How Much Money Have Banks Set Aside For PPI Claims?

Unless you have been avoiding the news, you would have certainly heard about the PPI scandal which led to thousands of people being mis-sold PPI. Due to this scandal, banks set aside a large sum of money specifically for PPI claims. This figure increased by a further £1.5 billion in July 2017 in order to cater for a rising number of people rushing to claim their PPI compensation before the deadline on 29th August 2019.

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Whether you are certain or not that you have been mis-sold PPI, you can still attempt to make a claim. This is particularly worth doing if you purchased any type of credit prior to 2006, as there is a good chance that you are eligible to receive compensation. At Moneyback PPI, we make claiming your compensation easy. Not only will we provide you with your next steps when it comes to claiming for mis-sold payment protection insurance, but we can help you reclaim thousands of pounds on your behalf, helping you to gain your share of the PPI money pot.

Claiming Your Share Of The PPI Money Pot

Here at Moneyback PPI, we strive to ensure that you receive the share of the PPI claim money pot that you deserve. If you have been mis-sold PPI and are entitled to compensation, we will guide you through each step, in order to ensure claiming your PPI compensation is as fuss-free as possible.

Regardless of the information that you require, you can rest assured that our PPI guides contain everything you could need in order to successfully claim back your PPI. Whether you want to identify whether you have been mis-sold PPI in the past 20-30 years or want to discover the lender who wrongly mis-sold you the scheme, we have the solution.

There are a number of products that you may have been mis-sold PPI on, including:

  • Mortgages
  • Loans
  • Credit cards
  • Store cards
  • Overdratfs (RBS, Natwest, Barclays, CO-OP)

With huge profits which banks and other financial institutions gained from selling PPI and significant amounts of commission given to salesmen, it’s unsurprising that so much of this was mis-sold. With the predicted PPI bill for banks and financial providers sitting at what equates to over £1,500 per household, you can be certain that you are in the right place when it comes to claiming your fair share. Even if you have previously been rejected for a PPI claim, the 2014 Plevin ruling could work in your favour, and it may be worthwhile submitting your claim again.

At MoneyBack PPI, we are the experts when it comes to gaining your money back from the bank, and into your pockets.

For more information about how to find out if you can reclaim PPI or a step-by-step guide to making a PPI claim, get in touch with a member of our friendly expert team on 0800 040 7778. Alternatively, fill out our quick and easy contact form to claim back PPI, now.