Northampton, England – October 27, 2017

According to a survey held by the Financial Conduct Authority (FCA), there were over 1.11 million of people complaining about the Payment Protection Insurance (PPI) in the first half of 2017.
The FCA announced the PPI reclaim deadline (which is August 90, 2019) on March 2 of this year. The number of complaints is expected to increase in the second half of 2017. This is because the FCA has launched a huge advertising campaign regarding the reclaim deadline in August.
PPI remains the most complained about product
As per the FCA statistics, PPI continues to be the most complained product, which constitutes to be about a third of the total 3.32 million complaints, which were recorded by firms in the first half of 2017.
Moreover, £1.63 billion out of the £1.99 billion, which was paid out to the victims, consisted of the people who were mis-sold the PPI policy.
The data could be affected by new rules on complaint reporting
Furthermore, there was an expected 8 per cent rise in the number of complaints recorded by the firms since the second half of 2016. But the FCA stated that this could be in part as there is a new complaint reporting procedure in place. Earlier, the complaints closed before the end of the next business day were not included in the data, but as of now they are.
Get your complaints in early
If you are among the people who were mis-sold PPI, it is better if you make efforts to get your complaints in early. As the deadline is now imposed, possibility of more and more people starting to bring forward their own claim remains high. This will lead to a big backlog of claims. Therefore, it is essential that you make a claim as soon as possible.
PPIRefund.co.uk is one such firm that helps its consumers to make a successful claim. They help you from the beginning, by checking if you were mis-sold PPI policy to making a successful claim on your behalf.
To know more about their services, you can log on to their website https://ppirefund.co.uk/

iSmart Consumer Solutions
Regents Pavilion
4 Summerhouse Road
Northampton
NN3 6BJ
Telephone
0800 862 0571