PPI refund after 1st template letter but only a small amount.

KellyGT

Hey all,

I planned on claiming back my ppi on my first ever credit card i got as it was automatically put on there. I've had the card about 6years and there has pretty much always been a balance on there of some sort, basically because i usually get quite alot of 0% offers to balance transfer.


Anyhow i sent off the first ever template letter off the site (the one asking for comprehensive list of the insurance charges etc)

I got a letter back off my bank saying how they have now cancelled my PPC and "refunded the appropriate amount to your account. Please accept my apologies for this error".

Now i have only been refunded £68. There is no explanation as to where this figure has come from and no breakdown of the charges which was requested in my letter. This year i have been paying approx £11pcm.

Any idea why i got a cave in letter? From what i've read on here i was expecting to have to go to the obodsmun etc

What do i do next? I thought it was possible to claim quite a number of years worth?

Any help appreciated like always

Kelly

marshallka

Did you send a reclaim letter or for a SAR (information they hold on you??)?

KellyGT

marshallka wrote: »

Did you send a reclaim letter or for a SAR (information they hold on you??)?

I sent this --

I am writing to request a fully comprehensive list of all the insurance charges added to my account with my Lloyds TSB Credit Card. If you are unable to provide this data, I will accept copies of my statements. I understand that statements on their own are not covered by the Data Protection Act, yet I’m not requesting the statements per se, but the charges, which I’m entitled to.

I look forward to your response within 40 days, as is obliged under the Data Protection Act 1998. If not I shall seek remedy from the Information Commissioner.
Yours faithfully,

marshallka

KellyGT wrote: »

I sent this --

I am writing to request a fully comprehensive list of all the insurance charges added to my account with my Lloyds TSB Credit Card. If you are unable to provide this data, I will accept copies of my statements. I understand that statements on their own are not covered by the Data Protection Act, yet I’m not requesting the statements per se, but the charges, which I’m entitled to.

I look forward to your response within 40 days, as is obliged under the Data Protection Act 1998. If not I shall seek remedy from the Information Commissioner.
Yours faithfully,

So I take it they have not sent you all this information? ALso this is not a reclaiming letter/questionnaire and if you had a complaint you would have to send one of those.

There is a reclaim guide here
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance?dd

Also credit card PPI is hard to reclaim. As you say it was put on there, how did you it get there? Did you fill this out online or was it a phone sale or in the bank?

KellyGT

marshallka wrote: »

So I take it they have not sent you all this information? ALso this is not a reclaiming letter/questionnaire and if you had a complaint you would have to send one of those.

There is a reclaim guide here
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance?dd

Also credit card PPI is hard to reclaim. As you say it was put on there, how did you it get there? Did you fill this out online or was it a phone sale or in the bank?

Sorry for the confusion but i was under the impression that the letter i sent above in previous reply's was what i needed to send first.
They didnt send me no information at all, just a letter stating what i quoted in my first reply. There is also no mention of the amount the have credit back onto my credit card as a PPI refund and no explanation of how they have come up with the sum of £68.

I was asked many years ago from Lloyds if i would like a credit card i said yes. It was my first ever experience with credit, the ppi was on there from the moment i got my first ever statement through. I had no idea it was optional and just always paid it. I cannot remember if i was asked about the card via a staff member over the counter in lloyds or if i recieved a letter off lloyds as it was around 2004.

Where can i go from here? Can i not reply asking for the last six years worth back? The fact they have refunded me and apologised so far must be a good sign that they know/agree it was mis-sold? Should i put this in a letter along with the questionaire from your link above?

Thanks for your help

KellyGT

In your link is this section -

The ‘Have I Been Missold?’ Checklist
Before getting into this, if possible get hold of a copy of your policy’s terms and conditions. If you can’t find them, contact your lender to ask for a copy (but make sure it dates back to the time of your agreement as terms will change over time). Lenders can ask for £1 to provide this but not all do so you could include a cheque for £1 (don't send cash though) to speed it up a little.
Letter Template: Policy terms and conditions

That letter is the one i used and hence why i sent it as i thought it was the first step.

marshallka

KellyGT wrote: »

In your link is this section -

The ‘Have I Been Missold?’ Checklist
Before getting into this, if possible get hold of a copy of your policy’s terms and conditions. If you can’t find them, contact your lender to ask for a copy (but make sure it dates back to the time of your agreement as terms will change over time). Lenders can ask for £1 to provide this but not all do so you could include a cheque for £1 (don't send cash though) to speed it up a little.
Letter Template: Policy terms and conditions

That letter is the one i used and hence why i sent it as i thought it was the first step.

OK so if you feel you have been missold as they just added the PPI to your card (but you need to be sure) you now need to complain about it and the reclaiming guide is in the link I gave.

You then have to allow the firm 8 weeks for a full and final response and then if they dismiss the complaint you can take it to the FOS.

KellyGT

How sure do i need to be?

I mean it was quite some time ago but if a member of the bank etc had told me about the PPI then i would have rejected it on the account like i did years later with future credit cards. As my employment covers all that stuff anyway and my employment hasn't changed from then til present.

If they did sell it correctly then is it now just a case of them stating this to me? However i am 99% certain that i didnt have any contact with anyone regarding this credit card. And would they have sent me a letter and refunded me straight away if they thought they could get away with it?

marshallka

KellyGT wrote: »

How sure do i need to be?

I mean it was quite some time ago but if a member of the bank etc had told me about the PPI then i would have rejected it on the account like i did years later with future credit cards. As my employment covers all that stuff anyway and my employment hasn't changed from then til present.

If they did sell it correctly then is it now just a case of them stating this to me? However i am 99% certain that i didnt have any contact with anyone regarding this credit card. And would they have sent me a letter and refunded me straight away if they thought they could get away with it?

If you were asked it you wanted PPI and you said "yes" and it was explained to you at the time then you would not be able to state it was missold to you. You need to be sure on this as they could prove anything you say maybe. (This is if it was sold in the bank maybe but was it maybe sold online or over the telephone or by post???)

WHy do you think it was missold to you? Was it definately sold to you be an advisor for instance? You said it was always there but how did you first take out the card?

KellyGT

It was either a case of when i was in the bank depositing some money into the account the cashier asked if i would be interested in a credit card and then had the information sent out via post to me. Or it came randomly in the post and i filled it out.
If the bank turns around and says that they have on record that i accepted the PPI then i would just have to accept that fact then wouldnt I, is there any harm in doing so? But i dont understand why i recieved the sorry letter and a refund from what must be this years PPI payments.