Has anyone heard from Barclays since the gesture of goodwill letter?

Niggly_2

PJ74 wrote: »

Didn't get round to it last night but here goes.

This is for loan which still has 12 months to run.

Refund of payments made for PPI £4,264.53
8% per annum simple interest £709.46
Less any previous claim 0

Refund due £4,973.99

As this loan was part used to pay off a previous loan, you are also entitled to the following additional refunds relating to the PPI policy connected to the previous loan

Overpayments made due to residual PPI £495.80
Additional 8% per annum simple interest £82.48

Refund due £578.28

The above two refunds are added together and are what the acceptance form relates to.

I had a payment made into my account as mentioned on a previous post for an older loan and they broke it down as follows

Original PPI premium £1,765.41
Interest accrued due to PPI £375.53
8% per annum simple interest £590.62
Less any previous claim 0
Less early settlement £313.52
Less any other previous refunds made 0

Refund due £2,418.04


I know this is a long post, however hope it helps people

Thankyou for the above.

Did Barclays confirm what the new monthly payment was on the xisting loan and what was the payment on this loan before the refund.

Also I would be interested if they broke the figures down in this format which is what FP do. example below

We would like to offer you a full refund of the insurance premium together with interest paid on the premium to date plus 8% per annum simple interest. The information below explains how your refund has been calculated.

A. Refund of payments made for PPI - £6134.16
B. 8% per annum simple interest - £1274.38
C. Amount of Arrears Offset - £1745.63
D. Total Refund (=A - C - £4388.53

We will need to restructure your loan into the position it would now be in had the PPI policy not been added to the loan.

The calculation below shows how the refund will affect your loan:

D. Original PPI Policy - £0 (presume this is because I’ve had the cashback)
E. Interest incurred due to PPI - £5475.04
F. Total value of loan reduction for PPI premium and interest (= D+E) - £5475.04

Letter goes on to say … the refund of the premium will be applied to the balance of your loan. The 8% per annum simple interest amount indicated in row B will be paid to you directly and will not be affected by the loan adjustments.

The refund of payments made for PPI indicated in row A on the previous table may be paid to you directly, or alternatively, you may wish to apply this amount to your loan balance. If you choose to apply this amount to your loan amount, the monthly payments due will then be rescheduled accordingly. The tables below shows how your outstanding balance may be affected.

If you choose to receive your refund via a cheque, details of your revised loan amount are as follows:

H. Outstanding balance (protected loan) - £50604.36
I. Amount of Arrears - £1745.63
J. Revised loan balance without PPI if you choose to receive the refund of payments via a cheque (=H + I -G) +A - £53009.01
K. New monthly loan repayment - £440.67

If you choose to apply your refund to the balance of your loan, details of your revised loan amount are detailed as follows:

H. Outstanding balance (protected loan) - £50604.36
I. Amount of Arrears - £1745.63
J. Revised loan balance without PPI if you choose to apply the refund of payments to the loan balance (=H+I-G) - £46215.83
K. New monthly loan repayment - £401.77

Thanks N:beer:

Iain1983

Update:

Called Barclays today and they told me that my acceptance forms seem to of gone missing after receiving them on the 8th August, good job I phoned up then!! They explained that another set of forms had been sent out yesterday........... I kicked off a bit and provided my Royal Mail tracking code for the acceptance forms..... then they magically appeared after they actually went off to look for them!! All I can do now is wait and call back next week if I still haven't received the money.

Rebecca01

Hopefully soon Iain, everything takes ages.

I am still waiting,six days to go!!! Its the final countdown! lol

khayman1001

I rang again today as well. Got the usual fob off that I have come to expect from Barclays customer (everyones a manager) relations department. Two days ago calculations were on file 'should only be a couple of days, payment into bank account'
Today - 'we have undertaken to get these resolved by 31 august' will have to wait for acceptance letter etc.
Its amazing that you can speak to two different people and get two different updates.
So what happens when 31st comes and no reply?

klflosser

I am still waiting to hear on 2 loans that they said they were paying under the "goodwill" gesture. I have the paperwork but when I rang earlier this week they said they had nothing on their file. Find that difficult to believe.
Are there many still waiting to hear by 31st August?

PJ74

Niggly wrote: »

Thankyou for the above.

Did Barclays confirm what the new monthly payment was on the xisting loan and what was the payment on this loan before the refund.

Also I would be interested if they broke the figures down in this format which is what FP do. example below

We would like to offer you a full refund of the insurance premium together with interest paid on the premium to date plus 8% per annum simple interest. The information below explains how your refund has been calculated.

A. Refund of payments made for PPI - £6134.16
B. 8% per annum simple interest - £1274.38
C. Amount of Arrears Offset - £1745.63
D. Total Refund (=A - C - £4388.53

We will need to restructure your loan into the position it would now be in had the PPI policy not been added to the loan.

The calculation below shows how the refund will affect your loan:

D. Original PPI Policy - £0 (presume this is because I’ve had the cashback)
E. Interest incurred due to PPI - £5475.04
F. Total value of loan reduction for PPI premium and interest (= D+E) - £5475.04

Letter goes on to say … the refund of the premium will be applied to the balance of your loan. The 8% per annum simple interest amount indicated in row B will be paid to you directly and will not be affected by the loan adjustments.

The refund of payments made for PPI indicated in row A on the previous table may be paid to you directly, or alternatively, you may wish to apply this amount to your loan balance. If you choose to apply this amount to your loan amount, the monthly payments due will then be rescheduled accordingly. The tables below shows how your outstanding balance may be affected.

If you choose to receive your refund via a cheque, details of your revised loan amount are as follows:

H. Outstanding balance (protected loan) - £50604.36
I. Amount of Arrears - £1745.63
J. Revised loan balance without PPI if you choose to receive the refund of payments via a cheque (=H + I -G) +A - £53009.01
K. New monthly loan repayment - £440.67

If you choose to apply your refund to the balance of your loan, details of your revised loan amount are detailed as follows:

H. Outstanding balance (protected loan) - £50604.36
I. Amount of Arrears - £1745.63
J. Revised loan balance without PPI if you choose to apply the refund of payments to the loan balance (=H+I-G) - £46215.83
K. New monthly loan repayment - £401.77

Thanks N:beer:

The new payments are broken down as below (Residual PPI from what I gather is what was left from my previous loan when I took this one out)

H Original PPI Premium £4,527.33
I Intrest incurred due to PPI £888.83
J Residual PPI £526.36
K Interest incurred due to residual PPI £90.69
A Refund of payments made for PPI £4,264.53
E Overpayments made due to resdual PPI £495.80
L Total value of loan reduction (H+I+J+K)-(A+E) £1,272.88

Outstanding balance (protected loan) £7,027.81
Revised loan without PPI £5,754.93
New monthly loan payment £499.28

My current loan payment is £553 so come down £54 a month.

By the way, I have no idea whatsoever what most of these figures mean

Discodave

amersall wrote: »

Hope there is good news for everyone today,my sister in law received a cheque from Barclays tuesday,looks like those that were put on hold are getting paid.

well I rang Gladstone Brooks who are looking after my claim, and they said all those that went though a 3rd party (ie: GB), should receive an offer within 8 weeks of 4 July 2011 (so before 4 Sept, which is next week!)

They also said I shouldn't accept the 1st offer, as this may be lower than what I could receive.

I "think" my loan was £6000, over 5 years of £150.60 per month, which brings the total to around £9000k :eek::eek:

GB never really explained how much I should expect back, but If i'm correct, this should the difference between my loan (£6000 and the actual total with PPI = £9000?

If I get offered say £2000, how much "more" do you realistically think Barclays would offer a second time around?

Niggly_2

Discodave wrote: »

well I rang Gladstone Brooks who are looking after my claim, and they said all those that went though a 3rd party (ie: GB), should receive an offer within 8 weeks of 4 July 2011 (so before 4 Sept, which is next week!)

They also said I shouldn't accept the 1st offer, as this may be lower than what I could receive.

I "think" my loan was £6000, over 5 years of £150.60 per month, which brings the total to around £9000k :eek::eek:

GB never really explained how much I should expect back, but If i'm correct, this should the difference between my loan (£6000 and the actual total with PPI = £9000?

If I get offered say £2000, how much "more" do you realistically think Barclays would offer a second time around?

I only know of 1 client with GB I dont work for them I wouldnt promote them, but she did get a higher payment on her loan with FP than FP are currently offereing. The circumstances were complex. I would see what they had to say, in for a penney etc.....

Its not that simple re offer I am afraid

You should be offered at least a refund of the premiums you have paid plus 8% interest.

n

amersall

Hi Niggly,know this isnt on topic ....could you help with this please xx.
https://forums.moneysavingexpert.com/discussion/comment/46399365#Comment_46399365

Niggly_2

amersall wrote: »

Hi Niggly,know this isnt on topic ....could you help with this please xx.
https://forums.moneysavingexpert.com/discussion/comment/46399365#Comment_46399365

dONE:beer: