Barclays Loan PPI Cancelling/Reclaim - Advice appreciated

2

Comments

  • Sorry pressed wrong button lol.

    No claims no, I only wanted to cancel it and not reclaim it. I had a letter the other day saying tough basically.

    They can not guarantee the loan rate applicable on the day, I do not think 17.5% is fair.
  • marshallka
    marshallka Posts: 14,585 Forumite
    julesmum23 wrote: »
    Sorry pressed wrong button lol.

    No claims no, I only wanted to cancel it and not reclaim it. I had a letter the other day saying tough basically.

    They can not guarantee the loan rate applicable on the day, I do not think 17.5% is fair.
    I would contact them again as you should be entitled to cancel the PPI if this is what you are wanting to do. Was it a single premium? Are they perhaps saying that you would need another loan in order to cancel it?

    If they have said no I would contact the FSA and tell them as they should allow you to do this. It in their treating customers fairly policy. Also when they have to redo the loan as most do then it should be done at the same rate and terms as before. You should also be entitled to a refund of the policy on cancelling too.
  • Thank you.

    Do you know if there any template letters I can use for this?
  • marshallka
    marshallka Posts: 14,585 Forumite
    Juliesmum, this may help in you writing your letter. You should be allowed to cancel the PPi and even if they have to redo the loan you should be treated fairly in the redoing of it too.

    http://www.fsa.gov.uk/Pages/Doing/Regulated/consumer/tackle/ppi.shtml
  • Thank you, I have written another letter quoting the part about fairness in recalculating the loan.

    I will let you know how I get on.
  • marshallka
    marshallka Posts: 14,585 Forumite
    julesmum23 wrote: »
    Thank you, I have written another letter quoting the part about fairness in recalculating the loan.

    I will let you know how I get on.
    Yes, please do.;)
  • Just got a letter back saying they need til the 10th of March now which is the 8 week date ... gits !!!
  • di3004
    di3004 Posts: 42,579 Forumite
    Just got a letter back saying they need til the 10th of March now which is the 8 week date ... gits !!!


    Hi ChrispyDuck

    I do hope its a good outcome, fingers crossed.;)

    Di
    The one and only "Dizzy Di" :D
  • KT21_2
    KT21_2 Posts: 31 Forumite
    Hi crispy duck
    Just Letting You Know-barclays Sent Me A Letter Dated The Day Before The 8 Week Deadline-was up asking for More Time .that Was On The 4th Jan And Im Still Waiting.its Now With The Fos .I call Barclays every week for update but they wont tell me anything just that they are still looking into it.Be prepared for a long wait.
  • niknak79
    niknak79 Posts: 5 Forumite
    Hi i wrote to barclays in january and my husband wrote to hsbc - both about mis-sold ppi s my husband got a refund plus intrest within a month!!!! barclays are still dragging their feet and hopping i will go away!!!!! i sent a letter to the fos this week as its way over the 8 week mark now (in fact 6 months!!) with no final decision !!!!!! - has anyone acctually had money back from barclays.

    mine was a student loan they look away my overdraft on the day of graduation and demanded theor money back offered me a loan made me take it over 8 year as i had no job and said i had to take ppi or i would not get the loan..... the were appauling! every time i went in their as a student they offered to increase my overdraft!!!!!!!
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 342.5K Banking & Borrowing
  • 249.9K Reduce Debt & Boost Income
  • 449.4K Spending & Discounts
  • 234.6K Work, Benefits & Business
  • 607.1K Mortgages, Homes & Bills
  • 172.8K Life & Family
  • 247.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards