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YAY! We did it....

sammyjo_3
sammyjo_3 Posts: 70 Forumite
in Loans
we got our PPI cancelled with Barclays and they have admitted they mis-sold (not in so many words) it to us and will refund the whole lot! Thats just short of £6000! :T

One thing though, does anybody know if the interest automatically gets deducted too. It was £6000 for the protection and then another £2000 in interest, so does that mean that for the last 18 months we've been paying it we'll have been charged? :confused:

Anyway am so happy! :j
Time to make a change .......
Total debt £25,930 :eek:
debt free date - Sept 2011 (will try my hardest to reduce it!)

Proud to be dealing with my debts:D

Comments

  • Seaxwyn
    Seaxwyn Posts: 4,896 Forumite
    Wow that's absolutely fantastic news, well done!
    Total debt: 1 January 2007 £[strike]49,387.79[/strike] 1 January 2012 £[STRIKE]19,312.85[/STRIKE] 1 August 2012 £11,517.62



  • newlywed
    newlywed Posts: 8,260 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Great, well done. Just got OH to send off a letter to Black Horse as he's always been self employed and been paying PPI :eek:

    Just waiting to hear back now... fingers crossed.
    Newlywed at the point I joined the forum... now newly separated
  • Katyag
    Katyag Posts: 1,217 Forumite
    sammyjo wrote:
    One thing though, does anybody know if the interest automatically gets deducted too. It was £6000 for the protection and then another £2000 in interest, so does that mean that for the last 18 months we've been paying it we'll have been charged? :confused:

    Anyway am so happy! :j

    Well when we got our PPI back from Lloyds TSB we got a sum plus interest so i would think youd get some interest too but thats not definate.
    Bringing up 2 handsome boys and 1 gorgeous girl the MSE way!
    Joseph born 19th December 2001
    Matthew born 8th August 2007
    Tara born 23rd January 2011
  • fabwitch_2
    fabwitch_2 Posts: 1,756 Forumite
    Great news well done
    Competitions wins 2010

    LG Cookie Fresh Mobile with £50 credit, Kiss 100 on FB
    .:j
  • Xbigman
    Xbigman Posts: 3,922 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Wait and see if they pay the interest back, if they don'y you just start a claim for it.
    Regards



    X
    Xbigman's guide to a happy life.

    Eat properly
    Sleep properly
    Save some money
  • lil_me
    lil_me Posts: 13,186 Forumite
    10,000 Posts Combo Breaker
    Great news, but double check down the line that they have refunded it off the account, just had hassle with a friends loan where PPI was cancelled but when checked 2 years down the line it haddn't been credited to the account, complaint been made unsure what outcome will be achieved so far, but pressume they should refund interest aswell if admitting incorrectly sold.
    One day I might be more organised...........:confused:
    GC: £200
    Slinkies target 2018 - another 70lb off (half way to what the NHS says) so far 25lb
  • sammyjo_3
    sammyjo_3 Posts: 70 Forumite
    Well went into the bank on Saturday after receiving new paperwork and yes the ppi has been refunded and the interest. They have also knocked about £95 off the loan as they can only round up or down by a hundred and they rounded down for us! My husbands payments have also dropped by £120 a month...... :j

    That will now start paying off the overdraft.......

    Debt free is getting a little closer :j :j :j
    Time to make a change .......
    Total debt £25,930 :eek:
    debt free date - Sept 2011 (will try my hardest to reduce it!)

    Proud to be dealing with my debts:D
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