Hello tellows friends,
Yesterday (August 29th) was the deadline for submitting PPI claims. This marks the end of a period of around 10 years where those affected could seek compensation.
Given the widespread mis-selling of PPI, it became a goldmine for claims companies, all trying their luck to encourage consumers to make claims.
What is PPI?
PPI was sold to cover loan and credit card payments if a customer was unable to due to sickness or unemployment. Many, however, were completely unaware that they had signed up to the scheme, creating a huge scandal.
It is estimated that up to 60 million PPI policies were sold in the UK. This cover, however, was often mis-sold, which left millions eligible to receive compensation.
A jaw-dropping £36 billion has already been doled out to compensate PPI victims and it is predicted that this amount will increase wildly as many rush to submit last minute claims. Indeed, major banks have been reporting greatly increased traffic on their claims lines.
It remains to be seen how the end of the claim window will impact the British economy, given that many jobs currently exist purely for the purpose of PPI claims.
What our users experienced
Naturally, as a result of this so-called gravy train, claims companies leapt to offer their assistance. We have included some examples of our users’ experiences of the scandal:
Steebs tells us their PPI story concerning the number 07824640652
Alex wants a better job and uses his position at the call centre to find leads. Bless…..lol. basically yet another PPI claims call, but I tell you what. the amount I’ve supposed to have coming to me is getting much larger. I’m apparently due £3256.78 now. WOW, holiday here we come!!! Alas, poor Alex won’t be calling on this number again as I’ve blocked it.
Anonymous commented on the number 01133203886
PPI call. Wouldn’t take it that I wasn’t interested I tried to be as polite as possible but just wouldn’t listen so had to hang up.
This comment shows the unfortunate truth about certain PPI claims callers – some people are harrassed by companies who want their cut of the easily accessible winnings.
Colin reported the number 01916719985 as a suspicious caller
About my PPI claim – just a load of rubbish scam call, hung up after 10 seconds. and blocked number, currently trying a least 3 times a day.
As you can see from this comment, lots of scammers also pose as claims companies. If you get an unexpected call about PPI after yesterday’s deadline, you should certainly assume that it is a scam.
Why and how does this affect spam calls?
Claims management companies who cold call to encourage consumers to make a claim will no longer have a reason to call. This is potentially a welcome break for those who are sick of nuisance calls.
However, these companies have had years to plan for this date, indicating that perhaps they will find something new to call about. Time will tell if this happens or if they simply disappear. We can only hope!
If you receive a nuisance or scam call:
- Do not hesitate to hang up the phone
- Share information on the tellows website to protect others from the same caller
- Inform the police or report the caller to Action Fraud if you believe that they could be dangerous
Your tellows team