NorfolkAYA Posted October 26, 2015 Report Share Posted October 26, 2015 Hi there. This may be a stupid question but Just out of curiosity how do you know you have had PPI? Is it written into your agreement? Does it show up on payments? Kind regards Pete Quote Link to comment Share on other sites More sharing options...
big bad lindz Posted October 26, 2015 Report Share Posted October 26, 2015 Hi there. This may be a stupid question but Just out of curiosity how do you know you have had PPI? Is it written into your agreement? Does it show up on payments? Kind regards Pete Yea good question, I don't think I have ever taken out PPI so how can I find out if I have ? BBL Quote Link to comment Share on other sites More sharing options...
Dougy Posted October 26, 2015 Report Share Posted October 26, 2015 Can I ask why you believe this? I've been using them for years for identity theft protection purposes and it hasn't affected my credit 'score' in the slightest. Applying for credit too regularly would affect your score as a pattern of regular credit application searches would be viewed negatively but checking your own credit report is not viewed the same way and those type of searches are not shared with lenders. Penalising customers for using their services doesn't strike me as being a particularly viable long-term business model. http://www.experian.com/blogs/ask-experian/2013/08/16/the-effect-on-credit-scores-when-you-check-your-own-credit-report/ https://help.equifax.com/app/answers/detail/a_id/136/~/common-negative-credit-score-reasons Well It seems I have been misinformed, I was always led to believe that each time you checked your credit rating it actually affected it negatively. Quote Link to comment Share on other sites More sharing options...
MartynGT4 Posted October 26, 2015 Report Share Posted October 26, 2015 Well It seems I have been misinformed, I was always led to believe that each time you checked your credit rating it actually affected it negatively. Seems to be a very common misconception, so you're far from alone Quote Link to comment Share on other sites More sharing options...
norfolk dumpling Posted October 26, 2015 Report Share Posted October 26, 2015 NorfolkAYA - you may have bought it unwittingly ie if you've had a loan for a car it could have been built into monthly payments but the most likely is banking arrangements or mortgages. With the latter it was often a condition which might have determined whether you got the loan or not. As mentioned earlier you can download the enquiry form which you. Can send off to credit card companies or bank/ building society etc and they are duty bound to respond. Quote Link to comment Share on other sites More sharing options...
Dougy Posted October 26, 2015 Report Share Posted October 26, 2015 Seems to be a very common misconception, so you're far from alone Sorry Martyn I got it wrong, Mrs dougy has put me right. It's when folks see how much they can borrow for mortgages and they try umpteen different methods. Each time they apply it leaves a footprint, which she says can affect your credit rating. A little more to it but that's the short of it. Specially with my texting ability with my thumb. Quote Link to comment Share on other sites More sharing options...
Breastman Posted October 28, 2015 Report Share Posted October 28, 2015 Another recommendation to do it yourself (providing you can remember which company you had the load/credit card etc with!). Natwest sent me a claim form without me even asking for it and paid up straight away, and Northern Rock paid up pretty sharpish too. Had a bit of a struggle with Egg/Canada Square Operations in that i had to go to the Ombudsman but fingers crossed they should be paying up by the end of next week. Don't give up if they try to fob you off! Quote Link to comment Share on other sites More sharing options...
kingo15 Posted October 28, 2015 Report Share Posted October 28, 2015 I did my own with mbna they said I wasn't entitled to it. So I wrote off to the financial ombudsman it took a while but they got told to pay up which they did. The thing that got me was I got taxed on it. Quote Link to comment Share on other sites More sharing options...
AVB Posted October 28, 2015 Report Share Posted October 28, 2015 I find it incredible that 1) so many people took out PPI 2) that they didn't know it 3) the amounts that are being refunded. I've had the odd credit card/loan/mortgage in my life but always managed to tick the 'I don't want PPI" box. Am I the only one? Quote Link to comment Share on other sites More sharing options...
chrisjh Posted October 28, 2015 Report Share Posted October 28, 2015 at the risk of being pokey anyone who can claim PPI should be made to walk round with MUG inked on their forehead for a month , i cant claim anything because i wasn't gullible in the first place so always said no or checked to make sure it wasn't being added in and now its being worn like a badge of honer "i got £5000, £7000, £11,000 " etc etc no you were mugged off and now by a stroke of luck you can claim it back anyway i am not bitter Quote Link to comment Share on other sites More sharing options...
Breastman Posted October 28, 2015 Report Share Posted October 28, 2015 Yeah there aren't many 8% 'investments' on this level of money, you must be gutted 😄 Quote Link to comment Share on other sites More sharing options...
AVB Posted October 28, 2015 Report Share Posted October 28, 2015 Yeah there aren't many 8% 'investments' on this level of money, you must be gutted I assume that is the interest that you have received? Is that 8% per annum or over the term (since you took out the PPI)? If the former then that's incredible. If the latter then probably nothing spectacular. Quote Link to comment Share on other sites More sharing options...
Breastman Posted October 28, 2015 Report Share Posted October 28, 2015 Since the credit was taken out until the day of their offer. A couple of hundred quid PPI paid as a student 17 years ago can become several thousand... Quote Link to comment Share on other sites More sharing options...
guest1957 Posted October 28, 2015 Report Share Posted October 28, 2015 I assume that is the interest that you have received? Is that 8% per annum or over the term (since you took out the PPI)? If the former then that's incredible. If the latter then probably nothing spectacular. Amazingly the same as Lehman's unsecured creditors... Quote Link to comment Share on other sites More sharing options...
Hamster Posted October 29, 2015 Report Share Posted October 29, 2015 I find it incredible that 1) so many people took out PPI 2) that they didn't know it 3) the amounts that are being refunded. I've had the odd credit card/loan/mortgage in my life but always managed to tick the 'I don't want PPI" box. Am I the only one? In principal I agree with you, doing a few sums in your head would soon tell you it was very poor value for money but you'd have to have known and understood the terms and their implications. Having said that even I gave in about 15 years ago when the Natwest girl was all but begging me to take it and I felt embarrassed and took it knowing it was for a very short period. I haven't got the time or inclination to claim though plus I think it was too long ago. Quote Link to comment Share on other sites More sharing options...
Dougy Posted October 29, 2015 Report Share Posted October 29, 2015 I find it incredible that 1) so many people took out PPI 2) that they didn't know it 3) the amounts that are being refunded. I've had the odd credit card/loan/mortgage in my life but always managed to tick the 'I don't want PPI" box. Am I the only one? AVB,,, I would have been one of tbe 1st to climb to the highest mountain around and shout at the top of my "I HAVE NOT PAID PPI" But actually I had been doing so for 18 years from the time I applied for a mortgage. What you obviously fail to understand is the reason that PPI compensation is being paid, has been the way that it was sold, thats if "sold" is the correct word. In my case as many many more it was explained in such a way that it was insurance taken out on a mortgage for any illness etc and would cover me if I was unable to pay due to not earning. Not being offered any alternative to there in-house insurance was the reason for the successful claim. Quote Link to comment Share on other sites More sharing options...
Davyo Posted October 29, 2015 Report Share Posted October 29, 2015 Do it yourself,some of these firms ,sorry thieves will take up to 62p in the pound. You simply phone up who ever you has mortgage,loans,credit cards or what ever with.They send you a simple form,you fill it in & wait you get 100% with nobody robbing you. Quote Link to comment Share on other sites More sharing options...
harpoonlouis Posted October 29, 2015 Report Share Posted October 29, 2015 I don't believe I ever specifically bought PPI but wonder if it was bundled up into packages services I had through so called premium banking from Nat West. I recently got paid out a small sum from Credit Card Protection which was virtually automated. Makes me wonder if I should "claim" against Nat West and let them do the leg work to see if it was "hidden" within their services. Give the thousands I have paid them in fees over the years may be worth checking. Anyone had similar? Quote Link to comment Share on other sites More sharing options...
Davyo Posted October 29, 2015 Report Share Posted October 29, 2015 Years ago it was all miss selling from payment protection to personal pension plans.The so called independent financial advisors of this world steering you to an unbelievable package where they reaped the rewards for signing you up?Not interested in your finances but purely their own.When you got finance be it for a washing machine or a car there was always, 'you better take this out heaven forbid you fall off work!' They don't do it anymore other than trying to push 'gap insurance'. Quote Link to comment Share on other sites More sharing options...
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