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PPI mis-sold claims – Barclays to settle

Filed under: Services — Tags: , , , — consumerfinanceclaims @ 10:03

Barclay’s decision to finally address the biggest banking scandal to befall the industry in recent years spells out for consumers, the end of what has been a long and frustrating road. The bank has said it will pay out compensation to everyone to whom it sold payment protection insurance and who registered a complaint before 20 April 2011. To this end, all those who did make a claim before this date should be receiving some welcome news in the post.

By way of compensation, customers will be reimbursed the total value of all premiums paid, plus 8% interest. It is expected the move could affect tens of thousands of customers and includes all those complaints that were put on hold during the judicial review into PPI. Barclays will be the first bank to settle PPI compensation on a “no-quibble” basis.

Barclays has set this cut-off date of 20 April for automatic reimbursements, whilst it has also said that any complaints received following that date will also be assessed on individual merit. Payment protection claims pots have been set up by all the big banks, with Barclays’ setting aside some £1bn ($1.6bn) to cover PPI policies that it may have mis-sold.

Barclays conceded that customers have waited long enough because of the long-running judicial review into the affair. Their decision should allow them to clear the backlog quickly and allow them to assess new complaints more quickly and efficiently.






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BulletpointsAverage claim value £2500

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Congratulations! You're one step closer to receiving your compensation for mis–sold Payment Protection Insurance.


If all details look OK you will receive a Claim Pack through the post, usually within 48 hours. If there are any issues we need to discuss one of our advisors will call you.


Either way you need to return your Pack as quickly as possible to prevent any delays with your claim!