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Victims of Equitable Life to Get Back Less Than a Quarter of Their Loss
15/02/2011
It has been announced that individuals that fell victim to the Equitable Life scandal will receive less than 25% compensation with more than half receiving a payout of less than £250. Individuals will have to wait six months more before the first payments begin to be sent out, with many not arriving for several years.
The company ran into problems because it did not have the funds to meet the high annuity rate and big bonuses promised to its customers.
Homeowners aged over 55 years who are affected by the low payout and would like to know how much money the value of their property could release to help increase their income, can find out by contacting therightequityrelease.co.uk for equity release advice.
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