It is estimated that 64 million payment protection insurance policies were sold in the UK but many of them were mis-sold.
"You could [see] a small company closing its doors earlier so they can process it.
"Or frankly you might just find you're missing a little bit of information and there isn't enough time to get it.Mr Lewis said anyone who had any type of debt in the last 30 years should start the claims process before the deadline.He added:"A typical pay-out is £3,000, the biggest I've ever heard of: £240,000."
PPI was routinely added to products such as store cards, credit cards or mortgages, intended to protect people if they could not keep up with payments due to situations such as illness or unemployment. Also, following a court case known as Plevin, people can also complain on the basis that a high level of commission was earned from the sale of the policy without them being aware.More stories
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