Chopped Liver – I Got Stung

Today I want to talk to you about something that, before yesterday, I knew nothing about and tomorrow I hopefully wont care about. It’s called the Payment Protection Insurance scheme. Now, before you pick up your remote and switch over to another blog – hear me out.

Pesky parasitical, unscrupulous, blood-sucking, evil, nasty ....

You may have already heard of it – in which case you probably know you’ve been stung. You may not have heard of it – in which case you probably don’t yet know you’ve been stung.

But, if you have ever taken out a loan – for anything – and you have to pay it off in, I dunno, say 36 months or, in my case, 60 months for a new front door and window then read on.

If you took out a loan since January 2005, then your loan company may have, unbeknownst to you, added a PPI – Payment Protection Insurance to your loan – which you did not ask for, and probably would not have wanted – as the additional amount you have to pay far exceeds any potential claim settlement you may want to claim in the event of you being unable to keep up your payments.

I only know that I have this insurance because the insurance company wrote to me to tell me that my policy was coming to an end and that they are not offering to renew it. I thought, “I don’t even know what this is, but hey, I haven’t really been able to work much the last couple of months, so maybe I am eligible to claim.”

After being told by the loan company that I had to state my case, and get supporting letters from my Accountant and Doctor, they would consider my claim – which I estimated to be worth a whopping £70!

Look, I know this is a tediously boring post today, but that is half the point – these companies know they can add on this premium, and people will be just too bored or busy to even notice it – and companies up and down the country have made absolutely millions of pounds of us with this scheme.

I, myself, will have paid over £1000 for something I didn’t want and didn’t know I was getting.

So what can you do? Well, thankfully in this internet age, a quick search on Google on my part for PPI reclaim yielded this brilliant article – complete with a template letter for you to amend, print and send.

I did this yesterday, and will see what happens.

Bring back the Baker jokes – all is forgiven, I hear you cry.

Explore posts in the same categories: Liver Transplant

One Comment on “Chopped Liver – I Got Stung”

  1. […] Chopped Liver – Pay Me My Money Back You may remember some time ago I related the story about how I got stung by a Windows Replacement company who sold me some windows (I shoulda seen through that!) and then added a PPI (Payment Protection Insurance) plan to the agreement. Anyway you can refresh yourself with the story HERE. […]

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