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Signed credit agreement
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PPI WAS very often mis-sold, if it hadn't been, the FOS and the courts wouldn't be ordering banks to pay back billions, would they?Why, simple fact PPI which isn't missold is designed to cover losing your job, or becoming ill.
The ins and outs of PPI would fill a whole server rack, suffice to say even when it does pay out, it only pays for 12 months. That wouldn't have been any help to spudding on post 75 who's been ill for 10 years, would it?
...or to many of us whose circumstances changes in the years since we took out cards with compulsory, useless PPI!0 -
It wasn't compulsory, thats the point, and the reason they are being dragged over the coals. You just fell for the waffle from someone desperate for a bonus at work enough to lie to you.we took out cards with compulsory, useless PPI!
The fact that there was a box to tick sugests there is a choice involved. Same as agreeing to T&C's, read them and only sign if you agree to be bound by it's terms (a whole new can or worms right there).0 -
PPI WAS very often mis-sold, if it hadn't been, the FOS and the courts wouldn't be ordering banks to pay back billions, would they?
The ins and outs of PPI would fill a whole server rack, suffice to say even when it does pay out, it only pays for 12 months. That wouldn't have been any help to spudding on post 75 who's been ill for 10 years, would it?
...or to many of us whose circumstances changes in the years since we took out cards with compulsory, useless PPI!
And did you see the statistics for complaints upheld by the FOS it's only 68% http://www.bbc.co.uk/news/business-165755220 -
It wasn't compulsory, thats the point, and the reason they are being dragged over the coals. You just fell for the waffle from someone desperate for a bonus at work enough to lie to you.
Exactly, and these people represented major financial institutions and the pressure applied to employees to sell these products by those instututions is exactly what caused the whole problem. They lied and mis-sold worthless policies.The fact that there was a box to tick sugests there is a choice involved. Same as agreeing to T&C's, read them and only sign if you agree to be bound by it's terms (a whole new can or worms right there).
Not the case at all. Lloyds for example would regularly pull in customers for 'a financial review' with an 'advisor'. They up your loans, cards, overdraft, tell you that you must have ppi. Then they fill in the forms on their computer and print out a document for you to sign which already has all those boxes ticked!
I've never ticked anything, Lloyds did it all for you
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It wasn't compulsory, thats the point, and the reason they are being dragged over the coals. You just fell for the waffle from someone desperate for a bonus at work enough to lie to you.
The fact that there was a box to tick sugests there is a choice involved. Same as agreeing to T&C's, read them and only sign if you agree to be bound by it's terms (a whole new can or worms right there).
Your post contradicts itself!! It wasnt compulsory, but banks are being dragged over the coals for telling you this.
Fell for the waffle?? - you mean we shouldnt actually trust the banks? -like we did in the "old days"
MBNA used to have massive targets for selling PPI - and if you failed, maybe because you had "savvy" customers, you were out of a jobNo Longer works for MBNA as of August 2010 - redundancy money will be nice though.
Proud to be a Friend of Niddy.
no idea what my nerdnumber is - i am now officially nerd 229, no idea on my debt free date0 -
Why, simple fact PPI which isn't missold is designed to cover losing your job, or becoming ill.
Yes it is. The important word being mis-sold.And did you see the statistics for complaints upheld by the FOS it's only 68%
You will always find a few ambulance chasers trying to claim back anything they possibly can. That statistics shows that 68% of people who complained to the FOS were mis-sold useless policies, obviously that depends on the guy that played with the numbers
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I haven't contradicted anything.Your post contradicts itself!! It wasnt compulsory, but banks are being dragged over the coals for telling you this.
Fell for the waffle?? - you mean we shouldnt actually trust the banks? -like we did in the "old days"
I've experienced the same sales push on many occasions (you must have it to be accepted).
In my mind,my job was secure so I simply said, "I have no need for it so I do not want it".
I have never been rejected for credit as a result.
You have tunnel vision, you view the whole PPI product as mis-sold when in fact it wasn't.
A pushy salesman/woman flogged you any old product which would give him/her the largest bonus and you fell for it.
Nothing wrong with PPI, as long as it meets your requirements and is fit for purpose (which you have to read up on and not make that on-the-spot decision about so you get your credit that same day).
When I buy shoes I also reject that "All important, must have, essential" leather softener the girl tries to flog me.0
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