The claim specialist has backed victims of the insurance scandal throughout the UK, successfully retrieving 69,000 compensation payouts since 2011, and is on track to support in returning up to £10bn to those affected.
From its high success rate, First Target Recoveries has identified the PPI claims capital of the U.K as Birmingham, having recovered £3.8m from banks for the city’s proactive residents. This has resulted in an average payout of £3,863 for Midlanders, which is 93% higher than the national average payout of £2,000. Glasgow and Sheffield, follow closely where claimants have taken back £3.5m and £3.1m respectively. Over 50 locations including Leeds, Belfast and Liverpool have claimed back over £1m in payouts.
The Financial Conduct Authority has now handed down a deadline of two years for those seeking compensation to claim, prompting those still owed to take action before 29th August 2019. Banks have set aside £36bn for compensation claims, with a large number of people in the UK still eligible to claim. Since the scandal broke in 2005, banks have paid out £26.7bn to millions of customers.
Chris McCabe, Group Associate Director at First Target Recoveries, said: “We are delighted to have successfully claimed such a significant sum for over 69,000 people, nationwide. With a deadline now in place to reclaim mis-sold payment protection insurance, it is more important than ever for people who believe they may be entitled to a claim to act before the deadline passes.
“There is £10bn waiting in banks for people who may not be aware that they have a claim and we encourage them to get in touch with First Target Recoveries to recoup what is rightfully theirs.”
First Target Recoveries encourages anyone who believes they may have a claim to get in contact as the astounding numbers reveal just how many claims there are yet to be addressed. Britain’s Financial Watchdog revealed that only 1 in 5 potential complaints about mis-sold PPI had been made this year.
People wishing to make a claim can contact First Target Recoveries on 0800 012 6460 or visit the website on www.firsttargetrecoveries.co.uk/
"There is 10bn waiting in banks for people who may not be aware that they have a claim and we encourage them to get in touch with First Target Recoveries to recoup what is rightfully theirs."
Chris McCabe, Group Associate Director
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