PPI CLAIM DEADLINE LOOMING

You have just a week to claim back mis-sold payment protection insurance as the August 29 deadline looms.

If you want to really benefit from the long Bank Holiday weekend, it could be the perfect opportunity to finally put in your claim.

Banks have had to set aside billions of pounds to compensate those mis-sold this often overpriced insurance, mainly added to loans, credit and store cards and catalogue accounts between the early 1990s and 2006.

If you know who you borrowed from and have the paperwork, it’s a doddle, because you just fill out a claim form – find one at which.co.uk/ consumer-rights/advice/ how-to-reclaim-missold-ppi, or at moneysavingexpert.com.

If you don’t have the paperwork, you can get in touch with companies you borrowed from and ask if you had PPI.

If you don’t know who you borrowed from, you’ll need to get a copy of your credit report to find the names of companies you’ve had products with.

There are also plenty of claims firms who offer to do this for you. But their services come at a cost (up to 20% of your claim plus VAT).

If you do use a claims firm, check it offers no-win-no-fee, that it doesn’t charge more than 20%, nor any money up-front.

Sarah Coles, personal finance analyst at investment firm Hargreaves Lansdown, says: “If you have to check whether you had PPI, it could mean you don’t actually get your claim in until after the deadline.

“But as long as you get your query in first you should be fine.

“Banks should convert your query to a claim, and count you as having hit the deadline.”

EXPERT HELP for you