Banks struggle to handle last-minute surge in PPI complaints - MSE News
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I'd admit to rumblings rather than ramblings. Then it's exactly that if you like. Are you surprised? They started down that trail within weeks of me joining. We are talking of a big bank having its methods seriously questioned from within. I left under agreed terms over two years later almost exactly to the day that Martin's campaign caused the banks to finally fold in the courts. Guess why it took so long? They were so in the wrong. It was quite a journey. They like to employ special compliant types and sometimes they get far more than they bargained for both inside and outside their employ.Sounds like the ramblings of a disgruntled employee ‘asked’ to leave their employ
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No. You can't invent something that didn't happen.I'm now confused. I've never taken out PPI, as I saw that it was unnecessary in my circumstances.
But what's to stop anyone claiming they had a PPI product 20 or more years ago?
I certainly wouldn't keep records that long, and I think financial institutions only keep them for 6 years....
Is this a carte blanche case of making up claims and getting big payouts?
Banks often do have evidence that goes quite far back surprisingly.
I work at the FOS and where people are making spurious claims the lender will just say they can't find any record of PPI and show us screenshots proving this. Then the complaint is just binned effectively.0 -
I'm now confused. I've never taken out PPI, as I saw that it was unnecessary in my circumstances.
But what's to stop anyone claiming they had a PPI product 20 or more years ago?
I certainly wouldn't keep records that long, and I think financial institutions only keep them for 6 years....
Is this a carte blanche case of making up claims and getting big payouts?
My old former bank had enough information from nearly 20 years ago.
Don't forget that if people can't remember anything from the time it was taken out then there is little chance of a 'big payout', it's not taken as gospel that PPI was sold/missold without some information to support the Complaints.Mortgage started 2020, aiming to clear it in 2026.0 -
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I've just had a letter from Nationwide confirming receipt of my complaint, and stating that I have had PPI. However, I don't believe it. I suspect it's a standard boilerplate letter sent out to all complainants. Still not expecting anything.Fingerbobs wrote: »Confession: I don't believe I've ever even had PPI, but I've put in a speculative claim to Nationwide just in case they sold me a policy with my long-cleared mortgage 20 years ago. Not expecting anything, but I was a lot less financially-savvy back then so who knows.0 -
Fingerbobs wrote: »I suspect it's a standard boilerplate letter sent out to all complainants.
It's not. .0 -
Fingerbobs wrote: »I've just had a letter from Nationwide confirming receipt of my complaint, and stating that I have had PPI. However, I don't believe it. I suspect it's a standard boilerplate letter sent out to all complainants. Still not expecting anything.
To be blunt, it doesn't matter what you think, there is no evidence to support your views based on the number of Nationwide cases that result in redress. I assume the bit I have highlighted was a typo.0 -
Yes it is. Having read the letter again, I'm certain it's a standard letter. It consists of two pages of very general information covering the possibility that I raised the complaint myself or that they raised the complaint on my behalf, and is not personalised to my case in any way, aside from the reference number at the top.Deleted_User wrote: »It's not. .0 -
Sorry, I'm lost. What "views" are you referring to speficically? I don't recall expressing any views.To be blunt, it doesn't matter what you think, there is no evidence to support your views based on the number of Nationwide cases that result in redress. I assume the bit I have highlighted was a typo.
There is no typo.0 -
Sorry, I'm lost. What "views" are you referring to speficically? I don't recall expressing any views.
What do you call this then? "I suspect it's a standard boilerplate letter sent out to all complainants."
The response letters certainly use templates but they select the template to use based on the outcome. The templates will include a lot of generic information at this stage but it is not the same one that is sent to everyone. i.e. if you didnt have PPI then they would have a version for those without PPI. And a version for those where they cannot tell if they had PPI or not yet.There is no typo.
You said "I've just had a letter from Nationwide confirming receipt of my complaint, and stating that I have had PPI. However, I don't believe it. "
If there is no typo in there, then why don't you believe it when they say you had PPI?
Its certainly possible to have PPI and never pay a premium. (e.g. credit card when balances paid in full each month or if you had the one year of free cover on the MPPI but never took up the paid version after that - that is classed as having PPI despite not actually paying a premium). Maybe that is the case here?0
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