Forum Home » Reclaim PPI & Other Insurance

Up to 150,000 rejected PPI claimants to receive letters saying they can complain again - MSE News

New Post Advanced Search

Coronavirus: The latest from MSE


The MSE team is working extremely hard to keep the info we have about your travel rights, cancellation rights, sick pay (and more) up to date.
The official MSE guides: UPDATED MSE Coronavirus Guides

NEWSFLASH


New, free ‘Academoney’ course from MSE and the Open University launches
All the key areas of personal finance are covered, so that you can master your money decisions


Up to 150,000 rejected PPI claimants to receive letters saying they can complain again - MSE News

edited 30 November -1 at 1:00AM in Reclaim PPI & Other Insurance
30 replies 3.3K views
MSE_Megan_FMSE_Megan_F Former MSE
418 posts
Newshound!
edited 30 November -1 at 1:00AM in Reclaim PPI & Other Insurance
The financial watchdog has said that up to 150,000 PPI customers, whose mis-selling claims were previously rejected, should be written to and told that they can make a new complaint...
Read the full story:
'Up to 150,000 rejected PPI claimants to receive letters saying they can complain again'
OfficialStamp.gif
Click reply below to discuss. If you haven’t already, join the forum to reply.
Read the latest MSE News
Flag up a news story: [email protected]
Get the Free Martin's Money Tips E-mail
«13

Replies

  • grumblergrumbler Forumite
    52.9K posts
    Part of the Furniture 10,000 Posts Photogenic
    ✭✭✭✭✭✭
    Would it not be simpler just to return ALL PPI premiums ever paid?
    And then start investigation on all retailers selling products with margin higher than 67%?
    We are born naked, wet and hungry...Then things get worse. :(

    .withdrawal, NOT withdrawel ..bear with me, NOT bare with me
    .definitely, NOT definately ......separate, NOT seperate
    should have, NOT should of
    .....guaranteed, NOT guarenteed
  • dunstonhdunstonh Forumite
    101.1K posts
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    ✭✭✭✭✭✭
    Would it not be simpler just to return ALL PPI premiums ever paid?

    No. Remember that there is nothing wrong with having PPI and some distribution channels have tiny uphold rates on complaints. You can still buy PPI today.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • NasqueronNasqueron Forumite
    7.7K posts
    ✭✭✭✭
    grumbler wrote: »
    Would it not be simpler just to return ALL PPI premiums ever paid?
    And then start investigation on all retailers selling products with margin higher than 67%?


    So what about people who wanted it or even used it to claim?


    PPI is fine, PPI miss-selling is not
    the concept of a United States of Europe is right.” Winston Churchill 1930
    I think that the Government are right to apply to join the European Economic Community...” -Winston Churchill 1961
    “The future of Europe if Britain were to be excluded is black indeed.”[FONT=&quot][FONT=&quot][FONT=&quot] - Winston Churchill 1963
    [/FONT][/FONT][/FONT]
  • grumblergrumbler Forumite
    52.9K posts
    Part of the Furniture 10,000 Posts Photogenic
    ✭✭✭✭✭✭
    Nasqueron wrote: »
    So what about people who wanted
    Define "wanted".
    Found the information about PPI themselves and asked their bank for it?
    it or even used it to claim?
    OK. Refund if no claim was made.
    PPI is fine, PPI miss-selling is not
    Again, define misselling.
    If it's that simple, why the goalposts keep getting moved?
    We are born naked, wet and hungry...Then things get worse. :(

    .withdrawal, NOT withdrawel ..bear with me, NOT bare with me
    .definitely, NOT definately ......separate, NOT seperate
    should have, NOT should of
    .....guaranteed, NOT guarenteed
  • All_eBayed_OutAll_eBayed_Out Forumite
    1.4K posts
    Part of the Furniture 1,000 Posts Photogenic Combo Breaker
    ✭✭✭
    They want us not to claim. I spent ages pulling all the information together to send to my claims company. After about 8 accounts being put forward I ended up with an offer of about £40 on one and told by all the others either they cant find my account or no i'm not entitled. Its a sham.
    Whether we win or lose,
    that we played at all was a winning decision. :D
    2011 wins £12,292
    2012 wins ...
    Thank you to all who post on here!!!! :A
  • dunstonhdunstonh Forumite
    101.1K posts
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    ✭✭✭✭✭✭
    Define "wanted".
    Found the information about PPI themselves and asked their bank for it?

    Those that bought it themselves directly or via comparison sites.
    Those that bought it for mortgage purposes
    OK. Refund if no claim was made.

    What about those that have not had a claimable event but have a financial need and want for it?
    Again, define misselling.
    If it's that simple, why the goalposts keep getting moved?

    This thread is not about a moving goalpost. it is about a flukey change that the FCA themselves didnt notice at the time and didnt adjust their rules on. This issue is not about misselling.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • dunstonhdunstonh Forumite
    101.1K posts
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    ✭✭✭✭✭✭
    They want us not to claim. I spent ages pulling all the information together to send to my claims company. After about 8 accounts being put forward I ended up with an offer of about £40 on one and told by all the others either they cant find my account or no i'm not entitled. Its a sham.

    Indeed claims companies are a bit of a sham.

    They got you doing all the work and would have happily take their cut had you been paid out.

    If they could not find any info, then they have to use any info you have available. So, you could always supply your records.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • edited 5 February 2019 at 12:07PM
    grumblergrumbler Forumite
    52.9K posts
    Part of the Furniture 10,000 Posts Photogenic
    ✭✭✭✭✭✭
    edited 5 February 2019 at 12:07PM
    dunstonh wrote: »
    Those that bought it themselves directly or via comparison sites.
    Those that bought it for mortgage purposes
    Strange definition of this word.
    What about those that have not had a claimable event but have a financial need and want for it?
    Again, "need" is far too vague term.
    This thread is not about a moving goalpost.
    IMO it IS.
    "Last year, the Financial Conduct Authority (FCA) began consulting on new guidance on how firms should decide if a customer with payment protection insurance (PPI) has been treated unfairly, and it has now given clarification that means more customers can try to reclaim."

    And, I guess, all this is because of using such vague terms as "wanted", "needed" etc.
    The amount of money wasted on this campaign with changing rules is so huge, that I really think it would be cheaper for all of us just heave the money simply returned
    We are born naked, wet and hungry...Then things get worse. :(

    .withdrawal, NOT withdrawel ..bear with me, NOT bare with me
    .definitely, NOT definately ......separate, NOT seperate
    should have, NOT should of
    .....guaranteed, NOT guarenteed
  • BermoniaBermonia Forumite
    977 posts
    500 Posts
    ✭✭✭
    Let’s be honest... most PPI polices were NOT mis-sold at the time of selling as most lenders adhered to the rules and regulations set out to them - yet it’s has been decided that they need to have adhered to guidelines that have only recently been made up - wouldn’t be acceptable in most scenarios, even the law is only considered on basis of ‘law’ at time of an event.

    And let’s also make it clear that PPI was not also wanted by many people but was also often a prudent decision given that most people receive little or no sick pay and those who are borrowing often have no savings to fall back on should the worse happen.

    Grumbler by name, Grumbler by nature eh?!
  • dunstonhdunstonh Forumite
    101.1K posts
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    ✭✭✭✭✭✭
    Strange definition of this word.

    What word?
    Again, "need" is far too vague term.

    No its not. People have a need for buildings insurance, life assurance etc. Just because they have not claimed, does not mean the need doesnt exist.
    IMO it IS.
    "Last year, the Financial Conduct Authority (FCA) began consulting on new guidance on how firms should decide if a customer with payment protection insurance (PPI) has been treated unfairly, and it has now given clarification that means more customers can try to reclaim."

    Its not moving goalpost. It doesnt have anything to do with missale complaints. It is an additional issue.
    The amount of money wasted on this campaign with changing rules is so huge, that I really think it would be cheaper for all of us just heave the money simply returned

    And who is going to pay for all that money refunded on all the good PPI plans set up?
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
Sign In or Register to comment.

Quick links

Essential Money | Who & Where are you? | Work & Benefits | Household and travel | Shopping & Freebies | About MSE | The MoneySavers Arms | Covid-19 & Coronavirus Support