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What to Expect in 2016 – PPI Claims

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As we reach the tail-end of the year, we’re often asked to look back over the previous twelve months in a somewhat reminiscent way. At Enjay Claims though, we feel that this time of year should also be about looking forward into the next, and trying to figure out what it will bring and what you can plan for. For some, it gives the opportunity for a fresh start. With the shortest day of the year already passed, your days will definitely begin getting brighter from here on in.

The PPI scandal has caused a huge amount of people a great deal of trouble. To help guide you into the next year, we’ve compiled a short list of what developments to expect where PPI is concerned in 2016.

For a long time now, banks have been lobbying to bring an end to PPI Claims, something that has already cost them millions in compensation. It seems the FCA will finally submit, hoping the move will help to build trust in the financial industry. The actual deadline that your claim has to be in by is supposed to be roughly two years from the date of announcement. So, for instance, if they make the announcement in spring 2016, you should have until spring 2018 to get your claims in. However, this is all open to change. The only thing we can confirm for definite is that a deadline will be set in 2016.

We should also see the outcome of the Plevin v Paragon case in the Supreme Count. Here, the Supreme Court sided with Ms Plevin, agreeing that the PPI deal offered to her was unfair because she was unaware of the amount of commission the bank was taking from her. If she had known the true amount, she wouldn’t have entered into the agreement in the first place.

This ruling could potentially re-open up a lot of PPI cases, which is another reason the banks are hoping for this deadline to be put in place. As with the PPI deadline, rules on claiming after Plevin are expected to be announced in spring 2016.

All of this can seem extremely daunting and confusing. If you’re having trouble getting your head around it, or just want to enquire about whether you have a PPI claim or not, feel free to contact us at Enjay Claims today. If you’d like to send us an email, our address is info@enjayclaims.co.uk. Alternatively, if you’d like to give us a call, our Freephone number is 0800 6127958,

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