Reclaim PPI Against Barclays Bank
One of the world’s most famous financial names, Barclays Bank can trace its beginnings back to London in the 1690s. That all too recognisable eagle logo is a familiar face in our high streets, and it can be seen all over the world thanks to the organisation’s global growth over the years. Before the PPI scandal broke, Barclays was one of the most trusted companies in the British banking sector.
Thanks to high interest rates in the late 1980s and into the 1990s, Barclays and its rivals enjoyed large profits and a steady stream of revenue. But as soon as the rates dropped the sector had to look elsewhere in order to keep the money flowing in. It was at this time that Payment Protection Insurance came to be seen as a profitable add-on to various financial transactions.
If you had a loan, a bank account, a mortgage or a credit card with Barclays during this period and into the 2000s, it may well have had a PPI policy attached to it. Like many other financial institutions that we once trusted, Barclays embraced the PPI scandal with great gusto. Policies were sold enthusiastically, often aggressively, by sales teams that were heavily rewarded if they met their targets.
We all know now of course that PPI was a wonderful product for the financial sector but a sometimes terrible one for the consumer. In many cases, the cover it provided served very little purpose, yet it often cost a small fortune in premiums. The UK’s banks, building societies and credit providers have set aside billions of pounds in order to pay the flood of compensation claims that have come their way.
Choose the claims company that goes the extra mile
If you are thinking about engaging a claims management company, there are two types to choose from. There are those who ask the PPI providers for the briefest of information in order to mount a case that brings a quick win but may only scratch the surface of what really happened, and there is Beat the Banks. Our research goes far deeper in order to stake a claim that’s based on the big picture.
We have a skilled, knowledgeable team of specialists, many of whom have worked for a number of years in the banking industry. We know about all the tricks that were used to sell PPI on an industrial scale back in the day, and we know how some companies have done all they can to avoid paying compensation when a claim has been made. We believe in bringing justice to the victims, and we do it with energy and determination.
There was a time when Barclays Bank would never have been thought of as the type of company that would put sales targets before customer trust, but like the rest of the industry they became ever more eager to jump on the PPI bandwagon. There were huge profits to be made, and the more aggressive the sales team were the greater those profits became.
We have helped a large number of people to get the justice they deserve in recent times, and with the PPI deadline fast approaching we are more determined than ever to keep fighting the good fight. The way the banks behaved during this dark period in the UK’s financial history was shameful, and we will do all we can to make sure the public are compensated. We feel we are righting a wrong that should not have been allowed to happen in the first place.
Please contact our team today on 0800 193 1234 to find out more.