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PPI claims - are they just hype?

(14 Posts)
Spongebobfrillypants Wed 22-Mar-17 11:24:29

Is it worth looking into PPI claims to see if we've got any money owing to us or are these adverts just a massive con? I'm thinking of contacting one of the many companies that say 'I could be owed thousands' but the ads just seem too good to be true! Has anyone received any money from them? Would really appreciate your wise words or experience please.

BarbaraofSeville Wed 22-Mar-17 12:18:04

If you think you've had PPI in the past, you are almost certainly entitled to it back plus interest. I personally know several people who've had thousands back.

Look on the moneysavingexpert website. They will walk you through it with template letters and advice and give guidance on what you can do yourself and when it may be better to get a company to do it for you, who will take quite a cut.

Spongebobfrillypants Wed 22-Mar-17 12:35:13

Thanks Barbara - I suppose I might as well give it a go - could really do with the money at the mo ( who couldn't?)

delilahbucket Wed 22-Mar-17 15:54:18

You can do it yourself easily and for free. I did with Barclays and Halifax.

Hoppinggreen Wed 22-Mar-17 17:16:51

I did it very easily myself ( LLOYDS). Filled in 1 form and had 1 phone call and got £1800

gamerchick Wed 22-Mar-17 17:19:11

Use the template letter on Mse. If you use a company they'll send the letter for you, you get the refund then the company hounds you until you transfer a huge chunk of it.

Tobuyornot99 Wed 22-Mar-17 17:19:45

I got 2k from HSBC for writing them a letter, template printed from MSE. Definitely worth a go.

frogsgoladidahdidah Wed 22-Mar-17 17:20:41

We just asked our bank to check and received 5K! Most of it was interest, but they checked everything (luckily I was a loyal customer and kept everything within one bank)

ivytable Wed 22-Mar-17 17:20:54

My MIL and DH both filled in the form themselves, apparently it's very easy MIL
got £4000 DH almost triple that. Those companies take a cut

cowgirlsareforever Wed 22-Mar-17 17:21:48

I made a claim myself and received about £2000 compensation.

raspberryblue Wed 22-Mar-17 17:23:07

I did my own. Quite a few of the banks have their own departments for it and forms on-line. It's pretty easy now and worth it if you did pay PPI. I got back a couple of k - not to be sniffed at for a few hours form filling.

allthebestplease Wed 22-Mar-17 17:32:40

Yes defo, DH got £8000 back (royal bank of Scotland). I got £2000 (lloyds)

Also did packaged accts (Barclays) got £1100

Whoop whoop

We did use a company though so they took 40 per cent

DameSquashalot Wed 22-Mar-17 17:49:35

I went directly through my bank and got £4K. They called me about 2 years later and asked me a few more questions and gave me a further £800...

KeemaNaan Wed 22-Mar-17 17:53:51

I just wrote to my bank asking them to check and hey presto, got the cash back, so totally worth it.

Don't bother with a PPI company. All they do is write to your bank for you, which isn't exactly taxing, then nab the cash.

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