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When Sue Evans of Fleet in Hampshire received a voluntary redundancy payment in 2000, she simply planned to put it in her regular savings account. But Abbey National, where she was a long-standing customer, was quick to suggest 'a better use' of the cash. Sue was urged to invest the money in a bond for five years by an advisor who claimed that members of his own family were signing up for the 'high growth' product.
A year later, Sue and her husband Adam were horrified to learn that their original investment had shrunk by a massive £4,000. "There was absolutely no mention of any risks at the time. It was just hype, hype, hype," said Sue, 37. "We were told to expect steady growth and a good return and couldn't believe it when we received our statement. We thought we were doing the right thing and were really worried about losing so much money."
Determined not to give up on their hard-earned cash, the couple approached BondCompensation.com to see if they had grounds for making a claim. Within just four weeks, the company secured a compensation payout of more than £8,000.
"It meant that we got all our money back as well as peace of mind and we couldn't have asked for more," said Sue. "We were very impressed with the service which was quick, friendly and efficient. The staff explained everything really well and it took just a couple of telephone conversations to sort it all out. Money worries are not something that people tend to talk about but I'd recommend BondCompensation to anyone in a similar situation," she said.
Now understandably wary of the financial services industry, Sue has reverted to her original plan to safeguard her family's finances. "The money is now in a savings account which is where it's going to stay," she added.
Ian Allison, claims director for BondCompensation.com (a Division of Brunel Franklin), said the Evans's case was a typical example of blatant mis-selling. "People trust the financial institutions to act in their best interests but sadly that isn't always the case. I'm delighted that we were able to turn things round for Mr and Mrs Evans who, like many other innocent victims, did not deserve to be given poor advice and have their money gambled away."
"In our experience, it's all too common for people to be told about the advantages of a particular bond while advisors gloss over the question of risk and don't properly explain the terms, conditions and possible pitfalls," he warned.
Anyone who thinks they may have invested in a mis-sold bond should get help straightway and BondCompensation.com will do everything possible to make sure they receive the maximum payout to which they're entitled.
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