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PPI claim deadline looms

The 29 August 2019 deadline for claims for potentially missold PPI is looming and there has been extensive press coverage which suggests that a huge amount of PPI compensation has yet to be claimed.

Some industry bodies are suggesting that executors who fail to claim PPI compensation which may be due to an estate which they administered, could be criticised by their beneficiaries and may find themselves personally liable for loss if they fail to investigate and if appropriate, make a claim.

If you are an executor and believe that the deceased whose estate you administered may have had Payment Protection Insurance cover in respect of a loan, mortgage or credit card, we would advise you to contact the lender to establish whether there is any compensation due. The Financial Conduct Authority’s website (https://www.fca.org.uk/ppi/) contains helpful information on how to go about this.  If you do not have details of the lender, we understand that there are companies who will search against a name with all the main lenders and banks in return for a percentage of compensation.

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