Am I too late to reclaim?

digitalphase

I issued a letter months ago, way before Christmas, to Barclays about a Barclayloan I took out in September 2002. This then ended last year at some point.

They have finally written back to say that I am too late to reclaim as it falls under the statute barred thing.

I thought this only applied to loans paid off over 6 years ago? I only settled it last year at some point.

Am I too late or can I still claim?

di3004

digitalphase wrote: »

I issued a letter months ago, way before Christmas, to Barclays about a Barclayloan I took out in September 2002. This then ended last year at some point.

They have finally written back to say that I am too late to reclaim as it falls under the statute barred thing.

I thought this only applied to loans paid off over 6 years ago? I only settled it last year at some point.

Am I too late or can I still claim?

Hi there

This should not be a problem, I would write back and tell them you want this looked at again.

I'm sure someone will confirm this, but some have even been successful from reclaiming PPI from earlier years.

If they don't deal with this then contact the FOS here, or ring them anyway and see what they have to say, good luck.
http://www.financial-ombudsman.org.uk/contact/index.html

I would personally ring the FOS anyway, and let them confirm this to you.;)

Please let us know how you get on. Cheers.

digitalphase

Thank you. If I write or ring them what should I say? Should I ask whether I have a case as I believe I was missold the PPI on a loan but the bank are saying it's too old to claim? Is there a template letter at all?

di3004

digitalphase wrote: »

Thank you. If I write or ring them what should I say? Should I ask whether I have a case as I believe I was missold the PPI on a loan but the bank are saying it's too old to claim? Is there a template letter at all?

Hi there

Just write back and tell them in regards of reclaiming your PPI, you are aware there is no actual time limit on this, as you are also aware of many reclaiming this product even from earlier years, tell them you had advice on this and appreciate them looking into this matter for you.

Also tell them you will take your complaint to the Financial ombudsman service (FOS) if they do not resolve this matter for you.

Just keep it simple.
If you still have a copy of the first letter you sent them, enclose a copy of this within this letter you are sending.

For more info and templates, you will find on the link here below, good luck.;)
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

digitalphase

Thanks, I will send that letter of to them shortly. Trying to get the rest of my Uni work done then I can focus on this. I hope I do get the PPI back as if I remember correctly it's for about £600.

di3004

digitalphase wrote: »

Thanks, I will send that letter of to them shortly. Trying to get the rest of my Uni work done then I can focus on this. I hope I do get the PPI back as if I remember correctly it's for about £600.

Good one and the interest to reclaim as well, when the time comes you could request for them to send you a "full written breakdown" of calculations, just to make sure nothing is amiss.;)

Don't worry we will help you all the way with this, even if it ends up with the FOS.;)

di3004

Oops forgot to say, good luck with the Uni stuff as well.:beer:

digitalphase

Thanks!

Natalie6999

southmoss wrote: »

Hi
Do you have the original agreement?
If you have i know how to help you.
First of all it's 6 years from discovery:T

Promoting your business on here is wrong, MSE is advertising free.

petermb_2

digitalphase wrote: »

I issued a letter months ago, way before Christmas, to Barclays about a Barclayloan I took out in September 2002. This then ended last year at some point.

They have finally written back to say that I am too late to reclaim as it falls under the statute barred thing.

I thought this only applied to loans paid off over 6 years ago? I only settled it last year at some point.

Am I too late or can I still claim?

Lenders like to think they can pull the wool over your eyes if they can. This issue of time barring is quite irrelevant but appears to do the trick in many cases.

The problem you have is that their chums at the financial ombudsman service, where all salaries for all the staff are paid for by the very lenders you are claiming from, will not assist you prior to FSA regulation of the particular institution.

This leaves you the option of seeking compensation from the courts.

As long as you know what you are doing you can do this yourself through the small claims court.

If your PPI premium is over £2500 you would get legal assistance for free. If your PPI is under £2500 you will be able to use a company that will charge you a fee for their services.

Those are basically the options open to you.

digitalphase

I have written back saying:

Dear Ms Flanagan,

Thank you for your letter with reference xxxxxx, which I received last week.

You say that my complaint falls outside of your scope for investigation, whereas I know that there is no actual time limit on this, and I am aware of many reclaiming this product even from earlier years.

I have had advice on this, and would appreciate you looking into my complaint again.

If you are unable to resolve this complaint, I will have to contact the Financial Ombudsman.

Yours sincerely,


So will wait and see their reply.