Not really as its your money in the first place as well, so all you are doing is being to returned to where you should have been financially in the first place.
PPI Claims, any recommended companies?
- Thread starter Gibbo
- Start date
Not really as its your money in the first place as well, so all you are doing is being to returned to where you should have been financially in the first place.
or (as in gibbo's case) with 8% interest on top. where else would you get 8% interest? that's right, nowhere.
I am agreeing with the point made in the quoted post.
Dont come over like its some stroke of genius being performed, the dude was conned out of his money in the first place remember, its not as if it was excellent plan to generate 8% interest on an investment.
Where would have been with the 6k still in his pocket in the first place?
Deposit on a house?
Newer car?
Holiday in a 5 star hotel in canun for a month?
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i'm not. what you've said there, is still my stance on it, the 8% interest is not something i was aware of as a possibility and has swayed me.
as i said before, i'm jumping on the bandwagon myself by looking into if i'm owed anything. this is not opinion, this is about money i may be owed due to paying for something i didn't want or need and cash is king.
Soldato
Filled a few out. Couldn't put much detail in though. One for a past loan and other basically put my bank details in. Had past loans and credit cards on the account .
Soldato
Quick question, sorry in advance if it's been answered before in this thread but i know who my past finance has been with so i don't need any companies to chase the money for me but what i want to know is, what is the cut off point for claiming ppi? I've heard some say 10 and others say 15 years.
Soldato
I'd be intrigued to know how they calculated 8% as the correct amount of interest to pay those poor souls who were mis-sold PPI.
I'd like to think I know a bit about money (and without looking can guarantee you that my credit card does not have PPI on it), but other than playing the stock market (buy ARM + LLOY + BP is what I'd do for what it's worth) I can't think where you could have got 8% interest.
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yeh 8% is very attractive, though this can't be the case for all cases surely? unless it's a sort of 'sorry'?
Ok got a letter through this morning regarding PPI on the second loan I had with natwest.
I have recieved PPI payouts on my first loan I had with them and my 3rd loan I had with them.
With my first loan I was told I had to take insurance because it was my first loan so I took it.
With my third loan I had applied and failed a month before and was told if I took out insurance I would get the loan so I took it out.
With my second loan though I point blank refused the insurance and it states no where in my paper work about loan insurance (I still have my agreement) but they have sent me the letter today telling me that they were giving me a refund on the PPI for that loan. I phoned them up and the lady gave me a breakdown on the phone of all the charges I was paying on the loan (intrest ect) and I was paying £20 a month for insurance.
I never saw that because my internet banking only showed an ammount coming from my account each month and didnt have a break down of the charges.
I used to think that a lot of these people who have been claiming for PPi recently have been claiming it because everyone has been telling them they should but after finding out they added PPI to my loan without my knowlege then I can see where people are coming from
I have recieved PPI payouts on my first loan I had with them and my 3rd loan I had with them.
With my first loan I was told I had to take insurance because it was my first loan so I took it.
With my third loan I had applied and failed a month before and was told if I took out insurance I would get the loan so I took it out.
With my second loan though I point blank refused the insurance and it states no where in my paper work about loan insurance (I still have my agreement) but they have sent me the letter today telling me that they were giving me a refund on the PPI for that loan. I phoned them up and the lady gave me a breakdown on the phone of all the charges I was paying on the loan (intrest ect) and I was paying £20 a month for insurance.
I never saw that because my internet banking only showed an ammount coming from my account each month and didnt have a break down of the charges.
I used to think that a lot of these people who have been claiming for PPi recently have been claiming it because everyone has been telling them they should but after finding out they added PPI to my loan without my knowlege then I can see where people are coming from
Associate
I filled in the form on the ombudsman's website a few week back and sent it off to HSBC. I wasn't expecting much as I have only ever had one small loan which I increased and then paid off early. Just got my complaint upheld and offered ~£2400 
Never did I expect to get offered that much. Time to top up my ISA.
I got 8%
Never did I expect to get offered that much. Time to top up my ISA.I got 8%
Soldato
I have a PPI problem. I genuinely and distinctly remember being told by our financial adviser that we used through an Estate Agent that Abbey National said in order to have my first ever mortgage on the pathetic salary I was on I had to have mortgage protection. BUT they also said it can either be with them or a third party as long as we provided proof, I went with a 3rd party as it was better value.
So here is the kicker, just spoken to Santander (who now own Abbey) and they said (quite rudely) "No PPI showing up so not our problem". I thought the mortgage protection was with L&G but they saying they can't see anything from 2003 for me. My wife and I destroyed all our old documents as it was all finished and done with.
Even when I find out who the third party insurer was the problem is I knew what I was taking with them because I was told I required it by the bank.
I am not sure on the next step should be or if there is a good/useful and fair third party I can talk to for advice.
So here is the kicker, just spoken to Santander (who now own Abbey) and they said (quite rudely) "No PPI showing up so not our problem". I thought the mortgage protection was with L&G but they saying they can't see anything from 2003 for me. My wife and I destroyed all our old documents as it was all finished and done with.
Even when I find out who the third party insurer was the problem is I knew what I was taking with them because I was told I required it by the bank.
I am not sure on the next step should be or if there is a good/useful and fair third party I can talk to for advice.
i just phoned Barclays about a £2.5k loan i took out in sept 2002 (i was self employed and was told i needed the PPI at the time), the chap took my acc details and said he cant see a reason why i wouldnt be refunded and that someone will be intouch to confirm a few details with me in ~6 weeks time, the PPI was ~£800 iirc and was payed off over 2 years along side the cash i borrowed so it would have had interest added, hopefully they will find all the details and refund me... fingers crossed 
thanks for this thread.. it gave me the push to do something about it
thanks for this thread.. it gave me the push to do something about it
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Man of Honour
Sorry if I'm blind, but egg website still seems to be in operation, however my login details from yore don't seem to work anymore - my account was taken over by barclaycard. PPI was only with Egg.
Should I SAR letter both companies, or just Egg? Or just barclaycard? Or just the financial ombudsman thing (probably not that as I don't have any details to hand yet)
Anyone any ideas?
Should I SAR letter both companies, or just Egg? Or just barclaycard? Or just the financial ombudsman thing (probably not that as I don't have any details to hand yet)
Anyone any ideas?
i just phoned Barclays about a £2.5k loan i took out in sept 2002 (i was self employed and was told i needed the PPI at the time), the chap took my acc details and said he cant see a reason why i wouldnt be refunded and that someone will be intouch to confirm a few details with me in ~6 weeks time, the PPI was ~£800 iirc and was payed off over 2 years along side the cash i borrowed so it would have had interest added, hopefully they will find all the details and refund me... fingers crossed
thanks for this thread.. it gave me the push to do something about it
ohh myy gawwwd
just checked my bank balance... £1,800 was paid in 3 days ago as a PPI + interest refund
once again... thanks for this thread <3
Statutory (8%) interest is simple interest, whereas the other products you are no doubt comparing it to are compound interest. There also has to be an aspect of opportunity cost involved.
I really need to push my parents to do this. They were genuinely mis-sold it and will have thousands outstanding!ohh myy gawwwd
just checked my bank balance... £1,800 was paid in 3 days ago as a PPI + interest refund
once again... thanks for this thread <3
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Associate
- Joined
- 6 Nov 2011
- Posts
- 481
Got close to 2k a few weeks ago from Halifax.
Also realised last year that I was paying phone insurance since 2005 which I did investigate due to be useless with money. Cancelled it in November last year and broached the subject of a good will gesture style refund as they admitted it was unusual to have a policy that long. Didn't really have a leg to stand on as it was my fault so did nothing for me.
Cue two weeks ago the company is calling me several times whilst at work so I didn't take the calls. Eventually called them back and a fella asked me a load of questions about the insurance etc. I explained I was a donut for not keeping on top of my accounts and after a few more questions he informed me he was refunding me all the insurance payments and 8% which amounted to 660 quid.
Now if the companies are willing to throw money is it effectively hush money? What happens if you take legal action how much would you stand to get. It just seems that the banks know if they chuck some money your way you will go away. What are they afraid of?
Anyways I splurged 450 on upgrades on this website and shoved the rest into my ISA.......
Also realised last year that I was paying phone insurance since 2005 which I did investigate due to be useless with money. Cancelled it in November last year and broached the subject of a good will gesture style refund as they admitted it was unusual to have a policy that long. Didn't really have a leg to stand on as it was my fault so did nothing for me.
Cue two weeks ago the company is calling me several times whilst at work so I didn't take the calls. Eventually called them back and a fella asked me a load of questions about the insurance etc. I explained I was a donut for not keeping on top of my accounts and after a few more questions he informed me he was refunding me all the insurance payments and 8% which amounted to 660 quid.
Now if the companies are willing to throw money is it effectively hush money? What happens if you take legal action how much would you stand to get. It just seems that the banks know if they chuck some money your way you will go away. What are they afraid of?
Anyways I splurged 450 on upgrades on this website and shoved the rest into my ISA.......
I am currently using a PPI company due to the reasons above, so far i've had just had over £4400 back - well minus the companies fee of 25% + vat. From the dealings ive had so far i would say its very simple to diy it. The forms i filled in are available on the internet. Ive ran into a few problems i.e. i have been unable to answer security questions for one of the credit card providers as it was over 5yrs ago since i closed it.
I would have never attempted to claim the PPI back due to having no paperwork etc as i thought it would be too complicated. In reality its not and it certainly isn't worth paying 25% to a company to do it for you.
My advice would be do it your self - it is however money i would have never claimed back so i guess its all a bonus but i would rather have it all
