At long last we have been given a date for the cut-off point of PPI claims. However, the date is August 2019. Yes 2019.
Quite why consumers need another 2.5 years to conjure up a complaint of mis-selling I don’t know. But I suspect we can now expect more cold calling from claims management companies with those much trotted out words “we believe you have been mis-sold PPI”.
Not only will the claims management companies be encouraging more spurious PPI mis-selling claims but the FOS have decided in their wisdom that they will need to run “a 2 year communications campaign”.
So for those dealers who have been on the receiving end of complaints, you can probably expect a few more over the next 2 years.
Of course when Augusts 2019 comes, the Claims Management Companies will look for another mis-selling money spinner and that could well be PCP so dealers should make sure their processes and paperwork for PCP deals are in absolute tip top order for when the time comes.
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