Can there be anyone left

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Gibbo2286
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Can there be anyone left

Post by Gibbo2286 »

who hasn't checked their poxy PPI?

MikeT
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Re: Can there be anyone left

Post by MikeT »

I'm still trying to find the loans they told me I'd taken out!

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GiveMeABreak
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Re: Can there be anyone left

Post by GiveMeABreak »

I take it you are fed up to the teeth of those PPI ads then Gibbo? :-D

I would have every one of those claims companies up for torture under the mental health act and then lock every one of the advertising executives who came up with the annoying ads in room 101 with all their adverts and jingles continuously looping at full blast. That would be very satisfying. :twisted:

Hell Razor5543
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Re: Can there be anyone left

Post by Hell Razor5543 »

I did have PPI (although I had not ticked the box), and when I contacted the credit card company they owned up, repaid the full amount, and added 8% interest onto that. I did not go via any claims company, as I knew they would then hit me with fees if they were successful (oh, and the amount paid was greater than the amount said companies say you could be entitled to!).

However, when I took out a bank loan they asked if I wanted PPI. After they explained it to me I said yes. It was just as well I did, as six weeks later I was informed I was being made redundant!

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EDC5
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Re: Can there be anyone left

Post by EDC5 »

A couple of years ago I had a summer job within the PPI department of a bank. It was quite good giving people their money back.

One thing annoyed me was that if the people claimed through a 3rd party firm, then their payments could be capped by the 3rd party. I think Gladstone brooks kept anything over £7k for themselves... in some cases that could be tens of thousands!

Also what I found strange was that you could still claim your PPI refund even if you had successfully claimed against the policy.... which I thought was a bit cheeky.

Hell Razor5543
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Re: Can there be anyone left

Post by Hell Razor5543 »

EDC5 wrote:
14 May 2018, 14:07
Also what I found strange was that you could still claim your PPI refund even if you had successfully claimed against the policy.... which I thought was a bit cheeky.

I did not know that either! However, as I only had two payments take out of my account before I was made redundant I would consider that the bank was already out of pocket enough!

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Pug_XUD_KeenAmateur
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Re: Can there be anyone left

Post by Pug_XUD_KeenAmateur »

I find this whole PPI thing a bit ridiculous and as much as one doesn't shed a tear for the Banks; the option to tick / untick the box for PPI when taking out a loan was always there.... I did, many moons ago; surely if others didn't, that's not really the Banks' fault.

We've noted that the more of Junk Callers' time you waste, the less calls you seem to get. One has to be 'in the mood' and at a convenient time for keeping them on the line with increasingly silly information, but it does seem to help.

Did have to laugh recently: SWMBO took a Junk Call offering a service to 'Screen / Avoid' Junk Callers. Apparently the lass on the end of the line was a bit taken aback when the irony of this was spelt out to her.

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Re: Can there be anyone left

Post by Gibbo2286 »

Pug_XUD_KeenAmateur wrote:
14 May 2018, 14:35
I find this whole PPI thing a bit ridiculous and as much as one doesn't shed a tear for the Banks; the option to tick / untick the box for PPI when taking out a loan was always there.... I did, many moons ago; surely if others didn't, that's not really the Banks' fault.

We've noted that the more of Junk Callers' time you waste, the less calls you seem to get. One has to be 'in the mood' and at a convenient time for keeping them on the line with increasingly silly information, but it does seem to help.

Did have to laugh recently: SWMBO took a Junk Call offering a service to 'Screen / Avoid' Junk Callers. Apparently the lass on the end of the line was a bit taken aback when the irony of this was spelt out to her.



The reason the banks are in all this grief is because they got their salesmen to persuade/bully borrowers to take the PPI out even when it couldn't apply to them, self employed and the like.

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EDC5
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Re: Can there be anyone left

Post by EDC5 »

Gibbo2286 wrote:
14 May 2018, 17:10
Pug_XUD_KeenAmateur wrote:
14 May 2018, 14:35
I find this whole PPI thing a bit ridiculous and as much as one doesn't shed a tear for the Banks; the option to tick / untick the box for PPI when taking out a loan was always there.... I did, many moons ago; surely if others didn't, that's not really the Banks' fault.

We've noted that the more of Junk Callers' time you waste, the less calls you seem to get. One has to be 'in the mood' and at a convenient time for keeping them on the line with increasingly silly information, but it does seem to help.

Did have to laugh recently: SWMBO took a Junk Call offering a service to 'Screen / Avoid' Junk Callers. Apparently the lass on the end of the line was a bit taken aback when the irony of this was spelt out to her.



The reason the banks are in all this grief is because they got their salesmen to persuade/bully borrowers to take the PPI out even when it couldn't apply to them, self employed and the like.



This is true, I had to find the original sales calls in some cases and listening to them back it was sometimes easy to see why it was mis-sold.
In other cases though, people gladly agreed only to apply a few years later claiming to have had no clue of what PPI was.

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GiveMeABreak
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Re: Can there be anyone left

Post by GiveMeABreak »

Agree it is all about the way it is sold and the suitability for the individual - but here's another angle:

Many moons ago I partly financed a car via franchised dealership and had the PPI - most things were just sold with it in those days. Years later, when all this PPI misselling came about, and the emergence of the lecherous claims companies, a work colleague said she had taken loads of loans out and as her husband was self-employed, she was getting all the PPI payments and some compensation back and had already had 2 claims resolved.

So she gave me a standard form and said why don't you send it off. So I found ny original Citroen finance agreement and sent it off - to no avail - as during the passing years the franchise had gone into liquidation and no longer existed - case closed.

I never thought anything more about it - another 8 years pass and suddenly, out of the blue, I get a letter from PSA Finance stating, amongst other things:
As you may be aware, the FCA has decided that compensation will be due if more than 50% commission was paid as part of a customer’s premiums. In your case the commission paid as part of your premiums was over this threshold.
So there must be something else apart from the PPI misselling, new FCA rules are now covering commission elements too.

So a nice little earner through the post - and if anyone else ever had anything via PSA - check their website out - they already had all the details and I didn't have to do anything apart from confirm name and address etc.

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Re: Can there be anyone left

Post by Gibbo2286 »

That would be for the selling of finance, finance houses used to pay commission to dealers for introducing customers and often the payments depended on how high a rate the dealer could load onto the terms, some dealers made no profit on the car price but loaded the finance charges instead.

That way they could look to be very competitive on price when marketing their cars (and other goodies) whilst picking your pocket.

Customers were rarely interested in anything more than how much a month the payments were.