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-   -   PPI claim - worth the effort? (https://britishexpats.com/forum/barbie-92/ppi-claim-worth-effort-901039/)

Lucas_Dad Aug 1st 2017 11:58 pm

PPI claim - worth the effort?
 
PPI doesn't seem to be an issue here in Oz, but I still watch some UK TV and the ads pop up for these PPI claim companies. I definitely had PPI on credit cards in the past, but way back in the past. Money is tight at the mo so a little windfall would not be unwelcome.

Anybody have any experience of a PPI claim?
Is it worth the effort?
Can I still make the claim from Oz?
Any recommended companies to handle this for me?

Cheers

rasen78 Aug 2nd 2017 11:20 am

Re: PPI claim - worth the effort?
 

Originally Posted by Lucas_Dad (Post 12307297)
PPI doesn't seem to be an issue here in Oz, but I still watch some UK TV and the ads pop up for these PPI claim companies. I definitely had PPI on credit cards in the past, but way back in the past. Money is tight at the mo so a little windfall would not be unwelcome.
/
Anybody have any experience o/f a PPI claim?
Is it worth the effort?
Can I still make the claim from Oz?
Any recommended companies to handle this for me?

Cheers

I would steer clear of using a company to do it for you as they will inevitably charge you for the privilege.

PPI Info I suggest having a read of this. It has information regarding the eligibility for claims and a template you can use to submit your claim. Deadline is 29/08/2019.

spouse of scouse Aug 2nd 2017 1:01 pm

Re: PPI claim - worth the effort?
 

Originally Posted by rasen78 (Post 12307562)
I would steer clear of using a company to do it for you as they will inevitably charge you for the privilege.

PPI Info I suggest having a read of this. It has information regarding the eligibility for claims and a template you can use to submit your claim. Deadline is 29/08/2019.

Great advice rasen. Apparently the average fee charged by companies is 30% of the total sum recovered, but I've heard stories of charges of up to 60% :blink:

In the spirit of the more the merrier, here's another link OP How to reclaim mis-sold PPI for free

Toe Dipper Aug 3rd 2017 8:53 am

Re: PPI claim - worth the effort?
 
I've done it and received all of my 3 years premiums plus interest with 2 letters being written.
You will need proof of lack of info/mis selling, or none suitability at the time, but well worth the little effort required. The lump sum payment is like an unexpected bonus.
In reality, due to the scandal, it is almost like the banks have to prove that they were right, rather than you to prove they were wrong

TD

Lucas_Dad Aug 8th 2017 9:57 pm

Re: PPI claim - worth the effort?
 
Thanks all for the hints, tips and anecdotes. I had a brief chat with my pension advisor about it and he also said that the companies who handle PPI claims are out to make money and charges can be high.

Think I'll look into handling this myself. I do remember being given the hard sell with my credit cards but it was so long ago now. Maybe as much as 20 years. Struggling even to remember the banks. One was Alliance & Leicester - who don't exist any more? - but the card was run by MBNA I think ... as was another ... doubtful I'll have any documentary evidence of anything. Struggling even to remember the years I had these!

Pension advisor also said that banks are not putting up much of a fight though. Got to be worth a go.

Buzzy--Bee Feb 5th 2019 2:20 am

Re: PPI claim - worth the effort?
 

Originally Posted by spouse of scouse (Post 12307631)
Great advice rasen. Apparently the average fee charged by companies is 30% of the total sum recovered, but I've heard stories of charges of up to 60% :blink:

In the spirit of the more the merrier, here's another link OP How to reclaim mis-sold PPI for free

Thank you very much for this link! My SIL in the UK has been on to me to use some company which charges 40% (I think she gets a little pressie for recommending me!)

Still Game Feb 9th 2019 11:04 am

Re: PPI claim - worth the effort?
 
We carried out the search ourselves. Wasn't too taxing just had to look things out and research the rest. Received thousands back.

This is also a good guide - you can find free PPI reclaiming tools
https://www.moneysavingexpert.com/reclaim/ppi-loan-insurance/

spouse of scouse Feb 9th 2019 12:16 pm

Re: PPI claim - worth the effort?
 
I had a go at a claim on scouse's behalf while in the UK, no dice. Too long ago, not enough evidence.

sharkus May 3rd 2019 6:08 pm

Re: PPI claim - worth the effort?
 

Originally Posted by Still Game (Post 12634639)
We carried out the search ourselves. Wasn't too taxing just had to look things out and research the rest. Received thousands back.

This is also a good guide - you can find free PPI reclaiming tools
https://www.moneysavingexpert.com/reclaim/ppi-loan-insurance/

That MSE link is well worth checking out. I had a loan from Egg that I'd taken out quite a while ago, maybe late 2002 / early 2003. I was fairly sure there was PPI on it but I'd not been told fully what it was, but didn't get very far. I had no paperwork, all I had was a a line from a direct debit that came out of my bank for the loan from 2008. It had a couple of numbers on it that might have been account numbers. I filled out the online forms, gave the only info I had, and waited. I got a few letters, mentioning an Egg card - which I don't recall having, maybe it was something I could have had, but didn't take advance of, or didn't use it - and there was PPI on it, but no premiums had been charged. Hmm, ok, fair enough.
This morning I checked my mail and there were more letters, this time about the Egg *loan*. Ah ha! Long story short, complaint upheld, and a cheque is on its way. :) I'm also trying to find out what the deal is in regards to the 20% tax (I'm a bit out of touch here as I was used to it being 12.5%) and wether I can claim it back as I've been non-resident since 2003 and not worked in the UK since then.

Gloslad May 5th 2019 6:52 am

Re: PPI claim - worth the effort?
 
I have a received an cheque for 14’000 pounds, and am in the process of cashing it (it takes 9 weeks).
i have been told by a friend that I have to declare it in my next tax return to the ATO. That will make about $10’000 in extra tax to pay. Any advice. The interest paid was 9’000 pound


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