monument c c

tjohnb

hi everyone new to this site Had a monument c c years ago paid it off last year .Always paid something called payment break plan every month can anyone tell me what this is as i have no idea

[Deleted User]

tjohnb wrote: »

hi everyone new to this site Had a monument c c years ago paid it off last year .Always paid something called payment break plan every month can anyone tell me what this is as i have no idea

I found this with a Google search:

PAUL210atLEGALBEAGLESCONSUMERFORUM wrote:

I'd need to see terms to be 100% sure with specific lenders but payment break plan is not usually insurance, is often used by sub-prime cards (vanquis etc).

usually set up as follows:
you make monthly payment with a set amount or % of balance, this money goes into a pot, after paying for a defined period of time (ususally 12 months) you are allowed to take 1 or 2 month payment break and the money in the pot is used to make the minimum payment. you don't need to prove loss of income to claim and can opt to take it at any time once the basic qualifying criteria is met.

Is more of a deposit scheme than insurance, as far as i'm aware isnt covered by ICOB rules although if lender is FSA authorised then the principles would still apply.


Read more at: Monument/Providian Payment Break Plan - Legal Beagles Consumer Forum

So not an insurance like ppi and not recoverable as a mis-sell? Perhaps others know more than I....

tifo

It's PPI and i've reclaimed it from Barclaycard (they bought the Monument card) ....

afcdons

Hi can you please advise how you went about claiming for the payment break please? many thanks in advance

tifo

afcdons wrote: »

Hi can you please advise how you went about claiming for the payment break please? many thanks in advance

Wrote to Barclaycard with Monument cc number ....

DJKris2010

tifo wrote: »

Wrote to Barclaycard with Monument cc number ....

Did you go direct to Barclaycard to begin with or did you write to Monument first as I've written (and just recieved) my T&C and Credit Agreement from Monument.

Having looked at this thread I now don't know whether to write to the Monument address or Barclaycard? What address did you use for Barclaycard?

Also if you don't mind me asking, how much did you manage to claim back? How long did it take? Any problems?