Is It Possible To Reclaim PPI Before The August Deadline?

It’s already well-known that the Financial Conduct Authority in the United Kingdom has announced that the final deadline for all Payment Protection Insurance (PPI) claims is 29th August 2019. However, this doesn’t mean that it is now too late to reclaim PPI potential policy holders just need to be as organised as possible.


It makes sense to use an organisation such as ours as we can streamline the paperwork and administration in a number of ways. By saving as much time as possible, your own claim should be thoroughly researched and submitted well in advance of the August cut-off.

Establishing whether or not you had PPI cover in the past

When PPI claims first became an issue, the process to apply was incredibly time-consuming, and this was made worse by lenders wanting to drag the whole experience out as much as possible in the hope that the claim would just ‘fizzle out.’ Borrowers were responsible for digging out old credit agreements and then making their own case for PPI being mis-sold, and the big companies had their excuses ready and waiting!

However, there is now a far more efficient way of reclaiming PPI from credit cards, loans, mortgages and store cards, and all you need to know are the names of the lenders who you had accounts with. A PPI claims specialist will take all of your personal and lender details, along with your consent to act on your behalf, and they will then contact all of the companies for you and establish exactly where you held the cover.

There’s no need to panic if you are having difficulty remembering your previous credit providers – you just need to apply for a simple credit report as this will list every lender on your record for the last six years. Having said this, there are cases where forms of PPI have been claimed back from as early as the 1980s.

Determining if PPI cover has been mis-sold

Put simply, you will almost certainly be due a refund of your PPI payments if it can be proved that you were sold cover that you were ineligible for. Additionally, you can also claim if you made additional monthly payments without your prior knowledge, or even if you were told that taking out PPI was going to affect your chances of being approved for credit.A PPI claims specialist such as moneyback ppi will know all of the ‘alarm bells’ that will indicate mis-selling in any form, and this is where their percentage fee becomes more than worthwhile. They will be able to convince lenders that you are due a refund in circumstances where as an individual you may have been rejected.

When is the best time to initiate a claim for PPI mis-selling?

In reality, the best time is right away! Although using a dedicated PPI claims specialist will speed up the whole process, there is little point in waiting and allowing 29th August 2019 to leave you feeling disappointed. After all, the deadline was set up by the government to allow the financial services industry to ‘draw a line’ under the whole sorry saga, and so there is absolutely no reason why you shouldn’t receive the refund that you are owed. More to the point, there’s no harm in trying to see if you are eligible.

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