With the PPI deadline fast approaching there has been a 40% increase in the number of people that have begun to make claims. There are several reasons for this sudden increase,however, the question still remains;what are the main contributing factors? We are going to look at this now and see why this sudden increase has just begun and how it is set to rise in the coming months.
PPI Claims Companies
With the ease of using claims companies to claim back PPI, there has been an increase in the number of people using them to get the money they are owed. With it all taken care of by a professional team, this removes the confusion and allows for those that were unsure about PPI to apply through a secure system.
Not only do claims companies make the process easy, but they also allow for you to use their services with the benefit of a no win no fee basis. This is the case for many companies and acts as an incentive for people to use their services. This then ensures that you will only be charged if your claim is a successful one.
PPI Advertising Campaigns
With a large majority of people still yet to claim the PPI compensation that they rightfully deserve, there has been a 40% increase in the number of people that are now claiming PPI when compared to the figures seen in the first half of 2017. One of the main reasons for this jump is the advertising campaign launched by the FCA. This is one of the standout advertisements on our TV screens over the last year and featured ‘RoboArnie’ telling people about the approaching deadline for your PPI.
Although this was a dramatic change from the previous advertising campaign, this was memorable to the audience and has contributed to the increase ofpeople making a claim. Not only was this advertisement well received by the audience, but it gained a large amount of media coverage from outside sources, helping to spread the word about the PPi deadline.
The Looming Deadline
As predicted, there was bound to be an increase as the deadline got closer. This was partly down to the confusion that is often associated with PPI and the claiming process. However, with more and more people putting forward a case, people have learned about the deadline and the process through word of mouth.People seeing their friends and families receive repayment through a successfulclaim has also begun to do the same and receive similar results. This is only set to increase the nearer the deadline as those who are still edging on curiosity decide to take the plunge.
So,if you are looking to make a claim for your PPI compensation or you know of a friend or family member that may be owed money, join the 40% increase and make your claim today before it is too late, as the deadline is on the 29th August 2019.