PPI Reclaiming Discussion part 4

Red_peppers

I have posted on the success thread

But I have a question.

I have been offered refund of premiums £3,831.14
8% simple interest £555.24

Should I get the interest due to PPI back to me £2,903.52?

This is a single premium First Plus loan still running so they want to apply the interest to the loan.

Full offer details are on the success thread

Thanks

Helen x

SandyMc

Just got 4 refusal letters (out of 16 claims) from Barclays - they all say the same thing, that they "have been unable to locate your payment protection insurance policy...". However, I sent it to them with the claim, as requested - but luckily made a copy! I am disgusted with this slap-dash turn down. How can I contact someone higher...is there an email address?

RuthnJasper

Well, right at the end of the 16-week period, I have today received a rejection letter from M&S Money.



These are the reasons they give:


The allegations set out in your letter are as follows:
You don't recall any negative aspects of PPI being outlined to you.
You felt strongly encouraged to sign up for the credit card.
You also recall being strongly advised to take out PPI "just in case”.

I have now finished my investigation into your complaint and have confirmed my findings below:

PPI is offered to customers to cover their monthly repayments should the unexpected happen, such as accidents, sickness and involuntary redundancy/unemployment.
As you completed the application in store in your own time, M&S Money were not present so no advice could have been given to you about the merits of this policy. Therefore all your points about the lack of advice and information given are refuted on this basis.
The sale of this Insurance is deemed as "non-advised", as M&S Money did not employ appointed representatives in M&S stores at that time.
Details regarding the PPI and the account terms and conditions were attached to the application form.
Policy documents were issued to you detailing the benefits, exclusions and cancellation rights. These should have been consulted to ensure the cover was suitable.
By signing the overall credit agreement, you confirmed that you were happy with contents of the application form and the accounts terms and conditions.
Customers can submit a claim on their policy until it is cancelled or the account is closed.
The policy was charged on a monthly basis for over 10 years and clearly detailed on your monthly statements. You could have contacted us at any time to query or cancel this policy.
We wrote to you during September 2003 to inform you that we were transferring your Chargecard account to a MasterCard account. This letter also included details about the transfer of the PPI policy.
We again wrote to you in January 2007 to make you aware of some changes to your PPI policy. You did not contact us at this time to question or cancel the policy.

Due to the reasons stated above, I reject your complaint that this policy was mis-sold to you and will not be offering you a refund of this policy.

The interesting thing is that they enclosed a copy of my application leaflet. My writing and signature have a very pronounced slant from left to right. The cross in the PPI box is emphasised from right to left...

What d'you reckon? Is it worth appealing to the Ombudsman? Or shall I just head off to Beachey Head right now?

Any thoughts most welcome. Thank you. x

cclissold

Anyone heard anything from Halifax after sending their acceptance form back?? My postman thinks I am stalking him!!

C.x

aj16_2

This has now been ongoing since October 2010 when Barclaycard refused to acknowledge any of my complaint letters. FOS then took over my case in December.

Anyway, Barclaycard rejected my complaint (what happened to 'no quibble' policy?) end of August. FOS were then due to start their investigations but I decided to complain directly to Barclays CEO. September 16th received a phone from Barclaycard, saying that they were re-investigating my complaint and would inform FOS of their decision.

My question is, what do you think is a reasonable timescale for Barclaycard to resolve this? Thinking of giving it another week before contacting FOS again, as it's then exactly a month after Barclaycard called me. I am so fed up!

amersall

Pedro303 wrote: »

Well after being given the run around by hsbc and 16 working days passing with no payment of monies due, I fired off a number of angry emails to the chief executive and head of complaints. Duly got responses back from both saying my complaints were being looked at, and hey presto on the 5th was paid my money.

BUT imagine my surprise when I checked my account tonight to find that hsbc had debited me over £6k in bank redress. After picking myself up off the floor I see I've got -£4.5k in debit on my account. Duly rang up and was met with a response that they don't know why that has been done and it'll be investigated in five working days, but nothing can be done, and all my pending payments will not be honoured as I only have an overdraft of £150. To say I'm angry is an understatement!

They are absolute cowboys and messing with people's lives. I'm going to give the RSC people a piece of my mind on monday. :mad:

Send another e email to the CEO and put a complaint into the bank for this error,you want compensating for your account being in debit and any charges that will be applied for there mistake.
Tell them you will be putting a complaint into the FOS regarding this,if they dont act promptly.

amersall

Red_peppers wrote: »

I have posted on the success thread

But I have a question.

I have been offered refund of premiums £3,831.14
8% simple interest £555.24

Should I get the interest due to PPI back to me £2,903.52?

This is a single premium First Plus loan still running so they want to apply the interest to the loan.

Full offer details are on the success thread

Thanks

Helen x

Hi Helen, this interest that is going back to the loan is interest you paid to the loan when you had ppi that reduced the loan balance,the ppi is no longer there so your balance should not have reduced by this,so it has to go back on.
Look at this way,you WON and your loan has reduced and the monthly payment too :cool::cool::cool:
I answered this on your post

ginger5092

Hi everyone

Need a bit of advise on the following if you can

Quite a few years ago (cant for the life of me remember when) I had a Tesco credit Card which had PPI.

I sent a SAR letter to Tesco two months ago and they have replied saying that they have no record what so ever of any account in my name and have asked me to supply them with an Account Number.

I dont have any paperwork or indeed any idea of the exact time I had the card so I wrote back explaining this to them.

They have since replied stating that again they are unable to trace any accounts in my name or address.They again are asking for an Account Number which I dont have.

They also state that they do not hold information after six years,so in other words tough luck.

I cant provide them with the account,hence the reason for sending the SAR.

So,am I fighting a losing battle or can anyone advise what I could do now if anything.

Thank you all yet again in advance

Ginger

Red_peppers

amersall wrote: »

Hi Helen, this interest that is going back to the loan is interest you paid to the loan when you had ppi that reduced the loan balance,the ppi is no longer there so your balance should not have reduced by this,so it has to go back on.
Look at this way,you WON and your loan has reduced and the monthly payment too :cool::cool::cool:
I answered this on your post

Thank you again!

We keep crossing wires :rotfl::rotfl: my fault ...too impatient

cappo

Topkapi wrote: »

My husband has had a credit card for over 25 years. He is unsure with whom he originally took the card out but they were taken over by MBNA years ago. He was a college lecturer at the time and so had ample cover from the education authority. He probably filled in a form and posted it off to apply for the original card. He has a large credit limit and twice in the past few years we have bought cars with the card so he has always had a large balance. He has always paid more than the minimum and has never missed a payment.

He seems to think the original card was with Bank of Scotland (not RBS) but I am not sure. Does this sound right to anyone? If we put a claim in with his current card number will they automatically go back to the previous company and check that account as naturally there was a different account number on that card and we do not have any old details?

Any advice on how to proceed will be gratefully received.

Hi topkapi mbna are liable for this card now, complain with your reasons of misale to mbna, as long as you have a card number all new/old cards will be on the same account.