Was clarified later. For me it didn't seem like a good investment.

Not all of it was mis-sold but most of it was. Big banks weren't telling people about the (numerous) exclusions that would stop you claiming and as the actual claim rate was something like 5% on on most of these policies you can safely assume that most were mis-sold.

What sort of exclusions?

Source?

Source - Working in the industry, dealing with a enforcement from the FSA for mis-selling, managing a insurance Sales Team after 2005, managing a insurance Complaints Team, dealing with the FSA and FOS on a regular basis.

Exclusions - selling to self employed or unemployed people who weren't covered at all, people with pre existing medical problems.

Not to mention the people who weren't even told the cover was getting added to their loan.

Got back from work to find a letter from Lloyds Tsb offering me £1.188.28 in compensation for being mis-sold PPI on my loan.

Deal!

Not bad for the cost of a phone call.

Have been told to expect an offer for the mis-selling on my Credit Card soon.

Anyone done this with Halifax?

You accepting the first offer?

Yeah before the pot runs out.

Two questions for the Fiso PPI experts:-

1]Is it possible to have been sold PPI which is included in the monthly payments of a mortgage, so you don't necessarily know you are paying it ?

2]If you have an annual fee on your credit card is it likely you was paying PPI ?

1 - Yes

2 - I can't see how.

Thanks i would have guested the other way around, the first one being sneeky not highlighting the charge and the second one is why pay £50 a year or whatever for a credit card when you can get them for no fee, what does the annual fee go towards.

Now that is a result...well done sir !

I thought these claims were only for the last 10 years? So AK, your friends getting £21,000 for banking with the same organisation for 20 years. How does that work?

I have been in the fortunate position to only have a mortgage and no other debt, and I pay a separate independent company a fee each month that will cover most of my important outgoings in the event of redundancy rather than a specific debt. That includes council tax, utility bills, mortgage etc etc.

Although the banks have set aside billions for these claims, I really dont see them not trying to get this money back in the shape of higher loan arrangement fees and loan rates in the future, which means we ALL suffer rather than those who were miss-sold these policies in the first place. Right or wrong?

I'm not entirely sure, but I've seen the letter & the money has been paid to them. The banks only keep records for so many years and had no idea when the policy was sold to them, therefore they had to assume it was as long as they had had the credit card & effectively guesstimated the correct amount (I know from the breakdown there was £8k paid in interest alone )

So no source then. Do you really think that the exclusions you have mentioned prevent 95% of claims being successful? It may have been 95% of people that were complaining about their claims being rejected, but even then I doubt it's that high.

1] Mortgage PPI is often paid within the same payment as your monthly mortgage repayment, but it should show up on your annual mortgage statements or the like, so you would know if you had been paying it.

2] Again, it should show up on the credit card statements if you had been paying for it.

Whatever. Carry on guessing and mis informing people then.

How strange. I'm not the one making up statistics to try and back up my argument.

I've had few credit cards in my time, but by and large havent bothered with PPI.
Not sure if some of the earlier cards I had, I took it (PPI).

Only had one loan that I can think of. Again, can't remember if I had PPI.

Is there any way I can get a record of what credit cards I've had?
If I do one of these credit check things, do/can they detail all the cards/loans I've had?

Zimm, if you go into your bank they can give you details of all the loans/credit cards you have had in the past. Apparently some banks charge you a small fee for this info. You have to actually go in your local branch, they wont do it over the phone.

Is that only cards and loans I've had with them though?

Yeah I would imagine so. Maybe they have access to other info but not sure.

Ok, cheers.

http://www.bbc.co.uk/news/business-17269048

Banks are starting to write to millions of customers explaining that they might have been mis-sold payment protection insurance (PPI).