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01-11-2018, 03:16 PM
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PPIs

Have you successfully claimed back PPI from a company...?

Payment protection insurance (PPI) is the insurance sold alongside credit cards, loans and other finance agreements to insure payments are made if the borrower is unable to make them due to sickness or unemployment.
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01-11-2018, 03:55 PM
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Re: PPIs

My wife got herself into heavy financial debt made worse by the financial industries willingness to add to the debt by offering more credit cards ETC. it cost me my savings and the house but there you go. This was 10 years ago.

We then claimed back PPI on all these cards and loans and received over £65,000 pounds back which made things a lot easier as I am in my 60's and she 70's.

Now you would think that she would not get offered any credit card yet I discovered after her untimely death last august that Debenhams must have persuaded her to take out a credit card and as a reward gave her 10% discount on whatever it was she bought. I only found out as the card arrived after her death and I called them up and asked how it was possible that a person with her credit history would be granted a card and why on earth was a 74 year old woman offered it in the first place. They were apologetic and wrote of the £66 she owed.

At the moment the financial ombudsman is investigating how credit was still being offered when it was obvious that she was in severe financial difficulty.
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01-11-2018, 04:33 PM
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Re: PPIs

Yes we have, we are still in process of trying to get some back from the halifax who decided they had no idea who we are despite us having our mortgage with them for nearly 30 years. Funny they tool the payments but can't find our account information. Ombudsman is helping us at the moment.

The amounts we've got back vary, I guess more you borrowed the more they owe you because generally we've got a few hundred back from each lender.
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01-11-2018, 05:45 PM
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Re: PPIs

Originally Posted by MrFraggle ->
My wife got herself into heavy financial debt made worse by the financial industries willingness to add to the debt by offering more credit cards ETC. it cost me my savings and the house but there you go. This was 10 years ago.

We then claimed back PPI on all these cards and loans and received over £65,000 pounds back which made things a lot easier as I am in my 60's and she 70's.

Now you would think that she would not get offered any credit card yet I discovered after her untimely death last august that Debenhams must have persuaded her to take out a credit card and as a reward gave her 10% discount on whatever it was she bought. I only found out as the card arrived after her death and I called them up and asked how it was possible that a person with her credit history would be granted a card and why on earth was a 74 year old woman offered it in the first place. They were apologetic and wrote of the £66 she owed.

At the moment the financial ombudsman is investigating how credit was still being offered when it was obvious that she was in severe financial difficulty.
Sorry to hear of your wifes heavy debts MrFraggle, tough times!
I hope you get some joy from the Ombudsman. Good luck.!
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01-11-2018, 05:49 PM
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Re: PPIs

Originally Posted by Julie1962 ->
Yes we have, we are still in process of trying to get some back from the halifax who decided they had no idea who we are despite us having our mortgage with them for nearly 30 years. Funny they tool the payments but can't find our account information. Ombudsman is helping us at the moment.

The amounts we've got back vary, I guess more you borrowed the more they owe you because generally we've got a few hundred back from each lender.
Thats good to hear Julie, I claimed PPI back using the help of the Martin Lewis website,I filled out a pre written form online and it was sent automatically and stated also about involving the ombudsman if any claim should be unsuccessful...I was amazed to recieve a cheque in the post as I really didnt think I would have any to claim back.
It was easy and quick to do and I didnt even need all of the information on the form either (which I didnt have as it was going back a while)
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Shelfordian
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24-03-2019, 11:18 AM
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Re: PPIs

I remember in the 1990s everyone was trying to push this insurance onto us. But every time they did I had a look at the policy being offered, and the "protection" it offered was always illusory - it didn't start paying out for 6 months, and typically only paid for a year to 18 months.

So I always said "thanks but no thanks".

The latest product these financial snake oil salesmen seem to be touting is "GAP" (or Guaranteed Asset Protection) insurance ... which seems to be about insuring the difference between the write-off value of a car and the amount which will still be owing on the finance deal to buy it if you couldn't afford to buy it when you did. They tried to persuade me to buy such a policy the last time I bought a car even though I was a cash purchaser. Again, I said thanks but no thanks.
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24-03-2019, 11:26 AM
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Re: PPIs

have you tried paying a large sum of money for an item in full by Cash/cheque?

We did when we bought the Nissan car and they refused payment until it was a bank cheque.

This is how bad it has become, paying in pound notes or cheques are looked at as fraud or at least dodgy
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Shelfordian
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24-03-2019, 11:38 AM
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Re: PPIs

Actually, Realspeed, I'm not sure it IS such a modern phenomenon.

In 1907 my great great grandfather burgled my great grandfather's house, where my great great grandmother was living (my great great grandparents were estranged). He stole her savings (£7.10s in gold) and then went and spent it on a gold pocket watch and fob, a silver-topped cane and a new suit of clothes.

He evidently visited the jeweller before the draper (which may also be inferred from the fact that the burglary took place in Ross Street, Cambridge and the jeweller was on Mill Road in Cambridge), and the jeweller's suspicions were raised (presumably by his shabby appearance) such that the jeweller asked how he had come by the money.

He said he had had a good day betting on the horses at Newmarket ...

(Such a classy family I come from!)
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24-03-2019, 03:11 PM
9

Re: PPIs

Iím assuming the car dealer tried to flog you gap insurance, they are on commission, you donít have to buy from them, you can shop around for cheaper quotes..
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24-03-2019, 04:32 PM
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Re: PPIs

An old bumped thread (by the sadly departed Aysa, incidentally) but interesting reading from Shefordian.

I was successful a couple of years ago when my bank had to pay out quite a few thousand in PPI to me which I was rather pleased about. Needless to say I blew it all.
I have a couple more in the pipeline but they are taking ages to get sorted out. Anything back is a bonus though!
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