Barclay card ppi - what is ppi

Rooksy_2

Guys,i have looked at your threads cannot see anything similar, sorry if i missed it...simple question is this one.

i never did sign a ppi agreement with my card supplier, i have successfully argued my case when i found out i did not have to pay it, i recovered 1500 pounds and signed a full and final settlement,way back in 2008, shortly afterwards when i came to do my accounts, i noticed that ppi had been attached and that payment was being taken from my bank account, this time, since i had signed a previous full and final settlement agreement, i requested compensation of 100 pounds on top of interest and repayment of ppi. Now here is the crunch of the matter,Barclaycard have taken over and after over one year,they are willing to pay me back the money...however they say that my balance will increase as they will simply attach what they give me onto my credit card....is ppi an option payment that is paid on top of my minimum payment or does my minimum payment include the ppi which would justify them to attach the amount to my credit card balance.

here the scenario 2 people each owe 1000 pounds each pay back 50 pounds, if one has ppi worth 6 pounds attached is that person simply paying 44 pounds + 6 pounds ppi or would he pay 56 pounds with ppi on top of his 50 pounds

di3004

Rooksy wrote: »

Guys,i have looked at your threads cannot see anything similar, sorry if i missed it...simple question is this one.

i never did sign a ppi agreement with my card supplier, i have successfully argued my case when i found out i did not have to pay it, i recovered 1500 pounds and signed a full and final settlement,way back in 2008, shortly afterwards when i came to do my accounts, i noticed that ppi had been attached and that payment was being taken from my bank account, this time, since i had signed a previous full and final settlement agreement, i requested compensation of 100 pounds on top of interest and repayment of ppi. Now here is the crunch of the matter,Barclaycard have taken over and after over one year,they are willing to pay me back the money...however they say that my balance will increase as they will simply attach what they give me onto my credit card....is ppi an option payment that is paid on top of my minimum payment or does my minimum payment include the ppi which would justify them to attach the amount to my credit card balance.

here the scenario 2 people each owe 1000 pounds each pay back 50 pounds, if one has ppi worth 6 pounds attached is that person simply paying 44 pounds + 6 pounds ppi or would he pay 56 pounds with ppi on top of his 50 pounds

Hi and welcome.

I am rather confused on how they are dealing with this but PPI is absolutely optional, if they added this and you did not ask for this then your entitled to reclaim this on the ground of being mis sold, so basically you should be paying out less once this have been resolved, hopefully someone will be along to explain this in better detail for you, but please also check this useful link of the guidelines of reclaiming too:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance