Barclaycard's PPI offer

Cosmic_Girl_2

Hey,

We got our offer letter today (hooraaay) but it's a bit on the skinny side (boooo).

The PPI we were being charged by Barclaycard was doubling our minimum payments, and so where we missed a monthly payment of say £60, it would automatically rollover to a £120 minimum payment the following month when actually each monthly min payment should have been (without the PPI) around the £30 mark.

So, by missing a month, what should have been £30ish would become £120 and so on.

Barclays have offered to refund what we've paid in premiums, plus the interest, but whereas £30 a month was manageable, we often couldn't find the rocketing figures being asked for as minimum payments once we'd defaulted.

As a result, we're now £700 over the card's limit, with an offer of £1k to reimburse the premiums.
Surely that doesn't put us 'back in the position we would have been in had we not have been missold PPI'?!?

Or is that as good as it's going to get?

Any advice as to how to respond to Barclaycard please? No rude suggestions ;¬]

Thanks

di3004

Hi there

Well done on your offer.:beer:

If there are any debt left on the card, then they normally refund the award directly to the debt and in some cases refund the remaining directly to you, I'm sure someone will be along to explain in better detail soon, good luck.

Niggly_2

Cosmic_Girl wrote: »

Hey,

We got our offer letter today (hooraaay) but it's a bit on the skinny side (boooo).

The PPI we were being charged by Barclaycard was doubling our minimum payments, and so where we missed a monthly payment of say £60, it would automatically rollover to a £120 minimum payment the following month when actually each monthly min payment should have been (without the PPI) around the £30 mark.

So, by missing a month, what should have been £30ish would become £120 and so on.

Barclays have offered to refund what we've paid in premiums, plus the interest, but whereas £30 a month was manageable, we often couldn't find the rocketing figures being asked for as minimum payments once we'd defaulted.

As a result, we're now £700 over the card's limit, with an offer of £1k to reimburse the premiums.
Surely that doesn't put us 'back in the position we would have been in had we not have been missold PPI'?!?

Or is that as good as it's going to get?

Any advice as to how to respond to Barclaycard please? No rude suggestions ;¬]

Thanks

They have to put you back in a position as if the PPI didnt exist on the account. They must return the PPI payments with the associated interest on the card as a minimum. Also if the ppi tipped you into late payment charges and interest you should ask for this back too. pretty much as you have described above.

Then take out scissors and ...........
:beer:n