Beat the PPI time limit

Beat the PPI time limit

The Payment Protection Insurance (PPI) time limit is set to be imposed in relation to the mis-sale of PPI.  New claims are to be submitted by August 2019.

Ignoring the fact that there might be a legal challenge to this date (which is likely to be unsuccessful) it is essential that if you do have any old facilities in the past (whether you know there is PPI on it, or not) that you check to see whether PPI was applied.

PPI could have been applied to credit cards, loans, overdraft facilities, mortgages or any other form of finance that you could have had.  It is certainly relevant to anybody who has had any form of borrowing in the 1990s and early 2000s.

If you have had any form of borrowing in the early 1990s and early 2000s, regardless of whether you think there is PPI on it, or not – you must check.  This is because 80% of PPI policies have not been assessed for the mis-sale of PPI.

80% of policies have not been checked for PPI mis-sale.

It is incredible to think that with all the advertising over the last 6 years that there are still 80% of policies that have not been assessed for the mis-sale of PPI.

There are millions of people out there who, for whatever reason, decided not to check any old loans, overdrafts or credit card facilities that they might have had from the 1990s and 2000s and who could potentially receive a windfall running into thousands of pounds.

Five interesting facts you may not know about PPI:

  1. 80% of all policies have not been challenged for the mis-sale of PPI.
  2. We can check to see if PPI was applied to any old facilities free of charge.
  3. We can check if PPI was applied to any old borrowing facilities without paperwork.
  4. We can check if PPI was applied with any old facilities if there are no details.
  5. If you did not know if you had PPI, we can check – all free of charge.

Can I check if I had PPI for free?

It is essential, bearing in mind the numbers of policies that remain unchecked and unclaimed, that if you have had any form of borrowing in the 1990s and early 2000s that these are now checked.

It does not matter if the credit card, loan, overdraft, mortgage or any other type of facility is still in place, or not.  We can still check for you and assess if PPI was applied, free of charge.

Of course, if there was PPI applied, then we can look to work for you on a no win no fee basis to establish if the policy was mis-sold and then look at recovering the PPI premiums, as well as compensatory interest until the refund is made, from the date of the sale.

What if I do not have PPI?

If, once we have checked any old facilities you may have had, no PPI was found or could not be located, then you can put your concerns away and you do not have to worry about them as you will know that you will have checked.

As we check on a free of charge basis, if no PPI was applied or cannot be located, there is of course no charge.

What if I do have PPI?

If PPI was applied and we can establish the amount (which once we can locate PPI we can easily do) then we can approach the lender in relation to whether the policy was mis-sold, or not.

If the policy was mis-sold then we can look at obtaining a refund on your behalf for, not only the PPI premiums paid, but also the interest and compensatory interest from the date of sale right the way through to the date of the refund.

In some situations, bearing in mind the passage of time, this can be quite considerable.

Martin Knipe