The regulator is cutting off PPI reclaims - if you HAVE or EVER HAD a loan, credit or store card, mortgage, overdraft or catalogue debt, take note. Even if you've been rejected from a past PPI reclaim...
The regulator has announced a final deadline of 29 August 2019 for consumers to reclaim mis-sold PPI. If you think you've been mis-sold you can reclaim for free, but don't delay – the reclaim system is likely to get jammed up now a final deadline's in place, so get ahead of the queue.
Problems with PPI still make up more than half of all complaints received by the Financial Ombudsman Service (FOS), according to figures released just weeks before a deadline for making PPI claims is set to be announced.
The financial watchdog has delayed its decision on a proposed deadline for reclaiming PPI after its consultation received "a large amount of feedback".
PPI claimants may have lost £100s after handing over deposits to a Swansea-based claims management company that has now gone bust. But many affected customers may be able to claw back their cash via their credit and debit card companies.
Problems with PPI accounted for more than half of the total number of complaints about financial services and products submitted to the Financial Ombudsman Service (FOS) from July to September this year.
The number of complaints lodged against banks and other financial services firms fell by 2.6% between January and June this year compared with the previous six months, according to figures from the financial watchdog – and complaints about current accounts dropped 10%.
Complaints about Lloyds Bank, HSBC, Bank of Scotland and Barclays made up almost half the total number of complaints lodged with the Financial Ombudsman Service (FOS) in the first half of 2016.
The Financial Conduct Authority (FCA) has said it plans to push ahead with the introduction of a time-bar on PPI reclaiming, with the cut-off now expected to be in place by June 2019.
A widowed mother who was in financial distress has told how she managed to reclaim £35,000 in PPI owed to her late husband after sending off MoneySavingExpert's PPI reclaim template letter.
28 June 2016
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