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Eye Watering PPI Claims Facts & Figures

The Numbers Behind the PPI Scandal Despite the monumental lack of trust it's created and the fact that banks put huge profits before customer needs; the Mis sold PPI scandal is proving to be a very timely economic stimulus package. The PPI compen- sation scheme is giving people money and creating jobs at a time when both are greatly needed, but what are the real facts and figures behind the biggest banking scandal in recent years? Let's take a look... 2.5 TOP THREE 4.5 COMPENSATION SCHEMES million million More than 2.5 million people have already received PPI compensation NO1: NO2. PPI Claims Miners £/BN| NO3: Number of people that have made a PPI claim 13 compen- - sation scheme paid out in 2 years, projected Criminal £25 Injuries £4.1BN total bill: £25bn Compensation Scheme (CICA) billion billion paid out £3BN over 13 years awarded over 49 years Estimated total refund bill Amount already in the pot to cover claims 27 1000 £900 billion PPI claims made every working day 250,000 The amount a bank pays to the Amount paid back to customers between mid 2011 and late 2012, according to the FSA The backlog of outstanding PPI claims at the FOs Financial Ombudsman Service if a claim is referred and upheld 2014 3000 6000 May Number of extra staff hired by Financial Ombudsman to cope ll 25% H The potential deadline for making PPI claims currently being considered of claims made to Lloyds Since May 2011 are from people who never had a PPl policy UK banks and lenders have hired around 6,000 extra staff to handle the influx of PPI claims 800,000 87% 2,200 MMMIMİMİ Consumer group Which? Mmmmn The number of new PPI claims The number of PPI texts says that some bank staff were on an 87% commission for selling PPI companies authorised by The Ministry of Justice in the last 5 years one company said it sends out each day

Eye Watering PPI Claims Facts & Figures

shared by jpgreg on Mar 06
Payment Protection Insurance (or PPI) has become a tad annoying of late - first it took thousands of pounds from people for worthless cover and now it interrupts our Dinner with sales calls and pings ...




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