It pays to persevere with your PPI claim

If you've had your mis-selling claim for compensation rejected by the bank, keep trying. Merryn Somerset Webb explains why.

If you have had your claim for compensation for payment protection insurance (PPI) mis-selling rejected, you shouldn't give up. That's the message out from Lloyds this week.

The bank has just announced that it has put another £1.8bn aside to pay customers for the decades of premium theft they have been subjected to. But not all of that is for settling new claims: £300m is being kept for a "re-review of previously defended complaints".

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