Claims company recovers more than £128m in PPI for customers
Manchester-based financial solutions specialist First Target Recoveries has successfully recovered more than £128m for thousands of people who were mis-sold payment protection insurance (PPI).
The claim specialist h, successfully retrieving 69,000 compensation pay-outs since 2011, and is on track to support in returning up to £10bn to those affected.
Helping in its heartland, First Target Recoveries has successfully reclaimed £1.8m in mis-sold PPI for residents of Manchester, recovering an average pay-out of £3,181.
First Target Recoveries has identified the PPI claims capital of the UK 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 pay-out of £2,000.
Glasgow and Sheffield, follow closely where claimants have taken back £3.5m and £3.1m respectively. More than 50 locations including Leeds, Belfast and Liverpool have claimed back upwards of £1m in pay-outs.
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 August 29, 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.”
