Are you owed £2000?

[pincher]

Just seen this on the back of an old copy of the Sun that was kicking around the office;

Advert said:

Are you owed £2000?
Have you had a loan from Abbey, Alliance & Leicester, Barclays, Halifax, HSBC, Lloyds TSB, NatWest/RBS, Northern Rock, or any bank or building society?
If you did, there is a good chance that you had a payment protection insurance policy and may not even know it.

You may be due £000's in compensation even if you no longer have the loan

Call us now on blah blah blah......

We've already won £5million in payment protection compensation at an average of over £2,000

How does that work then? I've had a few loans over the years from most of those institutions, so am I about to get rich and be able to fund another car?

[ultegra]

Prob some sort of mis-selling of payment protection schemes took place back in the day.

I seem to remember something similar about the mis-selling of endowments where a load of folks claimed compo.

[V8mate]

I went to a networking event last week and there was some there trying to flog this 'service'.

Essentially they take a look at your credit card, mortgage, PPI contracts etc. and, if there are any flaws in the small print, set their solictors on the lender seeking compensation.

Scum of the earth. Who borrows money in the expectation of getting compensation? If you borrow money you pay it back FFS!


ETA: The shysters were called 'Your Advisors'

Edited by V8mate on Monday 12th January 14:51

[fatboy b]

I've always turned this down. The current one for my car would have added about 25%/month. Multiple that over 42 months, and ouch.

[ytrebil]

I successfully reclaimed PPI from when I was younger as I was 'forced' to take PPI due to my age. It was about £1500 I think. So quite a wedge. Check out MSE forums. They even had a template.

[G'kar]

There was a documentary recently with some reprehensible mouth breather proudly boasting how he'd had circa 30K worth of loans written off on such technicalities.

Scum.

[Mrs Grumpy]

It's one of the latest ambulance chasing bandwagons, after endowments and bank charges.

Some people were 'sold' PPI when they were not eligible. Easy enough to claim back yourself, should you wish to. No need to give a chuck of any compensation to a 3rd party.