virgin money ppi claim

jaysta

Hi people,

I know this may sound dumb but here goes. I opened a credit card with Virgin Money I think around June 08 basically for their 0% balance transfer deal (advice I had read on MSE.com). When I rang to arrange the balance transfer I remember the guy over the phone advised me to take out the PPI. I'm not sure but I remember the advisor saying it would be a one off payment as it's just the one balance transfer. I said that I would think about it and ring back. I rang back and went for it. I also remember ringing back again saying that actually I want to cancel it because accrue interest and would negate me going for the balance transfer in the first place. The advisor at the time I think said oh it's nothing to worry about as the interest would only be pennies.

Now, this is the dumb part. It's taken me until now to realise that it's not been a one off payment at all and that it has been a monthly payment of 79p per £100 on little over £4000. I've just received the last statement about 2 weeks ago and upon checking it out I just thought how is it I'm still not getting any lower than £4000. So this is how I've found out.

I've got all my statements together along with the welcome book for the VM CC. So far, after reading Martin's page on missold PPI and reading the welcome book I've gathered the following information and was wondering what you guys thought of what my next plan should be.

The welcome book says that I should receive a Certificate of Insurance, which I haven't received. Does this help my case?

On MSE.com it says that I should write a letter if I feel I've been missold the PPI and also if I have pre-existing medical conditions.

Should I write a letter on both grounds, all three or just one? I don't know what would be best as I don't want to spoil my chances. I feel like really stupid because it's been on my statement every month and I just thought that it had to be on the statement every month to show that I've still got this PPI cover.

Any advice, kick up the backside or help would be much appreciated

Thanks for your time too. Also, if there's a similar case already been posted then I do apologise. Please direct me to any other posts that maybe of help.

maxdp

jaysta wrote: »

Hi people,

I know this may sound dumb but here goes. I opened a credit card with Virgin Money I think around June 08 basically for their 0% balance transfer deal (advice I had read on MSE.com). When I rang to arrange the balance transfer I remember the guy over the phone advised me to take out the PPI. I'm not sure but I remember the advisor saying it would be a one off payment as it's just the one balance transfer. I said that I would think about it and ring back. I rang back and went for it. I also remember ringing back again saying that actually I want to cancel it because accrue interest and would negate me going for the balance transfer in the first place. The advisor at the time I think said oh it's nothing to worry about as the interest would only be pennies.

Now, this is the dumb part. It's taken me until now to realise that it's not been a one off payment at all and that it has been a monthly payment of 79p per £100 on little over £4000. I've just received the last statement about 2 weeks ago and upon checking it out I just thought how is it I'm still not getting any lower than £4000. So this is how I've found out.

I've got all my statements together along with the welcome book for the VM CC. So far, after reading Martin's page on missold PPI and reading the welcome book I've gathered the following information and was wondering what you guys thought of what my next plan should be.

The welcome book says that I should receive a Certificate of Insurance, which I haven't received. Does this help my case?

On MSE.com it says that I should write a letter if I feel I've been missold the PPI and also if I have pre-existing medical conditions.

Should I write a letter on both grounds, all three or just one? I don't know what would be best as I don't want to spoil my chances. I feel like really stupid because it's been on my statement every month and I just thought that it had to be on the statement every month to show that I've still got this PPI cover.

Any advice, kick up the backside or help would be much appreciated

Thanks for your time too. Also, if there's a similar case already been posted then I do apologise. Please direct me to any other posts that maybe of help.

OK well write to them in your own words stating the relevant points as above. e.g. you thought it was a one off PPI payment and that you have not received a certificate so were not aware that you were continuing to pay this. Explain the reason you transferred onto 0% was to reduce your debt and the PPI is not helping at all. You can also stop the CC PPI by giving one months notice. This will not affect your claim if you take this further.

Welcome by the way. Any more questions you have then please post again somebody here will I am sure be able to guide you.:D