Archive for the ‘PPI’ Category
Payment Protection Claims (PPI thing)
A lot of firms are trying to get you to pay them money for getting your PPI payments back.
Often they may even phone you saying our records show you got a loan out. Well think about it, probably most people you know have had a loan or credit card, so I suspect they do not have your credit information.
Now let me make this clear. Banks are now paying the money back. The government (or whatever body it is) has told banks to do this. Also I believe they have to do the bulk over the next two years.
So I personally would not pay a firm anything that will happen for free.
My friend works for a bank and they are this week training staff to look through all files to look at who to re-pay. So you may find you get a check without ever contacted a bank. You may not even know your are entitled to a refund.
My advice is make a list of all credit cards and loans of any sort you have ever had. If possible see if you can find your statements to see if it says you were paying ppi.
Even if you made a claim on payment protection, it does not mean you were not mis-sold it. You may still be entitled to a refund (probably minus any payments that have been made on your claim).
It may be worth contacting these people you took loans from to ask for your money, but from what I gather they will be looking at everyone’s files anyway. But probably a good idea to get advice on this. I certainly would think about contacting them if you feel you have a possibility of a claim and not heard anything for two years (as in say 2014).
But think twice before you let these firms take your case. They (from what I gather) will charge you a fee. Its why so many firms are doing this.
There are some good links about this too on the net, such as this LINK.
From what I gather many people had PPI added without knowing, by someone simply clicking a box as they applied, as they got commission for doing so.
My friend has told me the bank is planning to send payments with a note saying that they take no responsibility for the mis-selling. Its a bit of a cheek as if they are not responsible, who is. It had gone on for years, so surly someone in the bank knew what was going on.
But please warn people before they agree to these firms.
I have had two calls a day on my mobile from firms. They know my name and its a new phone so I presume my mobile phone firms is selling my details, which I am not at all happy about. In fact my advice is when you next buy a phone, ask them if your details will be sold and ask if its in the contract, as you do not want your details sold on.