Barclays PPI fund increases by £200m

With Lloyds and RBS confirming earlier this week that they would be increasing the overall PPI compensation bill by £1.35 BILLION, up next is Barclays.

It has come as no surprise that they have followed their competitors and added a substantial sum to their own Barclays PPI fund, taking the total set aside this week between Lloyds, RBS and Barclays to over £1.5 BILLION.

This latest increase of £200m by Barclays follows on from £900m and £170m increases in the last two quarterly releases of 2014.

£1.27 BILLION in just over 6 months

With the banks and lenders who have been caught up in the biggest financial scandal ever to hit the UK seemingly unable to put a true figure on what the final bill will be, we have taken a closer look at the numbers.

Our estimations have always placed the final PPI bill at over £30 BILLION, much to the disagreement of city experts who have until recently suggested a number closer to £25 BILLION.

This latest round of figures released puts the overall PPI bill for UK lenders at over £27 BILLION, and with the end clearly a long way off it appears these so called experts have got their numbers very very wrong.

Millions still to come forward to claim

It’s generally accepted that the vast majority of people who were aware they had paid PPI have now made a claim, although many thousands are still coming forward on a daily basis.

However, with PPI often being hidden or not explained to a huge number of customers, most people who are now coming forward are not initially aware as to whether they’ve had PPI.

Our estimation puts the number of people yet to stake their claim at close to 7 million.

Making a Barclays PPI Claim

Not sure whether you’ve been sold PPI? Our fast and comprehensive checking systems that have been set up with almost all banks, including Barclays and Barclaycard, allows you to find out whether you’ve been one of the millions who have had PPI.

Not sure whether you qualify? Check here to see whether you may.

Want to know how much you may be owed? Why not try our PPI calculator.

If you have had a loan, mortgage or credit card within the last 25 years there’s every chance you’ll have been paying for PPI.

We’ve made claiming easy, taking the stress out of you having to deal with the paperwork, the stress, and the tactics employed by the bank to try and wriggle out of paying.

So….how do you start your claim?

#1: The first option for you is to fill in the form which can be seen on every page. By doing so, we will send you out a form in the post for you to complete. Once we’ve received the form back in the freepost envelope we send you with your form, we can make a start on your PPI claim.

#2: The second option for you is to download our form, which again can be found on every page by clicking the ‘download pack’ button. Simply print it out, complete it and send it back to us, our address can be found here. Once we receive is back we’ll let you know and make a start.

Our team of experts are on hand to answer any questions you have via telephone, email or our live chat facility.

So….why wait, let’s get started!

Barclays PPI fund up £200m