capital on Never ending story 2!!!!!

tiggerthetiger

These people are really a pain!! I turned down a "goodwill" offer of £615.46, because they say they do not admit I was missold the ppi on my credit card. I therefore asked for all statements. It turned out that I have paid over £1400 in ppi to them over the years!! I did tick the box to say I wanted ppi insurance but as I understood it, I thought I had to have it or I wouldnt get the card. They state that they are not upping their offer and stated I had a 30 day cooling off period to cancel. I am in debt and a debt company are still paying these people off, but up until someone told me about the ppi I was still paying even when I had defaulted I didnt know I could stop this and out of £34 a month I was paying through debt line, they were taking £17 for ppi!! Ithink this is totally wrong.

Can anyone suggest anything, I really couldnt go through court. Should I carry on?? They are really wearing me down

Sad to lose if this is the case

di3004

tiggerthetiger wrote: »

These people are really a pain!! I turned down a "goodwill" offer of £615.46, because they say they do not admit I was missold the ppi on my credit card. I therefore asked for all statements. It turned out that I have paid over £1400 in ppi to them over the years!! I did tick the box to say I wanted ppi insurance but as I understood it, I thought I had to have it or I wouldnt get the card. They state that they are not upping their offer and stated I had a 30 day cooling off period to cancel. I am in debt and a debt company are still paying these people off, but up until someone told me about the ppi I was still paying even when I had defaulted I didnt know I could stop this and out of £34 a month I was paying through debt line, they were taking £17 for ppi!! Ithink this is totally wrong.

Can anyone suggest anything, I really couldnt go through court. Should I carry on?? They are really wearing me down

Sad to lose if this is the case

Hi there

Sorry to hear of your issues here and hope its gets sorted out in your favour soon.
Have you tried contacting the Financial ombudsman service (FOS), you can go through these free of charge, I would give them a call, explain your situation, and ask if they are now able to help you.
http://www.financial-ombudsman.org.uk/contact/index.html

Keep at them and good luck.;)

PaulinWeston

Hi there ... when you say: "I thought I had to have it or I wouldnt get the card" Do you mean that the sales person told you this? (because if they did then that is one of the reasons cited as a mis-sold policy) - Or did you just 'assume' it? I think there's a difference and you need to be clear what your complaint is.

Assuming it was mis-sold - my personal advice would be DON'T GIVE UP !! - I know it's a horrid process (I've just finished a very lengthy litigation myself) - but you'll be rewarded in the end...

As for going to court.... well... This is the route that I took and, it's really not as difficult as you'd imagine - so don't dismiss it out of hand. One of the benefits you may get out of going down the 'court' route is that you can ask for interest to be repaid on the mis-sold premiums at the same rate as the credit card (which is probably more than the 8% statutory rate), the argument being that you would otherwise have used the money to pay off the credit card debt - and the judge may well aggree. More importantly, if you look at alot of threads - you'll notice that most companies settle before you get to a courtroom.

Finally - there's been alot of news recently about a claim that went to court where the judge ordered the return of the PPI premium because the credit card company had failed to disclose to the customer that they receivied a commission from the insurers. (If you want details, pm me as I have a copy of the case note)

Hope this helps.