PPI back to the 1970's

edited 30 November -1 at 1:00AM in Reclaim PPI & Other Insurance
2 replies 5.1K views
Grumpy_Old_DufferGrumpy_Old_Duffer Forumite
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edited 30 November -1 at 1:00AM in Reclaim PPI & Other Insurance
Just watched the MLM Show and I'm now wondering if I'm one of those who may have buried-their-head-in-the-sand regarding PPI.

I've had Mortgages and Bank Loans going back to the 1970's and Credit Cards since they came out.

I've always stated on Mortgages & Bank Loans that I did not want PPI, but after listening to the MLM Show this afternoon I'm now not to sure whether I was mis-sold PPI or not!!

With regards to Credit Cards I have ALWAYS paid off my Card debt EVERY month.

My questions are:-
  1. If I've paid off Credit Cards every month, would the claiming of mis-sold PPI be relevant to my situation?
  2. I must be like most people and I don't hold paperwork going back to the 1970's, so how would I go about finding out if I actually paid PPI on my early Mortgages and Bank Loans?
It has taken about 4,500,000,000 (4.5 billion) years for the Earth to form as it is now .........
and it'll only take about another 100 years for mankind to really **** it up!!!!

Replies

  • edited 30 January 2016 at 6:36PM
    societys_childsocietys_child Forumite
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    edited 30 January 2016 at 6:36PM
    With regards to Credit Cards I have ALWAYS paid off my Card debt EVERY month.
    Then you will not have paid any PPI even if there was a policy attached to the card.
    how would I go about finding out if I actually paid PPI on my early Mortgages and Bank Loans?
    You could phone them and ask, but it's rather a long time ago . . .

    Trouble is, if you don't even know if you had ppi, how will you remember (and prove) any miss-sell reasons?
  • dunstonhdunstonh Forumite
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    I've had Mortgages and Bank Loans going back to the 1970's and Credit Cards since they came out.

    PPI was an 80s product.
    I've always stated on Mortgages & Bank Loans that I did not want PPI

    If it wasnt available in the 70s, how did you state it?
    With regards to Credit Cards I have ALWAYS paid off my Card debt EVERY month

    PPI was charged on the amount borrowed on the card outside of the interest free period. So, if you cleared it each month, it wouldnt be charged. Even if you were charged, it would have appeared as an entry on the statement. So, you couldnt miss it.
    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.
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