Barclaycard PPI reclaim
If you have a credit card then it is very likely your lender offered you some form of payment protection cover. Payment protection aims to protect the borrower by insuring their outstanding debt against involuntary unemployment. The cover has attracted a great deal of controversy; however, as many people feel it represents poor value for money. Evidence has also emerged to suggest the cover has been frequently mis-sold.
Every fifth credit card in the UK is provided by Barclaycard making it one of the country’s leading providers. The lender also sells payment protection insurance. If you have a Barclaycard with a payment protection policy that you think may have been mis-sold you have the right to make a Barclaycard PPI reclaim.
If you are unsure whether your policy was mis-sold it is helpful to think about the information you were given at the point of sale. One of the major ways in which payment protection cover was mis-sold was when sales staff gave customers incorrect or misleading information regarding the cover. This could range from the customer being incorrectly told they had to have the cover to being advised that certain circumstances were covered by the policy that were not.
Another key way in which policies were mis-sold is when they were offered to customers whose circumstances made them unsuitable. If, for example, you had a pre-existing medical condition or were self-employed you may not have been eligible for the insurance. Unfortunately, because of a lack of training or human error the cover was sometimes offered and taken out by customers who should not have been given it. In many cases these customers paid into the policies in good faith unaware they would never be able to use them.
If you feel you may be entitled to make a Barclaycard PPI reclaim, or payment protection insurance claims against another lender, you can speak to a member of our team by calling 0207 471 2000.
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