Financial windfall, lucky or a reward for banking skullduggery?
By ajk111
@ajk111 (2495)
October 14, 2012 7:25am CST
I recently got a nice PPI payout and a godsend it has turned out to be.
For those not familiar with PPI (Payment Protection Insurance) has been around for decades and was intended to safeguard both the banks and financial consumers in the event that they suffered from unforeseen circumstances that impacted on the ability to repay a loan or other financial package.
It was only 1998 however that it came to light that PPI was widely being mis-sold, failing to protect financial consumers and adding significant revenue to banks and the financial sector. The courts ruled it illegal and the banking sector has had to pay back millions to the public.
This money has come at a great time. for the first time in years we have got our kids good christmas presents and we are stress free from the usual xmas worries.
What would you do if you suddenly got several thousand pounds given to you?
I treated myself to a new aquarium which i have put in 2 fantails and a goldfish while i wait 6 weeks to stock up on the tropical fish.
4 responses
@grandpa_lash (5225)
• Australia
17 Oct 12
A year or so ago we wrote our car off (blinded by the setting sun I ran under the back of a parked semi), and in our desperation to get a new one, since we live in a rural area where a car is an absolute necessity, we applied for early release of part of my partner's superannuation. It wasn't a great sum, but after we bought the new car we had a couple of thousand left over, and the difference that made to our lifestyle is almost impossible to believe. We have not struggled to put food on the table since.
Lash
@grandpa_lash (5225)
• Australia
19 Oct 12
I'm immensely grateful we had that fallback. For various reasons, at the moment Australia's economy is one of, if not the strongest economy in the world, but last week figures came out which show that one person in every eight in Australia is living below a not very generous poverty line. It reminds of the incongruity of homeless beggars pitching outside some of New York's financial centres - homelessness and abject poverty side by side with obscene levels of wealth, mostly unproductive wealth at that.
It's a funny old world possums.
Lash
@ajk111 (2495)
•
19 Oct 12
i am on a 4 day week on minimum wage and another 3 people got paid off today so i completely understand that.
i met my wife in unpleasent circumstances and now i am stuck in a low income area. the wife does not understand this as i used to earn good money but gone are the days when someone my age can get a good job due to the economy and my age.
none the less, i am glad for small mercys like the PPI payment.
@much2say (53958)
• Los Angeles, California
16 Oct 12
Sounds like you got a nice chunk of moola 
! I think I am too practical and would use it for some much needed project to be finished around here. Maybe I'd get that half bathroom fixed up once and for all . . . it's pretty much unusable at the moment. Maybe I'd get some real lawn and landscape in . . . instead of having this sanctuary for zombie plants/weeds. Maybe I'd get the side yard tiled and bricked into the bbq area my hubby dreams of. Maybe I'd get a dream kids club house so they have an fun place to hang out.
Most likely I'd shove this money into an account because I would never be able to make up my mind!!!
! I think I am too practical and would use it for some much needed project to be finished around here. Maybe I'd get that half bathroom fixed up once and for all . . . it's pretty much unusable at the moment. Maybe I'd get some real lawn and landscape in . . . instead of having this sanctuary for zombie plants/weeds. Maybe I'd get the side yard tiled and bricked into the bbq area my hubby dreams of. Maybe I'd get a dream kids club house so they have an fun place to hang out.
Most likely I'd shove this money into an account because I would never be able to make up my mind!!! 
@JenInTN (27514)
• United States
15 Oct 12
Wow..that is great. I think that there are a lot of insurances out there that take advantage of consumers. Great to hear they are paying some back.
I would probably treat myself too. Maybe go on a little trip or something.
I love aquariums..especially the salt water ones.
Where would your dream destination be?
@randylovesdar (4932)
• United States
15 Oct 12
That is great that you will have a stress free Christmas this year and that you will have extra money to buy yourself a present. I am trying to set up a budget for Christmas this year so I can get presents. I am working on my craft projects and will be selling my ornaments online next month. I have been working so hard to get things done and am feeling stressed.
