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'We reclaimed £175,000 with MSE's help' - is this the biggest-ever PPI payout? - MSE News
'We reclaimed £175,000 with MSE's help' - is this the biggest-ever PPI payout?'
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If they had been stupid enough to use a PPI reclaim company could have cost them between £50,000 and £60,000 from that payout !Ex forum ambassador
Long term forum member0 -
MSE_Article wrote:It's the largest PPI success story we've seen
Surely they mean the "largest PPI failure story" they have seen. Spending so much money on unnecessary insurance is not exactly a success is it.0 -
To be fair, the 8% interest they've earned on their PPI "investment" will have been a large chunk of their award.Spending so much money on unnecessary insurance is not exactly a success is it.
However, the couple must have been up to their eyes in debt for decades.
I wonder did they complain that they "didn't know they had it"?
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found it wasn't all plain sailing as they were asked to provide further evidence to back their claim.
Shock horror!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'm in two minds whether it should be "systemically" or "systematically".There's nothing wrong with it in itself, but banks and building societies massively overcharged and systemically mis-sold it.0 -
I'm in two minds whether it should be "systemically" or "systematically".
More to the point, why does MSE think a bank selling a poor value product is somehow wrong.
It's like complaining that you bought your shopping in Waitrose 10 years ago and then found out you could have bought it at Aldi for half the price. Buying an expensive product when cheaper ones are available is not miss-sellingSam 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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Poor analogy.It's like complaining that you bought your shopping in Waitrose 10 years ago and then found out you could have bought it at Aldi for half the price. Buying an expensive product when cheaper ones are available is not miss-selling
There is a vast difference between expensive items and those that are not value for money.0 -
So what the got back is the interest they paid or the total amount they paid back"If I know I'm going crazy, I must not be insane"0
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