PPI will it ever reach an end date.

SteveL
SteveL Club Member Posts: 12,367
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edited April 2018 in General Chat #1

Probably due to the number of folks who have call screening and the fact there are so many restrictions on cold calling, plus emails get sent to spam, they now seem to have resorted to snail mail.

This week I have received two PPI claims forms through the post, already partially filled in with name and address. 😡 This means I can't just throw them straight into recycling but have to put them for shredding. Hopefully one day they will stop extending the deadline.🤞 There is also the issue that some elderly folk will be totally confused by them, if they have no one to ask. Particularly as the envelopes have urgent do not ignore plastered all over them.

Comments

  • Unknown
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    edited April 2018 #2
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  • redface
    redface Forum Participant Posts: 1,701
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    edited April 2018 #3

    Bearing in mind that these claims have been made for many years now I doubt that the banks are quids in.

    It is just a last frantic attempt by the ambulance chasers to get the business before the deadline

  • SteveL
    SteveL Club Member Posts: 12,367
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    edited April 2018 #4

    They will only wriggle out of it if folk don't apply. I can say with 100% certainty I have never taken any out, but over the last few years must have received several hundred requests by email, phone and now post to fill in a claim form. They keep stating they can check if you are not sure if you ever had any, so no reason for anyone who is uncertain not to have a go.

    So if I had taken any out, or wasn't sure, I would only have myself to blame for not claiming. I can't believe anyone still does not know about it.

  • Unknown
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    edited April 2018 #5
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  • Fisherman
    Fisherman Forum Participant Posts: 2,370
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    edited April 2018 #6

    Was never sold one and  dont know anyone in my immediate circle that was. Looking at the amounts paid out could the financial providers have sold so much?

  • brue
    brue Forum Participant Posts: 21,176
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    edited April 2018 #7

    The money is being  returned with high interest rates, mis selling insurance was being done on a huge scale.

  • Merve
    Merve Forum Participant Posts: 2,333
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    edited April 2018 #8

    When you see these claim firms wanting 35% of the claim, it’s a bit of a smack in the teeth! That is probably putting people off claiming- what’s the point? 

  • SteveL
    SteveL Club Member Posts: 12,367
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    edited April 2018 #9

    Looking on the web the average for payouts seems to range between £2700 to £3300, depending on the source. So if you did not want to chase it yourself, even at. 35% commission you would end up with £1700 +. I would think that point enough.😀

  • brue
    brue Forum Participant Posts: 21,176
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    edited April 2018 #10

    It is so easy to do, no one should use a third party and lose more money in the process. Banks etc have their own claim forms that you can use.

  • Unknown
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    edited April 2018 #11
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  • EasyT
    EasyT Forum Participant Posts: 16,194
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    edited April 2018 #12

    Almost sorry that I have never had PPI

  • Oneputt
    Oneputt Club Member Posts: 9,154
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    edited April 2018 #13

    Guess it will come to end on the announced day but then what will the next big misselling item be, life insurance, pensions or anywhere that folk can be conned out of selling.  I remember when life insurance started they said that a funeral bill could cost £7.5k, I see that has been drastically reduced.  Obviously trying to frighten vulnerable people

  • Unknown
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    edited April 2018 #14
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  • Bakers2
    Bakers2 Forum Participant, Forum Participant Trusted Posts: 8,295
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    edited April 2018 #15

    Likewise!

    I know i/we never had it. We only ever had interest free loans when on offer. And I did the division sum before signing the DD agreement. 

    I know a couple of folks who've had a decent sum back but have no recall of having had the added 'extra'.

    In ends in August this year.

  • Unknown
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    edited April 2018 #16
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  • brue
    brue Forum Participant Posts: 21,176
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    edited April 2018 #17

    It ends August 2019, a few pounds here and there on insurance with compounded interest can really add up.

    As DD says, for some of us it was a savings scheme with excellent returns! wink

    But don't use a third party to claim, do it yourself. smile

  • Unknown
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    edited April 2018 #18
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  • Unknown
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    edited April 2018 #19
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  • Bakers2
    Bakers2 Forum Participant, Forum Participant Trusted Posts: 8,295
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    edited April 2018 #20

    embarassed embarassed embarassedYes I know that it's 2019. Just forgotten what year were in 😂😂

  • Unknown
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    edited April 2018 #21
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  • brue
    brue Forum Participant Posts: 21,176
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    edited April 2018 #22

    laughing That is the downside. So basically you can't win.

  • EasyT
    EasyT Forum Participant Posts: 16,194
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    edited April 2018 #23

    Are you sure that you did not ET?

    Yes because although I held a credit card from 1987 it was with my bank and rarely used it. Most months there was zero usage and zero charges and I have never paid bank charges. It was not until several years after my wife's death in 1995 that I started using cards and I took out Credit Cards with Goldfish which became a Barclay's CC and with LLoyds neither of which I had a bank account with. I used to rotate the cards in my wallet and whenever one was not used there were no charges. **

    My OH however did have PPI in the past and I am talking her into submitting a claim. 

     

    ** strangely I do the same now in that I have two credit cards that I rotate month to month and only use my main bank card for purchases where I can get a free 2 year warranty extension

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