Shropshire Seagull
Well-known member
The PPI thing has quietened down a bit now, most of you, like me, were probably bombarded by persistent claim hunters.
I'm interested to know your experiences.
I'm interested to know your experiences.
PPI
- Thread starter Shropshire Seagull
- Start date
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Tricky Dicky
New member
Got back £7,500 very easily. No need to go through a 3rd party. I had always maintained that the company (Egg) had charged me incorrectly, and I proved it.
Daddies_Sauce
Falmer WSL, not a JCL
- Jun 27, 2008
- 883
I still do not understand why the onus is on the customer to put in the work and place a claim. These companies know they did wrong and should just contact their customers and pay back the funds.
MattBackHome
Well-known member
- Jul 7, 2003
- 11,873
Got back nigh on two grand for the price of a stamp.
Dr. Notthenineo'clocknews
Remainer
I had to do a bit of digging but I got a few grand back off Lloyd’s for loans c 1990.
It was made slightly easier due to the fact that I still have the same account with them
It was made slightly easier due to the fact that I still have the same account with them
Bob!
Coffee Buyer
- Jul 5, 2003
- 11,631
nicko31
Well-known member
The whole PPI says a lot about today's society, people not wanting to take responsibility for their own actions. Always want to blame someone else
Wasn't it compulsory?
Normski1989
Well-known member
I only had PPI on a small Capital One credit card. Claimed myself and got back about £600.
Papa Lazarou
Living in a De Zerbi wonderland
I haven't done it, but I probably will do. I don't have a lot of time, so I might just give it to one of those companies.
Shropshire Seagull
Well-known member
- Thread starter
- #12
You see, that's my position too. Having told countless random callers over the last 3 years to piss-off, I'm now moving towards a "nothing to lose" mindset.
I was called by "We Fight Any Claim" and they caught me at a time when I wasn't particularly busy - now their claims pack has arrived.
I've gone back through all my old records to 1988 [sorry-accountancy background] and established: 10 different mortgage lenders, 7 loans and 12 different credit cards. 29 different financial products in total.
Now, I don't think any of them had PPI so I'm not expecting anything ....
How long does it take for the claims company to get back to you to say "sorry, no claim here" or "see cheque enclosed"? times 29 - e.g. will I hear before Xmas?
Have a look at the Martin Lewis money saving expert web site, loads of stuff about it on there . I've claimed two lots so far, and two pending. I didn't even know I had one lot, they just whacked it on a credit card.
Postman Pat
Well-known member
Don't go through a company they skim loads off the top. It is so easy to DIY it. Check here : http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
Some of the point of the claim is that people were paying for PPI they didn't know they had, so even if you think you didn't have it, there is a chance you did.
The companies used to fob people off so it took a couple of letters to see a response, but I think they are just rolling over now. The speed of the response depends on the company you are dealing with, the bigger banks etc.. have dedicated teams and are keen to get the claims off the books, some of the smaller ones will take their time to investigate and respond.
I was pretty sure that I had never had PPI. I used a company (for free) to check and they have come back with nothing.
Surely it is worthwhile finding out, some of friends gave been refunded thousands of pounds.
Surely it is worthwhile finding out, some of friends gave been refunded thousands of pounds.
Super Steve Earle
Well-known member
Could it be because many customers genuinely and voluntarily took PPI for their own peace of mind? Could it be because many customers wouldn't dream of taking finance without PPI in case they lost their job or suffered ill heath?
PPI wasn't all bad and wasn't compulsory. However, it wasn't cheap and certainly was mis-sold by some organisations. I've seen it do a lot of good but, in my opinion, it was a simple way to hit back at banks after the last crash and give customers a chance to hit back. They could have 20 years protection on a mortgage, then say it was mis-sold and get their money back.
Many customers successfully claimed in time of need for 000's of pounds. But all staff who sold PPI have been tarred with the same dishonest brush, which obviously wasn't the case. The PPI ambulance chasers have made an industry out of claiming refunds and peddling the myth that all PPI was sold dishonestly because that's their business. They are equally dishonest by not making it clear how easily a customer can do it themselves.
Yes, I made a claim too. It was on a credit card and the seller ticked the PPI box after I left the store. He was on an incentive scheme and it took 6m to get it removed. But Santander paid up. The guy was dishonest, but not every seller was, so that's why PPI isn't automatically refunded - it wasn't automatically mis-sold.
boik
Well-known member
I've had PPI on a couple of loans, but seeing as how I understood what it was for and the bank explained what it was for, it would be immoral of me to even try and claim. I can't believe that all these people didn't seriously understand what PPI was? I know some people were sold PPI when it would never be applicable, but that's a minority. Everyone else seems to think it's just free money.
Arthritic Toe
Well-known member
It p's me off a bit that the refund payments seem to be well in excess the amounts paid in premiums the first place. If people are sold something that is not applicable to them they bear at least some responsibility for being stupid enough to sign up for it. Many people who had ppi were legitimately covered by it and should not be refunded. Both the above get their money back in full and much, much more. Once again, the prudent people who thought about it when they were offered it and chose to decline it are now picking up the tab for the gullible idiots in terms of the additional charges we must now all pay to cover the compensation bonanza.
These are probably the same prudent people who didn't go mad in the credit binge pre-2007 and are now paying the price for all the feckless idiots who did.
These are probably the same prudent people who didn't go mad in the credit binge pre-2007 and are now paying the price for all the feckless idiots who did.
murciagull
Well-known member
Tried to claim from Lloyds, had a bank loan in about 1980 but I have no paperwork and Lloyds came back and said they could find no trace of me having one. To be honest gave up after that but did wonder if may have been better to go through a claims company.