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Frank Hovis

PPI

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Text PPI to ..

 

I jest.  Don't go near the advertisers as they take half your compensation in fees.

Anyway I heard three things last week:

Banks are still making additional provisions

The interest rate on compensation is 7%

No claims will be accepted after August next year.

 

So despite not thinking I had any I did have a mortgage back in the 90s so for all I know it was part of the fees.  No paperwork or reference numbers.

Onto the FCA website to find out about it and in ten minutes I had made a claim / complaint.

It may of course be a waste of time but it was only ten minutes.

And that is why the adverts were wall to wall.  They do that ten minutes work for you and charge you half your compensation - say two grand or more.

 

Anyway, go here:

https://www.fca.org.uk/ppi/how-to-complain

Have a quick glance but mostly go straight to option (4) which lists out the banks and building societies and the links take you straight to their complaints forms.

Literally ten minutes though if you were with a predecessor who has now been taken over you will need to do a quick search to find out to which bank you are complaining.

 

Go on, ten minutes.

I don't think I'll get anything but who knows; better than a scratch card anyway and it cost me nothing.

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2 minutes ago, Malthus said:

PPI was an idiot tax , giving back the premiums plus interest hardly teaches people not to be idiots 

Just claim Malthus! Ignore the morality.

I have no idea if I get anything but it was that 7% that really piqued my interest as 7% compound over 22 years is about 400%.

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3 minutes ago, Frank Hovis said:

Just claim Malthus! Ignore the morality.

I have no idea if I get anything but it was that 7% that really piqued my interest as 7% compound over 22 years is about 400%.

Can’t never had PPI, because I researched it realised it was a very poor product for me and very good for the guys trying to sell me it 👍

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2 minutes ago, Malthus said:

Can’t never had PPI, because I researched it realised it was a very poor product for me and very good for the guys trying to sell me it 👍

Oh well.

Still if anyone did, or like me don't think they did but like to roll the dice, and has qualms about claiming it then think of it as reducing the amount of capital the banks are able to allocate to new BTL mortgages and so reducing HPI.

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i dont think i ever had it, and in fact complaining to my bank yielded no results last year, but bollocks to it, ill make them work again and re-complain.

I notice my equifax credit score has fallen even though nothing has changed, one of the reasons was that my credit limit is low, ie my only CC has a £1K limit, they put it up, i put it down, dont need much more. experian by contrast didnt change my credit score.

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49 minutes ago, Malthus said:

Can’t never had PPI, because I researched it realised it was a very poor product for me and very good for the guys trying to sell me it 👍

no mortgage and no credit card balance. did have cardguard for free with hsbc premier and got money back from that.

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1 hour ago, Inoperational Bumblebee said:

I had a nice sum back from a consolidation loan I took out after uni, but I've probably got more I could claim as I had an Egg card with an ongoing balance for ages. Ta for the direct link.

Go through Canada Operations for Egg https://www.citibank.co.uk/personal/complaints-egg.do. They recently paid out on a claim I made. 

52 minutes ago, Malthus said:

Can’t never had PPI, because I researched it realised it was a very poor product for me and very good for the guys trying to sell me it 👍

Don't be so sure. Egg put PPI onto my account without me knowing after a number of years with being with them and not having it. It was on the third card number so quite a while after opening the account. After receiving a spam email saying they can make Egg PPI claims I decided to check myself on the off chance, although I knew I never signed up for it. As it only took a few mins to fill the info out I had nothing to lose. A week later I got my account information and I was surprised to see they had, in fact, added it at some point without my knowledge. Filled out a claim form and they promptly paid out.

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1 hour ago, Frank Hovis said:

Just claim Malthus! Ignore the morality.

I have no idea if I get anything but it was that 7% that really piqued my interest as 7% compound over 22 years is about 400%.

If you'd known, you could have taken it out as an "investment".

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I'm pretty sure I've never had it. But I suppose it's possible. I had mortgage and I've had car loans back in the early 80s. I can't remember who from or even who I banked with at the time. How am I meant to get that info? Also, how do I prove it was miss sold, even if I had it? What if they say I asked for it? 

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2 hours ago, One percent said:

I had it on a mortgage for free. Once the first year free was up, I cancelled it. Can I claim fo something I was given for free?

We had one on a mortgage, it was free. We made a claim on it, it paid out a few pounds. We still put in a claim for compensation just to see. Our claim was rejected. :(

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3 hours ago, Malthus said:

PPI was an idiot tax , giving back the premiums plus interest hardly teaches people not to be idiots 

Agreed, but some of us were younger and more naive once. Some of us are also older now and not willing to look a gift horse in the mouth.

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10 hours ago, Uptherebels said:

I'm pretty sure I've never had it. But I suppose it's possible. I had mortgage and I've had car loans back in the early 80s. I can't remember who from or even who I banked with at the time. How am I meant to get that info? Also, how do I prove it was miss sold, even if I had it? What if they say I asked for it? 

You do need to know with whom you had them in order to make the complaint.

If you had no problem paying back the loans then you can say that you clearly didn't need the protection.

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Just applied for a ppi check for myself, wife, and mum. I suspect only my mum will have PPI, and knowing her, she will get a nice little windfall.

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I was very firmly of the belief that I had never taken out PPI. I recall being offered it once, and they tried hard to push on it me but I declined (or so I thought).

I have never taken out extended warranties or crappy isurance policies so I was confident I never had PPI.

So after years of getting pestered by calls and junk mail for PPI I thought what the hell and signed up with of these claims companies with the thinking that if they want to waste their time (and the banks) then fine.

Well, fuck me, turns out I had quite a few PPIs, one of which has already made an offer in excess of £1k

So absolutely they were adding this on without peoples knowledge or in my case against their will. I'm sure it was in the small print somewhere though, but certainly well hidden and not mentioned.

I don't like these claims companies, but to be fair the one I went with did all the running around and digging and getting credit reports to find old accounts. They take 20% plus VAT which is a lot, but not excessive compared to some.

Morally, I don't like it. But, I really would say to everyone to give it a go even if you are sure you never had PPI.

In fact, I would almost say it is your duty to do so. There is a pile of cash that all the feckless are clamouring over, any cash they get will be spent on fags, cheap tat and even cheaper tatts. I', sure the good people on here would put the money to better use.

If it makes you feel better then should you get a payout then consider donating some or even all of to a worthy cause, maybe a local charity that you trust or towards the legal fees of anyone in the public eye who is currently fighting the state on the subject of freedom of speech.

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17 hours ago, Malthus said:

PPI was an idiot tax , giving back the premiums plus interest hardly teaches people not to be idiots 

true,but people get older and wizer .i know a guy thats letting his claim sit there has he is geting 7% and he cant get rate anywhere.the real reason i suspect is that he is off work long term with anxiety and they might stop his free cash,

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1 hour ago, null; said:

I don't like these claims companies, but to be fair the one I went with did all the running around and digging and getting credit reports to find old accounts. They take 20% plus VAT which is a lot, but not excessive compared to some.


Which one?

Would there have been PPI on a phone contract? 

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35 minutes ago, sarahbell said:


Which one?

Would there have been PPI on a phone contract? 

Just PM'd you a ink rather than post it here.

Not sure about phone contracts, mine were all on various loans taken out over the years.

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Just now, null; said:

Just PM'd you a ink rather than post it here.

Not sure about phone contracts, mine were all on various loans taken out over the years.

:-D thanks. 

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2 minutes ago, null; said:

Just PM'd you a ink rather than post it here.

Not sure about phone contracts, mine were all on various loans taken out over the years.

Can i have it as well? Seriously doubt I had PPI but best to check I guess

TIA

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3 minutes ago, Cunning Plan said:

Can i have it as well? Seriously doubt I had PPI but best to check I guess

TIA

Link sent. No harm in checking, it won't cost you anything other than a few moments on some simple forms. I would rather check and find I didn't have it than not check and never know once the deadline has passed.

I was so surprised when ti came back that the lenders had confirmed PPI was aded. I always used to say to my missus that I wished I had taken it out given the way everyone seems to be getting compo for it.

I've completely changed my view on this now. Anyone who has had a loan or credit card in the last 20 years should get it checked.

I've often wondered if there is an element of the government liking PPI claims (and pushing the banks to pay out) as its a huge amount of money being helicoptered in, but all in smallish amounts that are likely to be spent immeidately giving the ecomony a short term boost.

Has anyone else had a PPI claim despite being certain they never had PPI?

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