Ppi how many years to claim

This is because the deadline applies to claims against companies that are still trading, while FSCS compensates when financial firms have failed. Find out how long PPI claims take to resolve on our How long does it take? Lorem ipsum PPI dolor sit amet, consectetur adipiscing elit, sed do eiusmod This website uses cookies. By using the FSCS website, you consent to the use of cookies in accordance with our cookie policy. You can change your browser settings to disable cookies at any time but if you do so, parts of the FSCS site may not function properly.

FSCS is committed to ensuring the security of your personal information and to giving you control over how your data is used. Skip to main content Skip to need help. Search FAQs. ES Best. ES Mag. Follow us:. Password Please enter a valid password. Submit Submit. By Georgia Chambers. B anks have been overwhelmed with payment protection insurance PPI claims as the final deadline arrives today. Other banks are reporting website problems and waits of up to 90 minutes on the phone.

As long as the PPI was active within the past six years, you can still reclaim. Your subscription will end shortly. Please update your billing details here to continue enjoying your access to the most informative and considered journalism in the UK.

Accessibility Links Skip to content. Menu Close. In other words, successful claimants only received part of the commission that had been paid to the banks. A series of other court cases saw the position change again, as claimants were awarded the full commission where the bank failed to disclose large commission payments to the customer. As almost all PPI policies earned high commission rates, this change was significant and opened the floodgates to new claims.

Customers who have received a partial payment, have had their claims rejected or have not claimed so far can now claim, citing the unfair compensation. Even customers who were not mis-sold PPI and were happy with their policy can potentially claim as the high commission payments may not have been disclosed to them. The potential for new PPI claims based on the unfair commission payments could not have come at a worse time for the banks as they are still facing a backlog of existing claims to process.

Banks were overwhelmed by the volume of claims and although the expected time for banks to respond to such claims is typically eight weeks, the FCA managed this expectation by predicting that most claims would be resolved by summer Now many customers remain frustrated that their cases have not been resolved as the new unfair commission charges issue further aggravates and complicates the issue.