| Financial Regulators, PPI, PPI Deadline, PPI Refund

PPI Arnold

For some an ad about PPI can be a source of annoyance, especially if they have been subject to numerous cold calls about it from both legitimate as well as fake claim agencies.

That is why the Financial Conduct Authority came up with a unique and appealing way of spreading awareness about the financial product that some may or may not be able to get refund for.

They have used the animatronics head and voice of the Ageing Terminator “Arnold Schwarzenegger” shouting PPI reclaim catchphrases.

Thousands of people are being urged by the City Watchdog’s (FCA) latest advert to check if they are due compensation for mis-sold PPI as claims deadlines is heading -29th August 2019.

This new TV advert features Arnold bot urging to “make a decision” about PPI claims and to “do it now!”

It is well known that the mis-selling of Payment protection policies is the biggest scandal of its own kind in the history of the UK.

Millions of Consumers Are Still Owed Compensation for Mis-Sold PPI 

So far, over 12 million people have received their compensation for PPI policies sold with credit cards, loans, mortgages etc., averaging £1,200 per refund.

But it is estimated that up to 45million policies have been sold and the final bill to banks and financial firms can hit £100billion.

Also thousands more PPI-victims may be owed compensation, even if they previously had their claim rejected due to the improvements in rules.

It can be worrying if victims are unaware of the PPI claim deadline, while others don’t make an attempt to claim because they think it’s daunting to do so. Well, it is not so challenging if you know how you have to approach the FOS (Financial Ombudsman Service) or a claim management company.

What Has Changed?

Big Banks are being fined repeatedly for failing to handle complaints properly and for wrongly rejecting most cases.

If your PPI claim was rejected by your bank/lender, then you can take this case to the Financial Ombudsman. But before you do that, it is also important to consider the new rule.  

In the year 2014, a court found that “Susan Plevin”, a customer, was unfairly treated by her bank because she wasn’t made aware that a large amount of commission (71.8%) was deducted from her PPI payment.

Now if over 50% of your PPI bill went to the lender as a commission and you weren’t made aware of it, then you are due compensation as well as the interest on it.

Research on this matter reflects that the average commission was 67%.

So, customers can now submit a claim under these terms, but they need to act quick as they have only have two years in their hand to do so. It means that more than 1.2 million people who had their previous claims rejected can have their case reopened. And if Arnold “The Terminator” is urging you to act quick, then you must act quick to terminate the biggest scam of all time. So, make a move now, seek assistance from a claim management company or directly approach the FOS.

Watch the video here: https://www.youtube.com/watch?v=cfwk0bAAfPk

Check now for FREE
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