Has anybody claimed directly with their bank and been successful? i recently got a claim form from my bank, they said i had paid approx £900 on a £5000 loan in 2006, just got an offer of £2100, which i might just take. but why would they offer me much more than i paid?
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PPI Claims
- Thread starter Goodfella
- Start date
Superphil
Dismember
Got mine back from Northern Rock. I guess they offer more as it is compensation for the fact they ripped you off in the first place, as well as interest.
- Thread starter
- #3
seagullsovergrimsby
#cpfctinpotclub
They have to reimburse you with interest on the payments that were made plus the compensation for mis-selling. If you had gone through an intermediary they could quite easily tell you the claim will only pay out £1200 after they skim £900 off the top without telling you the initial amount.
- Thread starter
- #6
sorry but i take that as an insult, at the time i was told that because i didnt have my own house, and was renting then the PPI was absolutely neccessary, so i was MISS SOLD it, to call people stupid is plain ignorance.
Beach Hut
Brighton Bhuna Boy
Never required a loan
- Thread starter
- #8
Agree, that's why i decided to do it myself, and glad i did hehe.
Pinkie Brown
Wir Sind das Volk
If they are offering way over the odds from what you originally paid, I wouldn't question it, but quietly accept it.
I claimed for a mis sold endowment policy years ago. I was originally told to 'go away'. I pursued it & was generally a pain in the arse to the Ombusman & Building Society concerned. They eventually saw the error of their ways & coughed up after a 'case review' as they called it.
If anyone gets told they have no case first time, don't give up.
SK1NT
Well-known member
I was told the same and my 20 k loan over 5 years would have been £500 a month instead of £400... f*** that.. i told em where do go...£100 a month insurance cover... what a joke...
btw £2100 take it and enjoy...
BensGrandad
New member
I normally just put the phone down when a company phones about PPI but think perhaps I should look into doing this myself.
Northstander
Well-known member
- Oct 13, 2003
- 14,028
I did, quick easy and £2.5K better off
SK1NT
Well-known member
Half an hr for a few thousand... thats over a months work in 30mins... well worth investigating... Just call the bank and ask if you took out PPi and they will say yes or no in a few mins.
- Thread starter
- #16
If you have taken out insurance on a loan or credit card in the last 5 years then i definitely would do it, but do it yourself.
The point is you actually didn't need the PPI, if you had insisted on not taking it there's not a lot they could have done except bluster. Not ignorance, just intelligent enough to fall for their BS.
Superphil
Dismember
Thank you for your insight, in what way is it stupid to take out PPI, if you want the security of being insured? Do you have a mortgage? You have no choice there, you have to have some sort of cover? It is, however, optional on a loan, giving the customer the choice. This is about being miss-sold PPI, which is what happened to us. In our instance we told Northern Rock to remove it from their quote, they refused, saying it was part of their package and could not be removed. As it happened, they were still more competetive than other lenders, so we continued with the loan. I guess it is heavy handed tactics like this that the banks employed, that has backfired on them and now they are having to pay out large sums in compensation.
Vegas Seagull
New member
- Jul 10, 2009
- 7,782
Poor call, you'd be a richer man now if you HAD taken out a mortgage in the past