PPI payouts.... new info for anyone previously refused

[jesta1865]

R8Steve said:

jesta1865 said:

As an aside, I mentioned this to a mate, who has never checked before (i'll let him know about the web portals etc) he was interested, but I know that at one point when his business was in a hole he defaulted on a couple of credit cards (well at least was in a payment plan, my wife and I helped him out). he wondered if that would cause him an issue? Anyone know.

Obviously, I had no idea as I didn't know how easy it was these days.

Thanks all

No, makes no difference.

cool, he's going to think it's an early Xmas present, thanks

[TTmonkey]

Ok, an update from me.....

After 7 years of arguing with Barclays, I've finally received a payout based on the Plevin ruling.
If I had a full PPI payout I'm sure it would have been north of 10k.

I received £3575.10 today, paid direct into my current account. No email, no text, just cash.

Happy, as I'd given up on Barclays.

[ambuletz]

TTmonkey said:

Ok, an update from me.....

After 7 years of arguing with Barclays, I've finally received a payout based on the Plevin ruling.
If I had a full PPI payout I'm sure it would have been north of 10k.

I received £3575.10 today, paid direct into my current account. No email, no text, just cash.

Happy, as I'd given up on Barclays.

what is the product that had the PPI on it? things like mortgages may have a low chance of being awarded, but things like store cards have a high chance. person loans/credit cards can go either way, it depends on the persons circumstances at the time.

[steveo3002]

how far back can this go ? i know i had payemtn protection on my first barclaycard probably getting on for 24-25 years ago , was told too long when ppi claims first came out is it worth another bash?

[ambuletz]

if its free, why not? you've nothing to lose. I've seen people make mortgage/loan PPI complaints with policies as far back as the 80s. although it probably won't be covered under the scope of unfair level of commission.

[Saleen836]

steveo3002 said:

how far back can this go ? i know i had payemtn protection on my first barclaycard probably getting on for 24-25 years ago , was told too long when ppi claims first came out is it worth another bash?

I had a successfull claim from my first mortgage dating back to early 90's earlier this year

[steveo3002]

cheers , might as well fill it out nothing to risk

do you just get the protection paid back or a little earner on top?

[ambuletz]

steveo3002 said:

cheers , might as well fill it out nothing to risk

do you just get the protection paid back or a little earner on top?

PPI, + 8% interest and statutory interest.

[p4cks]

I contacted all of the banks and institutes I was ever a customer of and none of them could find an account. I'm 100% certain I did have accounts with them but I'm being stonewalled.

Ironically I used to work in a well known now-defunct nationalised northern bank's PPI department as a manager and it was nothing short of shambolic from start to finish

[TTmonkey]

ambuletz said:

TTmonkey said:

Ok, an update from me.....

After 7 years of arguing with Barclays, I've finally received a payout based on the Plevin ruling.
If I had a full PPI payout I'm sure it would have been north of 10k.

I received £3575.10 today, paid direct into my current account. No email, no text, just cash.

Happy, as I'd given up on Barclays.

what is the product that had the PPI on it? things like mortgages may have a low chance of being awarded, but things like store cards have a high chance. person loans/credit cards can go either way, it depends on the persons circumstances at the time.

Barclaycard.

[Patch1875]

Finally got round to doing Plevin claims, done online with RBS and they have made an offer unfortunately I don’t know what as I’ve changed address and need to send proof!

Just done similar with Bank Of Scotland so should hear back from them soon.

Hopefully it’s more than the £1.40 my wife got from Egg.

[Patch1875]

TTmonkey said:

Ok, an update from me.....

After 7 years of arguing with Barclays, I've finally received a payout based on the Plevin ruling.
If I had a full PPI payout I'm sure it would have been north of 10k.

I received £3575.10 today, paid direct into my current account. No email, no text, just cash.

Happy, as I'd given up on Barclays.

That’s superb!

[helmutlaang]

I’ve just been paid out on 4 loans and a mortgage which date back to 1991.

Certainly the most profitable hour or so form filling and telephone interviewing I’m ever likely to do!

Around 70% of the total was interest on the original amounts

[TTmonkey]

helmutlaang said:

I’ve just been paid out on 4 loans and a mortgage which date back to 1991.

Certainly the most profitable hour or so form filling and telephone interviewing I’m ever likely to do!

Around 70% of the total was interest on the original amounts

Was this based on my info on this thread...?

And so... how much...?

Cheers. Enjoy.

[overunder12g]

I might be missing something here, but did anyone on this topic ever think at the time, maybe I should look at the detail before signing up?
Seems to be a lot of blame culture going on and something for free.
Take all of this back if you have been sold a pup without full disclosure. Some of it comes across as the ambulance chasing culture.
Awaits flaming from the I am offended team.
Serious question though as I am interested in what the motivation is apart from some free cash. I know, it's no free cash, I was conned etc etc.
I may come across as virtuous but if I got caught, and I may well have been, then I think I am just as much to blame for not understanding what exactly what I was signing up to. Caveat etc.

[TTmonkey]

overunder12g said:

I might be missing something here, but did anyone on this topic ever think at the time, maybe I should look at the detail before signing up?
Seems to be a lot of blame culture going on and something for free.
Take all of this back if you have been sold a pup without full disclosure. Some of it comes across as the ambulance chasing culture.
Awaits flaming from the I am offended team.
Serious question though as I am interested in what the motivation is apart from some free cash. I know, it's no free cash, I was conned etc etc.
I may come across as virtuous but if I got caught, and I may well have been, then I think I am just as much to blame for not understanding what exactly what I was signing up to. Caveat etc.

They never ever disclosed that they were making in excess of 65% commission on every PPI payment made in any of their paperwork.

Think about that for a minute. They sell something once, and yet take a lions share of what you pay for 'insurance' every month for themselves.

Barclays couldn't even quote me the percentage they kept, but admitted it was in excess of 67% of all payments made.

[overunder12g]

"But admitted it was 67% of payments made?" Before or after agreement?

[Efbe]

TTmonkey said:

overunder12g said:

I might be missing something here, but did anyone on this topic ever think at the time, maybe I should look at the detail before signing up?
Seems to be a lot of blame culture going on and something for free.
Take all of this back if you have been sold a pup without full disclosure. Some of it comes across as the ambulance chasing culture.
Awaits flaming from the I am offended team.
Serious question though as I am interested in what the motivation is apart from some free cash. I know, it's no free cash, I was conned etc etc.
I may come across as virtuous but if I got caught, and I may well have been, then I think I am just as much to blame for not understanding what exactly what I was signing up to. Caveat etc.

They never ever disclosed that they were making in excess of 65% commission on every PPI payment made in any of their paperwork.

Think about that for a minute. They sell something once, and yet take a lions share of what you pay for 'insurance' every month for themselves.

Barclays couldn't even quote me the percentage they kept, but admitted it was in excess of 67% of all payments made.

but did that matter? you were paying an amount for insurance and got it.

Should a supermarket tell you the markup on the custard you are buying?

[overunder12g]

Efbe,

Nail/head

[TTmonkey]

Efbe said:

TTmonkey said:

overunder12g said:

I might be missing something here, but did anyone on this topic ever think at the time, maybe I should look at the detail before signing up?
Seems to be a lot of blame culture going on and something for free.
Take all of this back if you have been sold a pup without full disclosure. Some of it comes across as the ambulance chasing culture.
Awaits flaming from the I am offended team.
Serious question though as I am interested in what the motivation is apart from some free cash. I know, it's no free cash, I was conned etc etc.
I may come across as virtuous but if I got caught, and I may well have been, then I think I am just as much to blame for not understanding what exactly what I was signing up to. Caveat etc.

They never ever disclosed that they were making in excess of 65% commission on every PPI payment made in any of their paperwork.

Think about that for a minute. They sell something once, and yet take a lions share of what you pay for 'insurance' every month for themselves.

Barclays couldn't even quote me the percentage they kept, but admitted it was in excess of 67% of all payments made.

but did that matter? you were paying an amount for insurance and got it.

Should a supermarket tell you the markup on the custard you are buying?

Yes it does matter. Financial services providers have been declaring for years how much commission they've been making on their products. I bought an endowment mortgage 35 years ago and my independent advisor had to tell me how much commission he would be making on the product. That commission had to be seen to be a fair and reasonable amount.

The cc company wasn't the provider of the insurance, they were the 'introduction agent', no more. As such, they should have received a one off commission for the introduction (much like the comparison website do, who also have to declare they're commission).

The Cc companies neither declared that they had a very strong self interest to promote the insurance, or detailed the fact that the continuous commission they had devised with the insurance company was ongoing at disadvantageous rates that were preposoutously high for the utter lack of service they provided (as they weren't the insurance providers they did nothing except collect the premiums).

Which is why they lost the high court case,