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PPI CLAIMS DEADLINE
29th Aug 2019

CHECKING FOR PPI IS FREE**

There's no time limit on how far back you can make a claim.

As many as 64 million PPI policies have been sold in the UK mostly between 1990 and 2010, some as far back as the 1970s.

Some of the Culprits who sold PPI?

Yorkshire Bank
Lloyds TSB Bank
TSB Bank
Royal Bank of Scotland
Virgin Money
Natwest Bank
Bank of Scotland
Bank of America
Clydesdale Bank
Halifax
Co-op Bank
Barclays
Nationwide
Lloyds Bank
HSBC

THE PPI DEADLINE

GETTING READY FOR PPI DEADLINE

IMPORTANT NOTICE!

WE ARE NO LONGER ACCEPTING NEW PPI CLAIMS!

Due to the proximity of the PPI deadline, we are no longer accepting any new PPI claims to allow us to process existing PPI Claim enquiries

Please be assured, if you have already enquired about a PPI Claim with Money Management Team Limited we are processing your enquiry and will update you as your claim progresses. If you need an update in the meantime, please contact us.

You can pursue your own claim direct to the firm to obtain a refund. You can do this for yourself at no cost and then use the Financial Ombudsman Service or Financial Services Compensation Scheme (FSCS) which are both FREE.

Dont Miss the 29th Aug 2019 PPI Deadline!

£Millions Remain Unclaimed!

Is There Any Leeway In Deadline Timing?

No – the deadline is absolute. If the claim is not properly logged with the lender before midnight on August 29th it will be officially time-barred.

I already have a case(s) going through with you, what will happen to them?

The deadline is for new claims only. All existing claims will be investigated and decided normally.

I have had a case with FOS through you for ages – what will happen to it now?

All FOS investigations of current claims will be unaffected by the deadline. It is for new claims only.

Will the deadline cause any delays in my case?

No – existing cases will be processed as normal with a final decision expected within 8 to 16 weeks of acknowledgement of the claim by your lender.

What if the bank wants more information?

A request for further information from the bank means that it has been accepted and is under investigation. The usual timescale of 8 to 16 weeks for a decision will still apply.

Why is there a deadline?

The deadline was set in place by the Financial Conduct Authority (FCA), which is the UK’s financial regulator. It’s chief executive, Andrew Bailey, said at the time: “Putting in place a deadline and campaign will mean people who were potentially mis-sold PPI will be prompted to take action rather than put it off. We believe that two years is a reasonable time for consumers to decide whether they wish to make a complaint.”

“We have carefully considered the feedback we received and we still believe that introducing a deadline for PPI complaints and a communications campaign warning of the deadline will benefit consumers.”

What happens after the deadline?

The deadline is for new claims only. If your claim has already been lodged with your lender then it will be fully investigated.

What happens if my case is rejected by the lender?

If your claim is rejected then it will be passed to our specialist team who will evaluate the terms of the rejection to see whether an appeal to the Financial Ombudsman Service (FOS) might be possible and advise you of their findings.

Note: Your PPI Claim starts with a Free PPI Check service. Our PPI Claim fee of 20% + VAT (so 24%° of the total redress offered by your lender) is payable if your claim is successful. That means if we don’t recover you anything, you don’t pay us a penny. You can submit a claim directly to the lender yourself for no charge. You can also approach the Financial Ombudsman Service and Financial Services Compensation Scheme for free to review your case, providing it falls within their remit and you have approached your lender first.

Customer Service Reviews

What is PPI?

PPI was an insurance product which covered your repayments in circumstances where you couldn’t make them yourself. These included unemployment if you were made redundant or where you couldn’t work due to an accident, illness, disability or death.

PPI was usually sold with products that you need to make repayments on, like a loancredit card, store cardmortgage or catalogue accounts.

As many as 64 million PPI policies have been sold in the UK, mostly between 1990 and 2010, some as far back as the 1970s.

The FCA has found that PPI was often mis-sold. More than £31bn has already been paid back to people who complained about the sale of PPI.

In August 2017 and  following a court case known as ‘Plevin’ the FCA annouced a new reason to complain, this was about the commission earned by a provider on PPI policies where the buyer was aware,

Which Products were sold with PPI?

You might have had PPI if you’ve taken out or used loan or credit products, such as:

  • Loans – including personal loans, business loans and student loans
  • Credit cards
  • Store cards – usually from a high street stores
  • Catalogue credit accounts -
  • Mortgage including any second charge mortgages e.g for a conservatory
  • Any secured loans on a home in addition to your mortgage
  • Overdrafts
  • Car finance
  • Hire purchase agreements to buy things like as a bedroom furniture, sofas and other big purchases (as known as finance agreements)
  • Home shopping accounts – including catalogue accounts
  • Home improvement loan - again for items such as for a kitchen, bedroom or sofa

Checking PPI

Whilst you don’t need your paperwork to check, it may help to speed up the process. Look for ‘PPI’, or the product names listed below, on original documents, credit agreements, more recent statements, and the terms and conditions for each.

How can you tell if you had PPI?

PPI was usually sold with other products like a loan, credit card, store card, mortgage, overdraft or car finance deal – so check your paperwork for loan or credit products you’ve had.

As well as ‘PPI’ or ‘payment protection insurance’, your paperwork might include other names for PPI and similar products, such as:

  • accident, sickness and unemployment (ASU) insurance
  • account cover
  • credit insurance
  • credit protection
  • loan care
  • loan insurance
  • loan protection
  • loan repayment insurance
  • mortgage payment protection insurance (MPPI)
  • payment cover
  • protection plan

Claiming for mis-sold PPI

If you find that you had bought PPI then there are 2 reasons you might be eligible to claim back money you’ve paid for the PPI policy:

  1. PPI was mis-sold to you

    If you think you experienced one of the examples listed below or were mis-sold PPI in another way, please call us to start your PPI claim complaint with your bank or other provider for them to review why you think PPI was mis-sold.

    if you experienced any of the following its highly like that you have been a victim of PPI mis-selling:

    • The bank or provider pressured you into buying PPI or advised you that you must have the PPI
    • That you were promised a cheaper rate if you bought PPI with the finance credit
    • you were told your loan or credit application was more likely to be accepted if you bought PPI
    • The bank or provider added PPI to your credit agreement without telling you
    • you believe you were misadvised to buy PPI that did not suit your circumstances or needs
    • Even though you status was self-employed, unemployed or retired you were advised to purchase PPI
    • At the time when you bought the PPI you had a pre-existing medical condition, which would have affected your ability to make an insurance claim
    • it was not made clear that you would pay interest on the PPI if it was added to your loan
    • it was not made clear that the PPI would end before the loan or credit was repaid
    • you were told that having a pre-existing medical condition was covered in your PPI policy
  2. The other reason for being mis-sold PPI is covered under the new Plevin ruling where the bank or other provider had earned a high level of commission from the sale of PPI, but didn’t tell you at the point of sale.

The Deadline for Making PPI complaints

The FCA has set a deadline of 29 August 2019 to complain about Mis-sold PPI.

This means that you must refer your complaint to your financial provider before the 29 August 2019 deadline (by 11.59pm) or else lose your right to have your complaint assessed.

You shouldn’t wait until 29 August 2019 - act sooner rather than later to check if you had PPI and decide whether to complain. Start you FREE PPI Check today!

Store Card PPI Checks

A store card is quite similar to a credit card but can only be used in a high street shop or department store or a particular store, or in the case of national chains multiple stores in the same retail group.

In order to complain about PPI sold with a store card, you should check your store card agreement and other relevant paperwork you have, to try to find the name of the financial business that provided the store card to you.

Once that has been identified It will usually be quicker to complain to the financial business directly rather than contacting an indvidual store about it.

If for any reason you can’t find or simply don't have any supporting paperwork you can also contact the relevant store to ask:

  • which financial business name provided the store card
  • whether a store can take your complaint and forward it to that financial business
  • You should then be able to follow the steps explained on the following pages.

Store Cards Examples & their Providers

Store Card Credit Provider
Argos Home Retail Group
Karen Millen Ikano Financial Services
Miss Selfridge NewDay Ltd
New Look Ikano Financial Services
Oasis VIP Ikano Financial Services
Topshop NewDay Ltd
Topman NewDay Ltd

 

More About our FREE PPI Check** Service

We offer a Free PPI Check** which aims to find out if you were sold PPI on any financial agreements, before you decide whether to pursue a complaint. The aim of this is to determine which of your accounts had PPI attached and which did not; this can also result in finding additional cases you may have forgotten about. If your PPI Check shows that PPI was or may have been present, you will be advised of your options and the possibility of recovering any PPI you may be owed from your lenders.

Banks & Lenders Facing Mis-sold PPI Claims

Yorkshire Bank
Lloyds TSB Bank
TSB Bank
Royal Bank of Scotland
Virgin Money
Natwest Bank
Bank of Scotland
Bank of America
Clydesdale Bank
Halifax
Co-op Bank
Barclays
Nationwide
Lloyds Bank
HSBC