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Don’t. Sign. Without. Reading.

, , , , , , | Right | CREDIT: B007833 | December 20, 2020

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 no one 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:

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 [number] weeks of returning.”

At least eight times a day, I’d have to explain to a customer that they weren’t receiving their refund for whatever amount due to their account being in bad debt status and how we’d reduced their debt for their own benefit as per the instruction under their signature. It was amazing how many customers had already spent their refunds before receiving them and thought 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 receive their refunds.

Luckily, we were the accounts managers; there was no one to escalate to, and we just held firm until they gave up. I loved that job.

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