BarclayCard Optional Payment Protection Refund?

GreenMachine

My situation is that I have been paying Optional Payment Protection on my BarclayCard for the last 5-10 years although I have never actually had need of it or used it. Having not suddenly become unemployed nor having taken out massive amounts of credit upon it – never above a thousand pounds in fact, indeed, if I were to become unemployed I would ensure the bill was paid off as a matter of priority regardless.
I just wondered (before I contemplate transferring the outstanding pittance remaining to a 0% interest card) if the Optional Payment Protection was something one could seek to be refunded, or if I was just young/naive/stupid to select it in the first place!


Thanks to all in advance!

di3004

GreenMachine wrote: »

My situation is that I have been paying Optional Payment Protection on my BarclayCard for the last 5-10 years although I have never actually had need of it or used it. Having not suddenly become unemployed nor having taken out massive amounts of credit upon it – never above a thousand pounds in fact, indeed, if I were to become unemployed I would ensure the bill was paid off as a matter of priority regardless.
I just wondered (before I contemplate transferring the outstanding pittance remaining to a 0% interest card) if the Optional Payment Protection was something one could seek to be refunded, or if I was just young/naive/stupid to select it in the first place!


Thanks to all in advance!

Hi there:D

First of all I would check out Martin's guidelines of reclaiming, which also includes useful/helpful info and advice, if mis sold the PPI for any reason, then do give it a go, you write to them with the reasons you have and they have 8 weeks in full to respond, if your still paying for this then you can request to cancel the same time, (expecially if its worthless to you), do not worry about writing down the amounts, they should provide these to you if your successful, or you request they send them to you.

Many of us have been there, and most of the PPI have automatically been added to the Credit cards etc, but there are many reasons that may also apply to you.

Martin's guidelines of reclaiming here:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

When you write to them, you write to the ones who set this up for you, and personally I would also post by recorded delivery, for your proof of posting.
You must do what is best for you in this reclaim, good luck and please keep us posted.:);)

Di

GreenMachine

Thanks Di!

Fabulously helpful response! To be honest, I don't know that I'm really worthy of a claim, and I did skim-read Martin's bit on this. Personally speaking I think that as it is after-all, only optional, it should have been up to me (or I should have been assertive enough) to cancel this a long time ago!

I guess I selected it initially because I was naive and thought it would be a good thing to do/the done thing.

Will keep you posted on any developments though.

di3004

GreenMachine wrote: »

Thanks Di!

Fabulously helpful response! To be honest, I don't know that I'm really worthy of a claim, and I did skim-read Martin's bit on this. Personally speaking I think that as it is after-all, only optional, it should have been up to me (or I should have been assertive enough) to cancel this a long time ago!

I guess I selected it initially because I was naive and thought it would be a good thing to do/the done thing.

Will keep you posted on any developments though.

Your very welcome.;)

You are correct in stating about it being optional, but remember that we have all been in this position with these being optional and yet were still mis sold, in my case the bank only used to hand me the part to sign where they marked their own automated cross afterwards, so I used to assume that PPI was all part of the credit, so if cancelled I would have to cancel the actual credit card.......this was in 2001, was eventually successful.

They don't always explain these things in simple terms either, but hey we all live and learn.;)

Look forward to hearing the outcome of yours, fingers crossed.