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  • FIRST POST
    • NHS worker
    • By NHS worker 11th Apr 18, 7:01 PM
    • 3Posts
    • 0Thanks
    NHS worker
    NHS worker
    • #1
    • 11th Apr 18, 7:01 PM
    NHS worker 11th Apr 18 at 7:01 PM
    I have been informed that I am due just over 1700 PPI compensation but need to pay 1000 in fees unless I take out life insurance then I can keep the entire compensation of 1700 is this legitimate? I have signed up to life assurance for 10 a month which was the minimum amount I could pay with the intention of cancelling the policy when the money is in the bank. Has anyone else been asked to do this to avoid paying fees? Thank you.
Page 1
    • zx81
    • By zx81 11th Apr 18, 7:05 PM
    • 17,216 Posts
    • 18,295 Thanks
    zx81
    • #2
    • 11th Apr 18, 7:05 PM
    • #2
    • 11th Apr 18, 7:05 PM
    Who has told you this?

    What product is the PPI on and who did you buy it through?
    • Nasqueron
    • By Nasqueron 11th Apr 18, 7:41 PM
    • 4,719 Posts
    • 2,809 Thanks
    Nasqueron
    • #3
    • 11th Apr 18, 7:41 PM
    • #3
    • 11th Apr 18, 7:41 PM
    Sounds very much like a scam, pay 1000 to get 1700? Or pay 1000 and the scammer vanishes. Ring the bank or whoever supposedly owes this money and ask them direct
    • NHS worker
    • By NHS worker 11th Apr 18, 10:35 PM
    • 3 Posts
    • 0 Thanks
    NHS worker
    • #4
    • 11th Apr 18, 10:35 PM
    • #4
    • 11th Apr 18, 10:35 PM
    A Nationwide mortgage, the PPI company said the money will be in my band within a couple of weeks, if I take out life insurance I can avoid paying the fee for recovering the money.
    • Moneyineptitude
    • By Moneyineptitude 11th Apr 18, 11:14 PM
    • 20,389 Posts
    • 11,296 Thanks
    Moneyineptitude
    • #5
    • 11th Apr 18, 11:14 PM
    • #5
    • 11th Apr 18, 11:14 PM
    I have signed up to life assurance for 10 a month which was the minimum amount I could pay with the intention of cancelling the policy when the money is in the bank
    Originally posted by NHS worker
    So you've bought life insurance on the "understanding" that you won't now pay fees on a PPI complaint? PPI complaints are free anyway. No one is forced to pay a Claims Company in order to recover mis-sold PPI.

    You've been had mate.
    • amersall
    • By amersall 12th Apr 18, 7:25 AM
    • 15,259 Posts
    • 18,860 Thanks
    amersall
    • #6
    • 12th Apr 18, 7:25 AM
    • #6
    • 12th Apr 18, 7:25 AM
    Well and truly had

    • Browntoa
    • By Browntoa 12th Apr 18, 7:28 AM
    • 33,191 Posts
    • 39,111 Thanks
    Browntoa
    • #7
    • 12th Apr 18, 7:28 AM
    • #7
    • 12th Apr 18, 7:28 AM
    Comes back in a few years to ask "can I claim back for life insurance I was missold to get my PPI"

    Let's have the name of this claims company
    I'm the Board Guide of the Referrers ,Telephones, Pensions , Shop Don't drop ,over 50's and Discount Code boards which means I volunteer to help get your forum questions answered and keep the forum runnning smoothly .However, please remember, board guides don't read every post. If you spot an inappropriate or illegal post please report it to forumteam@moneysavingexpert.com Any views are mine and not the official line of MoneySavingExpert.
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