Q: How long does it take for a payment protection insurance policy claim to be settled?


Legal Answer

A claim for the mis-selling of a payment protection insurance policy can last between 9-12 months, although, there is no definite time period within which a claim is usually settled as this is dependant upon the merits of each case.

If a policy provider admits to the mis-selling of a PPI policy, an offer can be made within 2 months of the letter of claim being sent. However, if a claim is rejected in the first instance, we are likely to take further instructions from you in relation to your policy provider’s reasons for refusal. If this does not prove to be successful, your claim will be sent to the Financial Ombudsman Service. This is quite a lengthy process and can take up to a year to reach a settlement.

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