PPI Reclaim from Capital One Credit Card

sydneymj

Hi

My first post....

I took out a Capital One credit card out in 2002 and was sold payment protection insurance even though I was due start being self employed. I have used the template on the website for the letter to Capital One stating that I have mis-sold this insurance due to the fact it would have been worthless to me, has anyone else had a similar claim and been successful?

di3004

sydneymj wrote: »

Hi

My first post....

I took out a Capital One credit card out in 2002 and was sold payment protection insurance even though I was due start being self employed. I have used the template on the website for the letter to Capital One stating that I have mis-sold this insurance due to the fact it would have been worthless to me, has anyone else had a similar claim and been successful?

Hi there and welcome.;)

You will find by browsing through the threads that there are many who have complaints with Cap one, also check on the above success thread as well when you have time, this should give you some idea of the success with this company.

Good luck with yours and if they don't resolve your complaint on the first response, write back and tell them to reconsider or you will move on to the financial compensation scheme, in the final letter they should give details of the FOS anyway, but hopefully you will get a good result, fingers crossed and please keep us posted.;)

sydneymj

Many thanks I will have a nose around the forum

sydneymj

sydneymj wrote: »

Hi

My first post....

I took out a Capital One credit card out in 2002 and was sold payment protection insurance even though I was due start being self employed. I have used the template on the website for the letter to Capital One stating that I have mis-sold this insurance due to the fact it would have been worthless to me, has anyone else had a similar claim and been successful?

Hi had response from Capital One credit card this morning, explaining they will not be doing anything with my claim stating they have taped evidence and have done no wrong.

Is this their standard go away letter that everyone receives??

maxdp

sydneymj wrote: »

Hi had response from Capital One credit card this morning, explaining they will not be doing anything with my claim stating they have taped evidence and have done no wrong.

Is this their standard go away letter that everyone receives??

Yes it is.

Send the SAR letter of on the front thread and they should send you a copy of the recording. You can decide from there.
There are also instructions e.g. send of £10.00 give 40 days to reply and send by recorded delivery. Good Luck

sydneymj

maxdp wrote: »

Yes it is.

Send the SAR letter of on the front thread and they should send you a copy of the recording. You can decide from there.
There are also instructions e.g. send of £10.00 give 40 days to reply and send by recorded delivery. Good Luck

Hi thank you for the advice, with regarding SAR letter do I also need to send the 2nd letter that Martin has on the website asking justification of their decision?

marshallka

sydneymj wrote: »

Hi thank you for the advice, with regarding SAR letter do I also need to send the 2nd letter that Martin has on the website asking justification of their decision?

Its up to you there. If you want to wait for the SAR first this can take 40 days (but you could have evidence there to back up your complaint) or you can send the SAR request and also seperately (as this may be different departments here) send the letter number 2 (but i would try and make this your own words getting ideas from this as its often taken more serious - just my view).

sydneymj

sydneymj wrote: »

Hi had response from Capital One credit card this morning, explaining they will not be doing anything with my claim stating they have taped evidence and have done no wrong.

Is this their standard go away letter that everyone receives??

Had letter from Capital One today after sending second letter to them stating that have mis-sold me the PPi due to me being self employed, they have come back with an proportion offer of £870.00 for PPI on the credit card that has been running since 1992 with a average PPI premium a month of £30.00, which is very low in my opinion should be more like £2720.00 with interest, has anybody had a silly low offer and what happened when you argued the offer.

di3004

sydneymj wrote: »

Had letter from Capital One today after sending second letter to them stating that have mis-sold me the PPi due to me being self employed, they have come back with an proportion offer of £870.00 for PPI on the credit card that has been running since 1992 with a average PPI premium a month of £30.00, which is very low in my opinion should be more like £2720.00 with interest, has anybody had a silly low offer and what happened when you argued the offer.

Hi there.;)

I take it they have not admitted liability then, and offered you a offer of goodwill.
This is common, but if your not happy let them know and ask if they are able to offer a more reasonable amount, or still hold them responsible for mis selling on your reasons and request they repay the whole lot of PPI back, plus the interest.

Sometimes it works, but not always.
If they do not, then you can always go to the FOS, but it may be some wait, even though they are trying to get through as many of these complaints as much as possible as quickly as they can.

If you decide to take them to the FOS, and in financial hardship, you can always try requesting for "fast tracking" with your reasons, although there does seem to be a waiting list for this as well, but still it may all be worthwhile going to the FOS, if the business do not repay you what you have been out of pocket for etc.

Good luck either way.;)

Gezza09

sydneymj wrote: »

Had letter from Capital One today after sending second letter to them stating that have mis-sold me the PPi due to me being self employed, they have come back with an proportion offer of £870.00 for PPI on the credit card that has been running since 1992 with a average PPI premium a month of £30.00, which is very low in my opinion should be more like £2720.00 with interest, has anybody had a silly low offer and what happened when you argued the offer.

Hiya. I have had a 50% offer of a refund last month. However as I had to sue them for refund of my credit card charges I postponed the PPI claim until County Court notified me that my claim had been upheld and Cap 1 would send cheque for all my charges. Cheque arrived yesterday:j
Today, I have sent Cap 1 a letter to put them on notice that I intend to sue them again for 100% of PPI mis-sold premiums. FOS just takes too long. Will keep you posted.

sydneymj

Notified by Capital One today after I sent them a letter in August 2009 refusing the initial offer of £870.00, received final letter of £1754.00 which I have accepted.

Thank you Martin for all your help