Adge Cutler Posted October 26, 2016 Report Share Posted October 26, 2016 (edited) I'm fed up to the back teeth with this bloody PPI issue.. every other call seems to be some "expert" telling me I am entitled to £2,000 + pounds of unclaimed PPI. Just put the phone down to one obnoxious cretin who tried to tell me that I didn't know what I was signing and that the bank or finance institutions clandestinely ticked the PPI box after I had signed the agreement. My answer was thanks very much, you have found my telephone number I assume you can find my address with the same ease so just stick the cheque in the post theres a good Chappy. I tried to explain that I have never taken out any PPI and that I always read the small print on any agreement cover to cover and if the agreement was altered without my sanction I would know about it when any monthly payment was altered. I have genuine sympathy for Anyone who has been deliberated misled..but if people are too stupid to read the small print then they get what they deserve...Caveat Emptor. Its about time the government stepped in and dealt with this issue once and for all and these parasitic claims companies. If if PPI claims and investigation is warranted they should set up a Government backed investigation scheme and not rely on a bunch of unregulated university graduates in Karachi or the Caiman Islands. Has any one noticed they are even somehow now by passing the STD code system so that an incoming call carries your local STD ! sneaky or what. Edited October 26, 2016 by Adge Cutler Quote Link to comment Share on other sites More sharing options...
four-wheel-drive Posted October 26, 2016 Report Share Posted October 26, 2016 This hole thing could be sorted out simply and quickly the banks now the people who they have conned out of money just make them contact all of the people and pay out and if they do not do it properly give them a gigantic fine problem solved in just a few months and all of these claims firms can miss out on there 40% for doing next to nothing. Quote Link to comment Share on other sites More sharing options...
keg Posted October 26, 2016 Report Share Posted October 26, 2016 There are still those who will fraudulently claim, be it insurance, PPI etc. Quote Link to comment Share on other sites More sharing options...
gibby Posted October 26, 2016 Report Share Posted October 26, 2016 http://www.thisismoney.co.uk/money/news/article-3833245/Banks-snatching-PPI-payouts-ve-paid-25bn-years-mis-selling-say-mistakes.html This made me laugh, bet there's some squeaky bums out there at the moment. Gibby Quote Link to comment Share on other sites More sharing options...
subsonicnat Posted October 26, 2016 Report Share Posted October 26, 2016 You do not need grubby little hands on YOUR CASH. If you do have a PPI,Just ask the bank to check,,it's your money why give them any of it.. Legal thieves ALL. Quote Link to comment Share on other sites More sharing options...
team tractor Posted October 27, 2016 Report Share Posted October 27, 2016 We checked for the business and received £18k back . Yep 18k . We are hot on small print but their was a hidden cost on a business loan we didn't even know about from 10/15 years ago . Most banks back then enforced you had it on business loans or just refused to lend it. It doesn't make people stupid I get mostly accident calls but love to wind them up now Quote Link to comment Share on other sites More sharing options...
Adge Cutler Posted October 27, 2016 Author Report Share Posted October 27, 2016 We checked for the business and received £18k back . Yep 18k . We are hot on small print but their was a hidden cost on a business loan we didn't even know about from 10/15 years ago . Most banks back then enforced you had it on business loans or just refused to lend it. It doesn't make people stupid I get mostly accident calls but love to wind them up now Yes sorry you're right even intelligent people have been duped. But I'm sure many, many people willingly took out PPI, legitimately sold and are now, or have already, claimed it back. Now it seems the banks are fighting back and if its fair and equitable to do so then so be it. Quote Link to comment Share on other sites More sharing options...
jonny thomas Posted October 27, 2016 Report Share Posted October 27, 2016 Had a phone call from the bank a few weeks ago asking why we'd taken action against them . I said I had not turns out one of these companies had started proceedings against the bank in our name without bothering us about it at all Can this even be legal? Quote Link to comment Share on other sites More sharing options...
Lord O War Posted October 28, 2016 Report Share Posted October 28, 2016 When I got my first loan I did ask , yes ask, for insurance but it was my first job and it was a 10K loan so my bum was a bit squeaky. I've never had it since and wont dishonestly claim it back. Quote Link to comment Share on other sites More sharing options...
Adge Cutler Posted October 29, 2016 Author Report Share Posted October 29, 2016 (edited) When I got my first loan I did ask , yes ask, for insurance but it was my first job and it was a 10K loan so my bum was a bit squeaky. I've never had it since and wont dishonestly claim it back. I was in the same situation once when I did agree to payment protection on a credit card, even so the company reckon I can claim the premiums back. but I wont because I was paying for a product that gave me piece of mind. I think this issue is going to bubble away for years to come to be blunt. Both my brothers are in the Banking industry they tell me there are millions of valid claims but million of bogus ones as well. The banks are concentrating on paying out at the moment and have set aside funds to settle all claims until the cut off date. After the cut off date for PPI claims, when all are settled I think the banks will then commit considerable resources to recovering the bogus claims...with interest. ! If its equitable it would be their right to do so. Edited October 29, 2016 by Adge Cutler Quote Link to comment Share on other sites More sharing options...
Jason_ox Posted October 29, 2016 Report Share Posted October 29, 2016 The next thing is people claiming for miss sold acounts. I believe it's happening now. I remember enquiring about an overdraft and being told I could only have one with this account that you have to pay £12 a month for. When in reality I was eligible without having a fee paying account. Quote Link to comment Share on other sites More sharing options...
Mungler Posted October 29, 2016 Report Share Posted October 29, 2016 (edited) The thing is that even people who asked for or wanted PPI have a claim because they were sold grossly over priced policies (which could have been obtained for a fraction of the cost on the open market) or the policies they asked for and were sold would have been ineffective and wouldn't have paid out anyway. The best one I saw was someone who was self employed who was sold a policy that specifically excluded the self employed. Edited October 29, 2016 by Mungler Quote Link to comment Share on other sites More sharing options...
Paddy Galore! Posted October 29, 2016 Report Share Posted October 29, 2016 The thing is that even people who asked for or wanted PPI have a claim because they were sold grossly over priced policies (which could have been obtained for a fraction of the cost on the open market) or the policies they asked for and were sold would have been ineffective and wouldn't have paid out anyway. The best one I saw was someone who was self employed who was sold a policy that specifically excluded the self employed. I got sold one of those. Quote Link to comment Share on other sites More sharing options...
Davyo Posted October 29, 2016 Report Share Posted October 29, 2016 (edited) It not about accepting payment prtection,its the manner it was sold.I all relates to how it was sold to you in the 1st place.For example at the time a lot of companies where using the excuse"it will get your morg/loan easier if you take out PPI".The truth behind it was the morg advisor or loan negotiator was on commision from the insurance companies so was mainly looking after his/her intrests. One of the biggest culprids were car salesmen followed by morg providers and following suit were pension advisors again lining their own pockets miss selling policies for their own gain.However if you willingly went looking for PP then thats another ball game. Edited October 29, 2016 by Davyo Quote Link to comment Share on other sites More sharing options...
digger Posted October 29, 2016 Report Share Posted October 29, 2016 I had it on a car loan. Never managed to track the companies name. Just did a quick google and the first company charges 30% plus vat. 50 % !! Quote Link to comment Share on other sites More sharing options...
vampire Posted October 29, 2016 Report Share Posted October 29, 2016 The thing is that even people who asked for or wanted PPI have a claim because they were sold grossly over priced policies (which could have been obtained for a fraction of the cost on the open market) or the policies they asked for and were sold would have been ineffective and wouldn't have paid out anyway. The best one I saw was someone who was self employed who was sold a policy that specifically excluded the self employed. That's what happened to me, we sent all paperwork, policy etc off to ombudsman who said we had no claim, still don't understand it as I paid for a policy that would never had paid out ! Quote Link to comment Share on other sites More sharing options...
junglebert Posted October 30, 2016 Report Share Posted October 30, 2016 I had it on a car loan. Never managed to track the companies name. Just did a quick google and the first company charges 30% plus vat. 50 % !! 30% + VAT isn't 50% Quote Link to comment Share on other sites More sharing options...
djrwood Posted October 30, 2016 Report Share Posted October 30, 2016 I had it on a car loan. Never managed to track the companies name. Just did a quick google and the first company charges 30% plus vat. 50 % !! You pay vat on the 30% so it's more like 36%. Still a large share for not a lot of work!! Quote Link to comment Share on other sites More sharing options...
bruno22rf Posted October 30, 2016 Report Share Posted October 30, 2016 (edited) Not sure about the being stupid and not reading the small print bit.....there's no mention of PPI in one of our loans from about 10 years ago but when the Manager of the branch tells you that you will NOT get the loan without protecting the repayments (HFC Bank) you have little choice. Luckily, as times became harder, we paid the loan off using a zero % card so we only paid for a couple of years but I'm kinda glad that we did fall for it at the time because the refund has been in the thousands and we claimed ourselves so no costs were incurred. BTW - if you really are sick of sales calls I think I have found the solution - look on the Bay for a BT8600 - you can get them new for under £30, after suffering from several calls a day for years I bought one 2 weeks ago and not a single sales call has come thru since so far - worth it's weight in gold. Edited October 30, 2016 by bruno22rf Quote Link to comment Share on other sites More sharing options...
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