The PPI Claim deadline is tomorrow, so if you took out a loan or a credit card (and paid PPI), you better submit your claim, fast!
Many PPI Claim handling companies have already stopped taking on new claims even though the deadline is tomorrow, due to the vast number of claims causing huge backlogs.
My situation is that I took a loan back in 2004 and paid PPI for 4 years. I had received a form to complete, but had not gotten around to filling it out and sending it back. Concerned about the deadline being tomorrow, I called them up directly; they asked a few questions over the telephone and submitted the application there and then. My advice to anyone not yet having completed their PPI Claim form is to call the company direct and ensure you get your claim submitted successfully in time, and don’t forget to ask for a reference to the call!
A few questions I was asked included:
1) Was I told PPI was optional? – I answered “No.”
2) Did you work for 16 hours or more? – My answer “No, I was self-employed and worked fewer than 16 hours per week.”
3) Was I healthy at the time of taking out PPI? – I answered “yes.”
4) Did I have any savings? I answered “no.”
I’m no expert with what each company might ask and of course you can’t lie, but hopefully this article will help in some way prepare you, or better still remind you to submit your PPI Complaint in time!
I was advised that I will receive a letter with a Unique Reference Number detailing my “PPI Journey”. From this point forwards I can call to discuss how my claim has progressed. I was then advised a decision letter will be posted out to my current address within 8 weeks.
If you are relying on a company to submit your claim, make sure you get confirmation that it was submitted successfully, because if systems start to have a melt-down, technology failure will not be a reason for your claim to be assessed, and it will be struck out. Equally, if you are posting a paper copy PPI Complaint form, make sure to post it today via a service that guarantees delivery before midday tomorrow, Thursday 28th August 2019. Providing the claim is submitted before the deadline it can still be escalated to the Financial Ombudsman Service, but if you don’t chances are it might not be considered.
For more information about the PPI Deadline, how to file a PPI Complaint, or for more info about PPI go to: https://www.fca.org.uk/ppi/