PPI Reclaiming Discussion part 4

shearerspeg

Hello im new here and new to this whole reclaiming thing, basically i have just sent a letter to Barclays using the template from this board about four years ago i took a £1000 loan from barclays and was told that i would have to have ppi, about a month later they ontacted me and offered me a £5000 loan which i could use to pay off the first one and have some money left over, at the time it seemed like a good idea i was told then as well that i would need ppi, nothing was explained to me correctly and it all took p[lace whilst i was out shopping(my fault i know) all i had to was take the papers to the bank and sign them, ppi was never explained to me properly, anyway i have been paying £187 every month for four years and still owe nearly £3000, when i asked why this was i was told that i had to pay the ppi first which is also charing interest, my interest rate is also ridiculous about 17% i worked out that i would end up paying pack about £11500, can anyone give me advice, also i asked for them to cancell the ppi they said they couldnt also i asked about the interest rate they said the only way they could change it is if i get another loan from them but they have refused to do that due to my bad account management, its crazy i earn about£25000 a year there is no problem with my account management other than the loan repayments, any advice would be great soz about the long message

di3004

shearerspeg wrote: »

Hello im new here and new to this whole reclaiming thing, basically i have just sent a letter to Barclays using the template from this board about four years ago i took a £1000 loan from barclays and was told that i would have to have ppi, about a month later they ontacted me and offered me a £5000 loan which i could use to pay off the first one and have some money left over, at the time it seemed like a good idea i was told then as well that i would need ppi, nothing was explained to me correctly and it all took p[lace whilst i was out shopping(my fault i know) all i had to was take the papers to the bank and sign them, ppi was never explained to me properly, anyway i have been paying £187 every month for four years and still owe nearly £3000, when i asked why this was i was told that i had to pay the ppi first which is also charing interest, my interest rate is also ridiculous about 17% i worked out that i would end up paying pack about £11500, can anyone give me advice, also i asked for them to cancell the ppi they said they couldnt also i asked about the interest rate they said the only way they could change it is if i get another loan from them but they have refused to do that due to my bad account management, its crazy i earn about£25000 a year there is no problem with my account management other than the loan repayments, any advice would be great soz about the long message

Hi there and welcome.;)

Blimey that is crazy, they have put you in an awkward situation as it seems.

I would write back to them and tell them if they do not resolve your complaint you will have no option but to consider further action on this matter.
It does not seem fair and they are not treating you fairly here either, its crazy like you said.

Just keep on at them hun until you exhaust their complaint procedures, they should let you know in their final letter of how you can take this further, normally with the financial ombudsman service if your not satisfied.

Regarding your calculations Turbo tends to deal with them on here, but busy at present, he should be back soon, so if you do need anything worked out, I'm sure he will be happy to take a look on his return.

Please keep us posted hun and fingers crossed.;)

Di
X

di3004

Trolley_Dolley wrote: »

Thanks Di, I didn`t think this would be an easy task but its been draining these last 6wks trying to sort all this out! I know they are stalling and probably lots of people give up and go away at this stage but im prepared to stick with it for my BF sake as he is going to have to do DMP in order to try and have a life and anything we may get back in ppi would help enormously in clearing some of this mammoth debt.

Thanks again for your help :A

Good for you hunni, that's the way, and keep it up until its resolved.:T
Fingers crossed.:A

Di
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bernice_2

Hi everyone. i have had a letter from the FOS today laying out the time scale for MBNA to amount of claim due to me plus £200 compensation for undue distress.
I have to reply by 25th April, but i dont know what they are going to pay me so how can i accept. MBNA have to calculate premiums for the last 3yrs, and add on 8% per yr and let me know the payment., but i have an acceptance letter to sign and send back to the FOS BEFORE THE ABOVE DATE.
ANY ADVICE
bernice

di3004

bernice wrote: »

Hi everyone. i have had a letter from the FOS today laying out the time scale for MBNA to amount of claim due to me plus £200 compensation for undue distress.
I have to reply by 25th April, but i dont know what they are going to pay me so how can i accept. MBNA have to calculate premiums for the last 3yrs, and add on 8% per yr and let me know the payment., but i have an acceptance letter to sign and send back to the FOS BEFORE THE ABOVE DATE.
ANY ADVICE
bernice

Hi Bernice

This seems to be the case for many recently, where they give an offer and no amount disclosed.

My hubby had this problem over a week ago and emailed the adjudicator to say he can only really decide if he has a figure to go by, the following day they did give him the figure.
I also note that others have asked and the FOS state this will delay their claim, but if you have until 25th April you may have time for them to ask and find out, or maybe contact MBNA and see if they can tell you.

It may be worth asking, I do hope so hun, good luck.;)

Di
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jjwhittle1981

hi,

been trying to get my ppi back from capital one and RBS. The capital one is with the ombudsman awaiting reponse from capital one.

RBS have been a little bit more stuburn they kept fobing me off saying it was my responsibility to show them proof of me having the loan with them, having moved house several time, iv shredded the documents long ago, so i applied to the ombudsman for help in this matter and they sent a letter on to RBS on my behalf and low and behold, i got a phone call from RBS today it was their PPI complaints department confirming that i did have a loan with them and that they will start an investigation now.

So to all out there struggling keep pestering in any way that you can.

mlucyminx

bernice wrote: »

Hi everyone. i have had a letter from the FOS today laying out the time scale for MBNA to amount of claim due to me plus £200 compensation for undue distress.
I have to reply by 25th April, but i dont know what they are going to pay me so how can i accept. MBNA have to calculate premiums for the last 3yrs, and add on 8% per yr and let me know the payment., but i have an acceptance letter to sign and send back to the FOS BEFORE THE ABOVE DATE.
ANY ADVICE
bernice

I had same sort of letter regarding capital one.

I was told capital one had agreed to pay back all premiums plus 8% interest plus interest that had been charged on these amounts in the credit card total.

I roughly knew how much they owed for premiums and 8% but not the other interest.

I signed and accepted the deal. Waited for money from cap one then e-mailed ombudsman to ask them to ask capital one how they had come to their final figure. FOS forwarded my request to capital one on my behalf.

Logged on to capital one this morning and a further credit has been added to my account. Letter came this morning explaining credit was the interest they owed me.

Hope this helps.

maxdp

Trolley_Dolley wrote: »

Thanks Max, presumably the SAR request means as well as supplying written documentation they have to provide any verbal recording as well??
If they then cannot supply the recording would it be better to go straight to Ombudsman rather that keep writing letters requesting it, just dont want to waste time if they are not going to play ball as I know when it goes to FO it could take up to a year to be successful due large volumes of complaints they must have

Usually they say we are not required to keep copies of all conversations. Basically it is like a game of chess here. If they have the recordings then they have to supply them otherwise you can take them to the Information Commissioners Office for not providinhg the information. You will find all the informations on the SAR sticky post on the front page of this Forum.

Then take it straight to the FOS, problem is they are taking ages to get through all the complaints, over a year in some cases. If you can get it sorted at branch level it is better or quicker really. FOS are making firms pay compensation to us at the moment if they feel that we have not been treated fairly by the lender.

Good Luck:D

maxdp

bernice wrote: »

Hi everyone. i have had a letter from the FOS today laying out the time scale for MBNA to amount of claim due to me plus £200 compensation for undue distress.
I have to reply by 25th April, but i dont know what they are going to pay me so how can i accept. MBNA have to calculate premiums for the last 3yrs, and add on 8% per yr and let me know the payment., but i have an acceptance letter to sign and send back to the FOS BEFORE THE ABOVE DATE.
ANY ADVICE
bernice

Hi I had the same but if you are not happy with the figure or you think it is wrong then you can go back to them so do not be to concerned with this.;)

maxdp

jjwhittle1981 wrote: »

hi,

been trying to get my ppi back from capital one and RBS. The capital one is with the ombudsman awaiting reponse from capital one.

RBS have been a little bit more stuburn they kept fobing me off saying it was my responsibility to show them proof of me having the loan with them, having moved house several time, iv shredded the documents long ago, so i applied to the ombudsman for help in this matter and they sent a letter on to RBS on my behalf and low and behold, i got a phone call from RBS today it was their PPI complaints department confirming that i did have a loan with them and that they will start an investigation now.

So to all out there struggling keep pestering in any way that you can.

Yes they do try it on don't they. Am glad you were able to get the FOS to help out. Am sure it will be sorted soon for you.:D