Monument Credit Card PPI Claim

TheGenerus1 · 12 July 2012 at 4:17AM

Hi,

Has anybody tried to claim their PPI (Payment break plan I think they call it) back from Monument.

My Monument account was opened in 2003 and is still currently open with a balance on it. The account was taken over by Raphaels Bank PLC last year but still mention Monument as the contact address and telephone number.

I setup my current account to take the minimum monthly payment on the monument account (a few years ago) plus I make a additional payment monthly of £10 extra to get the balance down.

I have just noticed that I have been paying the payment break plan as well, which I do not think I asked for.
I have statements going back several years with the Payment plan being added.

Does anyone know who I should go through to try and claim back this PPI, Raphaels Bank or Monument?

What should I sent them in regards to paper work or is there a template letter I could send them? As I said I have all the statements as evidence.

It's not a huge amount, only about £7 a month or about £500 over the 6 years, but anything is better then nothing.

One last thing, does it matter that my monument account is still active and showing a balance that I am still paying down (It shows up in all my CRA report with green ticks going back 6 years).

Hope someone can help me and share any experience with claiming Payment break plan charges back from Monument.

Daz68 · 27 July 2012 at 2:08PM

Hi
Which? have a very helpful part of their website dedicated to PPI with forms telling you exactly what to do.
I also had a Monument credit card and I am finding it impossible to find out how to contact them to check if I was mis-sold PPI. Any tips would be very welcomed.

Thanks

TheGenerus1 · 27 July 2012 at 4:15PM

Daz68 wrote: »

Hi
Which? have a very helpful part of their website dedicated to PPI with forms telling you exactly what to do.
I also had a Monument credit card and I am finding it impossible to find out how to contact them to check if I was mis-sold PPI. Any tips would be very welcomed.

Thanks

Thank you for that info mate.

I have now used the template letter on the Which? website to begin my claim.

Template letter sent to:-

Complaints Manager,
Monument Customer Services,
51 Saffron Road,
Leicester,
LE18 4US

Daz68 · 27 July 2012 at 5:09PM

Brilliant. Thanks.Really useful

rodsbaby · 10 August 2012 at 9:04AM

Never in a million years dreamt I would get my money back , but this is the address to send your claim too, definitely will get dealt with , good luck

Carole O'Neill
Customer relations
Monument
51 Saffron Road
Leicester
lE18 4US

Dunree · 10 August 2012 at 10:51AM

I've been looking for that info for ages, thank you very much

TheGenerus1 · 11 August 2012 at 1:40AM

It's been 2 weeks now and no response yet, not that I am expecting them to have resolved my PPI claim already. No acknowledgement that they have received my letter and that they are dealing with my claim.

I have noticed though on my new statement that I received yesterday that the Payment Break Plan is no longer showing and that it has been removed.

I hope this was the first acknowledging step by Monument in my PPI recovery process.

I will continue to post my correspondences and outcome from Monument on this thread.

TheGenerus1 · 13 August 2012 at 2:40AM

rodsbaby wrote: »

Never in a million years dreamt I would get my money back , but this is the address to send your claim too, definitely will get dealt with , good luck

How long did monument take to process your claim?

Thanks.

TheGenerus1 · 28 August 2012 at 4:55PM

Just got a reply letter back from Monument saying that they looked into my claim and are not refunding me the PBP as I made a claim on it, therefore considered that I was not mis-sold the product.

I opened the account in 2003 and was sold the PPI then. I was made redundant in 2005 for which I made the claim. I phoned them up a few months later to stop the claim (ending the Payment break plan) as I was employed again and asked for my account to be closed (I would then pay the balance down every month till it was payed off, interest still being charged).

I thought that seeing as I ended the Payment break claim by continuing to pay monthly payments and closing down the account, that they would have to resell me the Payment Break plan again as I already claimed and stopped claiming once I was employed again.

Instead the PBP was automatically put back every month for six years.

Should they have asked me whether I wanted the PBP again are are they entitled to just add it back on without my consent?

Can anybody give any advice where I stand on this.

They say I have six weeks to reply them with a dispute.

Thanks

tomsco · 28 August 2012 at 7:57PM

TheGenerus1 wrote: »

Just got a reply letter back from Monument saying that they looked into my claim and are not refunding me the PBP as I made a claim on it, therefore considered that I was not mis-sold the product.

I opened the account in 2003 and was sold the PPI then. I was made redundant in 2005 for which I made the claim. I phoned them up a few months later to stop the claim (ending the Payment break plan) as I was employed again and asked for my account to be closed (I would then pay the balance down every month till it was payed off, interest still being charged).

I thought that seeing as I ended the Payment break claim by continuing to pay monthly payments and closing down the account, that they would have to resell me the Payment Break plan again as I already claimed and stopped claiming once I was employed again.

Instead the PBP was automatically put back every month for six years.

Should they have asked me whether I wanted the PBP again are are they entitled to just add it back on without my consent?

Can anybody give any advice where I stand on this.

They say I have six weeks to reply them with a dispute.

Thanks

Although I do not know the specific laws in regards to PPI, as far as other forms of insurance go, you don't stop being insured when you make a claim (ie. car insurance/car crash). You informed them when your claim period was over, so they reinstated the premiums.

TheGenerus1 · 29 August 2012 at 12:00AM

tomsco wrote: »

Although I do not know the specific laws in regards to PPI, as far as other forms of insurance go, you don't stop being insured when you make a claim (ie. car insurance/car crash). You informed them when your claim period was over, so they reinstated the premiums.

Thanks for your input.

I do hope this is not the case though and hoped that any claims and closures of a claim would nulify that insurance. Then a new insurance plan would have to be signed for if I wanted to take out the plan again to cover me if the reduncy etc should ever happened again.

Monument Credit Card PPI Claim

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