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PPI Claim

The FCA PPI Claim Deadline of 29th August 2019 has now passed and as a result we cannot accept new claims for mis-sold PPI. If you have already submitted a claim with Crystal then be assured that your case is progressing and we will update you as part of our normal service. However, if you missed the deadline for submitting a claim it may still be possible to recover PPI that you have paid, using two alternative routes, depending on your situation.

Help, I missed the PPI claim deadline – what can I do?

The FCA PPI claim deadline means that all PPI claims made directly to banks by consumers after 29th August 2019 in relation to PPI are likely to be rejected and the Financial Ombudsman Service (FOS) will not accept those rejections unless there are exceptional reasons.

However, Crystal can still help you if you have a PPI policy that you think might have been mis-sold and you have not successfully claimed.

If you have not already made a claim ahead of the deadline then there is a strong chance that you could be owed money from undisclosed commissions under the Supreme Court decision known as “Plevin” if the seller of the policy received commissions that they did not adequately tell you about. Further, it may be possible to show the policy was mis-sold leading to you receiving all of the premium paid plus interest.

Our sister company, Crystal Clear Law Ltd, an SRA Authorised legal practice, can represent clients with PPI complaints who have missed the PPI claim deadline (as well as many other forms of financial mis-selling issues).

Frequently Asked Questions and further information for you to consider:

Q: Are there any risks if I refer my case using litigation via a law firm?

A: If you choose to bring a claim via litigation then any live PPI policy you may have is likely to be cancelled by the product provider/ bank. Litigation has potential risks if you lose your case (such as the need to pay costs to the other side) and your solicitor will explain these to you and provide options to mitigate your risk, for example by taking out an After The Event (ATE) insurance policy which will cover those costs.
There is also an unlikely but potential chance that you may have to attend court.

Q: How long does the litigation take?

A: This very much depends on the specifics of your case and the response of the other side. Litigation can take between 3-12 months to resolve but typically takes 6-7 months.

Q: What are the chances of winning my case?

A: This depends on the specifics of your case and the actions of the other side. Regulations dictate that your solicitor must believe the prospects of your case are better than 50% before they agree to act for you.

Q: How much will it cost to use a solicitor?

A: The amount you pay will depend on the value and complexity of your case and whether you choose to take out an ATE policy or not. If you take out ATE and lose then you will be unlikely to have to pay anything.

If you win your case then typically customers pay 50% inclusive of VAT of the amount recovered, although this will be subject to your individual circumstances and the actual fee may be less than this.

If you are unsure if you have paid for PPI, and would like to find out, Crystal Legal Services can help you investigate if you have a PPI policy that might be suitable for reclaiming via a litigation process and assist you with getting your case set up with the law practice. Note that you are not restricted to use Crystal Clear Law Ltd to recover any PPI identified and other law firms may be available to take on your case.

Also note: Crystal Legal Services is a claims management company, and not a law firm, and is not authorised to provide any legal advice to you. Any referral by us to the law firm will only be on your explicit consent. You will be required to enter into an agreement with the law firm and a fee will be payable if your claim is successful.

*Note: Crystal Legal Services may receive a commission payment from Crystal Clear Law if any case we refer to them is successful.

Help, I think I might have a PPI claim but my lender or broker has gone out of business and ceased trading but – what can I do?

If your lender or broker has gone out of business or ceased trading, and you think you paid for a PPI policy with them that may have been mis-sold, then you may be able to claim via the Financial Services Compensation Scheme (FSCS).

Claims made to the FSCS are not affected by the FCA PPI Deadline (i.e. there is no deadline) and we can assist you with this by setting up and managing the claim on your behalf. Our service would be chargeable and subject to our standard T&Cs, or your existing contract with us if you are already a customer. Be advised that the FSCS is a free to use service and you could run the claim yourself.

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Crystal Legal Services Ltd is a claims management company authorised and regulated by the Financial Conduct Authority..

You do not need to use a claims management company to make your complaint to your bank, and if your complaint is not successful you can refer it to the Financial Ombudsman Service yourself for free

For friendly and professional advice call us today on 01270 44 66 00

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Crystal Legal Services Ltd, Gawsworth House, Westmere Drive, Crewe, CW1 6XB.

Crystal Legal Services Ltd is a claims management company Authorised and regulated by the Financial Conduct Authority.

Company registered in England and wales. Company registration 6837474. Registered office: Fairfield House, Back Lane, Spurstow, Tarporley, Cheshire, CW6 9TE.

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