MSE News: Had a Barclays loan? You could be due share of £100m payout after blunder

Florida15

Has anyone else had a refund at all

Thanks

Mrs_Ryan

Hmm OH has car finance with them and they've made one screw up after another so I might give them a call to ask them - his last statement was wrong but as usual they were blinking useless :mad:

50shades

Must just say Martin you are a living god,big thanks got a ppi refund from Barclay's (was a fight though)First started my claim in 2009,got 2 payments one for a loan one for Barclaycard.I have also pointed approximately six people in the direction of your website and they also have had refunds.(One who was really struggling)Then after many denials (from Barclays) received a another refund this year.I then enquired twice about the incorrect interest rates that I had been charged.First I was told I would be written to in October with a refund.Rang again in November and was told there was no refund due as it only applied to customers(or doughnuts as they seem to think we are)who had fallen into arrears.But going by the info here that seems not to be the case.Oh dear Barclays I fell a Gladiator moment coming on.And the CPP still to sort.Bring it on Barcalys.

London_Matt

This is my first post on here (please be gentle) but I am posting to let you know my experience so far with the Barclayloan Interest blunder.

When I first heard of this on the radio back in September, I decided to call Barclays and was advised that all loans were to be reviewed and customers would be advised by mail.

On Monday 18th November, an unidentified payment hit my account (£825.44) and when logging into my online banking, I was able to see the reference number on the payment exactly matched my Barclayloan. This was nice, with Christmas coming up and all. I went to use £500 of this windfall to pay down the loan still further and Barclayloan had disappeared from my list of payees.

Before I started dancing and attempting somersaults, I called Barclays and they advised that the miscalulation of loan interest on three loans (which were rolled into one) and the consolidated loan had been incorrectly calculated since 2010 to the tune of £3950.44. The £825.44 was the money left over after my loan had been cleared.

This coupled with PPI claims (Barclays, Capital One, MBNA, GE Money) means that I entered into 2013 with £8383.90 in debt and am about to enter 2014 clear of all debt and with £3500 in savings! Happy doesn't quite cover how I feel this morning.

I'll be posting on this site a lot more, but thanks to all and please post your experiences with Barclayloan when you get your stolen money back.

Matt

Roger216

Well done Matt that's great news.

Just called Barclays and they've been given guidance that all letters should be sent out by the end of November, but as that they hadn't looked at my account yet, I'll take that with a pinch of salt.

They also said that the accounts affected had generally fallen into arrears or similar.

LondonMatt - without prying too much, was that the case with your loan account?

London_Matt

Roger, I went into arrears for short periods on three occassions due to redundancy and sickness. There are also cases where people combined loans or refinanced and are due a refund.

I'm still to receive a letter but have been told the same, that accounts are being looked at and letters by the end of November. Of course they said that last month too!

Good luck to all with getting this cash back!

tinkerbell28

London_Matt wrote: »

Roger, I went into arrears for short periods on three occassions due to redundancy and sickness. There are also cases where people combined loans or refinanced and are due a refund.

I'm still to receive a letter but have been told the same, that accounts are being looked at and letters by the end of November. Of course they said that last month too!

Good luck to all with getting this cash back!

I think it's because these things would also trigger "additional" statements, like arrears would. Which is where the problem lay.

Hoping for a little refund. We took a loan had it very short term and paid it off. No arrears but we did request settlement figures, closing statements, etc.. I was convinced at the time we paid too much interest on it and the settlement wasn't right...

London_Matt

As of today, all this information has come from checking my online statement and over the phone.

When I receive the letter, I'll post an update and the wording the bank chooses to use.

BRITGUY

Got through to Barclays Loans yesterday and was told that if I'm due for a refund, I would be informed & repaid between now and July 2014

topsy73

Wow not quite the November date they were aiming for....it's the not knowing if you are going to get a 'special' envelope lol....