Bradford and Bingley PPI
Claim back mis-sold PPI from Bradford and Bingley or any other bank
Before they were broken up and taken over by Santander in 2008, Bradford and Bingley was one of hundreds of financial services organisations who was found to have mis-sold payment protection insurance (PPI) to their customers on a frequent basis.
The widespread mis-selling of PPI has caused major damage to the UK economy; however, in recent years the Financial Services Authority has caught up with unscrupulous lenders and after a court ruling banks and other financial institutions are required to pay back everything they have unfairly charged their customers on PPI policies.
Even though they have ceased trading, you can still make a mis-sold PPI claim against Bradford and Bingley. They still offer services to their existing customers, even if they are deemed insolvent and therefore unable to pay claims made against them, there is a fund known as the Financial Services Compensation Scheme (FSCS) which covers such situations and provides a pool of money from which compensation payouts can come.
Banks and lenders have been using dishonest means to mis-sell PPI to unwitting customers for years – however, as the sheer level of PPI mis-selling has come to light, the Financial Services Authority has finally laid down the law, and held lenders accountable for their indiscretions.
Any customer that has been mis-sold PPI now has the option to claim, and you could well be one of those customers. If you act today, you may discover that you are entitled to thousands of pounds in compensation. When you are looking to claim, the help of our financial claims service or the counsel of one of our helpful financial solicitors could be vital.
This industry-wide practice of mis-selling PPI has led to a situation where many customers are left paying for an insurance they can never uses or didn’t even know about. This mis-selling was done by banks and third party brokers on an extremely large scale. It has been approximated that up to 70% of the UK adult population could have been mis-sold PPI.
Despite the thousands of people who are already better off after lodging a successful claim for mis-sold PPI, it is still estimated the many more people are sitting on a bounty and not claiming what is rightfully theirs.
There are a number of grounds for claiming that you have been mis-sold PPI, and if any of them apply to you then you could have a strong chance of winning compensation. You could have been ineligible to claim on your PPI policy for a multitude of reasons – for example because you were too young or old or because you weren’t of a qualifying employment status. Similarly you could simply not have been aware that the lender was intending to add PPI or you were told it was compulsory.
If any of these are the case, it is likely you will be able to make a claim.
Share your experiences
Please note: The views expressed in community areas of this site do not necessarily reflect or represent the views of Law on the Web, its owners, its staff or contributors.