PPI Reclaiming Discussion part 4

quadwould

Have tried searching the forum.. but no dice.......

How does Halifax come to a Daily Interest Rate of 0.055% (they state on their monthly statements) based on an APR of 21.95%????
If you take 21.95% and divide it by 365 days, you get 0.06013....%
and when you divide 21.95% by 0.055%, you get 399.09 days
????

When working out the interest on Credit Card Repayment Cover (PPI), when trying to reclaim, what should I use??? I have created a spreadsheet that has 2 separate calculations, one for the one based on 365 days, and the other on Halifax's weirdo Maths.
I'd rather use the realistic 365 (366 for leap year) columns as it means I would be better off by another 40 quid in interest back to me.

Also... Should I cancel the PPI that is still currently running on the card right now?? or wait till this whole thing is sorted?? What's the best strategy?

Want to get this right the first time around. Help....... please....

beamerguy

aberdarejack wrote: »

Evening all, writing here on behalf of an elderly friend. He received a letter on 9 Sep 11 from Barclays Bank telling him that they upheld his complaint and his "redress" would be £10,308.75, the letter also stated they would not revise that offer at a later date. He thought that this was excessive as he only expected a few hundred pounds but he looked forward to the cheque in the post...! He has received nothing and when he rung Barclays last week they informed him that in fact he would be getting around £190...!

Does anyone know what he should do please?

many thanks in advance!

Hi, well if your friend only thought they get a few hundred, clearly Barclays have made an error, The only thing you could do is write to them requesting full information into this error.

I would suggest you ask Bob Diamond the CEO by email, think he will be amazed at such a difference
[EMAIL="robert.diamond@barclaysplc.com"]robert.diamond@barclaysplc.com[/EMAIL]

aj16_2

gratefull wrote: »

hi just a quick question, am I able to claim on a barclay credit card that I openend in sept 1999

You certainly can. Just had a substantial offer from Barclays on a 'live' credit card, first opened in 1991!

beamerguy

amersall wrote: »

Heres one from the man himself.
Have you already claimed on the insurance?
Until January 2010 it had been generally assumed you couldn't make a mis-selling complaint if you'd already made a successful insurance claim. Yet proposals from the regulator now mean more people could be entitled to compensation.

Anyone who has claimed on a PPI policy can still submit a mis-selling complaint, using the timeframes above, though the chances of success are unclear. However, even if you're not successful, you may be able to cancel your insurance.

thanks for that, I am amazed but ..... if folk can get away with it, great

harry2012lucy

Hello All, I've again this evening received another call explaining how I'm entitled to claim back PPI. On this occasion I've listened to the pleasant gentleman on the other end of the phone and came away feeling a little up beat. I've had 2 loans in the last 10 years loads of credit cards and countless bank charges!! The guy calling then went on to tell I'm entitled to quite a bit of money back as I may of been wrongly sold PPI. The company he works for would like to charge me £250 if I went ahead with my claim and take 25% of a succesfull claim.
What should I do??

dilus

harry2012lucy wrote: »

Hello All, I've again this evening received another call explaining how I'm entitled to claim back PPI. On this occasion I've listened to the pleasant gentleman on the other end of the phone and came away feeling a little up beat. I've had 2 loans in the last 10 years loads of credit cards and countless bank charges!! The guy calling then went on to tell I'm entitled to quite a bit of money back as I may of been wrongly sold PPI. The company he works for would like to charge me £250 if I went ahead with my claim and take 25% of a succesfull claim.
What should I do??

Hang up!
USE THIS SITE for great advice and all the help you need and KEEP ALL redress you may get. It couldn't be easier to DIY
DO NOT USE A CLAIM COMPANY they can do no more than you and can not get you more than you are entitled to

Stormy38

What happens if you don't get an acknowledgement from the bank 21 days after sending the claim form, do you start the process again or register the mis-selling claim via the telephone? Any advice would be appreciated please.

dilus

Stormy38 wrote: »

What happens if you don't get an acknowledgement from the bank 21 days after sending the claim form, do you start the process again or register the mis-selling claim via the telephone? Any advice would be appreciated please.

Phone them and ask if they have received it, some banks don't acknowledge

harry2012lucy

dilus wrote: »

Hang up!
USE THIS SITE for great advice and all the help you need and KEEP ALL redress you may get. It couldn't be easier to DIY
DO NOT USE A CLAIM COMPANY they can do no more than you and can not get you more than you are entitled to

Ok, I'm guesing I have to claim back from every card and loan seperatley?

dilus

harry2012lucy wrote: »

Hello All, I've again this evening received another call explaining how I'm entitled to claim back PPI. On this occasion I've listened to the pleasant gentleman on the other end of the phone and came away feeling a little up beat. I've had 2 loans in the last 10 years loads of credit cards and countless bank charges!! The guy calling then went on to tell I'm entitled to quite a bit of money back as I may of been wrongly sold PPI. The company he works for would like to charge me £250 if I went ahead with my claim and take 25% of a succesfull claim.
What should I do??

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
Have a read of this page and if you have any of the reasons listed to believe you were mis sold download the questionnaire in Step 3, need any help just ask