Last March, the Financial Conduct Authority had formally announced the PPI claims deadline that would remove PPI from the radar of the press and most consumers. On August 29, 2019, UK’s consumers would not receive the legal backing of the City watchdog. It is not that consumers would not be able to make a claim. Here are three things to know and remember.
You Can Still Claim PPI Post-Deadline
UK’s existing consumer laws dictate that anybody who provides service, including banks, are liable for consumer satisfaction. A mis-sold PPI policy is not an indication of good consumer service. Therefore, consumers could make a claim against their bank and could have the Financial Ombudsman work with them with their complaint.
The Financial Ombudsman is Focused On Helping Consumers
The Financial Ombudsman aims to resolve issues between consumers and banks, and it would continue to work with PPI claims well over 2019. PPI may die down in the media and the Financial Conduct Authority but the Financial Ombudsman would continue its duty towards consumers.
PPI Claims Companies Can Still Help
Be sure to work with the best PPI claim company available in your area. These are companies that work on a no win no fee basis and would not charge up-front fees. It is likely banks will still partner-up with these companies even after the PPI claims deadline. This would allow them to get all your receipts using a data access request and claim your complete refunds without having to do anything at all.