PPI claim - worth the effort?
#1
BE Enthusiast
Thread Starter
Joined: Jun 2012
Location: NSW, Australia
Posts: 450
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
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
Re: 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 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
Re: PPI claim - worth the effort?
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: 309
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
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: 450
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.
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
Re: PPI claim - worth the effort?
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
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/
This is also a good guide - you can find free PPI reclaiming tools
https://www.moneysavingexpert.com/reclaim/ppi-loan-insurance/
#8
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.
#9
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/
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. 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.
#10
Just Joined
Joined: May 2019
Posts: 2
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
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