The final deadline to claim PPI has been set for August 29th 2019 by the Financial Conduct Authority (FCA) in an effort to draw a line under one of the banking industry’s biggest scandals. Millions of people have already been compensated and banks have paid out almost £47bn to cover payouts but their bill is likely to exceed £50bn before the deadline next year. There have been approximately 64 million policies sold on PPI loans, PPI credit cards, PPI store cards, PPI mortgages and even PPI on overdrafts, yet only 12 million PPI claims have been made for compensation. For this reason the FCA has rolled out another aggressive PPI advertising campaign with Arnold Schwarzenegger urging us to make a PPI check to see if you have anything to claim back or lose the opportunity.
Have You Paid Into One Of The 50 Million Still Unclaimed PPI Policies?
A Free PPI Check may find that you did!
Not Sure if You Paid Payment Protection Insurance in the Past?
We can find out.
PPI Claims – Could I get a refund? If so how much?
Latest News: Another £3 billion in PPI Claims expected to be paid out before the PPI Deadline. Get your claim registered now!
Often without paperwork, the banks manage to avoid having to pay out any PPI you may have paid. This is why we’re even more determined to get you the PPI refund you deserve and will search your bank’s / financial institution’s records for all the old loans, mortgages or credit/ store cards, you have had in the past that did charge PPI. The average PPI claim refund we recover is around £2,700, but this depends on the size of the loan, mortgage or credit/ store card balance. It also depends on the length of time the Payment Protection Insurance policy has been in place and the number of top up loans you have had with the lender over the years or the amount of card balance you carried over each month on the credit/ store card.
- This money is sent directly to you in most cases. You only pay our fees after you have received your refund, and at only 20% plus VAT (which is 24% all in), we are less than many of our competitors. Consumer Savings Network are a customer focused company, big enough to manage your claims and deal with the largest organisations whilst small enough to give you the care, advice and attention you deserve.
What is Payment Protection Insurance, (PPI)?
- Payment Protection Insurance (PPI) is a form of insurance that guarantees partial repayment of monthly loan, mortgage or credit/ store card fees, for usually up to a year in the event you are made redundant or lose employment from sickness.
- PPI is known by many different names, usually dependent on the company providing them.You may recognize them as, Accident Sickness and Unemployment cover (ASU), Life & Accident, Sickness and Unemployment Cover, Mortgage Payment Protection Insurance (MPPI) and Personal Loan Protection.
- Payment Protection Insurance has been mis-sold by many lending institutions because they failed to fully explain the additional costs, or failed to check if it was even beneficial to the client, for example, people with good sick pay benefits from work generally don’t need PPI. Also if you had alternative income support like savings. This is why over £20 Billion has been awarded in refunds to clients thus far.