PPI: Anyone had a good experience of this

[Dark Knight]

I am sure that I,like most people ,am getting bombarded with calls, e mails and texts regarding PPI claims
I cannot remember having taken out PPI in the past, but I may have
has anyone got anything good to say about recovering previously paid PPI and is it worth looking into even if I can't remeber having it?

comments please

[haveabeer]

Hi DK
Yes recently like you i had numerous texts and call say i was owed PPi refund i kept ignoring it then i had a call from a company and a very nice young lady said my name was on the list of people owed money.
i said like all the others no i am not please leave me alone.
after a few days i got to thinking maybe i am owed money so i rang our bank who we had a mortgage with and was told yes you are due a refund i said to her that i never asked for PPI when we took the mortgage out
After a few weeks a refund of £2800 pound arrived
Dont use these companies they take anything up to 40% of the claim just ring up your mortgage or loan company and ask them its easy and dont cost anything

[Silver_Shiney]

The other scam that was going the rounds was supposedly getting your debts written off. My SIL took a call at work a while back from one of these cowboys. He could hear them rubbing their hands in glee when he said that, yes, there was a huge debt problem. "How much, sir?" "£23 billion" "Come, sir, be serious, how much is your debt?" "£23 billion. This is the [name of bank]. Hello? Hello?"

[Capt Black]

Last year a chap I know at work got a PPI payout of about 20k.

On the back of his success story we went through some paperwork relating to an mortgage from over 10 years ago. Luckily we had kept the insurance certificate and some a few other connected papers.

I had a read of the advice on the moneysavingexpert, and boy was it enlightening. I downloaded a form on-line, used some words of wisdom from moneysavingexpert, which accurately reflected the situation.

About a month later we got a letter with a cheque for £3,000.

All in all it probably took us about 2 hours to find the documents, read the advice on the internet and form me fill the form out.

Have a read, and go for it!

[Silver_Shiney]

wasn't there a deadline for such claims?

[Gill W]

Last year a chap I know at work got a PPI payout of about 20k.

On the back of his success story we went through some paperwork relating to an mortgage from over 10 years ago. Luckily we had kept the insurance certificate and some a few other connected papers.

I had a read of the advice on the moneysavingexpert, and boy was it enlightening. I downloaded a form on-line, used some words of wisdom from moneysavingexpert, which accurately reflected the situation.

About a month later we got a letter with a cheque for £3,000.

All in all it probably took us about 2 hours to find the documents, read the advice on the internet and form me fill the form out.

Have a read, and go for it!

A lot of the stuff on Money saving expert I find quite annoying.

It seems to be full of people who try and remember any financial transaction over the last 30 years, but they can't say exactly what type of transaction it was, and if asked they can't explain why they think it was mis-sold, but they put in spurious claims anyway.

[haveabeer]

GillW
I sold PPI and I would estimate 70% of customers where not aware of the insurance employes where told to not mention it and should you not reach a PPI target they gave you then you lost all the commission from PPI you had sold.
So some might jump on the band wagon but I believe like mine genuinely most claims are justified
What has just come to light for us is my wife 10 years ago took out a bank loan she was self employed and wanted to invest into her business all approved and paid up we have just found out that they had applied PPI to the loan firstly we did not know secondly she not eligible to have PPI as she was self employed
It's a big earner that's why pressure was put on staff to sell it

[Gill W]

Haveabeer,

I've spent my whole working life in the financial sector, so I know there was a big problem with customers being pressured to take products that they didn't need or weren't suitable for them

Fortunately, I wasn't in a sales environment, so I wasn't directly involved.

But what gets me down is the attitude on money saving expert, that EVERYTHING was mis-sold, even when it wasn't

[haveabeer]

Don't think I have ever seen it so can't comment on it
These insurance claims will go on for years credit cards will be the next thing