PPI Deadline

22nd February 2017 Blog

The PPI deadline is looming. Between October and December 2016, over 36,000 rejected PPI claims were submitted to the Financial Ombudsman Service (FOS).

Payment Protection Insurance is the most complained about product, with around 44% of PPI claims being in the customer’s favour during that quarter.

It has been made known by the FOS that by the end of March they will be announcing a time-bar on PPI claims. It is believed that the deadline for PPI reclaiming is expected to be in June 2019.

The reason that the time-bar will be considered in March 2017 is due to the Plevin rule changes and fee rules coming into affect. These are likely to come into force within 3 months.

Don’t miss out on the PPI deadline, contact Queensbeck and start your claim now.