Payment Protection Insurance (PPI) Claims

In April 2011 UK banks and lenders became liable to refund Payment Protection Insurance or PPI if it was mis-sold to you with any loans or credit cards. Claiming back via a PPI Claims company can cost you up to 40% of the money due to you when in actual fact the process of reclaiming PPI is very straight forward.

Don't get duped a second time, claim back PPI yourself!

New PPI Complaints Time Frame Changes

Historically Payment Protection Insurance or PPI complaints should be dealt with in a period of 8 weeks by your bank or lender. 

However, because of the massive influx of complaints since the Judicial Review on the 20th April 2011 the FSA has extended the time period in which banks or lenders have to deal with complaints. Now, if you make a complaint after the 20th April 2011 but before 31st August 2011 then the banks or lenders will have up to 16 weeks to deal with your complaint.

Thereafter up until the end of 2011 they will have 12 weeks to deal with your complaint and then from the beginning of 2012 it will revert back to the 8 weeks time period that it was before the judicial review.

No comments:

Post a Comment

Please feel free to say what's on your mind or ask a question.