PPI Reclaiming Discussion part 4

di3004

mariner46 wrote: »

Thanks for your comments.I'll update as and when.
mariner46

Your very welcome, fingers crossed.;)

stereo_mike

Just a quick note to let people know that the FSA have released a very boring 170 page document on how firms should handle PPI complaints. I'm sure someone will put a summary of the main points on here, thats if they have managed to stay awake whilst reading it. Although not gospel yet, its looking to come into force this year.

Link is below: -

http://www.fsa.gov.uk/pages/Library/Policy/CP/2010/10_06.shtml

annetta123

I having recently cancelled a PPI with Barclaycard, because I have been retired for a few years. I retired at age 53, but I am now 61 and, it only recently dawned on me that there was little benefit in keeping this PPI, which I thought I had to have with any credit card or loan.

But, my question is this. How can I find out if I can get any of this money back. Until 16th February I was paying £82 per month PPI to B.Card. I cancelled this by phone, because I thought it would make a difference to my minimum monthly payment, only to discover this month it's not made any difference at all to my minimum. They assured me on the phone that my balance will fall as a result (can't get my head round that one). I'm confused.

I also have other credit cards, a loan which expires at the end of 2011 or 2012 can't recall until I check, with RBS which is £332 a month. I'm finding things very tough at the moment.

Hope someone can tell me what my first step should be. Incidentally, when I rang Barclaycard telling them to cancel the policy, I had no problems with them, other than pointing out the other benefits i.e. death. I'm not worried about death benefits as there will be more than ample equity in my house to clear outstanding debts I think.

Also wondered if anyone can tell me what would happen if I found I could no longer pay the minimum each month on my credit cards. I'm very worried as I'm finding it so difficult right now.

thriftymoo

annetta123 wrote: »

I having recently cancelled a PPI with Barclaycard, because I have been retired for a few years. I retired at age 53, but I am now 61 and, it only recently dawned on me that there was little benefit in keeping this PPI, which I thought I had to have with any credit card or loan.

But, my question is this. How can I find out if I can get any of this money back. Until 16th February I was paying £82 per month PPI to B.Card. I cancelled this by phone, because I thought it would make a difference to my minimum monthly payment, only to discover this month it's not made any difference at all to my minimum. They assured me on the phone that my balance will fall as a result (can't get my head round that one). I'm confused.

I also have other credit cards, a loan which expires at the end of 2011 or 2012 can't recall until I check, with RBS which is £332 a month. I'm finding things very tough at the moment.

Hope someone can tell me what my first step should be. Incidentally, when I rang Barclaycard telling them to cancel the policy, I had no problems with them, other than pointing out the other benefits i.e. death. I'm not worried about death benefits as there will be more than ample equity in my house to clear outstanding debts I think.

Also wondered if anyone can tell me what would happen if I found I could no longer pay the minimum each month on my credit cards. I'm very worried as I'm finding it so difficult right now.

Hiya

Just a quick note with regard to what you were saying about being worried about not meeting minimum repayments on your credit cards. I'd advise getting in touch with either citizens advice or the cccs, details for both are available on the site. They'll look through you're budget and see what advice they can give you regarding this.:A

Hope that helps x

di3004

annetta123 wrote: »

I having recently cancelled a PPI with Barclaycard, because I have been retired for a few years. I retired at age 53, but I am now 61 and, it only recently dawned on me that there was little benefit in keeping this PPI, which I thought I had to have with any credit card or loan.

But, my question is this. How can I find out if I can get any of this money back. Until 16th February I was paying £82 per month PPI to B.Card. I cancelled this by phone, because I thought it would make a difference to my minimum monthly payment, only to discover this month it's not made any difference at all to my minimum. They assured me on the phone that my balance will fall as a result (can't get my head round that one). I'm confused.

I also have other credit cards, a loan which expires at the end of 2011 or 2012 can't recall until I check, with RBS which is £332 a month. I'm finding things very tough at the moment.

Hope someone can tell me what my first step should be. Incidentally, when I rang Barclaycard telling them to cancel the policy, I had no problems with them, other than pointing out the other benefits i.e. death. I'm not worried about death benefits as there will be more than ample equity in my house to clear outstanding debts I think.

Also wondered if anyone can tell me what would happen if I found I could no longer pay the minimum each month on my credit cards. I'm very worried as I'm finding it so difficult right now.

Hi there

Yes I see your point why you want to cancel and you should be able to do this anytime.
Although you have done this, it seems you are still paying the same amounts.
Did they mis sell the ppi do you know?

Check here on the below link, if so you should be able to reclaim all you have paid in ppi, plus interest etc.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
I would also make sure they have cancelled the ppi on this if you can.


If you no longer have the policy details request for these, they should still send you them on request even if you cancelled, meanwhile hopefully someone will post up with some help and advice who have had the same dealings with these with what you have also been through with these.

If in difficulties, I would post on the thread called debtwannabe thread, where many in the same position will advise and tell you the best action to take, or you can of course start your own thread on that actual link here:
http://forums.moneysavingexpert.com/forumdisplay.html?f=76

Good luck with this.;)

annetta123

Thank you for your advice on this and my previous topic.

I don't know how I ended up in this sad position, but it is a huge worry to the point that I can't sleep or I'm afraid to answer the phone.

I can't believe it.

Once again I'll check out what you've suggested.

lucieloo

any advice on this would be appreciated, i have received an answer phone message from capital one who brokered my loan in 2001, their 8 weeks is up next week and the lady dealing with it has stated she only received my complaint a week ago which is a lie anyway the message she left she said a letter is due back in her office today and i will receive it by friday? any ideas? she has totally thrown me.

shoe_2

Hi All,
Some advice please I have had a letter back from Lloyds tsb re insurance that I was paying for my credit card. The letter states that the complaint is being looked into but this will take some time to look into !!! How long should I give them ? xxx Any advice please

shoe_2

annetta123 wrote: »

Thank you for your advice on this and my previous topic.

I don't know how I ended up in this sad position, but it is a huge worry to the point that I can't sleep or I'm afraid to answer the phone.

I can't believe it.

Once again I'll check out what you've suggested.

Good luck hope everything works out !! When I was in your postion I telephoned them and made a arrangement for a small payment, my payment should have been 85.00 but I agreed to pay 20.00 and they was fine I just had to write down my income and outgoings xx:( and they reduced the rate of interest !!
Good luck x

annetta123

Shoe
thank you for this. I'm really bad at the confrontation thing and, get very embarrassed by it all.

thanks for your advice.