reach them on or before 29th August 2019. Postal claims received from Friday 30th August will NOT be considered.
  • By phone - some lenders and banks have PPI helplines through which customers can make a claim but these will close before midnight. If you leave it too late, you will miss out.
  • Online - if there is an increase in submissions made online on the 29th August, you may find that the bank or lender websites will not be able to cope with the volume of users. If the site crashes, you may find you are unable to lodge your complaint in time.
  • Claim management companies - CMCs such as ourselves will, no doubt, set our date by which we can accept and process PPI compensation claims near to the deadline. To take advantage of our service, you need to contact us straight away to get your case moving.

This deadline is for PPI claims on policies that were sold before summer 2017. Anything sold after that time which the customer believes has been mis-sold will be dealt with separately.

How to claim

Check that you have PPI on loans, credit cards, store cards, catalogues, car finance, any account on which you borrowed money. If you find PPI, you could have a claim.

Or, why not talk to our team about our PPI finding and claim service? With no obligation to continue with a claim, you have nothing to lose!

The FCA’s PPI Deadline Campaign – Will it Work?

It features and animatronic head of Arnold Schwarzenegger which, say the advertising firm behind the campaign, will 'cut through the noise' surrounding PPI. In other words, they say that our identifying with a well-known Hollywood actor will help us to make a decision about whether we want to claim PPI or not.

If you do, you need to make a claim before 29th August 2019. But will the advertising campaign work? Will it galvanise people into action? Or will the British public still be apathetic about making a claim?

Will it…

Mean more nuisance texts?

Some experts believe that any good effect of the advert will be negated by the fresh wave of nuisance texts and calls from some claim management companies and other firms.

Unfortunately, these spam texts and calls have put many people off from making a claim because they seem to promise the earth but deliver very little.

Claim management companies can, however, be a great tool for some people to use for their PPI claims. Always check the company and look for one that offers a no win, no free service and promise a no obligation chat so that you don't get in tied in. It goes without saying: check their fee structure too!

End indecision?

It may have the required effect on people so that as many people as possible claim their money back. PPI was mis-sold to millions of people, with around 64 million policies sold. In our experience, we find that people are unsure about how to find out if they have PPI.

With your authority, we can find out if you have PPI and on what account(s). You then make the decision whether to make a claim or not.

Be taken seriously?

It's hard to tell. At the time of publishing, the adverts had only just hit our screens being shown in prime-time evening slots in between the nation's favourite programmes and soap operas.

The advert aired several times in one night. Hopefully, there are other versions of the advert and that there will be splurges in the promotional side of the campaign. It may be that the adverts become too frequent, leading to more complacency.

Success will be measured by an increase in both people making claims and those who choose to explore whether they have a claim or not.

Work? Hopefully, people will be galvanised into action to find out if they have PPI. The first step is to find out if you have PPI and we can do that for you. For more information about our no win, no fee service, call us today!

PPI Deadline: How to Make a Claim *A Refresher! *

With the PPI campaign about to start, the two-year countdown to the August 2019 PPI deadline is underway.

We thought this was a good time to remind people of how to make a claim.

What is PPI?

PPI stands forpayment protection insuranceand is aninsurance policythat covers your repayments on loans, mortgages etc. should you be unable to make them due to changes or reductions in your income. This lack of income may be due to you being unable to work as a result of sickness, unemployment or redundancy.

You will know if you have PPI (but it may be called something else!) by looking through the agreements and other documentation that came with your loan etc.

What is the problem with PPI?

The idea of insuring your loans against income loss is not a bad idea. The problem stems from the mis-selling of PPI to millions of customers - around 12 million customers, to be more precise.

Bank representatives were paid on a commission basis and this product also provided a massive profit to the banks too. Other problems were:

  • Mis-selling- customers were sold policies that they could not claim on
  • PPI cover runs out- single payment PPI (now banned from sale) was added to a loan as an upfront lump sum fee BUT the cover ran out after 5 years, often falling short of the length of the loan e.g. you would not be covered for the final 5 years, of a 10-year loan
  • Over-priced- many PPI policies were cost far too much compared to the amount of the loan they were meant to cover
  • Limited pay-out period- many customers did not realise that PPI only paid out for a relatively short period of time (usually 12 months)
  • Low cover level- on credit cards, for example, PPI only covered the minimum monthly payments meaning the balance would not be reduced.

How do I know if I was mis-sold PPI?

You may have been mis-sold PPI if:

  • It was NOT made clear PPI wasoptional
  • You were not told of significant exclusions
  • That you would be paying interest in the single payment PPI added to your loan
  • You were not made aware that the cover would 'run out' before the end of the loan it was should be covering
  • If you were advised to take out PPI, then you should have received a written statement as to why the policy was suitable for you
  • You were not told that the PPI policy was being added to your loan or mortgage etc.

How can I claim PPI back?

You can start the claim process yourself or you can come to a specialist like us, PPI Scotland and we can take you through the entire process.

We do charge a fee for this but with thousands of satisfied Scottish customers, there is nothing stopping you from having a no obligation chat with one of our team. Call us and talk through your case with one of our friendly advisers.

PPI, the 2019 Deadline and Your Money

The Financial Conduct Authority, the regulator of the banking and financial industry in the UK, is cutting off compensation claims for mis-sold PPI.

This means that after August 2019, you will not be able to make a claim for PPI compensation for a PPI policy sold prior to spring 2017. If you felt you were mis-sold PPI recently, this is not subject to the deadline.

There have been many changes over the years which now mean that there are key points you need to bear in mind now that the deadline for PPI compensation claims has been confirmed:

#1 Just having PPI means it was probably mis-sold

The outcome of the Plevin case - a customer who argued that by not being told the vast amount of commission her broker was being paid, meant she was duped into buying an overly expensive policy - now means that most people were mis-sold PPI.

Staggeringly, 67% of loan PPI was paid in commission and interest which means that you were paying for others to line their pockets. And because the bank didn't tell you, the courts have now ruled that this is another reason why PPI was mis-sold.

This effectively means that billions more is owed to customers across the UK but with many people still struggling to make a PPI compensation claim, it seems unlikely that everyone will get all their money back.

#2 The deadline may seem a long way of but…

… get your complaint made now and beat the queue! The activity around PPI compensation claims is likely to build as the deadline approaches.

The FCA has also promised an all-encompassing promotional campaign to make people aware of the impending PPI deadline and what they can do to claim their money back.

#3 There are still concerns relating to vulnerable people and their claims

From people with debt to people with learning difficulties as well as the elderly, many consumer groups have raised concerns that the deadline will adversely affect people who may not be able to make a claim.

The FCA has promised it will look at the process and ensure that everyone with a claim gets their money back and that it does not come down to people who 'can' and people who 'cannot'.

#4 Don't assume 'it's not me'

People from all walks of life were mis-sold PPI on loans, credit cards, catalogues, store cards and more. Sometimes, PPI was added without your consent or your knowledge. 

And when it was knowingly sold to you, there were many things the bank or lender did not tell you about the policy. Although it was not the policy at fault, the way in which it was sold and the extortionate premiums made it a problem.

#5 A typical payout Is around £3,000

What are you waiting for? Start your claim today.