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SCOTTISH PPI CLAIMS

Scotland Wide PPI Specialists

PPI Compensation Is Ending in 2019

31 December 2018

Don't be in any doubt - 2019 is the year that compensation for PPI policies mis-sold before the Summer of 2017 comes to an end. If you wait until after the 29th August 2019, you won't be able to claim your money back.

Ending

You could miss out on potentially thousands of pounds of YOUR money being lost forever. But how this saga start? Why did the PPI mis-selling scandal become such a thorn in the side of banks, lender and the financial regulator?

1990s

No one would have thought that back in the mid-1990s when concerns were first raised about PPI, that in 2018, the PPI compensation total would be standing at over £33 billion. And the total is still climbing.

Vince Cable raised a variety of concerns regarding PPI in the House of Commons including how PPI was sold, the expense of the policy and the complexity of the claiming process, as well as the low payout rate of successful PPI claims.

2000s

There were complaints and super-complaints from leading organisations such as 'Which?' until finally, on referral to the now-defunct Competitions Commission, it was found that the selling of PPI was unfair.

What followed was more wrangling, with legal arguments and judicial reviews. But, after one ruling the banking industry and its representative backed down - and the PPI compensation floodgates opened.

By now, the PPI saga was nearing the end of the first decade of the 21st century. In January 2011, the first PPI compensation payments were made.

Twists and Turns

There have been several twists and turns in the PPI story;

  • Banks were told to re-open some older cases back in 2014 after it was found that they had under-compensated 2,500 customers
  • Banks and lenders were also told to compensate any fees and costs too, that would have been charged as a result of PPI being added to an account
  • Banks had to write to customers, inviting them to make a claim for PPI compensation
  • A case brought to the Supreme Court at the end of 2014 changed PPI compensation payments after it ruled that by not disclosing to customers the level of commission representatives were paid for selling PPI, the banks and lenders were acting unlawfully

Is this the year you will claim PPI compensation?

The PPI deadline is August 2019. But, don't wait.

There is no need to wait. All you need to do is find the documentation that shows you have PPI and then call Scottish PPI Claims. With a high success rate, we can help you claim the money you are entitled - and before the August 2019 deadline.


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