Statutory sick pay and savings

greedybankers

Hello

I've been contacted today by my bank who I am making a PPI complaint against. They have confirmed I had PPI with my credit card, which dates back to 1998! I had no idea. So far, so good.

They have left me with two questions and they will call again. Did I have statutory sick pay at the time of the card being issued and did I have any savings.

I honestly don't remember. I suspect statutory sick pay was in place. I only doubt it because the company I worked for at the time was a pretty chaotic start up. Fortunately I am still friends with the boss so I've contacted him to confirm. Savings I'm not so sure about.

Now I know this isn't really in the spirit of things but, what are the 'correct' answers? I felt the guy on the phone (who was very nice and very helpful) was strongly hinting I should find out for certain as it 'could have a significant impact on my complaint.' To be perfectly honest I dont feel bad about saying the 'right' answers if they exist as they've confirmed I had PPI and there's no way in hell I would have agreed to it. I'm simply too tight to pay for anything I don't have to and it looks like I've been paying for it for nearly 20 years ... kerching?

I'm thinking 'yes' to both, are the correct answers. If I knew I was due sick pay and that I had savings, why would I knowingly take out PPI? Therefore it wasn't a suitable product to sell to me.

J

elsien

Isn't the point of statutory sick pay that it is just that; ie not at the employer's discretion? So if you were an employee then it is likely that you would have had SSP. That's different to any contractual pay offered by the employer over and abi e that. Which are they asking about?

The "right" answers are the correct ones to the best of your knowledge.

greedybankers

Ah, I'll need to clarify that. Thanks ... yes they must mean other than 'statutory'

greedybankers

As for savings. I have in general tried to live my life with a 'float' of a few grand. I do now so probably did 20 years ago. So 'to the best of my knowledge' I likely had a few grand in the bank when I took out the credit card. Is that 'savngs'?

Nasqueron

The correct one is the honest one


Remember you are making the complaint, you must prove your complaint details. If you were only given SSP then clearly PPI was a good product for you as it would be an additional benefit. If you had 6 months full pay like say the NHS then it obviously isn't as useful.


Be prepared to evidence savings and it's also not really a good complaint reason as anyone with an ounce of financial sense would use savings to clear a credit card debt given you will always earn a fraction of the interest in savings vs the card charges

greedybankers

Thanks. I was told I'd have to prove neither! But perhaps there are different circumstances for complaints going back so far.

Nasqueron

If they didn't ask for proof then they perhaps have records of roughly what your company paid out from previous customers if it was a big one. Logically though if you make a claim like not needing PPI because of work benefits then they would expect you to prove it

greedybankers

Nasqueron wrote: »

The correct one is the honest one

Unlike the bank in foisting PPI on me in the first place! Nealy 20 years I've been paying it. Thieves

dunstonh

Generally, people who borrow on a credit card have little or no savings. So, if you say you had savings, expect them to ask for evidence of it.

Unlike the bank in foisting PPI on me in the first place! Nealy 20 years I've been paying it. Thieves

The fact you were paying it for 20 years without querying it suggests either you are now trying it on or you have awful money management. Nobody really comes out of the PPI issue smelling of roses.

greedybankers

How rude and presumptious of you

You're saying I'm either rubbish with money or dishonest

The first is not for you to say even if it were true and you have no basis for the second

-taff

greedybankers wrote: »

Unlike the bank in foisting PPI on me in the first place! Nealy 20 years I've been paying it. Thieves

After 20 years, your memory of what happened is not going to be reliable as you have said [ which is why most people don't remember agreeing to it, if you can't remember what your sick pay and savings were twenty years ago, it's no surprise you don't remember agreeing to the PPI], so if you said you had savings and received employer sick pay, you may be asked to prove it.
If you don't know the answers to the questions they asked you, say you don't know. There is no 'right' answer.