MSE Poll: What puts you off from reclaiming mis-sold PPI?

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Former_MSE_KarlFormer_MSE_Karl Former MSE
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Poll started 29 August 2017

What puts you off from reclaiming mis-sold PPI?

It was announced this week that the majority of people likely owed compensation for PPI haven’t claimed it yet. There are only two years left for people to claim, and given many could be owed thousands plus a new ruling means just having had PPI makes it likely you were mis-sold, we want to know what is putting people off.

Please select the single biggest reason which applies to you.


Did you vote? Are you surprised at the results so far? Have your say below. To see the results from last time, click here.

If you haven’t already, join the forum to reply.

Thanks! :)


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Replies

  • MothballsWalletMothballsWallet Forumite
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    Never took it out in the first place.
    Getting sick and tired of the advertising and the cold calls from claim companies.
    The regulator really screwed the pooch on this one in my book.
  • stressedofdevonstressedofdevon Forumite
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    I haven't claimed as my life has just been too complicated. I don't know all my addresses, the dates I moved, what catalogues/loans/accounts I might have had. Where to begin with it all and the pain of rehashing details of the past mean I can't face reclaiming PPI if indeed I ever had it.
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  • CliddyCliddy Forumite
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    I had ppi on mortgage that started in 1975 and was paid off early. Unlikely to be included.
  • edited 30 August 2017 at 2:48AM
    jenniewbjenniewb Forumite
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    edited 30 August 2017 at 2:48AM
    I know I had PPI! I had to take out a credit-card/staff discount card when I began my job (no longer working for that company now) and it had PPI. It was explained to us and I remember it being said that if we ever lost our job any debts on the card would be paid off in the manner we had been paying it (eg minimum payment or payment in full).


    I lost my job through health reasons (long story, that's a bit too vague but to say it wasn't consciously my fault). I tried to claim the PPI to pay off the payments on my discount card and was refused. I was too ill to chase them and this debt as well as all the others I had caused me a break down. Severe enough to warrant psychiatric help.


    So for this reason alone, I want to claim back the PPI. I don't really want the money as much as the company to not have been able to lie to me like that and get away with it when it caused me so many problems. Anger is a good description!


    I have tried several times to chase the company- it was GE Money which has since been swallowed up by Santander. But they refuse to agree I even had an account- I even have the paperwork!


    As I am not able to take on as much as I'd like to I actually contacted one of those paid for companies who said they'd chase this. They have done nothing, but I signed forms and if I did chase it myself I would have to deal with that company first (otherwise anything I get back in PPI would have this company chase me for their cut) And that's before I even think where to start. I know I had PPI, I also know I had an account- I still have a statement and the card but Santander say they are fakes and wont take my claim seriously. I don't know what to do and if it's even worth the trouble...
  • edited 30 August 2017 at 9:57AM
    PyxisPyxis Forumite
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    edited 30 August 2017 at 9:57AM
    I haven't claimed as my life has just been too complicated. I don't know all my addresses, the dates I moved, what catalogues/loans/accounts I might have had. Where to begin with it all and the pain of rehashing details of the past mean I can't face reclaiming PPI if indeed I ever had it.

    That pretty much mirrors my reasons, too, plus there are a couple of other factors, one being that my affairs are in a right state.

    I do intend to have a bit of a look to see if I have any paperwork, at some stage before the deadline, but I don't hold out much hope of finding any.

    I think that I may have had some sort of ppi at a time when I was self-employed, and when I found out that I wouldn't be able to claim anything on it, due to being self-employed , I cancelled the policy. I don't think I had spent a fortune on it, so I don't know if the enormous hassle and stress it would cause would be worth it.


    Plus I went through several different credit cards, and can't remember most of them.
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  • My pip claim can't go ahead because of my ex husband. He ll not claim with me, preferring us both to miss out instead. It was a loan for 5-6yr but bitterness consumes him :(
  • We haven't claimed because my husband agreed to the PPI all those years ago when he bought his first house. He was told by the bank he had to take it out so he agreed to it. We have PPI again now for our new mortgage and I'm confused as to how a claim would or could affect our new PPI.

    Does anyone know? Thanks in advance.
  • thebestnameshavegonethebestnameshavegone Forumite
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    I wouldn't know where to start - we only keep paperwork for seven years, and any old loans, mortgages etc would have been taken out back in the 1980s/90s and long since paid off. If you could search just using a name or an address then it would be fine, but trying to remember who you had a credit card from 20 or 30 years ago is impossible - I can remember my card had a picture of a penguin on it, and that's about it!
  • I can't remember who my first credit card/mortgage was with and don't think I have kept the paperwork from 30 years ago which is very unlike me as I usually keep far too much.
  • I took out my first mortgage and any loans with Abbey National or Nat West in 1987; I don't have that paperwork and I doubt anyone else will after 30 years. As I got older I got wiser and didn't sign up for PPI but not sure about earlier stuff as I was quite naïve then.


    I assume there is a time limit? I thought you could only claim back up to 6 years.
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