Claiming against Monument Payment Break Plan

JAL99

I wrote to Barclaycard (who took over my Monument card account a year or so ago) to request a refund for the Payment Break Plan (PBP) which I believe I was mis-sold. They have written back to say that PBP is not insurance like other PPI, and anyway, they will not refund me or deal with the matter further, as I was sent Terms and Conditions and I could have cancelled at any time. I still believe it was mis-sold as I it wasn't suitable for my needs (am self-employed and would not meet their criteria for a claim) and also I was pressured into taking it and told I needed to have it etc. Am I right in thinking this? To me, it's clear mis-selling but this has confused me. Has anyone else had a similar experience?

di3004

JAL99 wrote: »

I wrote to Barclaycard (who took over my Monument card account a year or so ago) to request a refund for the Payment Break Plan (PBP) which I believe I was mis-sold. They have written back to say that PBP is not insurance like other PPI, and anyway, they will not refund me or deal with the matter further, as I was sent Terms and Conditions and I could have cancelled at any time. I still believe it was mis-sold as I it wasn't suitable for my needs (am self-employed and would not meet their criteria for a claim) and also I was pressured into taking it and told I needed to have it etc. Am I right in thinking this? To me, it's clear mis-selling but this has confused me. Has anyone else had a similar experience?

Hi there

In my personal opinion PPI or not - if you paying out for something that you do not want, or maybe not eligble for, or it maybe worthless to you, then you should still have the right to try and reclaim on this.

Like the PPI complaint, if they do not resolve in your favour by 8 weeks then complain to the financial ombudsman service (FOS).

Maybe someone who may know more about this other policy will have their own opinions on this for you.

So what exactly is this PBP?

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

marshallka

JAL99 wrote: »

I wrote to Barclaycard (who took over my Monument card account a year or so ago) to request a refund for the Payment Break Plan (PBP) which I believe I was mis-sold. They have written back to say that PBP is not insurance like other PPI, and anyway, they will not refund me or deal with the matter further, as I was sent Terms and Conditions and I could have cancelled at any time. I still believe it was mis-sold as I it wasn't suitable for my needs (am self-employed and would not meet their criteria for a claim) and also I was pressured into taking it and told I needed to have it etc. Am I right in thinking this? To me, it's clear mis-selling but this has confused me. Has anyone else had a similar experience?

When was this applied to your account? I know it does not look to be insurance related but have you asked the Ombudsman for advice on if they can look into this?

JAL99

Thanks for your responses. PBP is a scheme that allows you to put your account on hold for up to 30 months in the event of illness/unemployment etc and not make charges over that period. I didn't know it was different to PPI at the time and had I known (and wasn't pressured into buying it) I would have known it wasn't suitable for me (as self employed anyway). I no longer have the T&Cs but I am sure it was mis-selling in the same way as PPI. If anything, it seems even more useless than PPI! But it still cost around £20 a month every month for several years before I knew to stop it. Any further help/advice gratefully received!

Wanderer78

Hi, I am also in the middle of a similar claim. I received exactly the same letter. It's on behalf of my Dad who is also self-employed and who gives it to pressure from these pushy telesales people.
I have complained to the FOS about Barclaycard, who now own the account, and am waiting to hear.
I have just resolved another claim aganist Barclaycard for mis-sold PPI and late charges. I took them to court and they bluffed for a while and sent solicitors letters, but have just offered me the full ammount plus 8% compensatory interest as apparently it would cost them more to defend than to pay up (£1122). They gave me the usual without prejudice stuff about how I was wrong really etc.
So if I fail through the FOS (who I don't rate very highly) then I might take this to court as well. The PBP refund plus the charges I am reclaiming with again be around £1000.
Let's keep each other posted.

SAginghippy

How are people claiming their PPI? are you dealing direct with Monument (Barcley Card) or are you going direct? if you are going direct? has the postal address changed? Im going to claim for around £1300 but it was on a Providian then Monument card.

Niz786

Has anyone been successful in claiming back money for Payment Break plan yet? This was certainly a miss sell as far as I am concerned. If fact it was added to my account without my knowledge.