Am I the only one not claiming PPI?

wolvoman

Seems to be.

£20bn and counting. I hear stories of people getting refunds of £30,000! With 8% compound interest! This website is obsessed by it.

Am I the only one who took out credit cards and ticked the 'no' box?

Have never had an unsecured loan either, I'm guessing this is where most of the claims are coming from?

And it's good to hear most of the recipients of these generous refunds are putting the money into savings and overpaying mortgages rather than deposits on new cars..... oh wait a minute...

dunstonh

Am I the only one not claiming PPI?

No. Despite the coverage and constant adverts, most of the population never had PPI.

custardy

nope,none here.

marleyboy

None here. However I did get told to get PPI in order to secure a loan agreement with the bank, but cancelled as soon as the funds were available.

Goldiegirl

wolvoman wrote: »

Am I the only one who took out credit cards and ticked the 'no' box?

No you are not the only one, and when I applied for unsecured loans in the past, I also said no to PPI.


If a person genuinely was mis-sold a product, then I think it is fair enough that they should receive redress.


BUT, I suspect most of these so called 'claims' are being made on a speculative basis, and the banks are throwing money at them because it's easier to do that, instead of trying to investigate something that happened nearly 20 years ago.


The general attitude is 'I wanna claim my PPI back', rather than making a complaint, giving clear reasons why they feel they were mis-sold.


Sadly, I think MSE has been instrumental in creating this situation - even the name of this board is 'Reclaim PPI'. You DON'T reclaim it - you make a complaint about why you were missold it:mad:

ICan'tStandIt

Goldiegirl wrote: »

No you are not the only one, and when I applied for unsecured loans in the past, I also said no to PPI.


If a person genuinely was mis-sold a product, then I think it is fair enough that they should receive redress.


BUT, I suspect most of these so called 'claims' are being made on a speculative basis, and the banks are throwing money at them because it's easier to do that, instead of trying to investigate something that happened nearly 20 years ago.


The general attitude is 'I wanna claim my PPI back', rather than making a complaint, giving clear reasons why they feel they were mis-sold.


Sadly, I think MSE has been instrumental in creating this situation - even the name of this board is 'Reclaim PPI'. You DON'T reclaim it - you make a complaint about why you were missold it:mad:

You are quite correct and for years I resisted as I figured that the PPI had been sold correctly (sort of) and I probably just hadn't listened to some of the jargon and T&Cs etc.


However, I've worked for a lot of banks and have seen the blatant mis-selling that went on (and probably still does) and the blind eyes turned by managers that wanted and needed their targets met. I've seen the elderly, the barmy and the foreign, to name a few, all taken advantage of and ripped off.


I've submitted claims and have been successful in all but one. The banks have brought all this on themselves and have no one but themselves to blame and I stopped feeling guilty ages ago about claiming my PPI had been mis-sold.

carlislelass

None here either

societys_child

I had ppi on a CC (I actively ticked the box myself) I never paid anything though 'cos I paid the balance every month. So my complaint would be that I wanted the amount of zero back + 8% . . .





. . . the 8% would come in handy

jellie

Never had PPI, never been told I had to have it in order to get the loan/cc/whatever, never been added without my consent or knowledge.

Wish I could get 8% interest on my savings though.

tomtontom

I've had no reason to claim either, but then I read what I'm signing up to and check my statements once in a while.

I do worry about the people getting very large amounts back - they must have had ridiculous amounts of debt to have incurred the cost in the first place. Quite sad really

welshgasman

I never knowingly had PPI, as I had funds to pay off any credit cards, no loans involved. However I was caught out with an Egg card, but only found out when they contacted me. They refunded me the one payment plus the 8%.

I am also aware of bank employees taking out PPI at the time (so it must have had some merit, as they would have been in the know?), but they have then gone on to claim misselling. :-)