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NHS worker
NHS_worker_2
Posts: 3 Newbie
I have been informed that I am due just over £1700 PPI compensation but need to pay £1000 in fees unless I take out life insurance then I can keep the entire compensation of £1700 is this legitimate? I have signed up to life assurance for £10 a month which was the minimum amount I could pay with the intention of cancelling the policy when the money is in the bank. Has anyone else been asked to do this to avoid paying fees? Thank you.
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Comments
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Who has told you this?
What product is the PPI on and who did you buy it through?0 -
Sounds very much like a scam, pay £1000 to get £1700? Or pay £1000 and the scammer vanishes. Ring the bank or whoever supposedly owes this money and ask them direct
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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A Nationwide mortgage, the PPI company said the money will be in my band within a couple of weeks, if I take out life insurance I can avoid paying the fee for recovering the money.0
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So you've bought life insurance on the "understanding" that you won't now pay fees on a PPI complaint? PPI complaints are free anyway. No one is forced to pay a Claims Company in order to recover mis-sold PPI.NHS_worker wrote: »I have signed up to life assurance for £10 a month which was the minimum amount I could pay with the intention of cancelling the policy when the money is in the bank
You've been had mate.0 -
Well and truly had
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Comes back in a few years to ask "can I claim back for life insurance I was missold to get my PPI"
Let's have the name of this claims companyEx forum ambassador
Long term forum member0
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