If your PPI company violated the rules at the time you purchased it, known as “misselling”, you can generally complain to them. You can also complain about PPI that was missold if you aren’t sure.
Most complaints must be filed by 29 August 2019. If you have a PPI claim or received a letter from the company selling you the PPI, you might need to file a complaint earlier.
If someone needs help, you can complain about them
You don’t have to complain and you don’t even need to hire a company to do it. You usually get some money back if you use a your company.
- You can complain to the PPI company
- It’s a good idea to be informed before you start complaining
- Your PPI policy number, if it is available
- When you get the loan or credit
- When you purchased the PPI – Usually the same date that the loan or credit
- If you were self-employed or employed at the time
Usually, you will need to complain about the item or loan to the company. They’ll let you know if they can help you. Ask the store if they provide the card and check your paperwork. It will often say “credit provided by”.
The FCA website allows you to complain – simply search for the company that you borrowed from, and then fill out the complaint form.
If the company is not listed, it could have changed its name or gone out-of-business. You can complain to the FCA.
Within 8 weeks, the PPI company will write to you to let you know if they have accepted your complaint or to give you more information.
You can complain to Financial Ombudsman Service if they fail to write or you are not satisfied with their decision. This must be done within six months.
- If they reject your complaint, the date printed on their letter
- The date that you complained plus 8 weeks, if they didn’t write to your.
- If the complaint was made more than six months ago, the financial technology partners Ombudsman Service may still be able to help.
- If they are unable to help you, you may get your money back if the company has a commission complaint.
Acceptance of your complaint
Before accepting an offer, verify that it is the correct amount. Once you accept an offer, it is final.
- The amount you are offered by the company should include:
- The amount you paid to get PPI
- Any interest that you have paid more because of the PPI
- Any commission that you paid more than 50%, if they didn’t tell you how much it was when you bought it
- They charge 8% interest on the amount they offer
- You can challenge the payment if the company does not pay you the money.
- Citizens Advice is your nearest resource for helping you determine how much you should receive.
You can file a complaint with the Financial Ombudsman Service within six months of receiving the offer from the company.
If you can’t complain sooner, such as because you are seriously ill or haven’t been able to complain before 6 months, the financial loans Ombudsman Service may still be able to help you.
You might have to accept the offer if you are happy with it. If you aren’t sure what to do, or if they haven’t paid you within 2 weeks, contact them.