PPI Reclaiming Discussion part 4

laalaa41

Im really annoyed with Egg actually, I've had an account since 2002 and never been in default but I was one of those they cancelled. Right at the time I cancelled another 2 cards (choosing Egg as my one and only). Then when I applied for another credit "computer said nooooo" - lord knows why but that was the beginning of the credit crunch. So I have no usable credit card for emergencies. Since they cancelled my card, Ive had no reason to pick that particular black hole to pay off - till a loan I have is clear anyway - I just pay a little over the minimum to it and whack as much money into the other one.
And if there have never been any arrears, my claim for miss-sold PPI (grounds that a) I have always been a temp and b) I have a thyroid condition that proved to be an exclusion in a similar policy) - shouldn't Egg offer me my money back so I can decide which of my debts has the highest APR and pay off THAT?

L

melorablack wrote: »

I don't think it matters that the account is in dispute..if it is in arrears they can use any refund to reduce the arrears.

melorablack

laalaa41 wrote: »

Im really annoyed with Egg actually, I've had an account since 2002 and never been in default but I was one of those they cancelled. Right at the time I cancelled another 2 cards (choosing Egg as my one and only). Then when I applied for another credit "computer said nooooo" - lord knows why but that was the beginning of the credit crunch. So I have no usable credit card for emergencies. Since they cancelled my card, Ive had no reason to pick that particular black hole to pay off - till a loan I have is clear anyway - I just pay a little over the minimum to it and whack as much money into the other one.
And if there have never been any arrears, my claim for miss-sold PPI (grounds that a) I have always been a temp and b) I have a thyroid condition that proved to be an exclusion in a similar policy) - shouldn't Egg offer me my money back so I can decide which of my debts has the highest APR and pay off THAT?

L

It would all depend on the company policy. If you have outstanding debt with them they have the right to use any refund to clear it.

I would take it up with them if you aren't happy with that or go to the ombudsman.

goaliesmum

Hi everyone

In an effort to pass the time waiting for a reply from Barclays I had a look on their website for PPI info.

There is a statement saying

"We do not currently offer Payment Protection Insurance. Customers that have already taken out PPI with us can download our guide to PPI.

This guide says the following about the premium for PPI

"

4. Premium for your Cover

Your monthly premium includes Insurance
Premium Tax (IPT) at the rate that applies
at the date of payment. The cover you have
selected and its cost is shown in your
Policy Schedule. The premium is
calculated as a percentage of your
monthly loan repayments and is based on
the loan term and will be collected monthly
in arrears by direct debit from your
nominated bank account. We will review
the cost of the cover, at least annually and

we may change the rate of your monthly
premium by giving you 30 days’ notice in

writing before we make the change.


Hopefully as mine was a one-off lump sum added with interest to my loan this is now a good sign? if they have stopped selling it and now state a different collection method should I be hopeful of a good outcome? This info is from Feb 09 and I do not know how long it has been changed.

Wait and see is the only answer, I know

melorablack

goaliesmum wrote: »

Hi everyone

In an effort to pass the time waiting for a reply from Barclays I had a look on their website for PPI info.

There is a statement saying

"We do not currently offer Payment Protection Insurance. Customers that have already taken out PPI with us can download our guide to PPI.

This guide says the following about the premium for PPI

"

4. Premium for your Cover

Your

monthly premium includes Insurance
Premium Tax (IPT) at the rate that applies
at the date of payment. The cover you have
selected and its cost is shown in your
Policy Schedule. The premium is
calculated as a percentage of your
monthly loan repayments and is based on
the loan term and will be collected monthly
in arrears by direct debit from your
nominated bank account. We will review
the cost of the cover, at least annually and

we

may change the rate of your monthly
premium by giving you 30 days’ notice in

writing before we make the change.


Hopefully as mine was a one-off lump sum added with interest to my loan this is now a good sign? if they have stopped selling it and now state a different collection method should I be hopeful of a good outcome? This info is from Feb 09 and I do not know how long it has been changed.

Wait and see is the only answer, I know

Most (if not all) lenders no longer sell single premium policies because they are unfair

marshallka

goaliesmum wrote: »

Hi everyone

In an effort to pass the time waiting for a reply from Barclays I had a look on their website for PPI info.

There is a statement saying

"We do not currently offer Payment Protection Insurance. Customers that have already taken out PPI with us can download our guide to PPI.

This guide says the following about the premium for PPI

"

4. Premium for your Cover

Your

monthly premium includes Insurance
Premium Tax (IPT) at the rate that applies
at the date of payment. The cover you have
selected and its cost is shown in your
Policy Schedule. The premium is
calculated as a percentage of your
monthly loan repayments and is based on
the loan term and will be collected monthly
in arrears by direct debit from your
nominated bank account. We will review
the cost of the cover, at least annually and

we

may change the rate of your monthly
premium by giving you 30 days’ notice in

writing before we make the change.


Hopefully as mine was a one-off lump sum added with interest to my loan this is now a good sign? if they have stopped selling it and now state a different collection method should I be hopeful of a good outcome? This info is from Feb 09 and I do not know how long it has been changed.

Wait and see is the only answer, I know

Barclays are actually challenging the 7 day ban of PPI sales.

http://www.guardian.co.uk/money/2009/sep/07/ppi-barclays-credit-cards

goaliesmum

marshallka wrote: »

Barclays are actually challenging the 7 day ban of PPI sales.

http://www.guardian.co.uk/money/2009/sep/07/ppi-barclays-credit-cards

:rolleyes: So much for my enthusiasm, hope that the FSA get teed off with them putting up objections and slap a fine on them :cool:

gil8967

Hi,
Just an update, I received a letter from Direct Line to say thet are dealing with my complaint. So fingers crossed. Also received 1 questionaire from Clydesdale regarding 2 comlaints. I had to phone them to double check which loan account it was for, but they said they have combined the both of them. Filled it in and posted it yesterday. No word yet about my credit card. Just a waiting game now! Thanks to all who have helped.:T:T Gill

cot1198

I've had a form from Ocean Finance & mortgages to sign for permission to access records from the lender and insurer of the PPi connected to my complaint.
The covering letter says that they have been asked by the FOS to review their final decision in regard to my complaint, and in respect of that they need to access this information.
Has anybody else had one of these and is it good news or bad news.

marshallka

cot1198 wrote: »

I've had a form from Ocean Finance & mortgages to sign for permission to access records from the lender and insurer of the PPi connected to my complaint.
The covering letter says that they have been asked by the FOS to review their final decision in regard to my complaint, and in respect of that they need to access this information.
Has anybody else had one of these and is it good news or bad news.

I had a call from Cassidy Davis(The insurer) about mine last December and they wanted me to write to FP (the lender) to say that we allowed them to access the records for the loan and PPI. It does sound like your complaint is actually moving forward though although I rang about mine last week and asked if they would be looking into it by this side of Christmas and they could not say either way. They did say that these insurer complaints were very complicated.

cot1198

marshallka wrote: »

I had a call from Cassidy Davis(The insurer) about mine last December and they wanted me to write to FP (the lender) to say that we allowed them to access the records for the loan and PPI. It does sound like your complaint is actually moving forward though although I rang about mine last week and asked if they would be looking into it by this side of Christmas and they could not say either way. They did say that these insurer complaints were very complicated.

thanks for that

I do hope it is moving as it has been with the FOS for nearly 12 months now and 13 months from my first letter of complaint