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PPI Claims Deadline: The Guide, What This Means, Should You Hurry?

What is meant by “PPI Deadline”?

The term “ppi deadline” refers to the “deadline” for people wanting to make a claim for “Payment protection insurance (PPI) refunds” to submit their claim before it’s too late and the deadline (cut off point for people to submit a claim and for that claim to be accepted) to officially come into force.

When Is The PPI Deadline?

The FCA have proposed a ppi claims deadline of “June 2019” this comes as a recent development (announced on the 2nd August 2016) that this is the proposed deadline from the FCA (Financial Conduct Authority) this is one year later than planned in previous discussions.

UPDATE: The PPI claims deadline has now been announced and it is the 29th August 2019 – so all claims will need to be submitted before then.

What does this mean for PPI Claimants?

If you’ve already claimed your ppi then you have no need to think about the deadline, however if you’re (like most people reading this article) yet to claim, you should submit your ppi claim before the 1st of June 2019 as this is the proposed deadline.

How Can I Submit My PPI Claim?

You Have Different Options For This Dependant On Your Priorities:

  1. If you wish to have assistance in claiming your ppi, you can work with a claims’ management company, one easy way to do this is to submit your ppi claim here and we can help you on a no win no fee* basis charging a fee of 10% + VAT
  2. You can search for an alternative ppi claims management company if you have one in mind already
  3. OR You can proceed to make the claim yourself and handle all chasing up, paperwork and pursue the claim through to completion yourself

People tend to make this decision based on their priorities, some preferring to have assistance from a company to aid the process of completion with a no win no fee* policy in place, whilst others would prefer to save themselves from having to pay any fees on completion and who don’t mind going through the process of preparing, submitting, chasing and pursuing the claim themselves.

It is completely up to you, the claimant as to what you would prefer, but we’re happy to help you and are contactable at the online form to the upper right hand side of the page 24/7.

What The Deadline Means At-A-Glance

1/ You have a limited amount of time to submit your payment protection insurance claim

2/ There will be an influx of claims, and the sooner a claim can be submitted, the sooner it can be processed and dealt with

3/ If you submit a claim after the deadline “June 2019” you’re too late!

Generally, best thing to do is to submit your claim at the earliest opportunity if you’re looking for the fastest possible result.

Should you choose to work with us, we will endeavour to help you with any queries whatsoever you may have, and we would advise you get in touch with us, even if you are confused as to what to do next about your claim, we are happy to help.

Why Should We Have A PPI Deadline In The First Place?

There have been discussions at length between both the FCA (Financial Conduct Authority) and the BA (Bankers’ Association), the following has been said by Andrew Bailey, chief executive of the FCA: “Putting a deadline on PPI complaints will bring the issue to an orderly conclusion in a way that protects both consumers and market integrity,”

So the key priorities in this motion are maximising customer awareness and providing a fair period of time for them to claim their ppi, but also bringing the issue to an “orderly conclusion”.

Is This A Positive Development For PPI Claimants?

The introduction of a claims deadline will reportedly be accompanied by an “awareness campaign” to inform consumers that they can still claim their ppi AND they have until the deadline (June 2019) to do so.

This is informational and motivational for victims of ppi mis-selling & will hopefully bring justice to as many victims of ppi claims mis-selling as possible.

What Happens To Any Claims That Are Submitted After The PPI Claims Deadline?

As far as can be understood at this stage, any and all claims submitted after the deadline of June 2019 will have missed the opportunity to claim and therefore will not be accepted, this is why it is important to make a claim before the deadline period.

We offer a no win no fee* ppi claims management service nationwide (we charge 10% + VAT for successful claims payouts), regardless of where you live in the United Kingdom, if you would like to submit a claim, feel free to contact us using the form to the upper right hand side of the page and we’ll be happy to get started.