MSE News: Millions could face an EARLIER deadline to reclaim PPI

Caddyman

Mersey wrote: »

Yes, in short.


Not that surprising given the population of the UK.

I'm aware of the population size of the UK.

I'm just interested if anyone has any figures to back up the 'millions' of PPI claimant figures, as personally, myself included, I genuinely know of no one in my circle of friends and family that ever took out PPI intentionally or otherwise. I quite like statistics!

Placida

Caddyman wrote: »

I'm aware of the population size of the UK.

I'm just interested if anyone has any figures to back up the 'millions' of PPI claimant figures, as personally, myself included, I genuinely know of no one in my circle of friends and family that ever took out PPI intentionally or otherwise.

"Overall, since 2011, firms have handled over 18.4 million PPI complaints and paid over £26 billion in redress.” (FCA March 2017)

"A total of £262.5m was paid in June 2017 to customers who complained about the way they were sold payment protection insurance (PPI). This takes the amount paid since January 2011 to £27.7bn." (Monthly PPI refunds and compensation statistics FCA updated 06/09/2017)

Caddyman wrote: »

I quite like statistics!

https://www.fca.org.uk/firms/complaints-data/aggregate

Alpine_Star

dunstonh wrote: »

Actually, they are known as Client Care Letters or CCL for short.

Customer Contact Letters https://www.fca.org.uk/publication/guidance-consultation/gc12-04.pdf

Mersey_2

Caddyman wrote: »

I'm aware of the population size of the UK.

I'm just interested if anyone has any figures to back up the 'millions' of PPI claimant figures, as personally, myself included, I genuinely know of no one in my circle of friends and family that ever took out PPI intentionally or otherwise. I quite like statistics!

As Placida indicates, yes: many millions.


In fact it wouldn't surprise me if there are more PPI policies than the adult population, as some people had eg four store cards and a bank loan.


As for your last sentence - that reminds me of people saying they know no-one who voted Tory or Labour (when over 80% voted for one or the other). Widen your circle of friends is all I can suggest.