With one year left to claim PPI compensation, MSE says “there’s no need to pay a claims firm”

On Wednesday 29 August, consumers have exactly one year to claim mis-sold payment protection insurance (PPI) before the 2019 deadline. After that, claims won’t be considered and you won’t be able to get compensation. MoneySavingExpert.com warns this deadline should serve as an urgent call for everyone to check if they had it, and act now.

Guy Anker, deputy editor of MoneySavingExpert.com, said: "PPI is the biggest financial scandal we’ve ever seen with billions wrongly ripped from the nation’s wallets over many years – and the real kicker is it wasn’t done by dodgy criminals but bankers in swanky offices.

"Now the clock is ticking louder than ever. You only have one year left to claim. While it sounds a long time away, there’s a rush to do it because there’s likely to be a big backlog given all the publicity.

"So this should serve as an urgent warning to check if you’ve ever had PPI on a loan, credit card, store card, mortgage or any other kind of debt. There’s no need to pay a claims firm to do this, as it’s easy to do for free – so you get to keep ALL of the money wrongly taken from you."

Free help is available online, both from www.moneysavingexpert.com/ppi and www.which.co.uk/ppi.