When the big high street banks announced that they were setting aside nearly £10bn to pay for claims on mis-sold PPI, it revealed just how big the scandal was.
Now, as Barclays officially announce they are adding another £700m to the original fund it is clear the problem was even bigger than first thought.
Massive influx of PPI Claims
The bank say they have received far more claims than they had expected. According to the Financial Ombudsman Service, the mediator for unresolved cases, the number of complaints doubled in the first half of 2012.
This shows that the public have now become fully aware that they may be owed compensation and they are not waiting to see if the banks contact them first.
Claim back your money from Mis-sold Insurance
This extra money takes the total fund allocated by the banks to over £10bn, with Barclays now becoming the second largest contributor to that figure, after Lloyds Banking Group.
If you think you may have a claim it is worth calling us today on 0800 849 8060, we can help to investigate if your claim is valid and get your share of that £10bn back on a strictly no win, no fee basis.
Banks still achieving Massive Profits
Despite planning to pay out an additional £700m in PPI compensation, Barclays still expect to achieve three month profits of £1.7bn.
Do not miss out on your opportunity to claim back what is owed to you, call The PPI Team today on 0800 849 8060 or start your claim online.