Reclaiming PPI: How Late Is Too Late?

If you have experienced a mis-selling of PPI then you can reclaim the same. You have to lodge a formal complaint first and then only your case can be forwarded legally. It is your right to reclaim PPI especially if you think that you are in need of the insurance but still the agent made you buy it unnecessarily.  

Is there any fixed deadline for reclaiming PPI?

Within two-years of mis-sold claims should be made otherwise your application to reclaim PPI will automatically get rejected. There are many people who fail to notice the reclaiming deadline and thus their face rejections. It is before the deadline that you have to contact financial ombudsman so that your claims can get released on time.

Some latest rules have been framed for reclaiming PPI and you got to know them all in order to make your move accordingly. This is the most important step that cannot be skipped at all especially when you are desperately looking forward to receiving your claims. Now, complaints can be even lodged over the phone but in this case, last-minute complaints might automatically get rejected therefore you have to place your complaint before the arrival of midnight.

If your bank has rejected your claims then you should immediately approach the financial ombudsman for getting justice and compensation. Delay in your approach to the ombudsman can make you suffer a lot. This year the deadline has already been announced and the date is the 29th of August, 2019. Those who think that the policy has been mis-sold to them should raise their complaints within this deadline.

You have to collect all the necessary documents as evidence for backing up the complaints strongly. There are many people who prefer rising reclaims by means of post. In this case, early preparation will be perfect for them. It is for the public-awareness that the authority keeps on posting the deadline from time to time. Moreover, if you follow online news or press releases then also you can come to know about the same.

In spite of all these notifications, many people missed out the deadline and lose their chance of reclaiming PPI. You can also follow the campaign called two-year communication for learning about the deadline. This step would be really pretty helpful for you. In this program, you can also get a detailed guidelines regarding how to raise the reclaim in a systematic manner for getting appropriate results.

Many people ask that if once their PPI reclaim get rejected then whether they will get another chance or not. Well, for that you have to keep an eye over the updated news. In this case, the authority will decide whether you should get a chance to reclaim PPI once again or not.

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