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Thread: PPI - Anyone claimed this

  1. #11
    Regular Member Ste's Avatar
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    To be absolutely honest, I find it strange that people sign up to things without understanding what they are actually signing up for.

    If people signed up for PPI, then that's it. How can someone come back, maybe years later, and say it was mis-sold? Do people not read what they are signing for?

    I have 2 simple thoughts on things like this:-

    1. If you don't understand what you are being asked to sign, then don't sign until you do.
    2. If you do sign, then you should take responsibility for what you are signing for - whether you understand it or not - but see rule no. one.

  2. #12
    Ex Vec-C Admin / Founder Duncan's Avatar
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    Quote Originally Posted by Ste View Post
    If people signed up for PPI, then that's it. How can someone come back, maybe years later, and say it was mis-sold? Do people not read what they are signing for?
    Quote Originally Posted by markmac21 View Post
    people i been talking to are saying they put it in without you knowing , how can they do that ?
    That's how people have been mis-sold PPI Ste and why there's been this whole big thing about it.

    Unscrupulous people, obviously on commission, have either added the PPI to a loan/credit card or whatever and not explained it properly, or even at all. People have (wrongly/deceptively) been told that PPI will cover them for this, that and the other so they agree to it but when they come to actually try and claim on it they find that they're not covered, hence the mis-selling.

    How many people actually read every piece of small print on a credit card/loan application? On any finance I've had as soon as they asked about PPI I just said No, not interested, mainly because it wouldn't even cover me being self-employed!

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    Regular Member shoota70's Avatar
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    ive had a few grand back from lloyds , mbna and virgin money over the last 3 months.. im now gonna try my bankloan as im sure it had ppi before i refinanced it and also im looking into car finance i took out as this had ppi and ive heard you can claim this back =) happy days

  4. #14
    Regular Member Ste's Avatar
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    Duncan,

    I think that is the point. If people sign for something without knowing what they are signing for, then how can they complain? If PPI has been added, then it's in the contract, and what is / is not covered is also in the paperwork.

    And yes, "anally retentive" me DOES read the things that I sign.

    I see what you are saying, but my Rule No. 1 covers it.




    AND, who is paying for this and some people inability to understand / read what they are signing for?
    Rhetorical answer - the institutions customers, either directly or indirectly. The Banks etc will NOT lose a single penny over this - they will just charge more for their services.......

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    I with you STE (unusually!) if you need PPI you can't afford what your getting, so set your sights a little lower!

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    Regular Member Big Knox's Avatar
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    got a cheque from Intelligent Finance last week for £800. All for the price of one letter, a form and a stamp for the envelope. Next thing I know the cheque just arrived no questions asked. Paid about £250 in PPI over a 14 month period before I cancelled it. Got that refunded plus £500+ interest on it well worth it.

    As said above, do it yourself, don't use a company. For more info see http://www.moneysavingexpert.com/rec...loan-insurance

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    Regular Member Big Knox's Avatar
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    Quote Originally Posted by Ste View Post
    Duncan,

    I think that is the point. If people sign for something without knowing what they are signing for, then how can they complain? If PPI has been added, then it's in the contract, and what is / is not covered is also in the paperwork.

    And yes, "anally retentive" me DOES read the things that I sign.

    I see what you are saying, but my Rule No. 1 covers it.




    AND, who is paying for this and some people inability to understand / read what they are signing for?
    Rhetorical answer - the institutions customers, either directly or indirectly. The Banks etc will NOT lose a single penny over this - they will just charge more for their services.......
    I think your assumptions cover some of the claims but not all. I think there were cases were a sale person pushed and sold PPI to someone knowing it'd be useless to them. Hence they are calling it mis-sold rather than mis-bought?

    Banks aren't exactly squeaky clean in their business practises, far from it in fact.

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    Regular Member Bigglesfliesundone's Avatar
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    This is the best form tio use, its done by the Financial Ombudsman Service (FOS):

    www.financial-ombudsman.org.uk/.../ppi/ppi-consumer-questionnaire.doc

    Print that off, fill it in, send it to who ever you are claiming against (take a photocopy in case you need to complain to FOS)

    Simples

  9. #19
    Regular Member Big Knox's Avatar
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    thats the form I sent with a cover letter, a few weeks later, cheque-ahoy

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    I bought a ford focus tdci maybe in 2005 and was sold (well given) PPI on the finance agreement and didnt realise until i checked a bank statement many months later and seen £10 a month going to a company i had never heard of. I done a bit of digging and phoned them up to ask why they were taking £10 a month from me and they must have heard this often and asked me if i had bought a car from arnold clark, i answered yes and she said oh you will have payment protection with us. So i told her that i knew nothing about this and cancelled it there and then.

    But now thinking about it i was signed up for it and didnt know a thing about it for months how many i cant really remember before i worked it out and cancelled it.

    Two problems i cant remember who the loan/finance was provided by!?! And for how long i was robbed of £10 a month!!??

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