This PPI refund stuff is bullshit right?

[whoneedssleepanyway]

Literally get text messages daily telling me I am owed money back. I ignore them. This then has escalated recently to my phone ringing I answer and there is a recorded message saying I am owed a repayment and to press 1 to speak to someone.

Today I answered my phone to a number I thought I recognised and it was an actual person who launched into a massive spiel saying I had come up on their computer etc, I said I didn't know how this was possible because as far as I was aware I had never paid any PPI and only financing I had had was a mortgage. She started saying the computer said I was due a repayment and all she needed to do was get a financial advisor out to me which was free to sign me up and they would then take it from there as I was definitely due some money back.

I politely declined....but is any of this for real? AIBU to this it is a load of crap and they just sign as many people up as possible in the hope that some of them will be entitled to something and they then get their cut.

*can i ask - i presume if you have ever taken out a loan you would know if you have opted for the PPI with it - yes?

i have always opted out of paying PPI....means ive never paid it - right?*

Not always. Some companies added it on anyway either as a premium or as a monthly addition to your interest. Some either didn't ask, or gave the impression it was compulsory, or may have called it something else and put it on your account anyway.

Unscrupulous gits!

If you have ever had a loan or credit card in the last 10 years, it's worth checking. Dh and I have received about 40k

Originally these companies seemed to be the only ones who could do it. Years ago
We used one and they were very professional, but yes, their fee was 25%.

It's much easier to do it yourself now, so you keep all the money.

But it is bollocks, these companies do not know if you are due any refund, but if you had loads/ccs/mortgage, then chances are, you might be owed something.

I am thoroughly fed up of PPI calls. If you have no PPI to reclaim there seems to be no way of getting rid of them, they just keep calling back. Lady rang up today and said I was due a repayment on a loan I'd had in the last few years. I told her I hadn't taken out a loan in the last few years. She told me that I must have forgotten it She "kindly" offered to go through some details with me. I like to be polite even to cold callers but there was no way to stop her apart from putting the phone down.

What i don't understand is that I did take loans with PPI,knew I had it, wanted it so wasn't miss sold so jog on, not going to take a fraudulent claim saying I didn't know about it!!

Was it just on loans, or credit cards and overdrafts too?

Oops, see it was on credit cards.

I get these all the time and it really annoys me. I know they are a scam and I know I'm not owed any I have only had 1 loan in my life & that is a student loan. I have also had a mortgage but that was a staff one when I worked for the bank and I knew the terms & charges inside out.
I have been reporting the txts to the VSPAM service as I'm with vodaphone, I believe other networks have their own services. Info on their web pages.
I'm not sure if it works but as it's easy & free I see no harm in reporting them.