PPI Claim...

tptvmbircn
tptvmbircn Posts: 782
edited January 2011 in Commuting chat
...it really does work and being almost completely debt free i'm looking into a new garmin edge with the training kit HR, Cadence etc and a set of oakleys!

anyone else done their PPI? if you havent you should at least try!

Comments

  • davmaggs
    davmaggs Posts: 1,008
    I'm not sure if your post was a celebration or some advertising trolling, and this is going to sound harsh.

    Are you mad!!!

    You willingly bought insurance because you were running up debts and now through sheer luck of the law you have a refund, and now you propose to go out spending when still in debt.

    Anyone who bought PPI was a financial idiot and the purchase of PPI is the proof. It shows that the purchaser can't manage their finances or read simple forms.

    </harsh>

    Sorry OP. The blast is aimed at the swelling masses that increasingly blame all others (like the banks for lending them money) rather than taking personal responsibily.
  • Gazzaputt
    Gazzaputt Posts: 3,227
    davmaggs wrote:
    I'm not sure if your post was a celebration or some advertising trolling, and this is going to sound harsh.

    Are you mad!!!

    You willingly bought insurance because you were running up debts and now through sheer luck of the law you have a refund, and now you propose to go out spending when still in debt.

    Anyone who bought PPI was a financial idiot and the purchase of PPI is the proof. It shows that the purchaser can't manage their finances or read simple forms.

    </harsh>

    Sorry OP. The blast is aimed at the swelling masses that increasingly blame all others (like the banks for lending them money) rather than taking personal responsibily.

    Err you get the refund as you were missold or didn't ask for the insurance.

    I had a personal loan where PPI had been added without my knowledge. There for I didn't ask to buy it therefore I'm entitled to that money back.
  • davmaggs
    davmaggs Posts: 1,008
    It was naughty that financial firms added PPI, and I won't defend them for that.

    Tha being said how many of the claims come from people that never bothered to read the paperwork that they were signing, or check their monthly statements to see the charges?
  • tptvmbircn
    tptvmbircn Posts: 782
    davmaggs wrote:
    I'm not sure if your post was a celebration or some advertising trolling, and this is going to sound harsh.

    Are you mad!!!

    No celebration well in a sense as its my partners loan who I financially support, definetly not an advertisment in that sense see below...
    Gazzaputt wrote:
    Err you get the refund as you were missold or didn't ask for the insurance.

    I had a personal loan where PPI had been added without my knowledge. There for I didn't ask to buy it therefore I'm entitled to that money back.

    Bingo, not and advertisment but an ex-employee from a bank (not in personal loans however) if they have your money under illegal pretences get it back! the cost of filling out a form and a stamp its not that bad
    davmaggs wrote:
    It was naughty that financial firms added PPI, and I won't defend them for that.

    Tha being said how many of the claims come from people that never bothered to read the paperwork that they were signing, or check their monthly statements to see the charges?

    exactly, not stereo typing anybody but i guess its a lesson to be learn't for some
  • sketchley
    sketchley Posts: 4,238
    davmaggs wrote:
    It was naughty that financial firms added PPI, and I won't defend them for that.

    Tha being said how many of the claims come from people that never bothered to read the paperwork that they were signing, or check their monthly statements to see the charges?

    How many of the claims come from people who read the paperwork agreed with it at the time thinking it was a good idea, never claimed on the policy, then several years later claim they where "miss sold" and get the money back.

    In a simular way I've got an under performing endowment policy from 1998, I knew at the time exactly what I was buying and what it meant. Should I claim I was miss sold (even though I know I wasn't). I know the financial advisor in question has retired and it would be my word against his company. I'd probally win but it wouldn't sit right with me. However I have no doubt that many people in simular circumstance would and have claimed.
    --
    Chris

    Genesis Equilibrium - FCN 3/4/5
  • pastryboy
    pastryboy Posts: 1,385
    Lucky you got it when you did. The British Bankers Association is taking the FSA and FOS to court over it at the moment to try and stop the refunds.
  • tptvmbircn
    tptvmbircn Posts: 782
    pastryboy wrote:
    Lucky you got it when you did. The British Bankers Association is taking the FSA and FOS to court over it at the moment to try and stop the refunds.

    That I did'nt know, don't really keep up with it all now so it's a good job it's sorted like you say

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