If you’re wondering whether you have a payment protection insurance (PPI) claim or if it’s worth while making one, then have a read of this…

The Financial Services Authority (FSA) reckon that there is £1bn – £3bn worth of unclaimed PPI refunds and compensation money to be reclaimed and over all; the banks and insurance companies may have to pay back around £4billion to customers.

These figures come from the City watchdogs first estimates on the scale of repayments due to people who have been mis sold PPI alongside credit cards, loans and even mortgages. The amount of policies that have been mis-sold is shocking; independent consumer protection group Which? put the number around 2 million. This means that on average, each person with a mis-sold policy is owed £2000 PER POLICY by a lender or insurer. Still thinking whether it’s worth making a claim? We’ll have more on this tomorrow.

Related posts:

1. Mis sold PPI Compensation Claim More Likely To Pay Out Than A Claim On A PPI Policy
2. Mis Sold PPI And Recession Gang Up On UK Public
3. £60million PPI Compensation Package Agreed On As MPPI Sales Increase
4. PPI Claims Helped By Press Power
5. Mis-sold PPI Nearly Took Their House, Until The Press Stepped In