The Personal Protection Insurance claim has two kinds of deadlines associated with it. One is the claim deadline. This means, you can’t claim your PPI after the deadline date. The money which you deposited now can’t be taken back since you didn’t ask for a refund in the given time period. This was raised by lenders and banks somewhere in 2013, but was not accepted by the public. Due to this, the deadline to claim a refund has been removed.
Second is the deadline of response. This means, there is a time limit in which you have to reply to the bank or the authority for their query they must have asked.
Here are the types of deadlines that come under it.
If you are going to make a claim then you must be acquainted with the deadlines involved with it. Among the multiple deadlines involved with a PPI claims, a part of deadlines is for the PPI owner to meet while the others are for the lender. You must be careful with the deadlines and respond to every reply they send.
If you miss a deadline there are a lot of chances that your PPI can’t be claimed now. Here, are the replies and the deadlines involved with them.
- You wrote an objection to your lender or bank – Eight weeks deadline to reply.
- They replied within time saying you did not have a PPI – Six months deadline to reply if you are sure that you have one.
- They replied that your PPI was not mis sold – Six months deadline to reply, if you believe they are wrong.
- If they say, the details you provided were incorrect – Six months deadline to respond.
- They pay the exact refund offer – Six months deadline to accept the refund.
- They pay a low refund offer – Six months deadline to appeal.
Deadlines are made to make sure the work is done within time and the system does not keep storing the work. If you hire a company to get you your PPI claim then make sure they know all the details, so that the process goes smoothly. All the deadlines on your part need to be taken care by your company. If the bank asks for your details then the company should contact you as soon as possible to prevent any delay in the process.