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MSE News: 'I got £82,000 PPI back'

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This is the discussion thread for the following MSE News Story:

"A man from Essex has received the biggest PPI payout we've ever seen, after a 16-month battle with Barclaycard..."
Read the full story:
'I got £82,000 PPI back'


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Comments

  • dilus
    dilus Posts: 1,046 Forumite
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    Great payout but £25,000 to a claims company, just for sending a letter :mad:
    Well done to Phil, great story :T
    Successes
    Sainsbury's/BOS £6,400 Paid :)
    MBNA £3,600 Paid :)
  • I_luv_cats
    I_luv_cats Posts: 14,441 Forumite
    First Anniversary Name Dropper First Post
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    dilus wrote: »
    Great payout but £25,000 to a claims company, just for sending a letter :mad:
    Well done to Phil, great story :T

    Good on him

    That's why I am getting constant emails n texts and spot these ads on the tv / in newspapers from these leeches. Why did the MOJ give out so many licenses to these leeches??
  • Credit-Crunched
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    Fool me once....
  • twirlydoughnut
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    wow thats brilliant pay out, well done that man! Boooo to the Claims firm, they charge stupid amount of money, so glad I been doing mine myself!
  • piccybabes
    piccybabes Posts: 110 Forumite
    Holiday Haggler
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    How can somebody rack up £82k in PPI?

    Between two cards that's £41k each over 28 years - that's £1464 per year so that equals £122 per month on both cards.

    That can't be right - surely he would have seen that on his statement each month?
  • andypandy1
    andypandy1 Posts: 170 Forumite
    I've been Money Tipped! Newshound!
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    I fail to understand how anybody can pay out such a large sum of money and not ask the appropriate questions. Surely this man needs to accept some of the responsibility.
  • dilus
    dilus Posts: 1,046 Forumite
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    piccybabes wrote: »
    How can somebody rack up £82k in PPI?

    Between two cards that's £41k each over 28 years - that's £1464 per year so that equals £122 per month on both cards.

    That can't be right - surely he would have seen that on his statement each month?

    Nothing surprises me with credit card PPI. If he was in the habit of paying off the balance religiously every month the 8% standard interest would ramp up BIG time and could far outweigh the PPI redress. Over 28 years it would be a huge amount, which it obviously was. It has turned out to be the best savings account imaginable :cool:
    Successes
    Sainsbury's/BOS £6,400 Paid :)
    MBNA £3,600 Paid :)
  • timmybear
    timmybear Posts: 122 Forumite
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    andypandy1 wrote: »
    I fail to understand how anybody can pay out such a large sum of money and not ask the appropriate questions. Surely this man needs to accept some of the responsibility.

    If the story is true, I can only agree with you.:T
  • timmybear
    timmybear Posts: 122 Forumite
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    And IMO 'we' Barclaycard customers will now pick up the tab for the £82000 they gave him back.

    I know that banks et al have put 'money aside' for such claims, but I will always believe that the money will be syphoned from the rest of their customer base one way or another.
  • I_luv_cats
    I_luv_cats Posts: 14,441 Forumite
    First Anniversary Name Dropper First Post
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    timmybear wrote: »
    And IMO 'we' Barclaycard customers will now pick up the tab for the £82000 they gave him back.

    I know that banks et al have put 'money aside' for such claims, but I will always believe that the money will be syphoned from the rest of their customer base one way or another.

    NO, you won't as they will be taking it out of the bankers bonuses pot. zzzzzzz That was a nice dream!!!!!
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