How to get a free PPI check

How to get a free PPI check

It is important that with the deadline now set by the Financial Conduct Authority (FCA) (for end August 2019) that anyone who has had any form of borrowing in the past, particularly credit cards and loan facilities who have not checked whether they have PPI, checks now – without delay.

Is it worth checking for PPI?

The honest answer is yes.  It must be worthwhile checking, even if it comes back and it is established that no PPI was applied or (for whatever reason) the details could not be located.  At least you will know.

he last thing you will want to do is find out that in a couple of years’ time, when the deadline has been passed, that PPI was applied to a facility that you had in the past and a windfall could have been paid to you.

This is a ridiculous situation and one that you do not need to put yourself into.

Is there a PPI time limit?

The reason why it is important to have a free PPI claim check is that the Financial Conduct Authority (FCA) for a variety of reasons (mainly to protect the Banks) is introducing a time limit to submit claims.  This time limit has been set for the end of August 2019.  It does seem a long time away at the moment but this time will soon pass and it is essential that if you have not checked on any old facilities that you may have had, whether PPI was applied or not, that you do so now without delay.

The time limit was imposed in order to protect the Banks from having to pay out vast sums of money over the next few years.  They have already paid out approximately £13 billion in the last 8 years and this is due to rise considerably, bearing in mind only about one-fifth of people have made a valid claim so far.

The FCA have calculated that there are more than 40 million policies still out there remaining to be claimed upon.

You have nothing to lose in checking for PPI

This is the most important thing.  We can look at establishing if PPI was applied or not on any old facilities, regardless of whether you have any paperwork, or not and regardless of whether you know if PPI was applied or whether you have any account numbers.  It does not matter how far you want to go back.  We are happy to go back to the 1980s and check any old facilities you might have had, whether they are open or closed.

We can establish if there was PPI and, if there was PPI, look to make a claim on your behalf.

Of course, if there is no PPI – then at least you will know and you will not have had to pay anything and you can put it to bed and forget about it.

Five reasons why you should bother checking for PPI

  1. 80% of policies sold have not been claimed.
  2. The average claim is around £3,000.
  3. Interest is added on top of the PPI applied.
  4. Claims for credit cards can be considerable with the added interest.
  5. You have nothing to lose and potentially – everything to gain.

Is working on a no win no fee basis correct?

As a firm, we have our main Principal, who has operated in the bank complaints industry for almost 20 years and deals with all clients on a no win no fee basis.

If it is established that there is no PPI, that no facilities could be located and, for whatever reason, no refund is obtained in the PPI was applied, then there is no fee to pay. The only time a fee is paid is if the claim is successful and a refund is made, in which case the fee is 25% which includes the VAT of any amount of money received by way of a refund.  So, for example, if a refund of £1,000 is received, the fee is £250.

Martin Knipe