PPI claim - worth the effort?
#1
BE Enthusiast




Thread Starter
Joined: Jun 2012
Location: NSW, Australia
Posts: 437












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
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

#2

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
/
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
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.

#3

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.
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.

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

#4
BE Enthusiast




Joined: Apr 2008
Location: Wherever I drive to after work each evening I guess
Posts: 308












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
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

#5
BE Enthusiast




Thread Starter
Joined: Jun 2012
Location: NSW, Australia
Posts: 437












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.
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.

#6
Victorian Evangelist










Joined: Sep 2005
Location: Melbourne, by the beach, living the dream.
Posts: 7,704












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

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

#7

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

#8

I had a go at a claim on scouse's behalf while in the UK, no dice. Too long ago, not enough evidence.

#9

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


#10
Just Joined
Joined: May 2019
Posts: 2


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
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
