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Author Topic: Next new selling scandal after PPI?  (Read 3126 times)
oliver90owner
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« on: September 09, 2019, 08:03:52 AM »

https://www.bbc.co.uk/news/uk-england-49566130

Anyone who bought a sub-standard PV system at excessive cost (from the cowboy companies) and high interest rates (some were charged) were duped?  I expect so.  I’m actually surprised that some ‘rent-a-roof’ companies are not going the same way.

PV systems bought after proper (honest) advice, with cash and at reasonable installation cost are good value, but some of these cowboys were selling poor systems (in less than optimum situations) and at extortionate profit (both from the capital cost and interest rates) along with sales people actually lying (or at least not telling the whole truth) re the generation to be expected.

Of course, it is also down to those who were duped - buying from a company on the advice of only their own dodgy sales people and without other comparative system prices, not checking out the company (those set up by directors who have run previously failed companies, per eg), and spending money they clearly did not have.

The alternative scenario might be that some of these buyers don’t care and expect to get handsome compensation if the results do not fit the forecast.  Guess who pays for this compensation, after these dodgy companies have been liquidated!

« Last Edit: September 09, 2019, 08:07:33 AM by oliver90owner » Logged
TT
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« Reply #1 on: September 09, 2019, 08:09:34 AM »

I think Pensions will be the next PPI not solar
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JohnS
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« Reply #2 on: September 09, 2019, 09:13:24 AM »

A lot of the cowboy companies will have been wound up by now.  So no big pot of money to pay out of.
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Countrypaul
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« Reply #3 on: September 09, 2019, 09:52:37 AM »

But the banks made a lot of the loans:

https://www.bbc.co.uk/news/uk-england-49566130
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RIT
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« Reply #4 on: September 09, 2019, 11:11:04 PM »

The PV market is not regulated in the way that the financial market is, so it is far more 'buyer beware'.

PPI reclaims became a very simple process of anyone having been sold it being eligible for a refund with a high-interest rate on the money involved unless the lender could prove that the sale of PPI was 100%. This was possible because the regulator just set the rules that all PPI sellers then had to follow. For a market such as PV each company will have to be taken to court and the few still in business have few assets to pay out claims. 
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pantsmachine
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« Reply #5 on: September 10, 2019, 07:29:00 AM »

Should be tick'd out cars next.
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dan_b
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« Reply #6 on: September 10, 2019, 12:49:54 PM »

https://www.bbc.co.uk/news/uk-england-49566130

2000 complaints so far
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