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PPI claim company

Discussion in 'off topic' started by Gerard124, Feb 12, 2019 at 6:41 AM.

  1. Gerard124

    Gerard124 pfm Member

    Has anyone successfully used a ppi claim company with good result and fair fees? Never got round to this and deadline is this year. I don"t have time to do myself.
     
  2. Bob McC

    Bob McC Living the life of Riley

    I got a free trial of Which magazine.
    They have a proforma that took seconds to fill in and send off.
    Sadly I didn’t have any PPI to claim back they found out.
     
  3. Mongeddavid

    Mongeddavid pfm Member

    I used moneyback ppi Still a air few forms to fill in but well worth it if you dont have the time or skill to do it yourself . I paid 10 percent of the full claim back amount to them.
     
  4. Mike Reed

    Mike Reed pfm Member

    I know I've never had p.p.i., but a decade ago I was 'sold' a Barclays Bank package current account with holiday insurance and one or two perks for a (£10?) monthly fee. However, when I cancelled this after a year or so, I found that my very worthwhile prviledge of being a 'platinum' customer had ceased when I took out the package, unbeknown to me. I only found out when sending a CHAPS payment (previously free) and they tried to charge me.

    I've long felt annoyed by that, losing a free but valuable resource for a paid account of (to me as it turned out) limited value. Obviously, Barclays refused/weren't able to do anything at the time . Wonder if this kind of situation comes within the umbrella of p.p.i. or similar.
     
  5. billo

    billo pfm Member

    Don't you have to submit the same info to the P.P.I. company as you would have to to the bank/ finance institute? So it's the same amount of work but you end up with 10% or so less in your pocket?
     
    ToTo Man likes this.
  6. wow&flutter

    wow&flutter pfm Member

    lazycat likes this.
  7. The Far North

    The Far North pfm Member

    Might be worth reading this Which? article. https://www.which.co.uk/consumer-ri...f-youve-been-mis-sold-a-packaged-bank-account
     
    Mike Reed likes this.
  8. Rodrat

    Rodrat pfm Member

    My wife and I went through a PPI claims company because we couldn’t be arsed to do it ourselves. TBH we didn’t think we had any and that turned out to be true. They were quite efficient though.
     
  9. MikeMA

    MikeMA pfm Member

    But have you considered the possibility that you might have had it without realising, and that the claims company was inefficient and couldn't find it? :)
     
  10. Sue Pertwee-Tyr

    Sue Pertwee-Tyr pfm Member

    PPI claim companies ask you for details of the banks you've dealt with, and loans you've had, and they write to those banks asking for details of the accounts you held and if any PPI was taken out. They are using your rights under data protection legislation to get the information. You can quite easily do it yourself, so you have to ask if the fee they extract from any compensation is worth the hassle they spare you.
     
  11. lazycat

    lazycat pfm Member

    I did it thru my bank - Lloyds. Didn't use a company. 8 weeks later got a tidy sum from loans I had 25-30 yrs ago.

    Thanks Lloyds, for upgrading my system and buying me lots of music.
     
  12. Rodrat

    Rodrat pfm Member

    No it was one thing we avoided as the cover was a bit dubious for anyone self employed.
     
  13. formbypc

    formbypc pfm Member

    I did this myself. I gathered SOME of my credit card statements (all that I had left, covering maybe 4 or 5 mths where the PPI was shown on the statement), and drafted a letter to my bank, posting copy statements with it.

    They sent me a form. I answered the questions on the form truthfully.

    A few weeks later, a cheque arrived in the post. A few months after that, unprompted by an further action from me, the bank wrote to inform me they'd changed their method of assessment, decided I was due more money, and enclosed another cheque. Both cheque amounts exceeded my expectations

    Is your day REALLY too busy for one letter and one form, if you have something to show you actually paid for the PPI?
     
  14. puddlesplasher

    puddlesplasher pfm Member

    I had a mortgage in the 1980's with my girlfriend at the time,now wife, and we had to have some cover but not sure if it was called ppi then. Does anyone know if this is the same thing.
     
  15. h.g.

    h.g. pfm Member

    It was difficult to avoid in the 80s. The Halifax asked me to pay it when I took out a mortgage with them and I refused when I worked out what it was. After some consultation with head office they came back and said everyone had to pay it and so I took out my mortgage with RBS (or was it the other one?) where it was optional.
     
  16. Cav

    Cav pfm Member

    More like 30%...
     
  17. docstocker

    docstocker pfm Member

    Yes. We have used one. Recommended by a friend. I have never willingly accepted PPI as have been self employed early all my working life and always had income protection and ill health insurance.
    Did not see the point of spending time on it. Racked our brains to think where we might have borrowed money or services in our married life. Didn't give them much except names and approximate times.
    To our/my surprise, we had been sold PPI on several occasions. We received about £15,000 back in all. We did not gripe about the 30% we didn't get back because we were convinced we had never had PPI and would never have gone through the writing of letters to institutions many of which had amalgamated etc. I feel that this would actually have been a significant amount of work which I don't believe we would have pursued to conclusion.
    Was worth it to us, perhaps not to others.
     

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