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PPI/Plevin Award
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MackemMick
Posts: 14 Forumite
Still awaiting for the award but seen a few posts says your not awarded for a certain time due to non regulation before certain dates.
Mine is from 1997 to present date as the Halifax states even though there was no code of practice as such they awarded because of a general code of ethics in place before regulation kicked in.
Even so I do not know yet if it's a PPI or Plevin award as awaiting during the eight week period.
Mine is from 1997 to present date as the Halifax states even though there was no code of practice as such they awarded because of a general code of ethics in place before regulation kicked in.
Even so I do not know yet if it's a PPI or Plevin award as awaiting during the eight week period.
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PPI complaints have to be considered for banks like the Halifax
If the complaint is rejected and if your finance falls under the rules of Plevin then they will look at thatSam 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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Plevin only applies to debts that were covered under the consumer credit act (so, that eliminates some mortgages and secured loans) and where the credit agreement was still in force after 2008 (so if the debt was repaid before 2008 plevin would not apply).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.0
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Back in 97 I was clueless. The PPI malarkey was presented as a must have and no details relevant to their commission as they didn't have to , and clueless to ask. Underhand and took the pee out of the inept clueless mortgage buyer ( me ). Rather deceitful I would say.
Yet no criminal proceedings have been brought against their arguably criminal fraudulent activity. Just giving the money back is the remedy.0 -
Naivety is not a good complaint reason.
Also, it's only now that the misselling was judged as wrong. It was fine to sell it like that then, but retrospective rules have been employed, so it wasn't illegal, it wasn't criminal and it wasn't fraudulent. In addition you get 8% simple interest which more than makes up for any money spent on PPI unless it came in handy and was claimed on.Non me fac calcitrare tuum culi0 -
MackemMick wrote: »Back in 97 I was clueless. The PPI malarkey was presented as a must have and no details relevant to their commission as they didn't have to , and clueless to ask. Underhand and took the pee out of the inept clueless mortgage buyer ( me ). Rather deceitful I would say.
Yet no criminal proceedings have been brought against their arguably criminal fraudulent activity. Just giving the money back is the remedy.
It was not criminal or fraud, you not questioning what you were signing up for isn't some evidence of illegal activity.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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I don't know the specifics of this case, i.e. whether a claim would have been paid, so in this case it may not be fraud. However, in many cases, PPI was sold to people for whom claims would never be honoured, e.g. self-employed. If that's not fraud please explain to me why.0
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However, in many cases, PPI was sold to people for whom claims would never be honoured, e.g. self-employed. If that's not fraud please explain to me why.
Most self employed are covered. It is just a significant minority that were not. The PPi issue is one of great incompetence. This includes from the regulator.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.0 -
robtherelic wrote: »However, in many cases, PPI was sold to people for whom claims would never be honoured, e.g. self-employed. If that's not fraud please explain to me why.
You're falling for claims company myths againNon me fac calcitrare tuum culi0
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