Official figures show that the amount of compensation paid to successful PPI claimants has jumped by almost £100 million in a single month.
Blog Category: Personal Finance
Britain’s lenders have added a staggering £4.9 billion to their PPI compensation pots AFTER the claims deadline on August 29th.
The taxman looks set to reap millions of pounds from compensation payouts to Britain’s bankrupts.
Royal Bank of Scotland (RBS) is to add between £600 million and £900 million to its PPI pot because it fears it won’t have enough to pay out all of the successful claims against it.
Britain’s financial regulator is worried that a new recession could provoke another PPI-type scandal with the banks feeling pressure on their main sources of income.
In the run-up to the deadline we continued to recover hundreds of thousands of pounds for our clients with the Top 20 payments totalling a massive £703,360.22.
Well, that’s it! The PPI saga is over and done with as the much heralded deadline passes into history.
Are you sitting on a stash of old fivers and tenners? If so, the Bank Of England would like them back.
British economists are starting to voice concerns about what will happen when the PPI money runs out.
As tens of thousands of consumers rush to beat the PPI deadline, a new report claims the true cost of the scandal has already hit £48.5 billion and is continuing to grow.