PPI Reclaiming Discussion part 4

johunter · 6 October 2011 at 12:43PM

Well I'm not a happy bunny with Barclays. First estimated offer I received was for £5633.47 two weeks later I received an updated estimated offer with acceptance form for £6064.32, signed the acceptance form and returned the same day. Checked my bank account today and two payments have gone in from Barclays totalling £4658.55 (822.55 interest & £3836.00 ppi) meaning actual refund from Barclays is well below both of their estimated offers. Just rang customer relations (who were useless!) who said they'd pass my complaint onto the PPI team and someone will be in touch via letter with the calculations.

I'm bloomin' angry that Barclays are asking their customers to sign an acceptance for estimated offers. After my first offer I was told someone would be in touch within a couple of weeks with my final offer to accept, what I originally thought was my final offer was infact (after reading the letter again later after returning the acceptance form) another estimate.

So beware when signing acceptance forms that the offer you're accepting is a final offer and not an estimated offer!

di3004 · 6 October 2011 at 12:45PM

johunter wrote: »

Well I'm not a happy bunny with Barclays. First estimated offer I received was for £5633.47 two weeks later I received an updated estimated offer with acceptance form for £6064.32, signed the acceptance form and returned the same day. Checked my bank account today and two payments have gone in from Barclays totalling £4658.55 (822.55 interest & £3836.00 ppi) meaning actual refund from Barclays is well below both of their estimated offers. Just rang customer relations (who were useless!) who said they'd pass my complaint onto the PPI team and someone will be in touch via letter with the calculations.

I'm bloomin' angry that Barclays are asking their customers to sign an acceptance for estimated offers. After my first offer I was told someone would be in touch within a couple of weeks with my final offer to accept, what I originally thought was my final offer was infact (after reading the letter again later after returning the acceptance form) another estimate.

So beware when signing acceptance forms that the offer you're accepting is a final offer and not an estimated offer!

Hi there

I would be tamping too, they don't know their A*** from their elbows in my opinion.
Hope they get to resolve this soon.
Have you been in touch with the Manager/CEO?

Good luck and also well done on your success!:beer:

johunter · 6 October 2011 at 12:59PM

Emailed the CEO last week concerning the confusing letters, multiple account references I've been given & the letters 'mistakenly' sent out in my daughters name instead of mine, as of yet had no response. I'm hoping that as their were two loans being taken into account that the payments are going being paid separately & another payment will magically appear in my account soon (some hope eh? lol) if not then I will be emailing the CEO again & anyone else I can moan to. I just can't see how they can have the audacity to expect customers to accept 'estimated' offers. :mad:

johunter · 6 October 2011 at 1:11PM

Just out of curiosity is there anyone who could work out a rough estimate for me, the figures are

Loan 1 Taken out March 2006

Amount £5,000
Premium Loan (ppi) £1,206.86
Total Amount Payable £7132.80
Total premium loan £1722.00
Monthly repayments £118.88
Premium loan monthly repayment £28.70
Total monthly repayment £147.58
Number of repayments 60

(this loan was paid off early with 2nd loan)

2nd Loan taken out June 2006

Amount £10,000
Premium Loan (ppi) £3234.42
Total Amount Payable £15380.40
Total premium loan £4974.48
Monthly repayments £183.10
Premium loan monthly repayment £59.22
Total monthly repayment £242.32
Number of repayments 84

This loan is still running, payments are up to date and no claims have been made on the PPI.

Thanks in advance.

johunter · 6 October 2011 at 1:32PM

Beginning to feel like a pest now but just thought of something while I was checking loan figures & I'm hoping someone can figure this out. Because my loan is still active Barclays have had to revise my loan agreement and issue me with another one, but I can't get their figures to work out. According to my online account the amount outstanding on the present loan is £4,578.11 take away the remaining PPI payments (21 x 59.22= £1243.62) that should leave an outstanding balance of £3,334.49? My new loan agreement from Barclays has the new loan amount as £3440.06 where do they get that figure from?
Aside from that, if I understand correctly, any interest on the original load was added on upfront meaning the figure outstanding already includes any interest? Yet on the revised loan agreement I'm being charged £431.92 in interest, surely that means I'm paying interest twice?
Figures quoted on revised loan agreement are as follows:

Total amount of credit = £3440.06
Duration of credit agreement= 21 months
Repayments = 21 monthly payments of £184.38
Total amount you will have to pay = £3871.98

Rates of interest applied to credit agreement = 13.216% per annum fixed
Annual percentage rate of charge = 13.9%

One thing Barclays sure are good at is getting me confused!!

HanMaz83 · 6 October 2011 at 1:47PM

I was wondering if anyone could help me, I have been told by HSBC that my claim has been successful, but i'm waiting for my letter with how much i'll get. I am wondering if I can work out how much i'll receive back from the loan amount, the loan amount was £6600?

Do you know if this is possible?

I have asked them for copies of my loan agreement, so i can see the amount, but they are dragging their heels........

bex2980 · 6 October 2011 at 2:19PM

hey hanmaz do you have a number to ring hsbc because i put in a claim and i want to contact them to see how its coming along?

Petergra · 6 October 2011 at 2:28PM

Hi Everyone!!!!

One Happy Bunny here!

Last week I recieved a rejection letter from MBNA stating that My claim had been considered and they were not going to uphold it. My initial though was to contact FOS but I though - from the information that they had given me, I would give the CEO an email and see where I get.

I emailed saying that I did not recall ticking the box for Payment Protection and seeing as I am a Teacher with 6 Months full pay and 6 months half pay as well as critical illness cover, the PPI would not be applicable to me and seeing as this was on the application form they had sent me, thejy knowingly mis-sold me the cover.

I have just opened up my email to a message from Matthew from ststing that they could not supply proof that I was shown the information regarding PPI and I had enough time to read and understand it and as a result, he was upholding my claim and has supplied me with the following calculations:

Total amount of PPI premiums charged since sale date: £2905.39
Total amount of interest associated with the PPI premiums: £3158.99
Total amount of 8% interest: £6.77
Total amount payable: £6071.15

I am SOOOOOOOOOOOOOOOOOO Happy!

Note to all - Don't give up with the company if you feel it has been a mis-sell - even after the final response letter I managed to get back what was owed to me before having to get the FOS involved!