What’s happening?..
• Around 30 million UK consumers mis-sold PPI
• Barclays have set aside an estimated £8,500,000,000 to cover claims
• You must act in order to be refunded
• Around 30 million UK consumers mis-sold PPI
• Barclays have set aside an estimated £8,500,000,000 to cover claims
• You must act in order to be refunded
What is PPI and why are people being refunded?
PPI (Payment Protection Insurance) was sold by banks alongside credit cards, overdrafts, loans and mortgages. Its
purpose is to cover repayments if you are no longer able to make repayments due to a change in circumstances.
Banks knowingly mis-sold PPI, meaning that millions of UK consumers were paying for a product that they couldn't claim against or did not even know that they were pay for.
As as result, the banks are now paying back on these policies (with interest added) to current and former customers.
It is estimated that over £40 billion has been put aside for consumers to claim back.
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