Do you know exactly who can claim PPI? Do you fall into that category? If you have some questions about whether you’re eligible to make a claim, read our guide below.
Payment protection insurance (PPI) was mis-sold to millions of UK consumers with products such as loans, credit cards or mortgages. Since it came to light how many of these policies were mis-sold, the banks have been repaying customers. Since 2011, nearly £30 billion has been paid to customers — an incredible amount of money that will only rise over the next year or so.
As a reputable and highly experienced PPI claims company, we’ve been asked many times “who can claim PPI?” Here, we seek to answer your questions about who can make a PPI claim and if you need to use a claims management company.
Who Can Claim PPI? Anybody?
There are no restrictions on who can claim PPI, but the insurance was largely sold in the 1990s and 2000s, up to about 2010. This means only those over 18 at that time are likely to have PPI, as they were eligible to buy credit cards, mortgages, and loans.
Anybody can claim PPI, so there is no reason to put it off. If you believe that you might have been mis-sold the insurance, it’s important to find out now before the PPI deadline in August 2019. The Financial Conduct Authority (FCA) created a deadline for PPI claims to encourage people to make a claim, rather than keep putting it off.
You should be able to find details on the bank’s website about the steps to making a claim.
It’s possible to make a PPI claim yourself, but many people choose to use a PPI claims company.
If you want a stress-free process and somebody else to make a claim on your behalf, you can work with a reputable claims management company, Canary Claims. With nearly a decade of experience with making PPI claims for customers, we will do everything in our power to reclaim the money that you’re owed.
Can You Claim PPI While Abroad?
If you were mis-sold PPI while living in the UK but are now living abroad, this doesn’t matter. As long as you have all of the relevant details, there is no reason why you can’t make a PPI claim. Gather all the paperwork and details you need for a claim. You can use a PPI claims company based in the UK to make a claim on your behalf, or contact the bank yourself.
Now you know who can claim PPI, it’s time to start your PPI claim. It’s important to remember that all claims need to be made before August 2019. Even if the bank or lender you bought from has been taken over, you can still make a claim.
If your claim has previously been rejected, you might be able to claim again due to the Plevin ruling. If over 50% of your PPI sale was a commission (67% was the usual commission at the banks), you can make another claim. Note that you can only make another claim if your first one was unsuccessful.
So, don’t delay — start your claim as soon as possible!
Canary Claims can make a claim on your behalf. We work on a no win, no fee [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] basis and offer a low fee of only 15% (18% including VAT), so contact us today to start your PPI claim.