PPI claims companies

big.gb

I heard Martin on Radio 5 Live today talking about PPI. He said that you could only claim if you were mis-sold policies ie you would get a better interest rate or it was required because of your health etc. etc. You had to be sold a policy.
When the claims companies ring one of there lines is that if you had a loan or a credit card they add PPI to the repayments without you knowing. Is this correct?
I know I havnt been sol a policy but could one have been added without my knowledge?

[Deleted User]

No. . ..............

dunstonh

When the claims companies ring one of there lines is that if you had a loan or a credit card they add PPI to the repayments without you knowing.

They are not added without knowledge. However, people often sign without reading.

If you had it on a credit card, it would appear on each monthly statement you borrowed money. So, these things are not invisible.

Insider101

big.gb wrote: »

I heard Martin on Radio 5 Live today talking about PPI. He said that you could only claim if you were mis-sold policies ie you would get a better interest rate or it was required because of your health etc. etc. You had to be sold a policy.
When the claims companies ring one of there lines is that if you had a loan or a credit card they add PPI to the repayments without you knowing. Is this correct?
I know I havnt been sol a policy but could one have been added without my knowledge?

If you haven't been sold a policy (I.e no policy exists) then you can't complain that it was missold.

The CMC comments are nonsense designed to get you to sign up. These are salespeople on commission. PPI can't be hidden if you read your paperwork. It is on original agreements/monthly statements depending on the type of PPI.

If you're not sure then just ring up your bank PPI line and ask.

big.gb

Thanks thats what I thought. On the last call I asked where they got my number and the reply was, " the banks have got together and produced a list of all those they owe PPi to and passed it to the claims companies." Why cant something be done to stop these calls. And yes I am registered with the TPS

Insider101

big.gb wrote: »

Thanks thats what I thought. On the last call I asked where they got my number and the reply was, " the banks have got together and produced a list of all those they owe PPi to and passed it to the claims companies." Why cant something be done to stop these calls. And yes I am registered with the TPS

All you can do is take their full details and report them to the Ministry of Justice who regulate CMCs. As you have seen, they are far more guilty of misselling their services than banks ever were.

addedvaluebob

I know I havnt been sol a policy but could one have been added without my knowledge?

Yep.

Its easy. You ring up or visit your bank to discuss a loan. They give you a monthly repayment figure and don't hand over or send all the paperwork showing the cost of PPI either as a single lump sum added to the initial loan or as a seperate part of the monthly cost.

As for the company calling you, all you can do is report them to the MoJ for lying