PPI Reclaiming Discussion part 4

robbedofmymoney

cocker100 wrote: »

But this is impossible as the PPI is just part of the total balance of the card.

There are only three types of balance on a credit card.

Purchases (This would include PPI)
Cash Advances
Balance Transfers

New transactions are simply included in one of these 3 categories and added to that rolling total.

There is no way of telling when each purchase has "dropped off" the balance so to speak. Statements just provide a total balance and a breakdown of the balance for each of the three categories, as each category is usually charged at a different interest rate.

Cocker:)

if you are really not satisfied with what your lender is saying and the figures they have given, you have 3 options, write to them with the figure you estimate they owe you with the reason why they differ from theirs and see what they come back with, accept their offer, or take your complaint to the FOS.

cocker100

robbedofmymoney wrote: »

if you are really not satisfied with what your lender is saying and the figures they have given, you have 3 options, write to them with the figure you estimate they owe you with the reason why they differ from theirs and see what they come back with, accept their offer, or take your complaint to the FOS.

Hiya,

Thanks again for your input.

I've already questioned their figures with them. They wrote back stating that their calculations were "in accordance with the guidance we have received from the Financial Ombudsman Service".

They ask for the return of the settlement form within 14 days and that the letter is their final response on the matter.

To be honest £3000 is £3000 and would be nice to have in my back pocket, so I'm tempted to accept given that it has only taken 3 letters to them and less than 2 month to complete. But I cant help thinking that if I hold out, i'll get double that by going to the FOS and if i'm genuinely due it, then I should get it.

The thing is I know that if I do go to the FOS, then it'll be probably at least another year before this is settled. My RBS settlement took 15 month to complete and I also have another one with Lloyds currently with the FOS, and that has also be going for over a year with no end in sight!

Think i'll phone FOS and quote some of the figures Barclaycard have given, and see if they agree that they are correct.

Thanks again for your help.:beer:

Cocker:)

robbedofmymoney

Cocker,
please let us know how you get on,
cheers

di3004

Good luck with this Cocker.:beer:

Elfgirl

Hello all, just looking for some advice if anyone can help?

I complained about the PPI added to my Lloyds credit card when I took it out in 1997 - branch staff said I would be automatically declined if I didnt take it and being 18 at the time, I believed them. I sent off the template letter five weeks ago and got the final response this week that the complaint was upheld and to send the acceptance back and they would refund me.

I actually now work in financial services and know that the method that they use to calculate the amount due back to me has been agreed with FOS so I'm not worried about that, but does anyone know how long it will take for them to actually refund me? Planning to book myself a holiday!! I sent the slip back on Thursday.

hopefulshell07

bugsy161 wrote: »

My LTSB complaint went to the FOS in Jan 2008 and eventually got to an Adjudicator in February 2010. (its now with the actual Ombudsman)I used to phone once a month to get an update and they were very helpful.
I wouldnt hold your breath about getting any rapid response from LTSB, that is if you get any response at all.
It was interesting to hear today that the FSA may be fining at least 2 of the major banks for not dealing fairly with customer complaints. I wonder which 2 they might be???

I am hoping that the bank deal with it quickly as when I wrote to them about claiming back in the first place they actually answered and offered me money back within the 8 weeks! And when I wrote back to them disputing one of the loans they said had not been missold they wrote back again within a few weeks, but won't be holding my breath just in case :rotfl:
But I hope the FOS don't take forever to sort it out for me as I am not in dispute with the bank, they have agreed it was all missold but I can't work out the figures and don't want to sign in 'full and final settlement' for an amount I don't know and the bank can't/won't give me figures.

di3004

Elfgirl wrote: »

Hello all, just looking for some advice if anyone can help?

I complained about the PPI added to my Lloyds credit card when I took it out in 1997 - branch staff said I would be automatically declined if I didnt take it and being 18 at the time, I believed them. I sent off the template letter five weeks ago and got the final response this week that the complaint was upheld and to send the acceptance back and they would refund me.

I actually now work in financial services and know that the method that they use to calculate the amount due back to me has been agreed with FOS so I'm not worried about that, but does anyone know how long it will take for them to actually refund me? Planning to book myself a holiday!! I sent the slip back on Thursday.

Hi and well done on your success.:beer:

I believe LLoyds have said different timescales to some, but if you have not heard or received anything by the full month of signing, chase them up, good luck.;)

di3004

hopefulshell07 wrote: »

I am hoping that the bank deal with it quickly as when I wrote to them about claiming back in the first place they actually answered and offered me money back within the 8 weeks! And when I wrote back to them disputing one of the loans they said had not been missold they wrote back again within a few weeks, but won't be holding my breath just in case :rotfl:
But I hope the FOS don't take forever to sort it out for me as I am not in dispute with the bank, they have agreed it was all missold but I can't work out the figures and don't want to sign in 'full and final settlement' for an amount I don't know and the bank can't/won't give me figures.

Hi there

If this is in regards of LLoyds maybe you could email the Chief Executive Officer (CEO), I believe his details are:
[EMAIL="Eric.Daniels@lloydstsb.com"]Eric.Daniels@lloydstsb.com[/EMAIL]

or co.uk one of them.

Good luck with this.:)

starmanuk

Hi everyone and thanks for all the very useful information posted so far. Now I'd appreciate some feedback or some advice.

I'm about to start the process to reclaim PPI from my Egg credit card which I've had for many years. When I first applied for the card online, I'm pretty sure the PPI was a default setting and being somewhat naive I never deselected it. I thought PPI was a part of credit cards.

Regardless I now think I may not have been eligible for PPI when it was sold to me. Today, I reviewed the PPI T&Cs currently available online and found this right at the front.

Eligibility
To be eligible for cover you must be the principal card holder, in employment or self-employed and paying the appropriate class of National Insurance Contributions (not applicable to Life or Critical Illness claims), aged 18 or over and under age 65, and a UK resident.

At that time, and until 2005 I was resident in the UK, but paying Canadian income tax and not making any NI contributions. It seems pretty cut and dry to me, but thought I seek further comments.

I don't have a copy of my original credit agreement. Should I try to get that back first before making a claim?

Many thanks for your consideration.

di3004

starmanuk wrote: »

Hi everyone and thanks for all the very useful information posted so far. Now I'd appreciate some feedback or some advice.

I'm about to start the process to reclaim PPI from my Egg credit card which I've had for many years. When I first applied for the card online, I'm pretty sure the PPI was a default setting and being somewhat naive I never deselected it. I thought PPI was a part of credit cards.

Regardless I now think I may not have been eligible for PPI when it was sold to me. Today, I reviewed the PPI T&Cs currently available online and found this right at the front.

Eligibility
To be eligible for cover you must be the principal card holder, in employment or self-employed and paying the appropriate class of National Insurance Contributions (not applicable to Life or Critical Illness claims), aged 18 or over and under age 65, and a UK resident.

At that time, and until 2005 I was resident in the UK, but paying Canadian income tax and not making any NI contributions. It seems pretty cut and dry to me, but thought I seek further comments.

I don't have a copy of my original credit agreement. Should I try to get that back first before making a claim?

Many thanks for your consideration.

Hi there

Yes ask them for a copy of your agreement and put this into writing, enclose a £1 postal order or cheque payment and ask if they would supply by 12 days of your letter.

Also request for a copy of the policy details.

However, there is no harm in continuing to make a reclaim just as long as you have the account number details.

Check on Martin's guidelines of reclaiming which includes now a questionnaire to complete to send to the bank and keep a copy in case you have to refer your case to the FOS later on.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
Follow the guidelines and a cover letter alongside the questionnaire would also be useful.

Best through to write in your own words, but no harm in using a template as a guide to make sure nothing is missed, they have 8 weeks in full to respond.
http://image.guardian.co.uk/sys-files/Money/documents/2007/10/26/PPIreclaim.pdf

Hope this helps, please ask for help anytime and good luck.;)