Payment protection Insurance

Discussion in 'Finance, Property, Law' started by Carnmore, Apr 28, 2010.

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  1. Hi all

    Having just read the April newsletter, I thought it was VERY important I added a quick note regarding reclaiming payment protection insurance... I notice that Consumer Net (the new sponsors) are offering to reclaim members PPI at a "small fee".

    I was shocked when I eventually found their website (as none of the newsletter links, or Consumer Net's sponsored link works!) This not very small fee is a cheeky 25%!

    I have just claimed almost £3,000 back from Barclays by simply making a phone call to them & saying, "I think I was missold payment protection insurance". "Ok", they said & posted me a form. A couple of simple sentences later - eg: I think I was missold ppi because I am in the armed forces & I already have sufficient cover in place. You, as an organisation should be aware of this & therefore refund the PPI to me" ...

    Hey presto, I am almost 3 grand better off... and guess what! I didn't hand £750 of that over to some company for the privilege of adding my signature to one of their forms!!

    Take heart! Try for yourself and you may be pleasantly surprised! These money grabbing companies know that the Financial Services Authority deemed many PPI sales unlawful, meaning any complaints must be upheld and any premiums paid returned to the rightful owner. The 3rd party company don't have any tricks up their sleeves, it really is very simple & they are profiteering from others misfortune.

    If you need to reclaim PPI, I strongly recommend you try yourself & have some extra spending money for that holiday the newsletter refers to. All it will cost you is 10 mins of your time, a phone call & possibly even the price of a stamp. (The bank sends a stamped addressed envelope)

    Failing that, drop me a line & I'll help reclaim it for you for 12.5% :p

    Just kidding

    Good luck!
  2. PS Consumer Net (good choice of name) charge VAT on top of their 25% which means they take a whopping 29.37% of your money