MSE News: PPI mis-selling bill reaches £8.9 billion

"£439 million was paid out to victims of PPI mis-selling in January, taking the overall total to £8.9 billion..."
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PPI mis-selling bill reaches £8.9 billion

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  • jcontest
    jcontest Posts: 223 Forumite
    First Post First Anniversary Combo Breaker
    Wow, No replies.

    Ya know, here is the thing that gets me.
    The banks were mis-selling... But now It is the customers who are mis-claiming.

    I think this is one of those things that is shameful all around, and the honest people are the ones who once again have nothing to gain.

    The Dealers got their high bonus's, the non-dealers go fired for low-targets. The people with little to no care of reading what they were signing now claims that they were lied to and get the money back. The people who took out insurance because they felt they might need it are claiming the money back.

    The only upshot is that the people who were mis-sold are possibly getting the money back. The banks could probably tell what staff were doing this and contact customers, but as it is now expecting the banks to refund 100% of all PPI is just wrong, it makes many of those claiming just as bad as the banks!.

    And no, I have not claimed back any PPI, I never took it out on anything. And yes, I know people who have claimed it back even with them saying they knew they had it and they wanted it at the time AND they have it on their current products.

    We need to move on to the other mis-sold things (Non-Authorised Account "Upgrades") and loans that are not what the customer asked for or required. I doubt that will ever happen.
  • I do wonder why anyone took it out. I remember even when I was younger at 21 I was offered it for a loan. I remember asking what it was for and the call operator told me if I were to loose my job I'd be covered. I worked for a company I could tell wasn't going to go under (this was back in 1994 it's still around today) so the only chance of me loosing my job was if it was my fault which wasn't covered so that was pointless. She said it covers me if I die, I told her if I was dead I wouldn't exactly be bothered. She said I'd be covered if I become terminally ill I told her I was only 21 and wasn't planning to die yet.
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