How many PPI claims remain to be made?

How many PPI claims remain to be made?

As the UK’s financial regulator adds last minute touches to a £42 million advertising campaign on the PPI claims deadline, how many more mis-selling claims will the banks have to face until the final curtain?

A total of £27.4 billion has already been paid out on around 18.4 million claims, with the banks setting aside a further £10 billion to pay future claims.Read More


HSBC now third bank to set aside £ millions more for PPI

HSBC now third bank to set aside £ millions more for PPI

HSBC has become the third High Street bank to set aside millions of pounds more to pay future successful PPI claims.

The world’s largest bank has set aside an extra £228 million in its half year figures bringing the total new provision for PPI mis-selling in just one week to more than £1.6 billion.Read More


Don’t give up in the face of rejection

Don’t give up in the face of rejection

Britain’s banks have paid out billions of pounds in compensation for successful PPI claims over the past seven years, but not all claims are successful and the banks have also rejected millions of claims in that time.

It’s impossible to say how many have been rejected over the years, but once a rejection is received it’s important to understand that all is not lost.Read More


FOS still get 600+ PPI complaints a day

FOS still get 600+ PPI complaints a day

Britain’s Financial Ombudsman Service (FOS) is still getting more than 600 complaints every working day about mis-sold PPI more than a decade after the scandal first came to light.

In its annual report, the service reveals it received 168,769 new PPI complaints in 2016/17.  This was more than 10 years after the Citizens Advice super complaint to the Office of Fair Trading in September 2005 gave us the first inkling of the scope of what has become one of Britain’s biggest ever financial mis-selling scandals.Read More


FCA sees record number of complaints

FCA sees record number of complaints

Britain’s financial watchdog has reported a record 3.04 million complaints in the second half of 2016.

Claims for mis-sold PPI were still the largest group, accounting for 29% of the overall total.Read More


Those PPI payouts just keep on rolling

Those PPI payouts just keep on rolling

Six years after official figures began to be kept, mis-sold PPI payouts continue to run at an average of more than £1/4 billion a month.

The latest figures issued by the Financial Conduct Authority (FCA) reveal that the 23 firms who make up 95% of the PPI complaints in the UK have paid out a total of £26.5 billion in compensation to consumers who were mis-sold PPI since January 2011.Read More


All over? Not by a long chalk

All over? Not by a long chalk

The announcement of the PPI deadline has been greeted by surprise in some quarters.

One of the comments we here daily about PPI is: “Surely it must be coming to an end now.  There can’t be many more people to claim.”Read More


Pool of people who may still claim PPI is ‘pretty enormous’

Pool of people who may still claim PPI is ‘pretty enormous’

As the announcement date for the proposed PPI deadline draws ever closer, Britain’s Chief Ombudsman says the pool of people who may still claim compensation for being mis-sold is ‘pretty enormous’.

Caroline Waynman, head of the Financial Ombudsman Service (FOS) revealed that almost a decade after the financial crash FOS are still receiving around 3,000 new cases a week.Read More


Are you owed money on your store card?

Could you be owed thousands on your store card?

If you were using a store card in the Nineties or Noughties it could have PPI attached to it and you could be owed a refund if it was mis-sold.

Even more surprising is that you may be able to claim the money even if you tried to claim before and were rejected.Read More


Half of FOS workload is still PPI

Half of FOS workload is still PPI

Half of the workload of the Financial Ombudsman Service (FOS) is still appeals for rejected PPI claims and the service is finding that many of those rejections were unfair.

Figures just released show that of the 70,908 new cases opened in the last three months of 2016, 36,065 were for PPI – 51% of the caseload. The next most complained of product was packaged bank accounts with 4,014 new cases reported.Read More