should I?

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roachw
roachw Posts: 2 Newbie
in Reclaim PPI & other insurance
Hi, I would like to know if attempting to reclaim PPI & bank charges would be a worthwhile exercise. I am 50 yrs old and have pretty much always had a mortgage and one car loan or another running. I've also had a credit card for the last 15 years. However, I don't think I've ever knowingly set up payment protection. It strikes me as a big task to try and figure out any PPI issues and I'm thinking it could just be a gigantic waste of time where all I actually achieve is passing my details on to all sorts of dodgy debt companies. Please help me :-)

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  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    If you didn't have PPI, it would be a waste of time to complain about how you were mis sold it.

    Though I'm not sure why you would involve debt collection agencies in the process.
  • societys_child
    societys_child Posts: 7,110 Forumite
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    No need to get involved with any "dodgy" companies.

    PPI on a credit card it is itemised separately on every monthly statement where any charge occured.

    Anything else, simply phone the lender(s) and ask.

    To have a hope of claiming back any bank charges, requires you to be in current financial hardship, even then they don't have to refund anything, but they may offer help in other ways.
  • roachw
    roachw Posts: 2 Newbie
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    ok thanks Zx, my thinking was that maybe PPI was just applied without me knowing, that's what I've heard anyway.
    thanks for response tho :-)
  • joanne95
    joanne95 Posts: 497 Forumite
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    I've just had PPI refunded that I never knew I had. I filled out an enquiry for Lloyds Bank and after a quick telephone call where I told hem that as far as I was concerned I had never taken out PPI, I received a refund, so it must have been applied without me knowing.
    :AThanks to all those who post comps:A
  • dunstonh
    dunstonh Posts: 116,379 Forumite
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    joanne95 wrote: »
    I've just had PPI refunded that I never knew I had. I filled out an enquiry for Lloyds Bank and after a quick telephone call where I told hem that as far as I was concerned I had never taken out PPI, I received a refund, so it must have been applied without me knowing.

    Or you dont read your statements and sign up to things without reading them. Lloyds, for all their faults, do not hide the PPI.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • joanne95
    joanne95 Posts: 497 Forumite
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    dunstonh wrote: »
    Or you dont read your statements and sign up to things without reading them. Lloyds, for all their faults, do not hide the PPI.

    My point was, it's worth enquiring. I was 19 when I took out that loan, and no, I probably didn't have any idea what I was signing up to. I am a lot more careful about my finances now.
    :AThanks to all those who post comps:A
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