Ppi claims when is the deadline

Michele Barker with the car she bought from her PPI compensation payout. Read more about how PPI affected our lives. Too early? Related Topics. Published 22 August If it failed before 1 Jan Down Arrow. What is PPI? Down Arrow. Can I still claim PPI? How long will it take? Modal title Click to search. Search results Page or category Title. View all results. FAQs View more. Banks and lenders often sold PPI to customers without explaining what it covered.

People often felt pressured to take it only to later find out that it was unsuitable for their circumstances. For example, PPI doesn't cover you if you are self-employed or retired. PPI claims must be received by the firm you're complaining to on or before this date or they won't be considered.

It's a good idea to check documents you signed when you took out a mortgage, loan or credit card as this is where any information about PPI will usually appear. PPI may also go by other names, such as loan protection, credit insurance, loan repayment insurance, ASU accident, sickness and unemployment insurance, account cover or payment cover and will appear on statements.

In most cases, the financial business such as a bank or other business provider that sold you the PPI is the same one who provided your loan or credit product, so you should complain directly to them.

To help make your claim, there are free template letters and other handy tools you can download from MoneySavingExpert or the FCA. You should also briefly explain the reason for your complaint. Banks and other financial institutions pushed the policies alongside loans, credit cards and other deals, telling consumers it would help them repay debts in the event of sickness or unemployment.

However in many cases, exclusions in the small print meant customers could never make a claim. The FCA said it was urging consumers to jog their memories by visiting its website, which includes a comprehensive list of providers that have sold PPI.