PPI Reclaiming Discussion Part 5

Egg_Chaser_12

studapples wrote: »

Sorry I miss read that part Big cheque winging its way to you keep up the contact :beer:

Cheers!
Fingers Crossed.
upto now had £16K back but desperate to get everything back that I am due.

studapples

Egg_Chaser_12 wrote: »

Cheers!
Fingers Crossed.
upto now had £16K back but desperate to get everything back that I am due.

Happy days, we are near to getting 30k back but knowing our luck paper money will be worthless in a few years what with the world being in total melt down so have some fun with it while you can.

thecustomjunkie

Hello

I put in a claim to Barclaycard recently. They replied asking me to supply my account number, but as the card is quite old and the account is closed I don't have it.

I checked my credit file and the number is on there but mostly asterisked out (i.e. *** *** *** *** 1234).

Surely my name and address is enough for them to locate my account?

Is there anywhere else I could get the full number?

Thanks for any responses

PS - I claimed with Halifax on an old loan at the same time - that one went much better and they recently refunded me just over £2k, so it's well worth doing! Hence my keenness to get on with Barclaycard! :T

moneyangel22

Hi everyone,

I had an offer from HFC Im not sure if its correct though because my account was passed to a DCA part way through the loan term. Am I right in thinking the Insurance became invalid once I defaulted? I did however go on to make payments to the DCA on the full balance that had been passed over, eventually settling it with a F&F. So I am confused to how much PPI premium I have actually paid and whether or not to accept their offer??
They have calculated PPI paid until the date it was passed to the DCA. The PPI premium was front loaded with interest so the balance o/s that was passed to the DCA would have included some PPI right??

karengilbert78

Hi my husband has got a capital one credit card and we have just noticed that we have been paying ppi since 2006.
We gave cap one a call who have sent us out the form which states my husband signed up to it.
He wasn't sure what he was signing up for and also next to the boxes were crosses so he assumed that he needed to sign them,
Also on this form it doesn't state what this ppi is for.
Can anyone advise please?
Many thanks

benjamin99

amersall wrote: »

1) Yes they should as this is the interest on the actual PPI

2) the 8% is on a decreasing from the start date of the loan to the date they pay you out, each monthly PPI payment that you made, the 8% will be less each month so the nearer you get to the redress date, the less the 8% amount is.

Have they taken the whole PPI amount and interest off the loan balance as well as taking this back to the loan from the redress?, were you in arrears with this loan and is it still running?.

The redress they have given you is correct by the way.

Thank you for your prompt reply.

Yes the loan is still running and I still have a balance to pay off. The PPI premium added to the loan of £15,000 at 10.9% (60 months) were a premium loan of £3,017.89 and charge for credit of £876.11 = £3,894. So £64.90 was the PPI added to the monthly repayments making the monthly repayment of £387.50. The loan was taken out on 19th March 2004 and the first repayment started on 19th April 2004. I have made 21 monthly loan repayments, the last made on 3 January 2006 totalling £8,137.50. In September 2006 they have passed my debt to a debt collection agency, DM Ltd and at the time the outstanding debt was £13,753.82. I have been paying off and the current outstanding debt as of June is £7,568.84. Barclays have said that they will pay PPI premium of £3,017.89 and the interest incurred due to PPI of £629.82 towards the outstanding debt.

I cannot figure out how they calculated the 8% simple interest of £1,097.53.
Should I also ask for the repayment of the charge for credit of £876.11 which was added to the loan. If yes, should I ask the FOS to claim it for me because the Barclays letter states that this is their final offer in settlement.

I am sorry for the long running history. Your reply will be appreciated.

Regards, Benj

amersall

thecustomjunkie wrote: »

Hello

I put in a claim to Barclaycard recently. They replied asking me to supply my account number, but as the card is quite old and the account is closed I don't have it.

I checked my credit file and the number is on there but mostly asterisked out (i.e. *** *** *** *** 1234).

Surely my name and address is enough for them to locate my account?

Is there anywhere else I could get the full number?

Thanks for any responses

PS - I claimed with Halifax on an old loan at the same time - that one went much better and they recently refunded me just over £2k, so it's well worth doing! Hence my keenness to get on with Barclaycard! :T

You can use the digits that you have with name and address.

amersall

benjamin99 wrote: »

Thank you for your prompt reply.

Yes the loan is still running and I still have a balance to pay off. The PPI premium added to the loan of £15,000 at 10.9% (60 months) were a premium loan of £3,017.89 and charge for credit of £876.11 = £3,894. So £64.90 was the PPI added to the monthly repayments making the monthly repayment of £387.50. The loan was taken out on 19th March 2004 and the first repayment started on 19th April 2004. I have made 21 monthly loan repayments, the last made on 3 January 2006 totalling £8,137.50. In September 2006 they have passed my debt to a debt collection agency, DM Ltd and at the time the outstanding debt was £13,753.82. I have been paying off and the current outstanding debt as of June is £7,568.84. Barclays have said that they will pay PPI premium of £3,017.89 and the interest incurred due to PPI of £629.82 towards the outstanding debt.

I cannot figure out how they calculated the 8% simple interest of £1,097.53.
Should I also ask for the repayment of the charge for credit of £876.11 which was added to the loan. If yes, should I ask the FOS to claim it for me because the Barclays letter states that this is their final offer in settlement.

I am sorry for the long running history. Your reply will be appreciated.

Regards, Benj

The 8% can be worked out here on the bank charge calculator
http://www.moneysavingexpert.com/reclaim/bank-charges#step2
The calculator will keep a running total of the PPI that you paid and the 8%, the 8% should tally with what they have given you.

The charge for credit is the interest on the PPI and they have given you this back.

As the loan is still running, you should have only had 21 months of PPI returned to you as you have not paid the rest of the PPI back yet, they take the whole PPI amount off the balance of the loan, this looks like this is what they have done, the 21 months you paid have been taken off the arrears.

amersall

moneyangel22 wrote: »

Hi everyone,

I had an offer from HFC Im not sure if its correct though because my account was passed to a DCA part way through the loan term. Am I right in thinking the Insurance became invalid once I defaulted? I did however go on to make payments to the DCA on the full balance that had been passed over, eventually settling it with a F&F. So I am confused to how much PPI premium I have actually paid and whether or not to accept their offer??
They have calculated PPI paid until the date it was passed to the DCA. The PPI premium was front loaded with interest so the balance o/s that was passed to the DCA would have included some PPI right??

The PPI would have still been on the loan when this was passed over, they should take the whole PPI off the loan, this reduces the balance you owe, you should get the PPI back that you have paid to date with the interest.

Get back in touch with them and ask that they fully redress the loan to the present day, if they say they have ask for proof of what they have done and how they did this, if they only redressed the PPI to the date it was passed over, this is wrong.

Rammsoldat

Im making a claim, i got a credit agreement i signed for a £1,200 loan back in 04 and continuing to 08 that has the box asking if i want PPI saying no yet i got charged anyway, have a store card statement from 07 with a PPI payment on it.

Got the loan from GE money via comet but after calling around they all point me in the direction of santander so ive downloaded their questionaire and will send that off, wish me luck.