Rip Off Britain English

7/31/2019 Rip Off Britain English

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Guide o Getinga Good Deal

bbc.co.uk/ripobriain Mahs and English skills o challengerip-os and ge he bes dealsbbc.co.uk/skillswise

Written by: Mike Naylor, Personal Finance JournalistDesigned by: Origin Creative

BBC Learning 2012


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So we worked with the team at BBC Skillswise toput together this handy guide highlighting someo the key areas you contact us about most oten.

Its ull o consumer tips and advice on how tocomplain and who to complain to, as well as

pointers on practical skills like working out the bestdeal or yoursel and writing a letter o complaint.

We hope you nd this guide a useul starting pointto help you eel more condent as a consumer.

The Rip-O Britain Team

Here a Rip-O Briain, we receivehundreds o emails and leters rom

you, he Briish public, elling ushow you eel youve been ripped oand asking or advice.

ConensI you have asory or us,ge in ouch:

[email protected]

Rip-O BritainBBC Quay HouseMediaCityUKSalord, M50 2QH

Energy billspage 4

Savingspage 13

Cash or goldpage 20

Energy bills 4TV and broadband 6

Phone conracs 7

Banking 8

Credi cards 9

Payday loans 10

Dealing wih deb 11

Geting help wih your fnances 12

Savings 13Pensions 14

Insurance 16

Supermarke oers 18

Sales discouns 19

Cash or gold 20

Buying goods know your righs 21

Cold callers 22

How o complain 23

PPI 24

Small prin 26

Fraud 27

3


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TV and broadband Phone conracsPay less o wach TV and ge online Ge a beter deal on your phone calls

Top Tip:Check hayou are reeo swichwihoubeing chargeda ee

Rip-OFac

9Mbpshe averagespeed o

broadband inhe UK

Look at your TV and broadband bills and write downthe ollowing:

Look at your home phone and mobile bills and writedown the ollowing:

Compare the cost o broadband services or thespeed and download limits you need using an onlinecomparison service. Ocom has a list o accreditedbroadband and TV comparison services. Contact them on

0300 123 3333 or 020 7981 3040 or visit ofcom.org.uk

Give the new broadband company your details andit will switch you over, normally within a ew days. Youmay also have to switch your home phone and pay ormonthly line rental with the new company.

Tips:

Consider using Freeview. You can get lots ochannels or ree including high denition (HD) channelsrom Freeview. All you need is a set-top box. All new TVsnow have Freeview built in.

It may be cheaper to get your home phone,broadband and TV rom the same company.

Top Tip:

Don payor phoneservices youdon need

Compare the cost o phone and mobile servicesusing an online comparison service. Ocom has a listo mobile and home phone accredited comparisonservices. Contact them on 0300 123 3333 or020 7981 3040 or visit ocom.org.uk. Check i youare ree to switch without being charged a ee.

Give the new company your details and it will switchyou over, normally within a ew days.

Tip:

Look at your past home phone and mobile bills andwork out when you use your home phone most. Withyour mobile, work out how many minutes o calls, textsand downloads you use.

6 7

Company name

Name o package

Speed o downloads Mbps

Monhly download limior unlimied downloads GB

Monhly cos

Cos per year (monhly x 12)

Broadband

Company name

Name o package (Spor, TV?)

Monhly cos

Cos per year (monhly x 12)

TV

Company name

Name o ari

Cos per monh

Cos o exras per monh

Toal monhly cos

Toal cos per year (monhly x 12)

Homephone

Company name

Name o ari

Conrac or Pay-as-you-go?

Inclusive call minues per monh

Inclusive exs per monhDaa allowance per monh

Toal monhly cos

Toal cos per year (monhly x 12)

M

obile


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Banking

Top Tip:Se up anoverdrain case oemergencies banks chargemore or

unauhorisedoverdras

Credi cards

APR sandsor AnnualPercenage Rae.I gives you anidea o howmany pence perpound i will coso borrow moneyper year. A 17%APR you will pay17p ineres perpound each year

JargonBuser

APR

Look at your bank statements and write downthe ollowing:

Look at your credit card statements and write downthe ollowing:

Is easy o swich your bank accoun Pay less or your credi card deb

I you arent happy with the service you getrom your bank, consider switching to another. Forinormation about bank accounts and how to switch,contact the Money Advice Service on 0300 500 5000and moneyadviceservice.org.ukor use an onlinecomparison service.

Switching bank accounts can be easier than youthink, as the new bank should move your Direct Debitsand standing orders or you. Remember to check thatthis has been done.

Tips:

Check i you are paying ees or a bank accountwith added benets, like breakdown cover or travelinsurance. I you arent sure, ask your bank. You couldbe paying or benets you dont need or already have, ormay be able to buy more cheaply elsewhere.

I you think you were mis-sold an account with amonthly ee, complain and ask or your money back.

Brush up on your maths skills to help you understandbank charges. Visit the BBC Skillswise website atbbc.co.uk/skillswise

I you owe money on a credit card, check i youcan move it to one with a 0% interest rate or a xedperiod. For help switching your credit card, contactthe Money Advice Service on 0300 500 5000 orvisit moneyadviceservice.org.ukor use an online

comparison service.

Apply or a new balance transer credit card and givedetails o the credit card you want to pay o. You will becharged a ee or each balance transer, typically 3%.So i you transer 1,000, it will cost around 30.

Tips:

I possible, always pay o your credit card bills inull, or you will pay high rates o interest. Set up a DirectDebit so you will always pay your credit card bill on timeand avoid charges.

Keep an eye on how much you owe and the cardscredit limit, so you dont go over it.

I your credit card company increases your interest rate,you can ask them to cancel the card and then you pay othe debt at the old rate. Credit card companies have togive you this option i they increase their interest rates.

8 9

Bank name

Name o bank accoun

Overdra limi

Monhly ee or bank accoun

Balance in accoun oday Bankdetails

Card 1 Card 2

Company name

Name o credi card

Credi limi

Ousanding balance

Ineres rae on purchases % %

Creditcar

d

Top Tip:Avoid usinga credi cardo wihdrawcash, as i

can be veryexpensive


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I you are worried about your debts, contact the

companies you owe money to as soon as possible.They may be able to help you with your debts andneed to know i you are having nancial problems.

Try not to panic. Get some ree debt advice rom theConsumer Credit Counselling Service on 0800 138 1111or the National Debtline on 0808 808 4000. CitizensAdvice can help you sort out money, legal and otherproblems or ree online, ace-to-ace and over the phone.Contact Citizens Advice on 08454 040506.

Tips:Its much more important to pay priority debts like your

mortgage or rent as you risk losing your home.

Write down what money you have coming in eachmonth and what you spend it on. Working out a budgetis a good way to see where your money is going and iyou could cut back on your spending.

Payday loans Dealing wih deb

Payday loans let you borrow money or a ew weeksto cover a shortall until you are paid. You can normallyborrow up to 1,000 or up to a month.

Payday loans are expensive when compared with other

ways o borrowing money, especially i you take outseveral payday loans in a row. When you take out apayday loan, a credit check will normally be carried out.

Alternatives to payday loans

I you are struggling to make ends meet, you can getadvice. See page 11 or more inormation about how todeal with debt.

Borrowing money using a credit card or an authorisedoverdrat on your bank account will usually be cheaper

than a payday loan. Beore taking out a payday loanyou could:

get help rom a credit union. Credit unions oerloans and savings accounts to their members in a localcommunity, organisation or company. Contact theAssociation o British Credit Unions on 0161 832 3694

check i you could get some money rom thegovernments Social Fund or emergencies. To nd outwhat help you can get, contact Turn2Us on

0808 802 2000 or Citizens Advice on 08454 040506.You can download a useul tool to help youcompare monthly and annual interest ratesrom the BBC Skillswise website atbbc.co.uk/skillswise/learners/rip-o-britain

Exampleo PaydayLoan cossHow muchdoes i cos oborrow 200or 28 days?

Typicalauhorisedoverdra, aannual rae o

14%: 2

Typical paydayloan, a annualrae o

1734%: 50

Wha o do i you are worried abou deb

Top Tip:

Make a liso yourdebs andprioriisehem

Work out how much you owe write downthe ollowing:

Choose he cheapes way o borrow money

10 11

Ren/morgage arrears

Loans secured agains propery

Council ax arrears

Uiliy bills arrears

Unsecured loans

Credi cards and sore cards

Doorsep loans

Oher - caalogues, riends

Toal

Debts

7,854he averageamoun each UKhousehold oweson credi cards,overdras andunsecuredloans

Rip-O

Fac


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SavingsGeting help wihyour fnancesHow o ge independen fnancial advice

Working out how best to invest your money or save oryour retirement can be very conusing. Independent

nancial advisers (IFAs) can help you understand andselect the right product. IFAs can normally help you buypensions, investments, lie insurance, income protectionand mortgages.

Its best to pay a ee or independent nancial advice asit means the adviser wont be tempted to recommend aproduct that would give them the highest commissionrather than the best product or you.

From January 2013, nancial advisers wont be allowed

to take commissions or selling products and will chargea ee instead. You can nd a local independent nancialadviser by visiting Unbiased at unbiased.co.uk,The Personal Finance Society on 020 8530 0852 orfndanadviser.org

Other places to get fnancial help

The Money Advice Service has an online nancialhealth-check tool to check how your nances are doing.Go to moneyadviceservice.org.uk

The site also has a budgeting tool to calculate howmuch money you have coming in each month and howmuch you spend on bills, debts, housing and ood.

Move your savings o ge a beter rae

Top Tip:Keep only asmuch moneyas you needimmediaeaccess oin your mainbankaccoun, asyou probably

ge litle orno inereson i

Work out how much money you have in savingsaccounts and write down the ollowing:

Check what interest rate you get on your savingsand move your money to another account i you nda better rate. Go to the Money Advice Service atmoneyadviceservice.org.ukto nd a better account.Or use an online comparison service.

I you pay tax and have savings, you could consider acash Isa. Cash Isas are just like other savings accounts,but the interest you get is tax ree.

Stocks and shares Isas are tax-ree investments instocks and shares.

Tips:

Locking your money away or a year or more in axed rate savings account could give you a higherinterest rate. Be aware that you normally cant getat your money during the xed rate period, oronly i you pay a ee.

Keep three to six months salary in savingsthat you can get to quickly in emergencies withoutbeing charged a penalty.

Top Tip:Spendsome imereviewingyourfnances andhink abougeting someindependenfnancial

advice

12 13

Accoun 1 Accoun 2

Bank or building sociey

Name o accoun

Ineres rae % %

Is his an Isa?

Balance in accoun

Savings


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PensionsPlan ahead or a more comorable reiremen

Top Tip:Sar savingor yourreiremenas early aspossible

Many people in the UK arent saving enough or theirretirement. Plan or your retirement so that you will havemoney to live on and do the things you want to do.

The earlier you start saving or your retirement, the better.

I your employer oers an occupational pension thenyou should consider joining it, or you will miss out onthe money the company will contribute.

I you dont have a pension, speak to an independentnancial adviser.

You can nd out how much you will get rom the statepension by getting a pension orecast rom the FuturePension Centre on 0845 3000 168.

I you already have a pension, you should check it tomake sure you will have enough money in retirement.I your pension wont give you the income you needin retirement, take some action now to help makesure it does.

From October 2012, i you dont have a work pensionand earn more than 8,105 a year, you may be enrolledautomatically onto a work pension and your employerwill make a contribution towards it. This is a government

plan to get more people to take out a pension.

The earlier you start saving, the better

The sooner you start your pension, the more you willhave to live on in retirement. I you saved 250 amonth rom the age o 30 to 65, you could have aprivate pension o 8,400 per year, but i you didntstart saving into a pension until you were 50, you mightonly get 2,500 per year to live on.

Typical private pension per year at age 65i you saved 250 per month:

Based on simplied long-term model o 7% annual growth, 1% annual managementcharge, 2.5% infation, 20k income. Actual pensions would vary and depend oninvestment returns.

Tips:

When you retire, you may need to buy an annuityto turn the money you have saved in your pensioninto a regular monthly income. You dont have to takethe annuity oered to you by your pension provider.Shopping around or your annuity could give you more

to live on in retirement.

How much you get rom an annuity will depend onyour age, gender and the type o annuity you choose.It can help to speak to an independent nancial adviser.See page 12 or more details on how to nd an advisernear you.

14 15

8,400

5,000

2,500

From age 30 From age 40 From age 50

Yearlypensionamount

Top Tip:Oher wayso saveor yourreiremeninclude Isas,propery orsocks andshares

14he number

o people inhe UK whodon save inoa workplacepension

Rip-OFac

million


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Top Tip:Pay heinsurancepremiumin ull iyou can;you couldbe chargedmore iyou chooseo pay by

insalmens

Insurance

Look at your insurance policies. Write down theollowing:

Save money on your insurance

I an insurancepolicy does no

provide cover orcerain hings,i will lis hemand call hemexclusions

JargonBuser

Exclusion

Wha wouldyou do iyou couldn

workbecause oillness?

16 17

Types o insurance Conens Buildings Car

Name o company

Monhly premium

Annual premium(monhly premium x 12)

No claims discoun(years or %)

Shop around or cheaper house or car insuranceeach year using comparison sites. You can alsocompare quotes by contacting insurance companiesdirectly. Some insurance companies arent included on

comparison sites. Its important that you make sure you get theright cover or you at the right price not just thecheapest policy.

Tips:

Read the small print always make sure you knowwhat is and isnt covered when you buy insurance. Lookout or extras you may not need, like legal expensesinsurance and breakdown cover.

Contents insurance is essential to cover yourbelongings rom re, food and thet.

Check your bank account and credit card to seei you are paying or any insurance or service you nolonger need, or dont remember signing up to.

Make sure you are properly protected

I you have children, a partner, or anyone you look aternancially, you may want to consider taking out lieinsurance. You may have some lie insurance coverthrough your job, but this might not be enough cover.

Ask your employer how long you will be paid i you areo work because o illness. You may also want toconsider other types o insurance:

income protection insurance will pay you an amounto money each month i you are o work ill and will payuntil you return to work or the policy ends

critical illness insurance pays a lump sum i you getseriously ill with certain lie-threatening illnesses

Get some independent nancial advice to make sureyou and your amily are properly protected. For inormation

on how to fnd a fnancial adviser, see page 12.

Maths and English skills can be very useul in challengingrip-os and getting a better deal or instance,comparing energy taris, understanding small print orwriting a letter o complaint.

BBC Skillswise is a website aimed at adults who wantto boost their maths and English skills. Better skills canhelp you get the best deals or you and your amily.

Youll nd videos, quizzes and tips to helpyou learn practical skills like:

working out percentages

skim-reading text

writing a letter.

To try it out, visit bbc.co.uk/skillswise


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Can you fndhe bes deal?

Be careul o sales discounts when you go shopping.Use our guide to compare the dierent deals.

Compare the discount:

How to work out the fnal price on a calculator: Work out what per cent is let to pay e.g. 25% oleaves 75% let to pay.

Divide this by 100 (per cent means per hundred).

Multiply this by the price.

Example: 70 sunglasses, 25% o.

25% o leaves 75% let to pay.

75 100 = 0.75.

0.75 x 70 = 52.50 to pay.

Mobile percentage calculator:

For a ree quick percentage calculator or Androidand iPhones, text SKILLSWISE to 81010. Or visitbbc.co.uk/mobile/learning/skillswise/

on your phones browser.

Text messages to Skillswise cost around 12p to 15p depending

on your network provider. Compatible with most Android phones

and iPhones and some other handsets.

Supermarke oersPay less or your weekly shop Are you geting a good deal?

Top Tip:Wrie a lisbeore yougo shopping his mayhelp you ojus buy he

iems hayou need

The cost o weekly ood shopping has gone up in thepast ew years, so it is important that you shop around toget a good deal.

Supermarkets have lots o clever ways to get us to spend

more than we want, such as special oers and buy oneget one ree deals. Some o the discounts may not besuch a bargain, or may be there to get you to buy morethan you planned to.

Check that you are getting a good deal by working outthe cost per item or kilo or litre so you can compare.

You can nd out i you could save money on your weeklyshop using mysupermarket.com. It lets you checkonline how much your weekly shop costs at ve o the

big supermarkets Asda, Ocado, Sainsburys, Tescoand Waitrose. You can also check the price o health andbeauty products including Superdrug and Boots.

Tips:

Try own brands they are usually cheaper and youmight like them.

Check that you are getting a good deal by workingout how much one item costs. You may be better obuying ewer single items.

Brush up on your maths skills to help you work outsupermarket deals. Visit BBC Skillswise atbbc.co.uk/skillswise

Sales discouns

18 19

A

B

C

Cereal (750g)

2.49

Cereal (500g)Buy one get

one ree!

2.49

Cereal (1kg)

Megapack!3.24

Top Tip:Mulibuyoers doyou needmore hanone or anya all?

or

or

or

or

25%OFF 33%OFF 50%OFF

Buyonegetonehalfprice

Buytwoget

onefree

Aquarteroff

Buyonegetonefree

halfprice

Athirdoff

3for2or

Answer:B2.49perkilo


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As the price o gold is high, there are lots o companiesthat buy gold on the high street and online. By shoppingaround, you may be able to get a better price or yourgold. Sending your gold in the post could be risky andyou may not get the price you were promised.

Working out the value o gold

You can estimate the value o your gold yoursel (seebelow). Shop around to nd out how much your gold,

jewellery or other items are worth. Ask a couple o highstreet jewellers how much they would pay or your gold.

Dont be araid to haggle to get the right price or to playone jeweller o against another.

How to estimate the value o your gold

You can estimate the value o your gold in three easysteps. All you need to do is to nd the hallmark purity, theweight in grams, and the current price o gold per gram.

Find out the purity o your gold. It usually has a3-gure hallmark stamp showing the purity. Imagine adecimal point in ront o it. For instance a hallmark o 375means each gram contains 0.375 g o pure gold. I youonly know the carat purity, convert with the chart onthe right.

Weigh your gold in grams. You can buy a digitaljewellery scale or around 5.

Look up the current price o gold in per gram online.Oten the gold price is quoted in US dollars per Troyounce, so make sure you look up the price in Britishpounds per gram.

Cash or gold Buying goods know your righsWha o do i somehing goes wrong

Under the Sale o Goods Act 1979, when you buysomething rom a shop you could get a reund or repair

i the item: doesnt work properly

is not the same as advertised

breaks down sooner than it should.

The shop can choose whether to replace or repair thegoods. You also normally have up to a ew weeks to returnaulty goods and get a reund.

Changing your mind

What you can do i you change your mind depends onwhat you are buying and where you buy it:

when you buy something online, by phone, mail order,or on your doorstep, you usually have seven working daysto change your mind and get a reund

with credit agreements, like credit cards or loans, youhave 14 days to change your mind

you have 14 or 30 days to change your mindwhen you buy insurance, but you may be charged a eei you cancel

i you buy something in a shop and change your mind,you dont have the right to return the item or a reund. Butthe shop may let you return it or a reund or exchange i ithasnt been used and can be sold to someone else.

I you are unsure o your rights, contact Citizens Adviceon 08454 04 05 06.

20 21

Top Tip:I somehingyou buybreaks downouside ohe one orwo yearwarrany,you can sillask he shopo give you areplacemenor to repair it

How o ge a good price or your gold

X X =

Gold price( per gram)

Estimated valueo your gold

Hal lmark purity Total weight ingrams

0. g Hallmark(parts per1000)

Carats(partsper 24)

24

22

18

14

999

916

750

585

375 9

August2002

August2012

6

33

Rise ingold priceper gram

Puriy ogold


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Cold callers

Cold callers can be a nusiance. Here are some simpleways to deal with them.

Dont lose your temper. Be polite but rm. I thecaller reuses to go away, hang up. I you are worried

about a call, tell your riends or amily, or get someadvice. Dont give away personal or nancial inormationto cold callers.

Ask cold callers to remove your inormation romtheir records. They must do this by law. I the samecompany calls again, complain to the InormationCommissioners Oce on 0303 123 1113 orvisit ico.gov.uk

Register or ree with the Telephone PreerenceService to reduce the number o sales and marketingcalls on 0845 070 0707 or tpsonline.org.uk

Tips:

Be careul which boxes you tick and untick whenyou sign up to services online or in writing. Decide iyou really want your details to be used or marketing,or passed on to other companies.

You may be able to block all callers that hide theirphone number, although this could mean you misscalls you want to receive.

Dont call back phone numbers let on yourvoicemail, or reply to text messages you dontrecognise. The cost o the call could be expensive,or it could be a scam.

Please do nocall his numberagain andremove my name,phone numberand any personalinormaion romyour records

Wha o say ocold callers

How o complain

You can normally make a complaint in person, byphone, email, or in writing. You should:

explain calmly what the complaint is about and saywhat you would like to be done to sort it out

include details o the steps you have taken to try tosolve the problem with the dates and times o anycontact with the company. Include reerence,account, or order numbers

send copies o receipts, contracts, invoices orbank statements and give the company a deadline torespond to your complaint

claim compensation or your distress andinconvenience or example, the time it has taken

you to sort out the problem or any expenses you haveincurred, like phone calls.

How to complain to an ombudsman

I the company doesnt respond to your complaint ordoesnt deal with it to your satisaction, you may beable to complain to an ombudsman or ree.

Contact the Financial Ombudsman Serviceon 0800 023 4567 or 0300 123 9123. You cancontact the Communications Ombudsman on

0330 440 1614 or 01925 430 049 and theEnergy Ombudsman on 0330 440 1624or 01925 530 263.

For a guide to writing a letter o complaint,visit the BBC Skillswise website atbbc.co.uk/skillswise/learners/rip-o-britain

Top Tip:I hecompanydoesn dealwih yourcomplainsaisacorily,you maybe able ocomplaino anombudsmanor ree

How o deal wih unwaned phone calls How o make a successul complain

22 23

Top Tip:

Going ex-direcoryshouldreduce henumber ounwanedcalls you ge


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Top Tip:Check i youhave beenmis-sold PPIwih a loan,credi cardor morgage

Paymenproecioninsurance isan insurancepolicy oen soldwih fnancial

producs ha isdesigned o coveryour repaymensi you are unableo work becauseo illness orunemploymen

JargonBuser

PPI

The mis-selling o PPI is a huge problem. Thousands opeople have already successully claimed reunds romtheir bank or credit card company.

Check your bank, credit card and mortgage statements

to see i you have been sold PPI. I you arent sure, askyour bank, credit card or loan company i you weresold PPI in the last 10 years, or more. Companies otendidnt sell PPI properly, so you may be able to get yourmoney back.

You may have been mis-sold PPI i:

youweretoldthatyouwouldonlygettheloan,

mortgage or credit card i you also took out PPI

PPIwasaddedautomaticallyandyouwerenottoldit

was optional

PPIwasntsuitableforyoubecauseyouwereself-

employed, on a contract, or a part-time worker, or i youwerent working, were retired or unemployed

youwerenttoldwhatthepolicycoveredordidnt

cover. For example, that medical problems you had whenyou took out the policy wouldnt be covered.

I you think you may have been mis-sold a PPI policy,

make a complaint to your lender and claim a reund.

You dont have to use a claims management company(CMC) to make the complaint. Most CMCs will chargearound 25 to 30 per cent plus VAT o the compensationyou receive.

For help making your PPI complaint, contact the FinancialOmbudsman Service on 0800 023 4567 or 0300 1239123 or visit fnancialombudsman.org.uk

PPIPaymen Proecion Insurance mis-selling

Sample PPI complaint letter rom Which?

For more tips on reclaiming PPI and a link to a copyo this letter you can edit yoursel, visitbbc.co.uk/skillswise/learners/rip-o-britainPPI

24 25

Dear Sir/Madam,

Re: [insert your credit reference number and the policy number of your PPI

e.g. Personal Loan reference ABCDEFG / Payment Protection Policy No: 123456]

I purchased the above policy from you in [insert month and year] in connection with the [mortgage/loan/credit card/store card/finance agreement] referenced above.

I believe that I was mis-sold this policy for the following reason(s): [Include the following reasonsthat apply to you and delete those that dont]

I was not told that the insurance was optional.

I was led to believe that my application for credit would be rejected if I did not take outthe insurance. The policy exclusions were not explained to me either before or at the time I took out the

insurance. I was therefore unable to make an informed decision as to whether this

insurance was appropriate for me. I now believe the insurance was unsuitable for me as I was suffering from [insert name

of any medical condition you had at the time you took out the policy] at the time I took

out the policy and was not made aware of the specific exclusion which relates to pre-existing medical conditions.

I now believe the insurance was unsuitable for me as I was [self employed / unemployed/ in temporary employment / on a fixed term contract/retired] at the time I took out the

policy and was not made aware of the specific exclusions relating to unemployment cover. The policy was unsuitable for me as I was over the maximum age of [insert maximum age].

It was not explained to me that the policy premium would be paid upfront as a singlepremium and would be added to my debt and attract interest.

The insurance [has expired / will expire] before my loan/credit agreement ends whichmeans I [am paying / will be paying] interest on a policy which is no longer in force. This was

not made clear to me at the time the policy was sold to me.

If my complaint is upheld I require a refund of all premiums paid to the policy, plus any additionalinterest charged to me because of the PPI. I would also like to claim statutory compensation in view

of the fact that I have been deprived of the use of this money.

Please now investigate my complaint within the eight weeks allowed to you.

Yours faithfully[Print and sign your name]

[Your address][Date]

[Address of PPI provider]


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Small prin

Most people dont read all the small print when theysign up to online services, buy goods and services, orinsurance. But by not checking what you are signingup to, you could be caught out by hidden ees andcharges, or have a nasty surprise when you come toclaim on your insurance. I possible:

read the terms and conditions or small print o everycontract you sign up to, including online. Skimmingthrough a document is better than not reading it at all

spend more time looking at contracts or expensivegoods and services and when you deal with businessesyou dont know well

pay attention to ees and charges and what yourresponsibilities are.

Tips:

Always read contracts and make sure youunderstand what you are signing up to. Speak to riendsor amily, or get some advice rom Citizens Advice on08454 040506 or some legal advice rom CommunityLegal Advice on 08453 454 345.

Dont sign up to contracts straight away over thephone. Instead, ask or inormation to be sent to you.

Watch out i you sign up to ree online trials as you

could be signing up to a monthly subscription.

You can nd more advice on understandingsmall print on the BBC Skillswise website atbbc.co.uk/skillswise/learners/rip-o-britain

It is very easy to lose money to scams, so you need tobe careul at all times. Some scams to watch out or:

get rich quick scams phone calls advising you toinvest in shares that dont exist or are worthless, or to

buy land that is actually o little or no value emails asking or your personal or bank details

emails or letters that say you have won the lottery orhave money waiting or you i you pay a ee.

What to do i you have been scammed

I you think you are being scammed, stop giving thecompany or person any money or personal detailsand speak to amily or riends to get some advice. Iyou have given them your bank details, tell your bank

immediately. Report it to the police and Action Fraud,the UKs national raud reporting centre, on0300 123 2040.

Tips:

Only deal with nancial rms authorised by theFinancial Services Authority (FSA). You can check ia rm is authorised by calling the FSAs register on0845 606 1234.

Be wary i you are asked to pay money upront or are

put under pressure to act quickly and not tell anyone.

Top Tip:

I you donundersandi, donsign i

FraudDon le raudsers cach you ouHow o deal wih small prin

Top Tip:I somehingsounds oogood obe rue, iprobably is!

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