We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Payment Protection Scam
HI all
I thought this may help.
talking to Northern Rock today with a friend about the possibility of a loan and they were very insistant on my friend taking payment protection at over £80 a month.
I questioned this and the operator went into read it off the screen mode "as a repsonsible lender etc etc"
I questioned again if my friend had to take this and I couldnt get a straight answer.
So I said we would look elesewhere and the operator agreed to do the lon with the PP.
The to my surprise - we can sell you another PP policy for £20 a month - would you want this insted of the £80
Thats £720 a year difference.
I know we get get ASU much mcuh cheaper.
Beware - they may be very cheap on loans but the PP is bacially a scam.
Gibby
I thought this may help.
talking to Northern Rock today with a friend about the possibility of a loan and they were very insistant on my friend taking payment protection at over £80 a month.
I questioned this and the operator went into read it off the screen mode "as a repsonsible lender etc etc"
I questioned again if my friend had to take this and I couldnt get a straight answer.
So I said we would look elesewhere and the operator agreed to do the lon with the PP.
The to my surprise - we can sell you another PP policy for £20 a month - would you want this insted of the £80
Thats £720 a year difference.
I know we get get ASU much mcuh cheaper.
Beware - they may be very cheap on loans but the PP is bacially a scam.
Gibby
never take advice from broke or unsuccessful people
Jim Rohn
Jim Rohn
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.5K Banking & Borrowing
- 254.1K Reduce Debt & Boost Income
- 455K Spending & Discounts
- 246.6K Work, Benefits & Business
- 602.9K Mortgages, Homes & Bills
- 178K Life & Family
- 260.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards