With one in five Britons reporting they’ve left making a decision to the last minute and with just a week to go to the PPI complaints deadline, the time for decision-making is NOW.
It is only seven days until the 29 August 2019 PPI complaints deadline and the Financial Conduct Authority (FCA) is urging the 18% of consumers (almost one in five) who say they’ll make a last-minute decision on whether to complain about PPI to act now – before time is up.
The FCA’s latest poll of the public suggests at least half of these ‘last minuters’ (53%) are confident they will complain ahead of the deadline on 29 August 2019. The new research has been released by the FCA as part of its drive to encourage people to act as soon as possible, so they don’t miss their chance to make a decision on PPI, and to reassure them they’re not on their own – there is still time and support is available.
With just one week to go, the FCA has also published its latest PPI data. These include:
- In the past eight weeks since the FCA’s final PPI push went live, it has seen a 420% increase in web users, and 269% increase in calls, compared to the previous eight weeks
- More than 5.1 million users have now accessed the FCA’s PPI website
- It has received 84,733 calls to its dedicated contact centre
- A total of £340.4m was paid in June 2019 to customers who complained about the way they were sold PPI, taking the amount paid since January 2011 to £36bn.
Feel like you’re always leaving things to the last minute? You’re not alone but you need to act now.
We’re a nation of last-minuters beyond PPI, according to FCA’s poll. 58% of the nation (six out of 10) say they routinely leave things to the last minute. This includes their tax return (20%), returning clothes for a refund (40%), paying bills (47%), returning library books (44%), booking holidays/flights (29%), buying gifts (61%), posting birthday cards (56%), grocery shopping (53%), packing for holiday (46%) and leaving the house to catch a flight (26%).
And the reasons why? Over a third (38%) say they’re forgetful, another third (32%) say they simply struggle to keep on top of things and 9% enjoy the thrill of being last minute.
The results show the average Brit has lost out on £256.53 from being last minute – on everything from late payment charges, to library fines. 4% of Brits (2 million people) admit they’ve lost in the region of £1,000 – £5,000.
Emma Stranack, the FCA’s PPI Deadline Campaign Lead, said: ‘Leaving things to the last minute is natural behaviour for many of us and we’re sharing these findings to show that anyone who hasn’t yet decided on PPI is not alone in leaving things close to a deadline.
‘That said, now is the time to act. We all lead busy lives, and the FCA is prepared for a last-minute flurry of enquiries. We’ve extended our PPI helpline hours to 8pm on weeknights and 5pm on Saturdays to provide further support to consumers and will be available for calls on bank holiday Monday. Ultimately, we don’t want the UK public to miss their chance to decide.
‘So, if you think you might have had credit with a PPI policy attached – particularly in the 90s or 00s – now is the time to get in touch with your provider. You need to submit your claim by 29 August, or you won’t be able to claim money back for PPI.’
PPI – the facts
An estimated 64 million PPI policies were sold in the UK – the majority in the 90s and 00s. Products that commonly had PPI attached include loans, mortgages, credit cards or store cards. The FCA website includes a comprehensive list of providers that have sold PPI (www.fca.org.uk/ppi/how-to-complain/search-for-provider). This includes high street stores, catalogue firms, building societies and supermarkets.
Providers have online tools that make PPI claims simple and will help you through the process. It’s free to do yourself and you don’t need to worry about paperwork. You just need your date of birth and previous home addresses to get started.
Consumers who haven’t complained to their provider by 29 August 2019 won’t be able to claim money back for PPI. FCA support is available online at fca.org.uk/ppi or by calling the FCA helpline on 0800 101 8800.
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I was with black house I had a few loans from them and nat west it was a long time ago can you find out for me as i don’t know how to claim
Visit the Resolver website – http://www.resolver.co.uk – and follow their steps. It’s a free service and shouldn’t take more than ten or fifteen minutes – you don’t have to have all the details of your loans. It’s worth doing – it costs you nothing – but you MUST DO OT TODAY or it will be too late! Good luck!