Reclaim your Mis-Sold PPI By Next
Next And PPI
If you ever said yes to an account with Next. Then you may have said YES to PPI without even knowing.
Incredibly, Next automatically applied PPI on all accounts from late 1988 and only stopped this ridiculous money making practice in August 1993. Equally unbelievable is that the cover, specifically excluded the self-employed. New Payment Protection Insurance continued to be sold on all new Next Account up until mid 2007. Finally in December 2011 Next took the decision to no longer provide cover for all existing account holders.
Often when we think of consumer debt, we tend to shove store accounts and store cards to the back of our minds. Next were let's say, a bit of a guilty pleasure. The stores were immaculate and full of new design ideas and of course clothes.
The delivery of he new Next Directory was always eagerly anticipated. It was great, you could make you, your home and your kids, the envy of your friends and neighbours and you didn't even need the leave the house. It could all be done over the phone or on-line.
From our experience, the vast majority of Next Store Account and Store Card customers, were used to having a running debt. Typically, many account holders simply dedicated a £100 a month or so towards their ongoing balance. You didn't ever look at the balance or small print on your monthly statement, just the contents of your eagerly awaited delivery.
Now, if you had looked at your statement this is very well what you might have found - Payment Protection Insurance. It might have only been a few £'s a month, BUT it cost absolute fortune.
An average credit card back in the day was charge out PPI at £0.65 per £100 of balance. Not Next though. Right from the outset, Next charged out their account cover at £1 per £100 of balance. Massively, massively more expensive that an average credit card. On top of that their interest rates have always been hugely more expensive than a normal credit card. As a result some of our claims, even for customers with regular balances just in the £hundreds, have been substantial.
The Beat the Banks team are experts in claiming mis-sold PPI from Next, especially for accounts opened pre 14 January 2005, when the sales of their accounts did not fall under FCA, GISC or ABI regulation. We always make sure we recover the full file from the lender to be 100% certain, as to where and when the protection was sold - vital if you want to be accurate when submitting a claim for mis-sold PPI. Sadly other PPi companies can't be bothered to do this. It's way too much work for their call centre models.
So, if you you have been mis-sold Payment Protection Insurance by Next and would like to know more, you can contact our team on 01382 200474, one of our local numbers, or for free on 0800 193 1234. Even if you have closed your account up to 10 years ago, we should be able to help you recover the compensation that you are rightfully due.
Time To Beat Next
Beat The Banks care, we care about you, we care about reclaiming what's rightfully yours and together we will continue to Beat Next and the other store card who mis-sold PPI.