Unless you have been living in a cave in the woods for many years now, you have no doubt heard of PPI. The scandal has been ongoing for some years now, but it will soon end.
The Financial Conduct Authority (FCA) in March 2017 introduced new rules, and within these rules is a PPI deadline, this means ALL PPI CLAIMS MUST BE MADE BY 29TH AUGUST 2019 OR THE RIGHT TO CLAIM WILL BE LOST FOREVER and the banks will be allowed to keep your money.
However, despite all of the press coverage about the billions of pounds the banks have already refunded, and the billions of pounds they have set aside for future refunds, many people have still not claimed their refunds. It is estimated that only half of the £50 billion PPI policies that were sold have been reclaimed so far!
We believe this is because many PPI policies were added without the customer’s knowledge, or were built into the finance in such a way that you may not have realised you had even taken it out. This is why it is important for you to thoroughly check your past credit, to be sure you recover any money you are entitled to.
This can be a time consuming process, and this is where we can help. Simply by signing a few authorities for us we can undertake extensive and thorough checks of you past credit, to ensure that you can get all of the compensation you are due.
So, if you have ever had any credit in the past, such as personal loans, credit cards, overdrafts, hire purchase, store cards, mortgages, secured loans, car finance, catalogues and so on, then there is a very strong chance that you may have been a victim of mis-selling of PPI, and it is very likely that you are not even aware of it. If we can prove this to be the case with our investigations, then you will be due compensation.
At Andrew and Andrew we have a dedicated team waiting to help you recover your money. Our solicitors are fully conversant with Financial Services regulations, and are supported by a CeMAP qualified financial mis-selling specialist and fully trained support staff. This ensures your claim is dealt with accurately, efficiently and professionally.
If you have not checked to see if you are entitled to a refund, then contact us for a no obligation claim pack.
We will investigate your claim on a no win – no fee basis. This means we will not ask for any money up-front, and we will cover the costs of the lenders fees for copies of their records and complete all of the investigations. You will only pay us if you are awarded compensation.
So, you truly have nothing to lose, and potentially thousands to gain.
Frequently Asked Questions
We are often asked the same questions by our potential clients, so here are some quick answers for you:
- What is PPI?
PPI stands for payment protection insurance, it’s an insurance sold to cover credit repayments in the event of accident, sickness, hospitalisation or unemployment. However, for many people it was not suitable, and was regularly mis-sold, which is why you must check to see if you were a victim before time runs out.
- Was PPI always called PPI?
No, PPI has been sold under many different names over the years, adding to the confusion now it is time to reclaim.
PPI had many names, a few examples include PLP (personal loan protection), ASU (accident, sickness & unemployment), ASH (accident sickness & hospitalisation, MPPI (mortgage payment protection insurance, CCRP (credit card repayment protection) and of course there are many more. If you are not sure, then simply contact our specialist claims advisers.
- I can’t remember who my credit was with, can you still help?
We will send you an extensive list of credit lenders, this will be sure to jog your memory to get us started and often we will uncover those you have forgotten about during our ongoing investigations, so yes we can still help you.
- I don’t have any paperwork or account numbers, can I still claim?
Whilst many firms would ask for this information, we do not. With your authority we can obtain all of this information on your behalf directly from the lenders in question, so yes of course we can still help you investigate your refunds.
- I am not sure that the firm is still in business, can I still claim?
Yes you can, many popular credit brands are no longer trading, but of course the banks and lenders behind these brands usually are. Of course with amny bank mergers and acquisitions over the years tracing your account can be a minefield, but our specialists know how to recover your information and where to direct your claim, so simply get in touch
- How far back can you claim?
There are no limits to how far back we can claim. PPI has been around since around the 1960’s and we have seen many successful claims going back decades. It is often surprising how far back the banks records do go when you know exactly how to ask! So get in touch, even if you had your PPI many years ago, we can often still help you recover your money
- Why shouldn’t I just claim myself?
Of course you can, if you fancy spending some money up-front to recover your files, and then spending often significant amounts of time trawling through paperwork looking for that elusive PPI policy; then if you even find it; writing detailed claim letters to your credit lender, and filling out their questionnaires just to start the ball rolling. If that was not enough, you will then be waiting for their response, furthermore you will need to appeal if they reject your claim and follow the Financial Ombudsman Service dispute process, involving more paperwork, and even more time.
We were recently approached by a client who had been rejected by M&S Bank for her refund of credit card PPI, and sadly she had not pursued the matter with the Financial Ombudsman in time, and so her claim had expired. Fortunately, she spoke to us, and using our expertise we were able to re-open her complaint (even though it was time-barred), and recover a refund in excess of £10,000.
As a firm of lawyers, the banks take us seriously, they will not fob us off, and they know we will not give up. This is why we believe it is quicker and easier to use our specialists. Sure you will have to share in the compensation under our no win – no fee agreement, but surely a share of the refund we successfully obtain is better than the whole of nothing because you never found the time to see the process through and your time ran out?
So, are you ready to discuss your compensation?
If so then contact us today – it’s easy! We have several telephone options for your calling convenience, you can make an enquiry via any of the contact boxes situated throughout our website, or you can contact us by social media networking.