…or are they all rubbish!

Way back in the past I’m sure I’ve had PPI on various loans and cards, but I really don’t have time to chase the banks/card companies individually.

So has anyone used a PPI company and had a positive experience? I’d rather have 70% of something than 100% of nothing (which is what I’d have if I did nothing!).

but I really don’t have time to chase the banks/card companies individually.

Doing it yourself, is probably no harder than using the companies, they’ll still need the same info. All you need to do is write one letter requesting that the bank/whatever check. and they’ll send you a form, fill that in, and send it back…Then if it’s Lloyds, write to the Ombudsman 😆

I had a word with the nice lady who looks after my accounts with Lloyds, she gave me a phone number to call to get the paperwork, which I dropped in to her, and she did all the necessary box ticking, which shed kindly offered to do.
A little while later she called me to say my claim payment had come in.
Virtually no effort required on my part, and I got back the entire amount, not the 70% that a claims company will give you.
I say around 70%, the claims people say they can get back up to £7000; I got back £11,680…

If you’re sure you had it then you probably weren’t mis-sold it.

I was hassled relentlessly by a company called Next Step Recovery who somehow managed to send me some claims stuff in the post. Their fee was 39.75%. 😯

When I ignored it I got a whole load of phone calls and text messages which stopped after a while and then restarted this time from a sub-company called First Target Recoveries.

Bunch of **** shysters the lot of them, really persistent. I must have blocked about 15 different numbers that they were calling from. Eventually they stopped bothering me but it took a while…

So no, I’d never trust any of them after that shambles.

Seriously DIY, go to banks web site to get address, down load standard form fill in send to said address take a phone call at some point wait for the money 😀

I’ve had over 25k back from 4 banks /cc companies.

Not sure how I would’ve coped with over 6 months of unemployment without my PPI. Bloody glad I kept it running.
No way I would have kept that money by to live on.

Quick dum question if I may;

The money returned is made up of some portion of previous loan/CC repayments that went to mis-sold PPI, rather than being increased by some compensation amount?

It’s just I’ve never paid that much toward CC interest, so can’t imagine any amount I’d receive back would be worth the effort to find it.

[Quote]If you’re sure you had it then you probably weren’t mis-sold it.[/quote]
Totally agreed, basically stealing, not that I wouldn’t, but atleast I am honest about it.

The money returned is made up of some portion of previous loan/CC repayments that went to mis-sold PPI, rather than being increased by some compensation amount?

The money you get back is the premiums you paid for PPI plus interest. Mrs R got some back with 8% pa interest, so it was probably one of the better investments we’ve made recently.

I wouldn’t touch a PPI claims company with a barge pole, that would be almost aiding and abetting.

Some loans etc could of had PPI added to them without you knowing about it, that’s the point you could of been mis sold it.
I can’t see any harm in letting a company look into it for you. What have you got to lose?

If you’re sure you had it then you probably weren’t mis-sold it.

Not really. I took out a £3k car loan when I got my first part time job. First loan, sat in the building society there was quite a bit of build up towards ensuring my application had the best chance of being agreed. First they wanted my Dad on the policy as guarantor. Then they ‘wanted’ me to take payment protection. I was under the impression it would increase the likelihood of the loan being agreed.

I still haven’t got around to claiming it back, I think it added about £5 a month to my premiums over three years, so only about £180, but its the principle. If it had no bearing on my application (apart from value to the bank) then it was miss-sold to me.

Finally, as I understand it the PPI would never have protected me anyway as my Dad was already guaranteeing the loan!

Aware of and sold correctly aren’t the same thing. The big winner is if you have stayed with or in full employment through out the loan, especially if you get a good sickness cover. Then there’s the pressure sales like above, I know was told similar, you’ll get a better chance this way or you’ll get a better interest with this added. All lies so sales can get their extra bonus for selling uncessary add ons.

You have to wonder when the after-effects of PPI claiming will hit properly. Will the first time we see it be the removal of free banking, or will it be longer term in reduced pensions due to less growth in the banking sector?

If you’re sure you had it then you probably weren’t mis-sold it.

Many CC were sold to people with PPI loaded onto it as part of the deal whether it was wanted or not. Customers had no choice in the matter. Lloyds did this. A LOT

That’s a hell of a lot of borrowing to get £25k back!

If you’re sure you had it then you probably weren’t mis-sold it.

There’s always a one!

I was self=employed at the time of these loans and almost without fail you were very much left with the impression that if you didn’t take the PPI your application wouldn’t been seen in a favourable way. And getting loans as a self=employed person was hard enough.

What they neglected to say was that most of the benefits of PPI don’t apply to the self-employed.

So yes – I knew I was taking it (was given no choice). But it doesn’t mean I wasn’t mis-sold it.

i tried looking back at my mortgage history on experian i think it was, but they only go back so many years. i really cant remember who i had a mortgage with before this one, so i got no chance of remembering who i was with back in the day 😀 so ……im pretty much resigned to the fact that if i did have PPI thered be no proof anywhere.

I walked into the local branch of my bank and asked for the PPI claim form. I had a few personal loans with them over the years. It took a few minutes, a lot of shuffling and whispering, then disappearing out the back for about 5 minutes. They then returned with said form.
I filled in the bare minimum, account number, sort code etc.
Low and behold, about 3 weeks later I get a check for £4,500!

Credit card paid off and brand new TR Scout!

Best savings scheme ever! The interest they paid was more than the amount the owed.