Banks Pay Staff £250 Per Day!
The PPI scandal is set to bet dragged out even longer as staff struggle to cope with demand of dealing with mis-sold PPI claims.
Most banks who have mis-sold PPI have outsourced contractors – paying them up to £250 PER DAY to try and find ways of rejecting your mis-sold PPI claim. Many of the contractors have quit due to the massive volume and high targets. The banks who mis-sold PPI with loans, mortgage and credit cards are paying so much and targeting so high so that they can get rid of the mis-sold PPI complaints as quickly as possible.
There is also speculation that the lenders who mis-sold PPI will try to get the complaints time barred – meaning there will be a set time limit for which you will be able to claim compensation for mis-sold PPI.
Complaints for mis-sold Payment Protection Insurance increased by almost 130% in the first six months of 2012, compared to the last six months of 2011, reaching more than 2.2 MILLION in the six month period according to the Financial Services Authority.