PPI refund £3000 – your debt £5000, didn’t read the contract you signed, enjoy.

Back when PPI (Payment Protection Insurance) was a massive scandal in the UK, I worked in a PPI complaints department for a pretty bad credit card company. This American card company gave cards to those noone else would dare, leading to a lot of bad debts.

If PPI was mis-sold we would issue a letter offering a refund amount for the customer to accept, sign and return. Underneath the signature area was a very important statement “If your account is not in good standing, this refund will be used to offset any debt and the remainder will be paid to you within X weeks of returning”.

At least 8 times a day I’d have to explain to a customer why they weren’t receiving their refund for xxxx amount, due to their account being in bad debt status how we’d reduced their debt for their own benefit as per the instruction under their signature. Amazing how many customers had already spent their refunds before receiving them, and didn’t understand that having a payment plan for £10 a month with collections on a £7000 debt meant they were up to date with their payments and should recieve their refunds.

Luckily, we were the accounts managers, noone to escalate to just held firm until they gave up. I loved that job.

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