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Barclaycard Loan PPI
Ronnie333_2
Posts: 3 Newbie
Hi I wonder if anyone can advise me on this situation.
I have recently completed a 5 year loan with Barclaycard. At the time of loan I was aged 64 and self employed. The person I spoke to advised because of my aged it might be better to take out PPI and it seemed a good idea. He did state whether I took it out or not would not influence the loan decision.
Shortly after the loan was granted I received a letter stating that Barclaycard could not offer me suitable PPI but would pass my details on to Barclaycard Ireland. Being from Ireland I did not think anything about this however as time went by I did wonder why they should do this.
My yearly statements showed I paid the PPI monthly along with the loan repayment and I never missed any payments.
My final statement showed how much I had borrowed and how much I had repaid. In a block for PPI payments it showed NIL which I thought was strange.
Can anyone advise if it would be worth putting in a claim for mis selling.
Many thanks.
Ronnie
I have recently completed a 5 year loan with Barclaycard. At the time of loan I was aged 64 and self employed. The person I spoke to advised because of my aged it might be better to take out PPI and it seemed a good idea. He did state whether I took it out or not would not influence the loan decision.
Shortly after the loan was granted I received a letter stating that Barclaycard could not offer me suitable PPI but would pass my details on to Barclaycard Ireland. Being from Ireland I did not think anything about this however as time went by I did wonder why they should do this.
My yearly statements showed I paid the PPI monthly along with the loan repayment and I never missed any payments.
My final statement showed how much I had borrowed and how much I had repaid. In a block for PPI payments it showed NIL which I thought was strange.
Can anyone advise if it would be worth putting in a claim for mis selling.
Many thanks.
Ronnie
0
Comments
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Can anyone advise if it would be worth putting in a claim for mis selling.
Nothing you have said indicates you have been mis-sold. So, why would you want to put a complaint in?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Hi.
It was the fact the PPI was sold through Ireland and my final statement showed NIL for PPI payments.0 -
It was the fact the PPI was sold through Ireland and my final statement showed NIL for PPI payments.
That is a clerical issue. Not a mis-sale. Technically, you had a standalone policy that was not built into the loan. So, the loan is correct in not showing PPI as the loan PPI product was not used.
You had monthly premiums which is how they should ideally be. So, you cant use the single premium complaint reason.
You were not told lies to get it. So, nothing wrong there.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Ah well worth a try. Thanks for replies.0
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