Barclays PPI Claims
Have you taken out a loan, mortgage or credit card with Barclays?
If you have taken out any of the three then it’s also possible you took out payment protection insurance to ensure you could make your payments if you were ever to come out of work through accident, sickness or unemployment.
But it’s also possible that the insurance was mis-sold to you if you didn’t want it, need it or could not have benefitted from it because of an exclusion clause.
In the scandal which has grown up surrounding the mis-selling of PPI, Barclays is the most complained about single bank in the UK. It has set aside more than £4 billion to pay compensation for successful PPI claims.
The industry as a whole has already paid more than £11.4 billion back to consumers since 2011 and has earmarked a further £7 billion for future successful claims. However, some industry observers claim the final total bill could be as much as £25 billion.
Barclays, along with Royal Bank of Scotland, was also involved in the LIBOR rate rigging scandal of 2012 and was fined a total of £290 million by the US Department of Justice, the Commodity Futures Trade Commission and the UK’s Financial Services Authority.
How was PPI mis-sold?
There are a number of ways in which your Barclays PPI policy may have been mis-sold to you, including:
- Did Barclays tell you the policy was optional and that you didn’t have to take it?
- Were the costs of the policy explained to you as a separate item?
- Did Barclays warn you that your employment status might affect your right to claim on the policy?
- Did Barclays make to you aware that if you received full sick pay from your employer you did not need the policy?
- Did Barclays explain the exclusion clauses in the policy like not being able to claim if you had a pre-existing medical condition?
If the answer to any of the above is no then you have the right to claim back all your premiums because the policy was mis-sold to you.
Claiming back PPI
Claiming back your PPI through Gladstone Brookes couldn’t be simpler. Either complete the PPI claim form on this website or call us on 08000 149 014 and one of our friendly, knowledgeable staff will be happy to discuss the issues with you.
If you make a successful claim then Barclays must pay you back all the premiums you paid, plus interest plus a further 8%.
Gladstone Brookes has an 87%‡ success rate on the claims we make on behalf of our clients and we have already recovered more than £362m from claims against all the major banks.
Making a claim
Once a letter of claim is issued to Barclays, the bank must acknowledge it as soon as possible and then have 8-16 weeks from the date of that acknowledgement in which to give you a final decision.
If your Barclays PPI claim is a success, the compensation will be paid direct to you and Gladstone Brookes will then invoice you for our fees which are 25% or any financial benefit received + VAT.
Of course, your claim might also be rejected, but if that happens Gladstone Brookes will assess the terms of the rejection and advise you whether or not an appeal to the Financial Ombudsman Service (FOS) to overturn the decision might succeed.
It’s all part of the same no win no fee† service. Our specialist team will carefully examine the rejection letter and, if they feel there is the chance they can get the decision overturned, they will write a bespoke appeal for submission to FOS. The annual success rate for appeals to FOS, according to the Financial Ombudsman Service website, is currently running at 75%.