Reclaim Mis Sold PPI Against Laura Ashley
One of the most famous names in our high streets, Laura Ashley were as keen as all the others when it came to selling PPI policies with their store cards. During the lending boom from the late 1980s onwards, store cards proved to be an extremely popular product to offer the public. There was something very satisfying about purchasing the latest fashions without having to pay for them there and then.
But what many consumers didn’t realise was the fact that interest rates on store cards were far higher than standard credit cards. Somehow, we seemed to lose sight of that little gem of information. It seemed more rewarding to use the store card, even if it came with a PPI policy that was next to useless for so many people. Psychologically, it may have felt like a quick win against the store, although in truth the store was winning every single time.
The sales staff at the tills in Laura Ashley stores and of course in many other shops across the UK were offered tempting incentives to push the PPI, so that’s what they did. Time and time again, consumers were enthusiastically persuaded to say yes to a policy along with their shiny new store card. We all know now, of course, that the benefits offered by PPI were pretty much a one-way street.
Buy now, pay later – what could possibly go wrong?
Buying now and paying later for the latest consumer goods seemed such an attractive proposition, but if you didn’t pay off the full balance on your store card account the amount you owed would increase significantly. And if this resulted in you owing thousands rather than hundreds of pounds you ended up being unable to pay the whole amount any longer. The interest, not to mention the PPI premium, just got bigger and bigger.
For high street giants like Laura Ashley, selling store cards with PPI attached was oh so easy. Consumers wanted instant gratification, and this was the way to get it. We as a society came to rely on credit ever more strongly, and the credit providers got richer and richer as the profits flooded in. By the time the selling of PPI came to be seen as an injustice, many millions of pounds had been spent.
The team at Beat the Banks has the experience and the know-how to mount strong and tenacious compensation claims for mis-sold PPI from Laura Ashley and every other high street giant that embraced this source of revenue in the past. Our specialists have worked in the banking industry, they know just how much aggression was used to sell PPI, and indeed just how much of a white elephant the product turned out to be.
To find out if you’ve been a victim of PPI mis-selling in the past, whether by store card or any other financial product, please get in touch today. We’re available on 0800 193 1234 right now to discuss your case.
We look forward to hearing from you soon.