Claim Back Woolwich PPI Before the Upcoming PPI Deadline

Posted on February 11, 2019 by Canary Claims Woolwich building society

Don’t miss out before the impending PPI deadline — make a Woolwich PPI claim today, as you could be owed thousands of pounds.

With just seven months remaining to make a PPI claim, now is the time to contact your bank and find out if you are due a Woolwich PPI refund. Even if you were mis-sold PPI 20 years ago, you could still be entitled to compensation and a refund from your bank. To date, the banks have paid over £33 billion to customers.

The Financial Conduct Authority (FCA) has set the PPI claims deadline for 29th August 2019. You must submit your PPI claim before this date. But, be aware that many people face an earlier claims deadline if their bank has previously contacted them.

If you’ve already made a claim but it was rejected, it’s possible to make another claim due to the Plevin rule. This rule means that if over 50% of your PPI sale was a commission, you could make another claim. Please note that you can only claim again if your first claim was unsuccessful. Read our Plevin guide for more information about how to make a complaint about the commission.

If you believe that you might have Woolwich PPI, read below to find out more about how you can claim within plenty of time before the 29th August.

How Did Woolwich Mis-Sell PPI?

Like many other building societies, Woolwich got caught up in the PPI mis-selling scandal. PPI was sold alongside its loans and mortgages. If you had either of these, you could be entitled to Woolwich PPI.

Woolwich is no longer a functioning building society, but it was taken over by Barclays in 2000. This means it’s still possible to make a Woolwich PPI claim if you contact BarclaysIn 2018, Barclays admitted that it incorrectly told some customers they did not have PPI when they actually did. All customers affected have been contacted. The company’s CEO also came under fire by stating that many claims were fraudulent and that PPI claims had caused portions of the UK to turn into fraudsters.

Over 1.5 million people have already made a PPI claim against Barclays. The bank has allocated over £7 billion to mis-sold PPI — a figure that is likely to increase further still before the 2019 deadline.

Many customers were paying for PPI because they thought it was compulsory or were signed up to it, regardless of whether they could claim on it. An astounding number of people unknowingly had PPI policies could you be one of them?

How to Claim Woolwich PPI

Claiming PPI is simple with Canary Claims. It’s possible to contact Barclays yourself but when you work with us, we can handle all communication with the bank for you, giving you a stress-free PPI claim.

The first step to making a PPI claim is to uncover if you were in fact mis-sold PPI. You can do this by finding any old statements and paperwork from Woolwich. If you did have it, it’ll be listed as PPI or something similar, such as loan care or mortgage cover.

If you cannot locate paperwork from your Woolwich mortgage or loan, a reputable PPI claims company will be able to find out for you or an independent creditor. If you are making a claim yourself, you will need to contact Barclays and find out if they still have account details, if they do, PPI may be listed.

If you discover that you do have PPI, the next step is to figure out if it was mis-sold to you. Do you remember being told that it was optional? Did they ask you about your employment? The terms and conditions should have been set out clearly to you. There is a variety of ways that PPI was mis-sold and explaining this in your claim is critical.

Once Barclays is contacted, it will usually respond within eight weeks and either uphold the claim or reject it. However, the full process of uncovering if you had PPI and contacting the bank can take a number of months, which is why it’s important to start your claim as soon as possible. It’s highly likely that the banks are facing increasing numbers of claims due to the deadline, so don’t put it off.

If the bank rejects your claim, it’s possible to refer the case to the Financial Ombudsman Service (FOS). However, there is a huge backlog of claims at the FOS, and it could take up to two years to have a case settled.

The number of Barclays PPI claims upheld by the FOS in the first half of 2018 was 40%. This high percentage indicates that Barclays isn’t resolving all cases fairly, and submitting your claim to the FOS could result in the bank refunding you for your Woolwich PPI claim.

Canary Claims is the very best PPI claims company around, offering a no win, no fee service [Cancellation charges may apply only if the claim is cancelled after the 14 days cooling off period. The fee would be based on the work done at the time of cancelling at a rate of £120 per hour and up to a maximum total of £180] and only 18% (including VAT) on successful claims. Don’t delay your Woolwich PPI claim — contact us today.