PPI Claims Deadline

PPI Claims Deadline.

The financial industry regulator, the Financial conduct Authority (FCA), was confirmed that the final deadline for submitting payment protection insurance (PPI) claims will be 29 August 2019.

There have literally been hundreds of thousands of PPI complaints with estimates of around £50 billion in compensation being set aside by banks.

The clock is now ticking.

Comment

We wonder what the "ambulance chasers" claims firms will now start pursue? What we mean by that is PPI claims companies will very quickly go out of business unless they find something else to try and make money from.  If you are a financial adviser beware!

We are guessing these so-called ambulance chasers will then start to target flexible drawdown pensions if things don't go too well over the next few years or annuities if things go too well for flexible drawdown over the next few years.  We are cynics when it comes to claims companies!

On a positive note, no more PPI text messages or TV ads.