Confused...

[Deleted User]

Hello,

I'm really sorry for asking some very basic questions, but I've used the search function and there are just so many answers that I can't trawl through the thousands of replies - and so I thought I'd post my simple questions here in the hope that others can come back with a simple answer in return.

In May 2005 I took out a graduate loan with PPI (Barclays).

Eight months later, I still hadn't received the paperwork or details of the policy, so I went into the branch and had it all broken down for me and reprinted.

As part of this, I was concerned about the PPI as in the previous eight months I found out that it was pretty worthless and I wasn't really at risk of any of the things it was protecting me against (very young, fit, healthy, employable and in no danger of redundancy). I went into the branch again and they restructured my loan in order to remove the PPI - but because of a series of customer service blunders, it wasn't until March 2006 (a year later) that it was removed.

Now, I hadn't given it two thoughts ever since - even though I've been an avid MSEer and have started doing things like reclaiming my bank charges back. But it's only today that I stumbled onto this section of the forum that I thought, 'hang on, I've paid 8 months worth of PPI'.

My question is really simple: how can I tell whether I can claim? I looked at Martin's guide and I'm pretty sure my PPI balance was applied up-front. How can I check whether I can claim this back?

Thanks...

[Deleted User]

Just to follow up on this message - I've just popped into my local branch (across the road) and have been told they have no record of the original loan on their system - they showed me their screen and although the new loan agreement is on there, the other one is not, despite other records going back beyond this.

So, they can't tell me how much PPI was paid etc.

Very confusing - am going to speak to Citizens Advice Bureau.

di3004

Hi there

It may be a good idea then to request for a Subject Access Request (SAR), these details/information they send to you may give you some idea, howerver, you do not require this to write in your reclaim letter.
It costs £10 postal order or cheque payment for a SAR, they have 40 days to comply, post by recorded delivery.
Link to SAR template here:
http://forums.moneysavingexpert.com/showthread.html?t=1475553

You can still continue to write to reclaim and give your reasons on your letter, they have 8 weeks in full to respond, you said you have already been through the PPI guidelines, go back on there to find templates as well to help you through this.
Post all letters by recorded delivery and ask for further help if required.

Please keep us posted, good luck.;)

[Deleted User]

Hi di3004,

Thanks for your response.

I am now even more massively confused and wondered if others could help?

Here's the facts:

April 05: Took out Barclays Graduate Loan. PPI applied up-front on top.
April 06: One year later (it took that long to sort out), Barclays cancelled my original graduate loan and provided me with a new one without PPI.

I can't find my original loan agreements and - having visited my local branch - have been told that they can't see them on their system. I don't know the loan number (because the loan # has changed) so can't write in to get this information - is that right?

What I would like to know:

- What the PPI applied was in the year before it was cancelled?
- What are the conditions on which I can get a refund?
- What happens if the terms on which the new loan (sans PPI) were provided were not as good as the terms on the original loan?

di3004

Deleted_User wrote: »

Hi di3004,
Hi there

Thanks for your response.
With pleasure.

I am now even more massively confused and wondered if others could help? We shall try.;)

Here's the facts:

April 05: Took out Barclays Graduate Loan. PPI applied up-front on top.
April 06: One year later (it took that long to sort out), Barclays cancelled my original graduate loan and provided me with a new one without PPI.
The SAR letter you sent to request all the information "should" provide all those details you require, if you do not want to send a SAR, write to them and keep everything in writing, that you request the information and any calculations of the 2 account of the above, they should be able to provide these details for you, any problem you can contact the Information Commissioners Office (ICO) who should be able to look into this for you, however, they may suggest you send a SAR anyway.
ICO contacts on this link here:
https://www.ico.gov.uk/Global/contact_us.aspx

I can't find my original loan agreements and - having visited my local branch - have been told that they can't see them on their system. I don't know the loan number (because the loan # has changed) so can't write in to get this information - is that right? If you live in England and Wales, they should hold all your details for up to 6 years, again any problem, you contact the ICO as stated above, and by requesting a SAR they "must comply with your SAR details by 40 days".

What I would like to know:

- What the PPI applied was in the year before it was cancelled?
- What are the conditions on which I can get a refund?
- What happens if the terms on which the new loan (sans PPI) were provided were not as good as the terms on the original loan?

They should provide the details of the amount of PPI to you or this should be shown on your agreement, if you just require the copy of the true agreement for now write to request this, do not ring, keep everything in writing, and enclose a £1 postal order of cheque payment, they should post this to you by 12 days, just for your CCA (copy of your agreement) post by recorded delivery.

The conditions will depend on your personal circumstances, if you were mis sold for any reason they have to repay you all the PPI you have paid, plus the interest etc.

If your not happy with the terms on the new loan, you can complain about that as well.;) As they all vary from one bank to another so possibly have different terms and conditions, if you can ask for a copy of the t&C's, or wait until you receive your SAR details.;)

[Deleted User]

I decided to write a letter: is this ok?

20th July 2009

Dear Sir or Madam,
I am writing to obtain information and clarity regarding an unsecured Barclays Graduate Loan that I took out in 2005, but for which the bank are unable to provide me with details for.
Before going into the specifics – which are quite complicated and confusing – it probably makes more sense to outline my questions so that these can be borne in mind when going through the detail:
-[FONT=&quot] [/FONT]Was PPI applied to my original graduate loan?
-[FONT=&quot] [/FONT]If so, how much was the PPI (total) and how much was paid?
-[FONT=&quot] [/FONT]Was this PPI refunded – in whole or in part – when the superseding graduate loan took effect?
-[FONT=&quot] [/FONT]Were the terms of the second graduate loan different to the terms of the first?
Here are the specific details of my letter:
In April 2005 (approximately) I visited the Sidney Street (Cambridge) branch of Barclays and made an application for a Graduate Loan with a graduate advisor. The amount requested was £10,000 and this was duly approved.
At the time, PPI was applied to the loan although I did not request it – and nor did it offer me any protection above and beyond any existing insurances I had at the time.
When I applied for the graduate loan, I was informed of my acceptance over the telephone and was told that forms and paperwork would be sent out by post. Eight months later, I had not received any paperwork so it wasn’t until January 2006 (approximately) that I discovered that PPI had been applied. It was at this stage that I took action to stop paying it.
From January 2006 to March 2006 I made a series of visits to the Farringdon branch of Barclays (close to where I worked) to discuss the PPI on my loan. During these visits I dealt with XXXXXX, which saw a subsequent complaint that was dealt with by XXXXXX in Barclays Customer service.
In visiting XXXXXX, I was advised that in order to remove the PPI I would need to close the original Graduate loan and take out a new way, without the PPI. This new loan was approved and was opened on 28th March 2006 – and the old loan was closed.
I am now interested in learning whether I am eligible to reclaim part (or all) of the PPI I paid out following recent statements by the Financial Regulators and Ombudsman.
Today, I visited the Oxford Circus branch (just opposite my office) to obtain the following information:
-[FONT=&quot] [/FONT]Original credit agreement for the graduate loan commencing April 2005
-[FONT=&quot] [/FONT]Figures for how much PPI was paid between April 2005 and April 2006
-[FONT=&quot] [/FONT]An understanding of exactly what happened when the new loan superseded the old one
Unfortunately, in spite of an extensive search of the system, the personal banker (XXXXXXXXXXX) showed me details on my accounts on screen and there was no evidence of the original graduate loan existing, despite all my other previous and subsequent agreements displaying .
Therefore, I am writing to you with the hope you will be able to provide me with answers to the questions above.
To reiterate:
Please could you provide me with a copy of my original credit agreement for the graduate loan commencing April 2005?
Please could you advise how much PPI was paid between this loan starting and the loan being superseded by the subsequent graduate loan of 28th March 2006?
Please could you explain in layman’s terms what actually happened when the new loan was taken out? The reason for this question is thus: I am concerned that where the second loan was taken out to replace the first (and remove the PPI), it may have been taken out on inferior terms and conditions to the original loan. How was the PPI refund for the remainder of the term worked out?
I look forward to your response,
Regards,
XXXXXXX

[Deleted User]

By the way, the XXXX at the end is blanking out my name, not kisses! I can think of many people I'd like to kiss, but not Barclays!

di3004

:rotfl::rotfl::rotfl:lol xxxxxxxx like it :rotfl::rotfl:, don't worry I know what you mean.:D

Yes great letter, well done, now get that off and post by recorded delivery.:T:T

Keep us posted and keep asking for help when you require this.;)

Di

[Deleted User]

Hi Di,

Actually, things get even more complicated.

At the time my second loan went through, I received a PPI refund from 16th January 2006 to 28th March 2006. This was from the first date I went into branch to cancel the PPI, up until the expiry of the policy.

The total refunded was £307.49 for this period.

I've just emailed the chap who handled that complaint as he was very senior and might be able to help again.

Thanks.

[Deleted User]

This thread got too confusing because I got my facts muddled, so here's a new thread with everything correct:

http://forums.moneysavingexpert.com/showthread.html?p=23477687#post23477687