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Barclays PPI refunds

Mis sold payment protection has dominated the financial headlines in recent weeks, but the story actually first began back in 2005 with an investigation by The Citizens Advice Bureau (CAB). The CAB investigation came as a result of numerous consumer complaints which saw the Bureau inundated with requests for help and advice regarding the mis-sale of the cover. The CAB highlighted its concerns and called for further investigation.

In 2006 separate investigations were launched by The Office of Fair Trading and The Financial Services Authority. Their investigation found failings across the PPI market and, as a result, many smaller firms as well as some larger lenders were fined.

The media attention created by the investigations raised public awareness of the issue of mis-selling and many customers began to demand Barclays PPI refunds as well as refunds from other lenders they believed had mis-sold them cover.

Since 2006, 1.5 million complaints have been received regarding Payment Protection Insurance and it is estimated that thousands, if not millions, more customers may be eligible to make a ppi reclaim.

If you believe you may have been mis-sold a policy and would like to claim a Barclays PPI refund you first need to establish whether your policy was mis-sold. There are numerous different ways in which you may have been mis-sold cover, but a good place to start is to think about the circumstances under which you were sold the policy. Below is a quick breakdown of the questions you should have been asked and the information you should have been given at the point of sale. If your lender failed in any aspect of this process it is possible you could apply for a Barclays PPI refund.

Your lender should have evaluated your suitability for cover

Before allowing you to take out the payment protection cover your lender should have looked at your circumstances, asked you questions and established whether you would be suitable for this type of cover. PPI is not suitable for everyone and if you were over the age of 65, under the age of 18 or you had an existing medical condition it is likely you would not be suitable for the cover. You should also not have been offered the cover if you were in full-time education, unemployed or retired as PPI is designed to cover for loss of employment.

You may also have been unsuitable for the cover if you had insurance in place elsewhere or were entitled to full sick pay from your employer.

Your lender should have explained the policy to you

Before you made a decision regarding whether or not to take out the cover, your lender should have made you aware of certain information including the full cost of the policy and any terms and conditions.

Your lender should have allowed you time to consider your decision

It is important that you were allowed to make the decision regarding whether or not to take out the cover in your own time. The salesperson should not have put you under pressure or made you feel you had any obligation to take out the insurance.

If you believe you may have been mis-sold Payment Protection cover you can start claiming Barclays PPI refunds by calling us on 0207 471 2000.

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