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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

Aibu to think I am the only person who didn't take out PPI?

179 replies

Redspider1 · 28/08/2019 13:22

With the deadline nearly here and the constant reminders from ads on TV and radio, I feel a slight panic rising that I actually did have it and I'm missing out on thousands. We don't believe we had PPI but made an enquiry as a friend said the same and got some money back but we were told we had no claim. Everyone I know has had some money back. Never had car finance, or loans only mortgage and credit card bit no fees to policies attached. Are there others like us out there ? Have I missed something?

OP posts:
Roomba · 28/08/2019 13:55

I've never had PPI either. Always turned it down as the T&Cs made it pretty obvious that it wouldn't cover me in most scenarios so it was pointless. I feel like I was the only person who did this sometimes!

Maybe I should make a claim though, it sounds as though it's not impossible that it could have been added on without me even knowing?

Noodledoodledoo · 28/08/2019 13:55

I always said no to anything, but have just completed paperwork with one of the big claim companies as I am sure I don't have any but considered it was worth a check!! Won't cost me anything if there is nothing and if it does its something for nothing at the end of the day.

My husband got a pay out a few years back, paid for our new bathroom, and he was happy to pay for the PPI when he had it!

ABy1er · 28/08/2019 13:57

I’ve urged several to double check but have been met with a lot of smugness.

MissSueFlay · 28/08/2019 13:59

We had a really honest financial adviser who set up our first mortgage. I clearly remember him advising us not to take out PPI so we didn't. Like you, I do feel like I've missed out because we know so many people who have had a little windfall from it!

OneThreadOnly0101 · 28/08/2019 13:59

You aren't alone. It's really upsetting 😂

I was a responsible debtor. I've had £25 from Halifax. That's it. All other enquiries were met with a resounding no.

A colleague got tens of thousands SadEnvy

Original poster
Redspider1 · 28/08/2019 14:00

Well as I said in my OP DH did a check last year but nothing, as we expected.

OP posts:
Original poster
Redspider1 · 28/08/2019 14:02

Is the money that they get back the amount of the premiums paid or is there an amount of interest or compensation? Some claims seem enormous.

OP posts:
MillicentMartha · 28/08/2019 14:02

I took a loan out once to get some home improvements done and specifically told the advisor that I didn’t want PPI as I didn’t the point of it. A very expensive insurance that only seemed to protect the lender if I defaulted. When the paperwork came back he’d included it after I’d signed it! I soon got it taken back off and paid that loan off as a priority as I didn’t trust them after that. So no big payout for me.

MargoLovebutter · 28/08/2019 14:03

Me neither. My father (long since dead) always said that stuff like that was a massive con, so I always declined any 'insurance' on mortgages / loans / credit cards etc.

Vanillaradio · 28/08/2019 14:05

I never had it- did not have a mortgage or loan in that period and credit cards always paid in full.
Dh has on the other hand has had 3 successes of £3,500, £60 and £5.50! Yes compensation was added(about half the £3.5kwas compensation). He still has one claim we are waiting on! Kind of wish I had it now!

Yorkshiredolls · 28/08/2019 14:12

No i’m pretty sure I never had it. used to have targets to sell it as an add-on when selling store cards in a fashion store as a 19year old. we used to get a bonus if we got them to get PPI, how wrong does that feel! I never miss-sold it, I always went through what it was they were buying. Colleagues got much better figures then me though so maybe they were? Because I knew what it was I declined it any time I ever needed credit for anything. I never had much debt when i was younger to amount to anything worth claiming anyway.

ABy1er · 28/08/2019 14:14

My dad was a financial advisor so we knew what to do and what not to do. Ours was nearly all interest and compensation.

familycourtq · 28/08/2019 14:15

YABU I didn't have PPI as I saw immediately it was a massive rip off.

PookieDo · 28/08/2019 14:15

I am sure I had PPI on a very old loan way back when. I have tried and tried to claim this back but the bank it was with is now owned by another bank and they just ignore every letter I have sent!

Original poster
Redspider1 · 28/08/2019 14:18

Feeling reassured by the responses. I'm home in term time and seeing many more daytime TV ads. There is one that says something along the lines of " What are you waiting for? Why haven't you claimed? Don't just sit there! " I just feel like punching him. That might just be my perimenopausal rage though Blush Thanks all.

OP posts:
lyralalala · 28/08/2019 14:19

I never signed up to it, and it was never detailed on my statements, but I got 10k back (and that was despite going through a company who took a cut)

I only signed up to let the company check to stop my BIL nagging me, he knew how many companies had added it on without any notice.

Speakercube · 28/08/2019 14:20

It's also possible to have PPI on overdrafts which I didn't realise until this morning--good ol Martin Lewis!

Original poster
Redspider1 · 28/08/2019 14:20

AB really pleased for you, that was really sneaky. Enjoy your windfall.

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Original poster
Redspider1 · 28/08/2019 14:21

Lyra
What was your product?

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MitziK · 28/08/2019 14:23

I refused it everytime, as I could see that I wouldn't be covered in the event of a claim (first job after leaving college was for an insurance company). The hard sell initially rang alarm bells, in any case - I am a naturally cynical person, so I wanted to know why it was soooo important.

It is somewhat galling that people who didn't read or ask questions have been able to get their money back. But it's not as if I'd paid out a fortune in premiums at the time, so it doesn't really affect me that much.

Same with endowments, interest only and self certification mortgages. They're daft levels of gambling. I can see why they were tempting, but even as a wide eyed 18 year old/jaded 25 year old, people were clearly asking for trouble.

marriedwithhounds · 28/08/2019 14:23

A colleague of mine got £8,000 a while ago for this and went on holiday. He said it was 'like free money.' Was also very, very jealous!!!

IsobelRae23 · 28/08/2019 14:24

I didn’t take it out on a few things, but submitted a claim in case- turns out it had been added and not on my paper work 2k, 2.5k, and £500 at Christmas. Submitted my last one Saturday as apparently I had it on a store card in the early 90’s which I didn’t know, and I have a claim!

IsobelRae23 · 28/08/2019 14:25

Oh and exdp when we were together had almost 7k- holiday, car, and big and bobs. It was a nice summer!

alphajuliet123 · 28/08/2019 14:33

I put in a claim in while half asleep last night, had no idea the deadline was closing until then. Don't think I ever had any PPI but I had various loans and cards in my 20's. A friend just got a £17k pay out and I'm doubtful but hopeful there might be a little refund for me, somehow!

Original poster
Redspider1 · 28/08/2019 14:37

alpha how many claims did you put in? One for each card?

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