UK-based adults may all be due a share of a multi-billion pound total in the near future.
New research from Consumer Voice has revealed that at least four group legal claims against huge corporations breaking rules could result in millions being compensated for past purchases.
What do Consumer Voice do?
Consumer Voice is a website and organisation that helps consumers get money back from businesses that break laws, for free.
They provide unbiased information about all group claims that are currently ongoing across the UK, making progress of claims easy to track.
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A group claim is basically when a legal claim is brought to justice by a group of people who have all experienced a similar loss due to a law being broken.
Law firms help to bring these to a tribunal or court to get consumers their compensation.
Now, Consumer Voice has found that if all these claims are won, UK consumers could be owed up to a whopping £22.5 billion.
Analysis shows that, on average, each adult in the UK may be eligible for money back on at least four of these group claims.
What brands stand accused?
Data from the study is taken from 12 group claims that have accused big brands of increasing prices, directly ripping consumers off.
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They have all been certified to proceed to trial by none other than the UK competition tribunal, a massive sign that the court believes there is a case.
Companies such as Google, Apple, Sony PlayStation and Mastercard are among those being accused of abusing their power in their respectful industries, breaking competition law.
The first case to take place will be against BT, with the trial set to end this week, and it seeks £1.3 billion in compensation for claims of overcharging for landline services.
If the company are guilty, more than three million BT customers could be recipients of up to £400, each.
How much exactly will consumers be owed?
Of course, the exact amounts will depend on the person's circumstances and specific claims that they are a part of.
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In what has become the biggest consumer claim in UK legal history, you could even be owed £300 for doing your weekly shop if you used Mastercard.
Gamers listen up too, because if you bought PlayStation games or any in-game purchases, you could be eligible for a payment of up to £560.
The estimated amount of £22.5 billion might just be the start of it, with 19 further claims awaiting approval from the Competition Appeal Tribunal.
Co-founder of Consumer Voice, Alex Neill, said: "Rule-breaking businesses will owe an eye-watering amount of money to consumers.
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"Yet people may not claim what they’re owed due to a lack of awareness of group claims, fears about scams and a perception that the process will be complicated.
"We want to ensure people who have been ripped off are confident and ready to step forward when cases are won. These claims seek to level the playing field by holding companies accountable for their actions and helping people get back what they’re owed."
Getting the ball rolling
The process of actually receiving compensation will take time, as keeping track of claims won't be easy for consumers to manage, especially with the sheer number of them.
For example, the case with Mastercard is set to conclude in 2025 or 2026, with the process following that set to take time, if they are found guilty.
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Some people may not be aware that they're included in these claims if they have been harmed, even if they didn't make the complaint, as the local regime introduced by the Consumer Rights Act in 2015 means that one consumer can bring the claim to court on behalf of everyone affected.
A Google spokesperson said: “This case is speculative and opportunistic - we will argue against it vigorously. People use Google because it is helpful. We only make money if ads are useful and relevant, as indicated by clicks - at a price that is set by a real-time auction. Advertising plays a crucial role in helping people discover new businesses, new causes and new products.”
LADbible has contacted Apple, Sony PlayStation and Mastercard for comment.
Joshua Nair