Shame, you hear these stories about the power the consumer can wield and all the laws people don't know about and the like. Thought it would be interesting to have a go. Have to just chill me beans and move on.
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'CUK forum personality of 2011 - Winner - Yes really!!!!
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NLUK - so you took out a loan or whatever without realising you were paying for PPI?
Not like you. Perhaps you need an accountant to look after your personal financial affairs too? :-)Rhyddid i lofnod psychocandy!!!!Comment
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I was waiting for something like that lol. It isn't me, it's my partner from days well before me. Was just easier to word as if I was involved. Complex enough as it was.Originally posted by psychocandy View Post'CUK forum personality of 2011 - Winner - Yes really!!!!Comment
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Yeh Yeh. Reckon it was you and you don't want to admit it.... :-)Originally posted by northernladuk View Post
Must admit I've always thought it strange that people can pay thousands in PPI and not even realise they paid for it. Just shows how many people out there who don't read what they sign....
Then, again there are some right dodgy dealers out there. My Mrs used to work for a bank. They did a staff mortgage (which was crap). The in branch guy got a fellow staff member to sign up for staff rate mortgage even though there was a better rate available (to the general public). Nice one, eh? Person was not impressed when they found out.Rhyddid i lofnod psychocandy!!!!Comment
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I don't know about how many people don't realise they are paying. I can see why people take it not realising it isn't mandatory and on top of that don't need it though. Digging in to the details the ex took it out on a car finance but it appears that they stipulated he had to take it to get the finance. On top of that the missus being a teacher means it wouldn't have paid out as the cooling down period is shorter than the pay she would have got for being off sick or something so a bit of a double whammy of fail. Why they didn't do anything about it at the time is a bit strange but I thought it wise not to questionOriginally posted by psychocandy View Post
'CUK forum personality of 2011 - Winner - Yes really!!!!Comment
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its because it was always package sold.. this is the amount you asked for, this is your repayment.. and for this you also get...Originally posted by psychocandy View PostComment
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The fact is that people do not read the docs placed in front of them. They are already "mind shopping" with the money.
And then there are those who are completely incompetent with money.
If you are really unhappy, report the company to Claims management regulation
There are a few good claims firms out there, but most are not very good and some are cowboys. Like everything in this world.
One you get a reply from the bank and you are not happy with the response, go to the Ombudsman
Don't bother with the FSA even though you can contact them as well, but don't hold your breath as you will not get a response from them as a lowly consumer.Comment
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That is not true. Some was, but most had the option to "opt out". It is just that the customer did not feel they could as they were told incorrect information or felt if they did not take it they would not get the money.Originally posted by moggy View Post
Most knew they had it. Most just try it on (this was fueled by the 3rd party claims firms as they had nothing to lose and everything to gain) and rightly so as the protection was very poor and a very big money earner for the banks, with hardly any risks for them to pay out. The small print was very heavily weighted in favour of the banks. That should have been the main complaint point in my opinion. Now that it is an equal playing field you cannot buy this "insurance" anymore ...
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