PPI mis-selling

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Comments

  • Bryn_Mawr003
    Bryn_Mawr003 Posts: 26
    pinarello001 wrote:
    I was backed into a corner. They (Lloyd's), basically said that they were going to rescind the overdraft and expect me to pay it back in full unless I converted into a loan*. So I took out the PPI 'just in case'. In fact Lloyds were so sh!tty with me after graduating, I say f*ck 'em and take every penny they got. Since changing accounts to the Bank Of Scotland, they have been really good to me and never tried the hard sell.
    *The only loan I have ever had.
    @ TW - I would, the banks have set aside millions.

    You are still in the evil hands of Lloyds though. Bank Of Scotland has been part of Lloyds since the demise of HBOS. Your Bank of Scotland account probably now lives on and is processed by Lloyds systems.
  • Pross
    Pross Posts: 40,589
    Colinthecop wrote:
    Pross wrote:

    Are you deliberately being thick and not reading everything?


    So someone questions why you shelled out money and signed for something you neither wanted or needed and you're calling him thick....?

    I get the irony. Hopefully you will too. :roll:

    I had a cold caller recently who could not believe I had never taken out loan insurance. I told him it was a case of doing your research and knowing what you were signing. In my opinion the whole compensation issue has turned into a scam. I know of people who willingly signed up for the insurance and have claimed it back, it would seem the banks are happy to pay-up regardless.

    So, if you were 18 years old and taking out a credit card from a respected national bank (back in the days before they were embroiled in scandal) and they told you you had to have PPI you would have questioned it? That's at the better end of some of their tricks as well - I had one store card where you could clearly see on the copy of the application form I obtained that they had ticked the box for PPI themselves.

    Maybe you have lots of time to spare to research these sorts of things in work as you fob off all those 'time wasters' who want to report traffic accidents that involved personal injury. Alternatively, maybe you consider fraud with the same kind of cavalier attitude you apply to victims of RTAs?
  • Colinthecop
    Colinthecop Posts: 996
    Of course I would have questioned it.... Why is it added...? Why is it costing me more money...? Can you untick the box or I walk out the door and find another bank. Especially as this was a time when banks were falling over themselves to give you money.

    I guess you're just gullible, which I suppose makes you a victim of sorts. :roll:. Maybe next time, ask your mum to go with you. :lol:
  • Pross
    Pross Posts: 40,589
    Colinthecop wrote:
    Of course I would have questioned it.... Why is it added...? Why is it costing me more money...? Can you untick the box or I walk out the door and find another bank. Especially as this was a time when banks were falling over themselves to give you money.

    I guess you're just gullible, which I suppose makes you a victim of sorts. :roll:. Maybe next time, ask your mum to go with you. :lol:

    OK, if you say so. So it's just your job you prefer taking the easy option then :lol:
  • Colinthecop
    Colinthecop Posts: 996
    Look, you need to get over the fact you were also made to look stupid in the accident thread.

    It's not the 'easy' way, it's the 'correct' way.

    Again, I can explain it to you but I can't understand it for you. You need to do that yourself. :roll:
  • Pross
    Pross Posts: 40,589
    No, it's not the correct way. If there is an accident and someone is injured the parties MUST provide their insurance documents either at the scene or at a police station. Exchanging details isn't the same thing as providing documents. People advised the person in that thread that this was the case but you didn't want them doing their legal duty for fear of it wasting time. You must have thought Hamish McBeth was a recruiting video and didn't realise you'd actually have to do some work or maybe you take your lead from Police Federation examples :lol:
  • Colinthecop
    Colinthecop Posts: 996
    *sigh*

    Really....? They MUST produce their documents must they...? Me personally, I've not been issued an insurance certificate for years, I'd assume others are the same. I deal with accidents on a very regular basis. I've not seen a certificate or required one to be produced for years. It's all done by computers nowadays you know. We're paperless. That doesn't make us law breakers. :wink:

    What's your experience in this field...?

    Or is it a case of,
    Mikey23 wrote:
    It astonishes me how whenever anyone does an 'I've been involved in an accident' post, everyone becomes a barrack room lawyer and we end up with another pool of collective ignorance...


    :roll:
  • Pross
    Pross Posts: 40,589
    Colinthecop wrote:
    *sigh*

    Really....? They MUST produce their documents must they...? Me personally, I've not been issued an insurance certificate for years, I'd assume others are the same. I deal with accidents on a very regular basis. I've not seen a certificate or required one to be produced for years. It's all done by computers nowadays you know. We're paperless. That doesn't make us law breakers. :wink:

    What's your experience in this field...?

    Or is it a case of,
    Mikey23 wrote:
    It astonishes me how whenever anyone does an 'I've been involved in an accident' post, everyone becomes a barrack room lawyer and we end up with another pool of collective ignorance...


    :roll:

    So, you disagree fundamentally with Norfolk Police (as an easy reference)

    http://www.norfolk.police.uk/safetyadvice/roadsafety/advicetoroadusers/roadtrafficcollisions.aspx

    but if that isn't enough then maybe 'the law' itself can help

    http://www.legislation.gov.uk/ukpga/1988/52/part/VII/crossheading/duties-in-case-of-accident

    A certificate is still theoretically required under the Act (although it does allow for 'other evidence' already). The DfT were consulting on a change to remove this requirement at the start of the year but I believe the earliest that is likely to happen is 2015. I can only assume the law is different in Scotland if you didn't already know this or if you feel the above is wrong maybe you can correct Norfolk Police and the Government (perhaps after you have explained to the FSA that they were wrong in deciding that PPI was mis-sold).
  • slowbike
    slowbike Posts: 8,498
    Look you 2 - don't argue ...

    With PPI it's quite simple - banks & the like tried and managed to get ppl to buy PPI through not telling them it was an option. Many of us questioned it at the time of application and were in a position to either not buy it or go elsewhere - but (it seems) many did buy it - whether it was through selling pressure, ignorance or in full knowledge it doesn't matter as it's been decided that it was inappropriate so ppl are getting refunds and compensation now ...

    Banks have gone from the local bank who you could trust to advise you suitably on your finances to a large faceless corporate enterprise interested in making as much money as possible. We demand more from our banks for less, they've got to pay for that somehow and inevitably that will cost us - the customer ... and of course, we can't trust them to be objective with their offerings - any more than we can trust 'Honest John' our local second hand car salesman!

    So - who loses out - well, those of us who didn't buy it to start with apparently ... !
  • daviesee
    daviesee Posts: 6,386
    Slowbike wrote:
    So - who loses out - well, those of us who didn't buy it to start with apparently ... !
    How do you figure that one out?
    None of the above should be taken seriously, and certainly not personally.
  • Colinthecop
    Colinthecop Posts: 996
    'Cos I didn't buy it as I read the small print and neither wanted it or needed it.

    And now I have no spare bank funded lump sum to spunk on a sexy new Spesh Venge....

    I'm just a bit pissed I cashed in my endowments 20 years ago when the writing was on the wall. I wish I hung onto them and then complained and got compensation as they didn't do as well as projected. :?
  • arran77
    arran77 Posts: 9,260
    Colinthecop wrote:
    'Cos I didn't buy it as I read the small print and neither wanted it or needed it.

    And now I have no spare bank funded lump sum to spunk on a sexy new Spesh Venge....

    I'm just a bit pissed I cashed in my endowments 20 years ago when the writing was on the wall. I wish I hung onto them and then complained and got compensation as they didn't do as well as projected. :?

    So did you save the money you would have spent on PPI? No, then it's only you to blame then isn't it for not having the funds for a Venge :P
    "Arran, you are like the Tony Benn of smut. You have never diluted your depravity and always stand by your beliefs. You have my respect sir and your wife my pity" :lol:

    seanoconn
  • daviesee
    daviesee Posts: 6,386
    arran77 wrote:
    Colinthecop wrote:
    'Cos I didn't buy it as I read the small print and neither wanted it or needed it.

    And now I have no spare bank funded lump sum to spunk on a sexy new Spesh Venge....

    I'm just a bit pissed I cashed in my endowments 20 years ago when the writing was on the wall. I wish I hung onto them and then complained and got compensation as they didn't do as well as projected. :?

    So did you save the money you would have spent on PPI? No, then it's only you to blame then isn't it for not having the funds for a Venge :P
    ^^^^ THIS ^^^^
    The only difference is that you have spent the money already that you would now be collecting.
    You have lost out on nothing, except the hassle of paying it then having to claim it back.

    And from experience of the wife going through the endowment thing, you would have got compo for that. Not the full amount, but something. But as you cashed in early you probably saved more than you would have got back.
    None of the above should be taken seriously, and certainly not personally.
  • Colinthecop
    Colinthecop Posts: 996
    arran77 wrote:
    So did you save the money you would have spent on PPI? No, then it's only you to blame then isn't it for not having the funds for a Venge :P

    No, I was young, it was the 80's, I lived in London, I spent it on drugs and 5am kebabs outside the Hammersmith Palais...

    :oops:
  • daviesee
    daviesee Posts: 6,386
    Colinthecop wrote:
    arran77 wrote:
    So did you save the money you would have spent on PPI? No, then it's only you to blame then isn't it for not having the funds for a Venge :P

    No, I was young, it was the 80's, I lived in London, I spent it on drugs and 5am kebabs outside the Hammersmith Palais...

    :oops:
    Not wasted then. :P
    None of the above should be taken seriously, and certainly not personally.
  • arran77
    arran77 Posts: 9,260
    Colinthecop wrote:
    arran77 wrote:
    So did you save the money you would have spent on PPI? No, then it's only you to blame then isn't it for not having the funds for a Venge :P

    No, I was young, it was the 80's, I lived in London, I spent it on drugs and 5am kebabs outside the Hammersmith Palais...

    :oops:

    Well there you go then, you've not lost out on anything :lol:
    "Arran, you are like the Tony Benn of smut. You have never diluted your depravity and always stand by your beliefs. You have my respect sir and your wife my pity" :lol:

    seanoconn
  • Daz555
    Daz555 Posts: 3,976
    pinarello001 wrote:
    I was backed into a corner. They (Lloyd's), basically said that they were going to rescind the overdraft and expect me to pay it back in full unless I converted into a loan*. So I took out the PPI 'just in case'. In fact Lloyds were so sh!tty with me after graduating, I say f*ck 'em and take every penny they got. Since changing accounts to the Bank Of Scotland, they have been really good to me and never tried the hard sell.
    *The only loan I have ever had.
    @ TW - I would, the banks have set aside millions.
    BOS? All part of Lloyds Banking Group. Same call centres, same offices, same execs, same IT systems, same policies, same attitude to customers.

    Lloyds Bank, TSB(for now), Halifax, Bank Of Scotland, Scottish Widows, Clerical Medical, Birmingham Midshires, Cheltenham & Gloucester, IF, Lex, Sainsburys Bank and probably a few more.
    You only need two tools: WD40 and Duck Tape.
    If it doesn't move and should, use the WD40.
    If it shouldn't move and does, use the tape.
  • Daz555
    Daz555 Posts: 3,976
    daviesee wrote:
    Slowbike wrote:
    So - who loses out - well, those of us who didn't buy it to start with apparently ... !
    How do you figure that one out?
    I guess the point is that the PPI claim money is not just coming out of thin air. It comes out of the pockets of staff, existing customers and shareholders.

    The execs who were around to oversee the days of PPI mis-selling are long gone of course with their bonuses long since pocketed.
    You only need two tools: WD40 and Duck Tape.
    If it doesn't move and should, use the WD40.
    If it shouldn't move and does, use the tape.
  • daviesee
    daviesee Posts: 6,386
    Daz555 wrote:
    daviesee wrote:
    Slowbike wrote:
    So - who loses out - well, those of us who didn't buy it to start with apparently ... !
    How do you figure that one out?
    I guess the point is that the PPI claim money is not just coming out of thin air. It comes out of the pockets of staff, existing customers and shareholders.

    The execs who were around to oversee the days of PPI mis-selling are long gone of course with their bonuses long since pocketed.
    Fair point.
    But I would rather that it was re-distributed to those conned.
    It would appear that there are good times, and there are bad times, but bankers never seem to suffer the bad times.*

    *Front line workers are not what I call bankers.
    None of the above should be taken seriously, and certainly not personally.
  • team47b
    team47b Posts: 6,425
    Not being party to the UK financial services crew I thought PPI was something you got from Public swimming pools :shock:
    my isetta is a 300cc bike
  • arran77
    arran77 Posts: 9,260
    team47b wrote:
    Not being party to the UK financial services crew I thought PPI was something you got from Public swimming pools :shock:

    I think they put something in the water now to stop that happening when the kids take a p!ss :wink:
    "Arran, you are like the Tony Benn of smut. You have never diluted your depravity and always stand by your beliefs. You have my respect sir and your wife my pity" :lol:

    seanoconn

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