UK banks are set to impose a PPI claims deadline in the UK within the next two months according to sources. Banks who want to draw a line under the whole PPI scandal, will be setting the deadline for a supposed April 2014, this will mean that any of those consumers in the UK who have had the expensive insurance policy, after this deadline date they will not be able to claim back their mis sold PPI.
With the PPI scandal set to cost the banking industry an estimated £50 billion if all Policies are claimed on in the UK, it is no wonder that UK creditors are wanting to just forget about the whole scam.
Insurance was sold alongside credit agreements such as car finance, credit cards, loans and mortgages and millions of consumers in the UK were informed that the insurance was part and parcel of making a credit application, when in fact it was not and the banks were just adding the expensive insurance to their agreement which would often result in the individual increasing their overall debt by up to 50% in some cases.
If you have had a credit agreement in the last 10 years and you feel you may have been mis sold PPI on your agreement, then give us a call today to see if you have a claim, it could be worth £1000′s in repayments and compensation, thousands of our clients have done this and have benefited by an average of £3,750 per claim!