[Closed] PSA: PPI deadline today

None of the companies that do it for you will accept your claim now as they can't guarantee to get it registered before midnight.

I put in a claim about a week ago with a broker.

moneysavingexpert.com have a free tool you can use. It was still working this morning.🙂

Takes about 10 minutes.
Off you go!

Resolver App is fast and easy you only need to request an email will do.

Just done all my old CCs & mortgages via Resolver. Really easy. Got to be in it to win it 😃💰💰💰

Tbh when the whole PPI claim thing kicked off, I'd never even heard of it before, so if I had it then I was definitely mis-sold 😂

The economy is going to step down a notch once PPI ends. The best example of 'Helicopter' money every implemented. 10s of £billions distributed to everyday folk who then spent most of it rather than just shoved it in pensions etc.

I suspect car finance will be the next PPI

Packaged bank accounts, unauthorised overdraft charges and pay day loan fees I'd go for.

I'm already in the process of claiming back Packaged Account fees.

Packaged accounts definitely the next phase, smaller but non the less important for customers.

I was involved with Barcs setup, it’s not widely known just yet but once the PPI is out of phase this will gather pace.

Doubt the PCP will go the PPI route, since there is an asset attached to it and the only “additions” are those agreements with locked in GFV Insurance or Paint Protection.. as in: yes you can have the car, but you must take out the GFV insurance that’s attached to the finance package, and it’s our own insurance we only offer.. don’t take the insurance, cannot have the deal

etc.etc.

Bugger. No end to the spam then?

Packaged account fees are tiny though...

Well, out on a ride last night, in late, food, fell asleep. Wonder how much that cost me.

There was talk about banks automatically refunding anyone known to have PPI and not claimed, deadline or not.

That’s not Barcs interpretation...

There was talk about banks automatically refunding anyone known to have PPI and not claimed, deadline or not.

that would of course have been the honourable thing to do. The issue of course is that the miss-selling means not everyone knows it was sold to them. My folks we're sold PPI as part of a finance package a glazing company put together so they never dealt with a bank directly and looking back nothing in the paperwork they signed and agreed to mentioned PPI at all - it was only apparent as a small disparity between what they'd agreed and sum taken as a DD for repayments. So Anglian Windows clearly did the diddling - HFC just gave them a lucrative tool for doing it and they both trousered the profits. My parents were both retired at the time on full public sector pensions - there wasn't a chance in hell they'd ever be eligible  able to claim on it and no way they'd have asked for or accepted the insurance if it was clearly offered.

Part of the problem of it being left to the customer to pursue a claim is they need to know they can, and easily (there has obviously been a goldrush for claims companies keen to convince people its difficult if their advertising spend is anything to go by). And while we've focused the news on 'banks' lots of people who've beens sold this cover would have had it sold to them as transaction with a high street shop or as part of home improvements etc - and it could have been decades ago.

But the other problem with putting on the onus on the victim to claim rather than the perpetrator or fess-up is it sort of requires you to be alive. Dead people have just as valid a claim on miss-sold PPI as the living and the money due back to them is part of their estate and is due to their beneficiaries. But that's a pretty involving bit of detective work (and requires people to even know its detective work the could and should have done) but it would have a very easy action for the banks to just have said - sorry, here's your money back.

I put in two claims, two weeks ago, directly with Lloyds and Barclays on their PPI claim pages and I've heard naff all back from either of them.
Don't know if they're inundated with late applications or what. No idea how to chase them though.

I suspect car finance will be the next PPI

I keep hearing that, but I don't know why. PCP / Lease deals are very clear that you'll never own the vehicle, maybe you could argue the latest 'scam' is to offer really low mileages as standard and sting people for excess mileage, but I'm not sure they'll get away with that.

What has been said is that PCP/Lease could be the next financial bubble to burst and cause another banking crisis. It's got all the hallmarks, over inflated tangible assets, artificially created equity to make them seem far better risks than they are and huge amount of money being used.

The biggest seems to be VW but they're not alone. Cars are REALLY cheap these days, both my Wife and I have PCP cars, we both get an allowance for transport. Both of them make no sense to me. If you accept the cost was even close to being 'right' the amount we're paying and what they're going to be worth at the end compared to the GFV and the tiny amount of interest they're making off us there's a decent chance they'll make a loss on the whole thing, I know enough about credit risk to know that even with a normal level of bad debt, they're not making nearly enough money from it, not real money anyway, I'm sure it looks good on paper.

I think a recession could bring the whole thing crashing down, if it doesn't then at the rate they're pushing at the moment it will anyway once the market tops out and everyone who will PCP has one there will be problems. I can imagine the like of VWFS and BMWFS holding on to a huge pile of toxic debt, not because their customers aren't paying, but because there are so many 2/3/4 year old cars available that every time a customer gets to the end of their deal and returns their car, they'll lose a few grand.

I understand GAP insurance to be next, you know the insurance to bridge the gap between a cars worth and what you still owe on it.

Horrific product, aggressively sold and not needed in many cases.

I put in two claims, two weeks ago, directly with Lloyds and Barclays on their PPI claim pages and I’ve heard naff all back from either of them.
Don’t know if they’re inundated with late applications or what. No idea how to chase them though.

its great that the banks have made online claims easy... just a shame that at the end, when you complete and send the claim you get naf all acknowledgement- no confirmation email even though they take an email address as part of claim. So you've no reference to enquire about if, later you've not heard anything- and that seems to be same across all the banks I've put claims through either on my own behalf or as exectutor / POA for others

I put in a couple of claims a couple of weeks back for myself and received one offer to respond/agree to (Smile) and one request to confirm my ID at a branch as it was a bank I'm not currently a customer of (HSBC on behalf of HFC). Other banks might have sent a text to say its being process or have sent letters - but not everyone has responded to date with some sort of acknowledgement of the claim having been made.

Had a letter from Blackhorse today, informing me that they had indeed found details of the loan that I had PPI on over 20 years ago. I wrote to them 6 months ago and they told me they had no record of the loan (neither did I, so I just left it at that).
Should make for a merry Christmas

Dead people have just as valid a claim on miss-sold PPI as the living

Also, if you have found yourself in the financial crapper since then; CCJ's IVA's etc, it excludes you from the process.

It can't be right