Barclaycard PPI Claim, please help!!

Mr_Spice

Hi there,
I am currently in the process of claiming back my PPI and interest gained from Barclaycard. After a very long battle I have finally got an offer from them but it is nowhere near the amount I have calculated. The policy started back in February 2001 with an average interest of 1.7% per month They have offered:

A
Refund of payments for PPI Cover

£673.33

B
Refund of interest charged on PPI Premiums

£217.46

C
8% simple interest per annum

£493.86

D
Total Refund payable (A+B+C)

£1,384.65

This doesn’t make sense to me as I calculated it as using there average methods.

A
Refund of payments for PPI Cover

£673.33

B
Refund of interest charged on PPI Premiums

£1,520.19

C
8% simple interest per annum

£601.51

D
Total Refund payable (A+B+C)

£2,795.03

However I have done a full breakdown of the payments and interest gained on a monthly basis and worked it out to be about £4,000.


Can anyone help me with what I should be accepting as settlement?

Many thanks!!!

Mr_Spice

Well Im in contact with the head of barclays PPI complaints, but I am not receiving any responses to my emails, going to give up with trying to deal with Barclaycard and hope the Ombudsman can help me get my money and interest back....

Tommo2012

Mr_Spice wrote: »

Well Im in contact with the head of barclays PPI complaints, but I am not receiving any responses to my emails, going to give up with trying to deal with Barclaycard and hope the Ombudsman can help me get my money and interest back....

Just out of interest who did you contact?

Did you sign the acceptance form? You can always ask them to re-calc it

amersall

When you win redress with a credit card,the card is reset to a nil balance,when they recalculate the redress,you get the 8% only on a credit balance,some only go back 6 years unless you have proof of ppi paid previous to this and send the statements,does this help at all?.

tifo

Mr_Spice wrote: »

Well Im in contact with the head of barclays PPI complaints, but I am not receiving any responses to my emails, going to give up with trying to deal with Barclaycard and hope the Ombudsman can help me get my money and interest back....

Who did you contact?

I need to push things along, they've had my complaint in 'rework' for 4 months. They initially said they can't find the account and I sent them statements, since then i've had nothing back from them. Every time I call i'm told the 'rework' team have no time scales and it can take as long as it needs. That's ridiculous.

The Ombudsman is likely to take a long time, maybe 2 months if you're lucky or longer if the bank disputes the refund amount. A wait for an Ombudsman is about 18 months.