PPI: my experiences and successes! | Cottage Retreatist

PPI: my experiences and successes!

Payment Protection Insurance (PPI) seems to have been in the news forever with news of people getting major payouts from Banks and Building Societies but did you know the deadline for claiming mis-sold PPI may end in 2018?

You can find a wealth of information on how to reclaim PPI on the Moneysaving Expert Website and I won’t even try and replicate it because it is so comprehensive and so well put together so my advice is to go there to find out how to do it. But first! Read my story!

My experience of PPI

I only had my credit card for one year before I fell into a default through lack of repayments. After that it went to a debt collection agency who I didn’t contact for over 12 months until we got out of our debt denial stage! After that I agreed a repayment plan which, after a year, transferred back to the bank and we are now on speaking terms again! Finally!

I thought there was no way that bank would consider giving me PPI with the way I was when I banked with them!

I asked for advice on MSE forum to see what the more knowledgeable people on there thought. This was their response:

“Nothing indicates you have any grounds for complaint based on what you have said. Why do you think you have grounds for complaint?”

Undeterred I pushed forward and thankfully other (kinder) people came forward and suggested I go for it! After all, what did I have to lose? I used the template provided by MSE and within only a few weeks I got a letter back offering me a cheque for £800; no questions asked! And a few days after that the cheque arrived! I cashed it and that was the end of it!

I filled out the PPI forms from @MoneySavingExp and within only a few weeks I got a cheque for £800 Click To Tweet


That was 3 years ago! Suddenly last week I got another letter through the post – they had taken another look at my case and had decided to award me a further £300! And true to their word, 3 days later a cheque appeared in the post (again!).

So, there you go! Think you were mis-sold payment protection insurance? Go for it!

It is free, takes only a few minutes of your time to fill out the form. Be truthful and tell them the impact the mis-selling had on your life and finances, and why you think it was mis-sold and wait to see what happens. If they say no, ask the Financial Ombudsman to investigate.

But remember: time is running out!

Do you have a PPI reclaiming story? If so I would love to hear it. Let me know in the comments below.

This post is part of the Financially Savvy Saturdays #152 link-up party hosted by brokeGIRLrich and DiseaseCalledDebt. Follow the linkup on Twitter using #FinSavSat.

Disease Called Debt
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4 thoughts on “PPI: my experiences and successes!

    • Hi Mel!

      Thank you! I was amazed to get so much to be honest! And the extra 300 was a total unexpected bonus 🙂
      champagne on me 😉

      Nat x

  1. I had similar unhelpful and not very encouraging from a couple of people on the MSE forum. Luckily I filled out the forms anyway and got £5k back! Also made me debt free a good year earlier than expected. I would say to anyone thinking about it, to be honest and try. It is, after all, your money.

    • Hi Marie!

      Thank you for your comment and thank you so much for sharing your experiences! Yes – sometimes I do think you need to take what people say on these forums with a pinch of salt – they can be a bit dismissive sometimes! £5k is amazing and becoming debt free a year earlier! Yay!! 🙂

      Natalya x

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