Barclays PPI claims 2014
The latest reports show that Barclays have now set aside even more money to cover the amount of PPI claims that are expected to be made in the last quarter of 2012.
Due to receiving even more claims than expected the bank has now set aside another £700m on top of the initial £1Bn in 2011 and extra £300m at the start of 2012.
It is now common knowledge that PPI was supposed to protect people if they couldn’t meet their loan repayments however one of the biggest reasons for it being mis-sold is due to the borrower not actually being eligible to make use of the payment protection if the situation ever came around, for example someone that is self employed would not be eligible. This is why there are so many claims being processed at the moment.
The now means that Barclays have made the second biggest provision following Lloyds Banking Group that have set aside £4.275bn, this huge increase from Barclays will most likely mean that other banks will follow suit and also be upping their PPI funds.
In a recent survey it was found that a lot of people have been put off making a claim as there has been so much bad press lately about the whole topic of PPI with many claims companies being slated for their extremely high fees and now not enough people making the claims the DIY way could result in these provisions not being used up.
How To Make A Claim With Barclays
If you think that you may have a case for mis-sold PPI from Barclays then we strongly urge you to take the steps to get back the money that is yours. To get started you will need the following things:
- Your name and address
- Your account number and sort code (for confidentiality reasons, only send your sort code in an email)
- A daytime telephone number and any times you would prefer us to contact you
- Details of what you’re concerned about, including policy numbers and references and copies of any relevant letters and policies.
For more information on making a claim visit the office Barclays claim section here.
As of the end of July 2014 Barclays has set aside a further £900 million towards mis-sold PPI. This means that if you had a loan through the bank you should make sure that you have claimed your PPI back as you could stand to receive thousands of pounds.