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'We reclaimed £175,000 with MSE's help' - is this the biggest-ever PPI payout? - MSE News

A retired couple have paid off their mortgage and all of their debts after receiving an astonishing £175,000 for mis-sold PPI - the largest payout we've EVER seen...
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'We reclaimed £175,000 with MSE's help' - is this the biggest-ever PPI payout?'
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  • BrowntoaBrowntoa Forumite, Ambassador
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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 !
    I'm a Forum Ambassador and I support the Forum Team on the Shopping and Freebies, Phones and TV and Over 50s boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing . All views are my own and not the official line of MoneySavingExpert.
  • TakmonTakmon Forumite
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    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.
  • [Deleted User][Deleted User] Forumite
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    Takmon wrote: »
    Spending so much money on unnecessary insurance is not exactly a success is it.
    To be fair, the 8% interest they've earned on their PPI "investment" will have been a large chunk of their award.

    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"? :D
  • NasqueronNasqueron Forumite
    7.7K Posts
    found it wasn't all plain sailing as they were asked to provide further evidence to back their claim.


    Shock horror!
    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
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  • tgroom57tgroom57 Forumite
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    There's nothing wrong with it in itself, but banks and building societies massively overcharged and systemically mis-sold it.
    I'm in two minds whether it should be "systemically" or "systematically".
  • NasqueronNasqueron Forumite
    7.7K Posts
    tgroom57 wrote: »
    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-selling
    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]
  • [Deleted User][Deleted User] Forumite
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    Nasqueron wrote: »
    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
    Poor analogy.

    There is a vast difference between expensive items and those that are not value for money.
  • Kernow666Kernow666 Forumite
    3.5K Posts
    Seventh Anniversary 1,000 Posts Combo Breaker I've been Money Tipped!
    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"
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