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MSE Poll: Have you tried to reclaim PPI? And if not, why not?

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MSE Poll: Have you tried to reclaim PPI? And if not, why not?

edited 30 November -1 at 1:00AM in Money Saving Polls
10 replies 5.5K views
MSE_NaomiMSE_Naomi MSE Staff
449 posts
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MSE Staff
edited 30 November -1 at 1:00AM in Money Saving Polls
Poll started 25 June 2019
There are only two months left to reclaim PPI. So we wanted to test whether you’ve done it, and if not, why not? Did you vote? Are you surprised at the results so far? Have your say below.

If you haven't already, join the forum to reply.

Thanks! :)

Replies

  • Being a savy money saver all my life I was never conned into paying for PPI. Now I am paying the price for all those who were not so savy, because ALL the banks customers are effectively footing the bill.The PPI repayments should have been completely met by the directors and shareholders who profited from the miss selling!.
  • PaulShPaulSh Forumite
    21 posts
    colinrosy wrote: »
    Now I am paying the price for all those who were not so savy, because ALL the banks customers are effectively footing the bill.The PPI repayments should have been completely met by the directors and shareholders who profited from the miss selling!.
    The compensation payments have reduced the capital value of the banks, and that will be reflected to an extent in their share price and their ability to pay dividends. So shareholders will have shared some of the pain.
  • edited 27 June 2019 at 2:29PM
    NaughtiusMaximusNaughtiusMaximus Forumite
    2.4K posts
    1,000 Posts Third Anniversary
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    edited 27 June 2019 at 2:29PM
    100% sure I've never had it.

    20 years ago I worked for a bank who managed the credit agreements for a lot of high street stores as well as offering loans and credit card directly, they heavily pushed PPI as a big part of their business model, it was obvious to me then it was a complete con and I made a point of avoiding it like the plague.

    The favourite trick of the [STRIKE]con-artists[/STRIKE] sales people responsible for selling it was to strongly (and falsely) imply you had a higher chance of being accepted for finance if you opted for PPI.
  • stripeyfoxstripeyfox Forumite
    474 posts
    I *think* the only time I had it was on some bank loans during the 90's and to be honest I went in eyes open and knew they'd offered PPI and I accepted it. I will say there was definitely a bit of "pressure" along the lines of "you're more likely to get accepted if you have insurance" but I was happy with the deal.

    I didn't make a claim on that basis, however a few years ago the bank told me they had missold PPI to me and chunked 8K into my account later that week!
  • KaysafusKaysafus Forumite
    8 posts
    I'm reasonably confident I didn't have PPI because I always paid off credit cards in full and there was no extra charge. I kind of wish I'd ad PPI though, loads of people seem to be getting massive payouts and I'm a bit jealous! :rotfl:
    Thanks so much to everyone who posts on here!

    2019 wins: Cash on Topcashback games, National Trust recipe book, £50 Rex London vouchers, IBW award books, Pizza Express vouchers, Next vouchers
  • Ambernova59Ambernova59 Forumite
    13 posts
    Second Anniversary 10 Posts Photogenic
    Don't think I ever had PPI, even though I have been a Littlewoods customer for over 30 years. Usually pay as I go in life.
  • KagseKagse Forumite
    1 posts
    I didn’t think I could do it as my old mortgages and bank accounts were with an ex partner I no longer have any contact with. Is it correct that the bank will need both signatures???
  • Rusty_ShackletonRusty_Shackleton Forumite
    473 posts
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    Never had PPI because I make sure I read and understand the agreements I'm signing. Pretty p**sed off with all the lazy and stupid people getting rewarded for their behaviour, especially since 'the banks' paying compensation inevitably means 'other customers/shareholders' etc. paying the compensation.
  • GabiBGabiB Forumite
    160 posts
    100 Posts Name Dropper
    Tried to but the bank is taken AGES to contact us, 2 months later, nothing!!!!

    Any ideas how long it should take?
    Btw I did it the day before the deadline.
    13 year old MoneySaving geek who loves reading MSE and who’s dream came true appearing on Martin’s show 😃
  • PasturesNewPasturesNew Forumite
    70.4K posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
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    Did it, even though I didn't think I'd ever had it/was eligible. Did it just because it was easy to do. They replied "no you didn't"
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