Receive countless phonecalls everyday about the misselling of PPI and it got me thinking.
When we took out a mortgage 13 years ago it was a condition of the mortgage that we take out PPI, it's not cheap over £200 a month. We are no longer tied in to the scheme but still pay the PPI out of fear.
I pay over £100 per month with Barclaycard.
A couple of years ago I noticed on my statement that I had been billed £140 for PPI from a company I had never heard of. I phoned and they said that I had signed with them when I was 19 (20 years ago) I accused them of lying as I already pay enough to Barclaycard and wouldn't have taken out another insurance. They said that their scheme was unique as it also covered locksmith charges. Locksmith charges is never something that I would have been interested in as I lived with my inlaws. I cancelled it over the telephone but by then had been paying them £140 pa for 17 years!
What exactly constitutes misselling?