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PPI NUMBERS PS36BILLION amount already paid out to those mis-sold PPI since January 2011 64MILLION number of PPI polices sold in the UK PS44BILLION expected total final PPI bill
In the past eight weeks since the FCA's final PPI push went live, it has seen a 420% surge in web users, and a 269% increase in calls, compared with the previous eight weeks.
WHAT IS PPI? IF YOU'VE had a loan, mortgage, credit card, store card or bought something on finance, you may have been sold PPI alongside the financial product you took out.
Emma Stranack, FCA's PPI Deadline Campaign Lead, says: "The PPI deadline is closing in.
If you've complained about PPI since late-2015, your provider may already have told you they would consider the commission they earned as part of your complaint.
Many will have taken out credit to cover the costs - with PPI potentially attached.
You get statutory interest (at 8% a year, but not compounded) on the total of both those sums, for each year since you got the PPI.
Even if you weren't mis-sold, the Plevin rule that came into force in 2017 means that if the commission the bank or building society received from the insurer for flogging it was over 50 per cent you're usually due the amount above that back (the average commission was 67 per cent.) You don't need to pay a firm to reclaim mis-sold PPI for you.
Each year with the release of PPI data for January, seasonal adjustment factors and relative importance figures are recalculated to reflect price movements from the just-completed calendar year.