PPI ....... Thank you very much.

[Traci66]

He'd a couple of loans from Barclays years ago, about 3 weeks ago I phoned them and asked about PPI, just checked my bank today to find I have been refunded just under £10,000, will probably get a letter today or tomorrow letting me know. Thank you Barclays.

[Traci66]

^^^ had

[firewatch]

WOW thats great!

[murraymints]

CAKES ALL ROUND !!!!!!

[factor-fiction]

Wow. I suppose it is only money you had already paid out plus interest so it's not really profit, but it's a great bonus.
If the PPI premiums were so big the loans must have been huge.
Out of interest, did he know he was paying PPI at the time?

[Traci66]

Yes we knew, Factor, the bank manager wouldn't allow the loans without the PPI, but apparently it does not benefit self employed pele, so it was mis-sold.

[factor-fiction]

The banks were clearly wrong to sell you a policy on which you couldn't claim. I suppose they were really trying to make the loan more profitable. The irony is that he was prepared to pay the higher amount in order to get the loan. In a competitive market they should have just been more transparent and charged a higher interest rate that reflected the risk rather than dressing it up as a PPI policy.

[modeste]

Well done you. I have had £12,000 back so far from different institutions and am now going to tackle my defaulted credit cards.