Barclaycard have agreed to refund ppi but....

kelise

I have had a letter from the Financial Ombudsman who have advised B/Card have agreed to refund my PPi, but from their letter it seems like what they are saying is they will deduct it from the balance owed on my card.
Is this correct and if so it is right. As the money I have paid for the PPI is mine not what I owe them seperately on my card.

Thanks

di3004

kelise wrote: »

I have had a letter from the Financial Ombudsman who have advised B/Card have agreed to refund my PPi, but from their letter it seems like what they are saying is they will deduct it from the balance owed on my card.
Is this correct and if so it is right. As the money I have paid for the PPI is mine not what I owe them seperately on my card.

Thanks

Hi there kelise
Thanks for posting on this.

Apparently banks vary from one to the other.

On the one Credit Card my hubby has they did this with that one as well, although he does have a settled (older) one where this one is still ongoing with the FOS.

For more information Maxdp posted on how the FOS calculated refunds on a thread here, this should give you some idea.
http://forums.moneysavingexpert.com/showthread.html?t=1596473

Anyway, Congratulations.:beer::T:beer:

If you have no arrears, and not happy with the way this have been done, you can have a word with the FOS, tell them you have been out of pocket due to this and would appreciate if they could consider refunding you direct to help with debt of your own choice, if any.;)
Good luck.

kelise

No i have no arrears so I will ait to see what barclaycard say in their letter. Thanks for the advise. x

di3004

kelise wrote: »

No i have no arrears so I will ait to see what barclaycard say in their letter. Thanks for the advise. x

I personally think "in my opinion" especially when there are no arrears, that you should have that choice on how you want this repaid.
Hope now it all goes your way, fingers crossed.;):beer:

marshallka

di3004 wrote: »

I personally think "in my opinion" especially when there are no arrears, that you should have that choice on how you want this repaid.
Hope now it all goes your way, fingers crossed.;):beer:

Yes, if there has never been any arrears then really they are breaking the original contract with you which was to loan you "x" amount of money and then for you to repay at "x" amount per month. But if there has ever been any arrears then the consumer is breaking the contract also so this is why they would be entitled to take the redress against the balance (the contract was broken already and I think it states that in any t and c's that if you miss a payment etc etc etc). I think that it is wrong to redress against a balance where no arrears have ever been on the account.