Phone calls from PPI reclaim companies

[Deleted User]

dunstonh wrote: »

They are attempting to get back what they agreed to pay.

Yeah and they "agreed" to pay this, why?

timmybear

Moneyineptitude wrote: »

Yeah and they "agreed" to pay this, why?

Presumably because the borrower was a consenting adult, deemed capable of wiping their own back-side and dealing with their own finances.

Under my kitchen sink is a leather-care kit I bought 12 years ago when I purchased 2 leather armchairs from a well-known store. The finance is long paid off and the chairs have since been replaced, but I can't help but wonder if this cleaning kit the salesman offered me and which i CHOSE to buy at the point of sale may one day fall into the category of 'miss sold' products. And having read a post on this forum from someone who had successfully CLAIMED on his/her PPI and now wants to cancel the policy makes me wonder if the fact that I've used 2/3 of the leather-care solution would not go against me either.

The point is this: no one wants to take responsibility for themselves and their actions any more. That is what it boils down to.

I suppose I was lucky. I had a good teacher. My parents were scared of debt would never enter into it for anything apart from their car loan and their mortgage. My parents CHOSE to have three kids and my mother CHOSE not to work. Money was tight and we only had the necessities. That was the result of my parents choices. I learnt what it was like to be almost completely debt-free and how miserable life could be with no luxuries.

However, my father’s mother was a different kettle of fish. Debt didn't frighten her, but she was on the ball when it came to money. She taught me how to carefully stretch oneself if needs must, but not to go OTT. Back in 1990 when I was 12 years old, l remember vividly getting the bus with my grandparents to the electricity board showroom...nanny explained to me that she had been paying a little bit extra on her bill each month to pay for her new vacuum cleaner and now, almost 6 months later, she had to pay the balance off or be charged interest for the privilege of having the cleaner on finance terms.

And as was always the case, she would pay her bill at the counter, then go looking around the store as what she could buy 'next', once she'd paid off what she had already borrowed.

She also had a Kays catalogue account for as many years as I knew her. She told me all about how the payments and returns worked, how she earned commission on her orders, and why things were more expensive to begin with.

Sadly, I feel this sort of teaching has been lost over the years, along with the need to feel accountable for one’s own actions. I read a message on here from a person who was saying how difficult it is to meet the payment deadlines for finance agreements when their benefits are not all paid on the same day. I read messages from people who can't recall when they took a loan or who it was with, but can remember being 'miss-sold' PPI as though it happened at five-past-ten this morning. The best I have read so far is a comment from someone who claims to have been told they are due a PPI repayment and is now passing house bricks because the money has yet to arrive and they’ve already spent it on the deposit for a new car. If that does not sum-up people’s attitudes and why things are in the state they are in, then nothing else will.

And then of course we move onto the 'pressure', 'bullying' tactics of the sales advisors. Maybe I got lucky in that i have never ever felt under such intimidation on the countless times I've arranged loans and finance for myself from banks, shops, and in-store representatives. I have friends in my life; people who want me to do business and make money from me are NOT my friends, so why would I trust them? I don’t. I treat them with the good manners I would use to any member of society, and then make my own decisions.

These PPI claims are going to bring some lenders to their knees. I am seriously worried what all these refunds will do to the long-term state of the economy.