MSE News: Claim PPI now as banks call for deadline

ALIBOBSY

chris-j wrote: »

This is just nonsense. If people don't know about PPI they must be living in complete isolation for past 5 years.
Yes many were missold, but many were more than happy to have the cover and would have happily claimed if their circumstances had warranted it.
The fact loads of claims have been made by people who successfully claimed and chancers speaks volumes.

Draw a line under this and stop costing taxpayer money. Next target will hopefully be claims against the claims management sharks who have stolen money from the PPI claimants.
It's a vicious circle which needs to stop asap before we fall into the situation of 90% of texts calls and emails are from claims managements companies encouraging people to make false and fraudulent claims.

I applaud MSE and Martin for promotion of good financial sense for all, but their obsession of supporting the "underdog" at any cost wears a bit thin.

I personally know a number of people (majority OAP's) who have seen the news stories, but are unclear if they ever had PPI or even what it is. TBH even when I offered to help the standard line is I don't think the bank would have done that to me/I don't have the documents/don't rock the boat/just leave it.

I think if they got a direct letter from the bank pointing out the accounts they had PPI on and that they could complain directly, many of those who would just have "let it go" would actually put a claim in.

Its the same reason why claims companies grow, for many they just won't do the legwork, or get confused or simply don't want to rock the boat. Now OK not all will have been miss sold, but given the widespread systematic miss selling in the sector many must have been, these are the ones the bank hopes will miss out if they don't write out as they already have been TOLD to do.

Ali x

chris-j

Dont disagree ALIBOBSY, quite honestly once they reached multi billions and I know a couple of people brought into banks to deal with PPI claims, I would have thought long term it would be much cheaper and simpler for banks to review all account and loans which had PPI in say previous 10 years and let people complete a form to indicate if they thought they had been missold.
This would have removed all these claims management leeches from latching onto this and encouraging fraudulent claims.

Perhaps best solution would be a compromise from all - The FSA and MOJ outlaw these PPI leeches, the banks advise how long it would take to review all accounts where PPI paid and identify costs involved to refund and ringfence this money and if people claim in future all the work should have been done.

Having this continue endlessly is not good for anyone (except the leeches)

-taff

chris-j wrote: »

Ignorance is bliss is it not:)

I've never been happier