NRAM PPI success but DCA wants money

PeacefulWaters

pmartin86 wrote: »

Just out of curiosity, as im a little too young to have been part of the whole "PPI" thing - Surely thats what the point of it was? You pay insurance so that when you fail to pay, the insurance pays? Or have I got that way wrong?

It wasn't an insurance against failing to pay.

Typically protection against accident, illness and redundancy.

suep1967

[If that's all that you can offer then it is the height of stupidity for your husband to go self employed when your finances are in such a crisis unless he has guaranteed income payable within a few weeks. I would suggest delaying the self employment until you have at least 3 to 6 months outgoings saved up in an emergency fund otherwise you're likely to be getting more debt letters from a whole new raft of people you're behind with payments to.]

Whilst I appreciate a response to my thread, I don't see the need to call myself & my husband stupid. You don't know our circumstances. The idea of having the payout of PPI is that it will act as a rainy day fund. I didn't say that there wasn't any income coming in, just that it's not enough to cover everything. My husband has been doing extra work to build up his customers. We are not going into this with our eyes closed. We have prepared for about 12 months. Your comment is unhelpful and quite rude. Don't comment on what you don't understand.

suep1967

Tarambor wrote: »

If that's all that you can offer then it is the height of stupidity for your husband to go self employed when your finances are in such a crisis unless he has guaranteed income payable within a few weeks. I would suggest delaying the self employment until you have at least 3 to 6 months outgoings saved up in an emergency fund otherwise you're likely to be getting more debt letters from a whole new raft of people you're behind with payments to.

Whilst I appreciate a response to my thread, I don't see the need to call myself & my husband stupid. You don't know our circumstances. The idea of having the payout of PPI is that it will act as a rainy day fund. I didn't say that there wasn't any income coming in, just that it's not enough to cover everything. My husband has been doing extra work to build up his customers. We are not going into this with our eyes closed. We have prepared for about 12 months. You don't know what he has to put up with at work and it's affecting his health. Your comment is unhelpful and quite rude. Don't comment on what you don't understand. :shocked::shocked: