If you have known for a while that you have been mis-sold PPI, but haven’t been doing anything about it to get your money back from the bank, then do know that you do not have forever to make your claim. The banks as well as the courts have set deadlines for the PPI sold in different years, and depending upon which year your case is tied to, acting accordingly is important.
If you have any doubts or questions, getting in touch with the bank who sold you PPI is a good idea as that would help you get the answers you need to start the claim process without any delay. With the interest of over 8 percent added to the principal amount you have collectively paid for PPI premium, it becomes a lump sum amount that you just cannot give away just like that. So, claim your PPI refund today before it is too late.
Here are some of the things you might not know about PPI deadline –
- Till now, there is no deadline set for people looking to make a PPI claim. But, there are chances that the deadline will be set to approximately spring 2018.
- The deadline set will not be known until the end of 2016. The deadline of spring 2018 will allow people to claim compensation on mis-sold PPI for another two years.
- The Financial Conduct Authority believes that by setting a deadline, people will be encouraged to get back their compensation of PPI claims.
- There are still thousands of PPI claims being filed on a daily basis. While many believed that the numbers are starting to decline, the truth is that more people are becoming aware of it and making claims at a much faster rate.
These are the few facts you have to keep in mind in order to make sure that your claim filing does not get delayed. It is important that you do your research, consult with the bank and the PPI claim expert or company and start the process. Once you start the process, you would find out that it is much easier than you earlier thought. The people who have lost their money on PPI are now getting it back fairly easily, and if you haven’t claimed already, PPI claimback today without delay.