There have been a lot of rumours recently from the financial sector regarding limited time to claim back your mis-sold PPI policies.
MoneySavingExpert.com has claimed that the Financial Conduct Authority was seriously considering implementing a claim by date. This has not yet been confirmed but is something that anyone who has not yet enquired about whether they are entitled to a PPI refund should bear in mind.
If this was enforced, banks and lenders could be getting away with not paying out a large sum of money due to many people still not claiming. However, this will also affect customers as well as those companies as people could soon miss out on gaining a large sum of money that is rightfully theirs.
If you have taken out any type of loan or credit in the last few decades then in a lot of cases, PPI will have been added on to this.
The PPI scandal has been rumbling for years, so in producing a clear end date, then it is thought that this will encourage those who haven’t claimed, to come forward and claim what they’re rightfully owed.
Make sure, you’re not one of the ones to miss out.