Using an agency as I don't rememeber who I could have had credit with

[Deleted User]

sourcrates wrote: »

99% of all PPI Insurance was mis-sold

That's a definitely gross exaggeration, I'm afraid.

-taff

sourcrates wrote: »

99% of all PPI Insurance was mis-sold, as Bank staff lied about it being compulsory, or it was included without the debtors knowledge..

It is classed as missold now yes, but the, it wasn't, especially in the case of SIngle Premium PPI. There was no problem with that then, now there is.

99% of people knew they were taking out PPI, they just forgot, either because they were so happy to get their hands on loan [like myself] or because they didn't read the paperwork properly, or because they thought insurance was a good thing, not a bad thing.

For every loan [barring a very few and far between] you had to sign the loan agreement, or agree to it online [unless there was an automatic tick box]. For every credit card with an outstanding balance, it's listed on each an every statement.

This stuff about not agreeing to it or not knowing about it, or it being added without someone knowing it is a myth perpertrated by claims companies, who are even worse than any of the places that sold the PPI because they are deliberately exagrrating things to Joe Public because anyone who's silly enough to have not read papaerwork before signing is likely to do the same thing again, and sign up for 50% of their redress to be taken for the price of stamp.

Browse this forum, there are plenty who've been sold PPI and then decided to use a claims company as well, compounding their problems.

dunstonh

99% of all PPI Insurance was mis-sold, as Bank staff lied about it being compulsory, or it was included without the debtors knowledge.

Rubbish.

Firstly, not all PPI was sold by banks and some types of PPI sales only have a minority of complaints upheld. A lot of PPI was self bought and on purpose and continues to be held for the reason it was bought for.

giveitabash

what portion the bank sold overall is clear from the costs incurred. A lot of PPI was self bought....that's quite a blanket statement but i do understand why PPI would be self bought/held onto.

-taff

Any particular reason you keep posting fluff replies?

[Deleted User]

-taff wrote: »

Any particular reason you keep posting fluff replies?

Spambot.....