PPI Reclaiming Discussion Part 5

nocharge

amersall wrote: »

Loan 7 should have the whole PPI amount for that loan taken off to reduce the balance and the monthly payment reduced by the PPI monthly amount, they have given you the PPI you paid to date back with the interest plus the 8%.

Thanks Martin, yes they have offered to pay back the full PPI amount off loan 7 and I assume will reduce the monthly D/D to reflect the removal of the PPI element.

The only other point I wanted to check was when refinancing Loan 4 to 5 and Loan 5 to 6 and Loan 6 to 7, would they have reduced the balance for refinancing by the remaining PPI element left on each current loan? I just want to make sure that they have not included each remaining PPI balance for each refinancing agreement?

Millers_Auto_Care

Hi my name is Andy.

Not sure where to post this but have done a separate thread for this.

Now from when I was 18 in 1998 I have been a bad boy with credit cards and loans. In total I think i have had around 6-8 credit cards and about 5 loans here and there. Companies range from, Egg, Hsbc, HFC, Morgan and stainley, Capital One, Santander, Amex, Barclaycard, Vanquish, Aqua and some others but cant remember all.

Now I know I have to fill the questionaire out for each company and send it too them but some of these I cant remember account numbers and some like HFC are not in business anymore?

Also for example my Capital One card which I got around 2001-2002 has a limit of £10,500 and well since I have had it has been near the limit all the time which is roughly £95ppi a month. So im guessing if successful that would be quite a high pay out.

Im just very confused as to do this right first time as I have had a lot of finance over the last 10years.

Would be grateful for any advice and where to start really.

Thanks,
Andy :beer:

gpricey

Hi all, names Glyn.

Just registered on the site, and about to start my own PPI journey and having read up on what to do and some of the stories on here I just wanted some advice if anyone has dealt with the issue I have with Barclarycard.

I took out my first (and only) credit card in September 2005. I had never had one before and as I was looking to move out of my parents and into a house soon I needed to get my credit rating going (or so I was told by my folks!)

I got a Barclaycard. The good news is I have all account details, lots of statements, and the opening and closing of the account letters (but nothing relating to the PPI)
What I don’t have however is any idea how I got the card be it via post, phone internet or in branch. I just can’t remember. My mind is telling me it was a postal application but I cant be 100% sure.

I was having checked my statements paying PPI and it was a lot most months from 2005 – 2009 when I closed the account as I got a joint credit card with my wife (which I have NEVER used!).

I have been through the relevant complain form from the FOS and have filled it in and printed out to send to Barclays, but I’m really not sure what I have written in the reason section is going to help or hinder my case due to not knowing how I took the card out.

I have put below what I had originally written to send them…

“I honestly do not remember 100% how I took this credit card out, it could have been via a postal appliction, could have been online or done over the telephone, it could EVEN have been in a branch. I cannot remember. Im sure this will be in your records of the account.

However I don’t remember ever taking to anyone about the insurance, and being my first ever card assumed it was standard and I HAD to pay it when I saw it on the first bill… nothing or nobody ever informed me it was option or not needed, and I belive it was taken out on my behalf without consent, and my niaevaty was taken advantage of.

As such I don’t belive I was ever corrently infomred about the policy being optional and its only now looking back I realise just how much this ammounted to over the course of a few years.

I had a good job with good sick pay/off work benefits, as well as money in the bank, and parents and assist me. The insurance was plainly not required.
Having recently looked at the paperwork for my credirt card that I realised I had been paying for insurance that I did not know I had taken out so could not have been explained to me in any way. I belive as it was my first credit card my inexperience was taken advantage off.

As im concerned about this issue and the potential money I lost I have consulted the FOS website about postal application (as im more convinced it was done this way than the other methods) and it states.

“So whilst it is important that the customer has access to the full policy documentation, it is not enough for the firm to say it met its obligations simply by sending the customer the policy document and highlighting the customer’s right to cancel the policy”

If you find this was the case (I cant track down any documentation of the sort due the time that has gone by) I will not accept it as a justification for what I consider was missselling of this insurance, and frankly myself being mislead.
I hugley dissapointed in the way this insurance was added to my account and Im really none the wiser how its fair to just add it and let people assume that its part of the deal in getting the card, when it was ENTRILEY optional”

So is that a decent thing to put?

The reason I’m worried about this, is it seems that Barclaycard, have been refusing a lot of claims over post or internet applications due to tick box issues (which is likely what’s happened in my case), but I really had no idea what I was doing at the time, and do feel like I was not informed of the reality of what I was paying for. Its only when all this was in the news I went back and checked my statements I even realised I was paying it (after telling my wife I would never have been that stupid!)
Also due to me not being able to remember how I took this out is it worth me sending off the for a SAR letter so that my claim can be more accurate?

Or is this all a case of me worrying too much about it and I should just send it get a response and go from there.

This thread has been great to review and see how others are dealing with there own issues, and I hope someone can be kind and helpful to me!

Thanks

Ps my wife has "found" a lot of old creditcards and loans she had (before we met), and a current credit card with PPI on so might be the last I ask for advice on this!

jenny45

Moneyineptitude wrote: »

Yes, the loan is so old that unless you find evidence that your father paid the PPI the complaint is a non-starter. The agreements aren't evidence of actual payment, I'm afraid.

Far too late.

I have just rang Santander and been told my claim for cc is over six years and they have no details but if I provide factual evidence like bank statements. I have bank statements showing direct debit for each month from 1996-2001 but it just shows one monthly amount and not a break down ...

my question is will I hold off from sending all these statements until I can get a SAR from MBNA (they took over cc 2001) to see if there is an original agreement and to find proof that there was ppi on cc from beginning.

I asked the fella at Santander and he said send them but tried to explain the fact that they would not show ppi just a monthly deduction but he kept saying send them...

I am so confused now

xyellowx

rant/ update on claims

barclay credit card phoned last week no update wait the full 8 weeks, phoned again "we sent you a fos queationaire out 3 weeks ago for more info you havnt sent it back " nothing come in the post

halifax "we sent you 3 letters out after each time you rang up " havnt received anything in post so i asked if my cheque had been issued yet "no sir not yet but will be soon" i explained it wasnt good enough and was going to empty savings account and transfer mortgage 2morra "hold on sir ive just noticed your cheque was posted today" load of bull

car finance company "we sent you a letter 3 weeks ago in post" nothing come

how long can they keep bull sh1ting us for keep saying they have posted letters when they clearly havnt ?
my post comes everyday 1-4 letters a day so nothing wrong with the post

longcoat

Hello all,its my first post so be gentle.I am looking for a little advice please.
I am looking at claiming PPI mis selling on an old mortgage I had with the HSBC bank.I think it was around 1995 but have no paperwork.
Is it worth persuing this? and if so how should I go about it.
Any advice would be gratefully recieved as I have never done this before
longcoat

amersall

cragdoo wrote: »

How can the insurer be held responsible, as they didn't have any contact with me what so ever. Welcome decided what product was best for me (without giving any choice) and sold it to me.

Because Welcome were not regulated in 03 so they cannot be held liable for the mis sell with any of the financial regulators, this is why you have to put the complaint into the insurer and if they come back and say they are not paying, then the FOS may help you chase the insurer, it is their policy that you paid upfront for, they have had their money back.

amersall

longcoat wrote: »

Hello all,its my first post so be gentle.I am looking for a little advice please.
I am looking at claiming PPI mis selling on an old mortgage I had with the HSBC bank.I think it was around 1995 but have no paperwork.
Is it worth persuing this? and if so how should I go about it.
Any advice would be gratefully recieved as I have never done this before
longcoat

Due to the year you may have a problem, you have no paperwork and the HSBC won't either I am afraid as the data is most likely destroyed.
You really need statements to take this further.

amersall

andrewsmike wrote: »

Hi guys,

I have requested a copy of my credit agreement and financial statement from a loan taken out with barclays using the template letter on this site and they have given the below response:

Thankyou for your request for a copy of a credit agreement and financial statement.

Our systems show that there is no sum payable under the credit agreement and therefore there is no requirement for us to comply with your request.

Can they do this? My PPI payments made up around 30% of my loan and I geniunely believe I was mis-sold this.

Mike

You need to send a Sar request

https://forums.moneysavingexpert.com/discussion/1475553
Ask for all info they hold on you and give them 40 days to respond.

amersall

The letter I got from Blackhorse showing how my redress was worked out is as follows:-
Total sums paid towards cost of policy via monthly instalments £742.64
Sum paid towards the cost of the policy within early settlement figure** £1756.22
SUB TOTAL £2498.86
8% statutory interest £1267.45
TOTAL REDRESS DUE ££3766.31

Now this is what I don't understand the figure with the ** has a footnote on the letter "Even though your agreement has been paid in full, you have not paid the full cost of the policy as shown on your agreement as we gave you a rebate of £4564.99 when you early settled the agreement".

The redress is correct and you should have accepted this 2 years ago, they have given you the whole PPI amount back, less the rebate when you settled early, add the rebate and the PPI together that you have had back and this will be the total original PPI and interest with the PPI that you paid back in settlement and they have given you the 8%.
Contact FOS and tell them you will accept the offer.