PPI miss-selling

27col

Just as a matter of interest, was all PPI missold or was some of it not missold. At the moment everyone seems to be trying to get their feet in the trough. What are the proportions of successful PPI claims.

opinions4u

It wasn't all mis-sold. It was often expensive.

But the banks have rolled over and died on it and the floodgates have opened. Successful claims top 90% where a policy existed.

The big problem faced by the banks now is the claims companies. 50% of their claim submissions never had a PPI policy in the first place. This slows down the process for everybody else.

Spiggie

Can anyone help please ? Had a policy with Lombard Finance had with great difficulty refused a PPI since I didn't need it but was co-erced into taking a Critical Illness Policy under great pressure. Lombard has knocked back my claim but I do believe I was mis-sold a financial product. Can I still claim or are Lombard just refusing in the hope that I will go away ?

[Deleted User]

i took out ppi on a mortgage and it paid out a few years later for 12 months,we more than got our moneys worth
personally i dont believe all these people who say they were mis-sold,surely there arent that many idiots?

magpiecottage

opinions4u wrote: »

It wasn't all mis-sold. It was often expensive.

Which does not, in itself, constitute a missale.

Spiggie wrote: »

Can anyone help please ? Had a policy with Lombard Finance had with great difficulty refused a PPI since I didn't need it but was co-erced into taking a Critical Illness Policy under great pressure.

That sounds implausible.

If I were inclined to missell a policy (which I am not) then PPI would be far easier than CI. It was simply "sign here" and its done.

By comparison, CI needs an extensive form filled in. Then it gets underwritten, which will take time during which you can reflect on your decision.

Then you get an offer and must confirm you want it to go into force.

After that you get a statutory cancellation notice which you can send back and get any money paid returned to you.