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  • FIRST POST
    • Essendy
    • By Essendy 3rd Nov 17, 5:29 PM
    • 3Posts
    • 0Thanks
    Essendy
    Tesco ppi
    • #1
    • 3rd Nov 17, 5:29 PM
    Tesco ppi 3rd Nov 17 at 5:29 PM
    Five years ago Tesco turned down my claim for ppi. Today I received a letter from Tesco saying that I may receive money back if they took a high level of commission on my ppi policy but did not tell me. Has anyone else had this letter and actually receive any money?
Page 1
    • zx81
    • By zx81 3rd Nov 17, 5:51 PM
    • 14,049 Posts
    • 14,745 Thanks
    zx81
    • #2
    • 3rd Nov 17, 5:51 PM
    • #2
    • 3rd Nov 17, 5:51 PM
    Lots of people and yes, some.
    • Essendy
    • By Essendy 3rd Nov 17, 6:15 PM
    • 3 Posts
    • 0 Thanks
    Essendy
    • #3
    • 3rd Nov 17, 6:15 PM
    • #3
    • 3rd Nov 17, 6:15 PM
    How much are people recieving, £50 or is it a decent amount?
    • motivated
    • By motivated 3rd Nov 17, 6:18 PM
    • 2,273 Posts
    • 3,391 Thanks
    motivated
    • #4
    • 3rd Nov 17, 6:18 PM
    • #4
    • 3rd Nov 17, 6:18 PM
    Hi. I too received the same letter today but from Everyday Loans. We had a loan in 2010.

    It also says the same information telling me to complain again. Apparently the high court was involved too.
    I’ve done my complaint and will wait and see

    Good luck
    • societys child
    • By societys child 4th Nov 17, 11:32 AM
    • 4,801 Posts
    • 5,222 Thanks
    societys child
    • #5
    • 4th Nov 17, 11:32 AM
    • #5
    • 4th Nov 17, 11:32 AM
    How much are people recieving, £50 or is it a decent amount?
    Originally posted by Essendy
    What's wrong with £50?

    If someone received more than 50% commission when they sold you the insurance policy, the excess (over 50%) is refundable. eg. If they received 52% the refund would be 2%+ (8% simple interest)

    • Essendy
    • By Essendy 11th Nov 17, 2:58 AM
    • 3 Posts
    • 0 Thanks
    Essendy
    • #6
    • 11th Nov 17, 2:58 AM
    • #6
    • 11th Nov 17, 2:58 AM
    Was there many commissions over 50%?
    • societys child
    • By societys child 11th Nov 17, 9:22 AM
    • 4,801 Posts
    • 5,222 Thanks
    societys child
    • #7
    • 11th Nov 17, 9:22 AM
    • #7
    • 11th Nov 17, 9:22 AM
    Was there many commissions over 50%?
    Originally posted by Essendy
    No one's sure . . .

    Read this thread:
    http://forums.moneysavingexpert.com/showthread.php?t=5742295

    • Moneyineptitude
    • By Moneyineptitude 11th Nov 17, 10:35 AM
    • 18,712 Posts
    • 9,969 Thanks
    Moneyineptitude
    • #8
    • 11th Nov 17, 10:35 AM
    • #8
    • 11th Nov 17, 10:35 AM
    That's the answer to a very specific possible scenario, but will surely only serve to confuse the OP of this thread?
    • societys child
    • By societys child 11th Nov 17, 10:47 AM
    • 4,801 Posts
    • 5,222 Thanks
    societys child
    • #9
    • 11th Nov 17, 10:47 AM
    • #9
    • 11th Nov 17, 10:47 AM
    Have to admit, it confused me . . .

    The op hasn't said if they have replied to the letter, but that's probably the only way they'll get the answers they're looking for.

    • Moneyineptitude
    • By Moneyineptitude 11th Nov 17, 10:49 AM
    • 18,712 Posts
    • 9,969 Thanks
    Moneyineptitude
    The op hasn't said if they have replied to the letter, but that's probably the only way they'll get the answers they're looking for.
    Originally posted by societys child
    I think he just wants an answer now rather than in eight weeks or more...
    • dunstonh
    • By dunstonh 11th Nov 17, 12:17 PM
    • 89,520 Posts
    • 55,961 Thanks
    dunstonh
    Was there many commissions over 50%?
    Originally posted by Essendy
    Most loan PPI was. Most credit card PPI was borderline but profitshare takes it over. Most regular premium PPI (including MPPI) is way under the tipping point. However, profitshare (which affects lenders own product) may bring some over. Broker/estate agent/IFA etc versions will usually be well under the tipping point.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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