PPI Reclaiming successes and failures

dirty_monkee

Need some help understanding abbrieviations.

1. SAR + Explaination
2. FOS + Explaination

I've also made complaint over phone with Barclay card due to my cc ppi. They said they would send me a reply within 40 days althoug a complete resoulution may take upto 16 weeks. Is this correct? or are they fobbing me off?

di3004

weyford wrote: »

I've been reading this thread for some time and i'm really pse the amount of peeps that have got PPI back :j

I've got quite a few claims going through with the banks and have been told to wait 16weeks etc

Ive got a ACE/studio cards catalogue acc which im trying to claim PPI on today i received a letter saying because my acc has been covered since 5jan 2002 therefore we are unable to refund backdated chargers

is this correct ? i still have an active acc with them

any help would be brill thanks x

Hi there

Good luck on your reclaiming.

I would ring the FOS who may suggest the underwriter/insurer direction, as these would have been regulated, and the FOS have suggested this avenue to many in the same position, give them a call in office hours next week and explain, they should then advise from there, good luck.;)

di3004

dirty_monkee wrote: »

Need some help understanding abbrieviations.

1. SAR + Explaination
2. FOS + Explaination

I've also made complaint over phone with Barclay card due to my cc ppi. They said they would send me a reply within 40 days althoug a complete resoulution may take upto 16 weeks. Is this correct? or are they fobbing me off?

Hiya

A SAR is short for Subject Access Request, this is where you request for all your data held on you from each bank/company, you enclose the one off £10 cheque or postal order and they have 40 calendar days to comply.
If required there is a SAR template below.
https://forums.moneysavingexpert.com/discussion/1475553

And the FOS - Financial Ombudsman Service, this is a free organisation who you complain to if your not satisfied with the final outcome of your complaint, more details of this below.
http://www.financial-ombudsman.org.uk/consumer/complaints.htm

Complaints are taking longer than the usual 8 weeks, because they have a backlog, the Financial leasing Association (FSA) have given the main of the banks extra time, but they may still resolve before then.

di3004

BIKERCHIC wrote: »

Hubby was trying to reclaim PPI from Capital One from credit card taken out in 2004, he was sure PPI sold over phone but received a copy of the leaflet application he filled in and shows PPI box ticked, and also copy of small leaflet explaining benefit of PPI giving 30 days to cancel, hubby did not need this cover as covered elsewhere through employer, card is still running and not sure if can pursue this any further now :mad: Any advice on this much appreciated:)

Hiya

I would still give it a go on the reclaiming, afterall we've all had to sign the agreements but still had reasons to make a reclaim, don't let that put you off, go for it and keep at them, good luck.;)

IANC

haydens_mum wrote: »

Hi am looking for a bit of help...have had some success from capital 1 after initially being told outright 'no refund of ppi final response' on my OH card. He has had the card since 04 and apparently 'asked' to have ppi added in a phone call to activate a replacement card. I emailed to say that didnt accept this as he was serving in the army and would have been no use to him and why woud he ask to have it added at a kater date while still a soldier?! anyway after ringing again to actually cancel his PPI was told an offer letter had been sent. This also crossed over with the SAR request we sent to prov this phone call.

Anyway i wonderd if you think this offer is fair as hes been payin PPI on a 2-3k balance since december 05. Letter says:

Total redress consiists of
£683.61 in premiums
£24.09 in associated interest
£152.67 8% statutory interest
TOTAL: £860.37

Does that sound about right or should we wair for the SAR details so can go through and add up what he has paid for ourselvs ir take it and be happy that he got something when they orrigionaly said no??!!!

Any advice would be much appriciated!
Charlie.

I would be asking why they haven't calculated the interest that you paid on the PPI payments that were suffered whilst they were added to the Card.

To ensure you haven't been disadvantaged, they should repay it.

If the card had an APR of 18% for eg, the associated interest figure should be A LOT higher.

weyford

thanks so much for replying

hope everyone has a good weekend x

h0pusp0pus

IANC wrote: »

I would be asking why they haven't calculated the interest that you paid on the PPI payments that were suffered whilst they were added to the Card.

To ensure you haven't been disadvantaged, they should repay it.

If the card had an APR of 18% for eg, the associated interest figure should be A LOT higher.

mmmm ive had offers on nearly all my credit cards ect and im now wondering if ive had fair offers or just offers to keep me quiet some of my cards had 29% apr

so ive sent off for sars for both my mbna abbey credit card and my burtons menswear card through santander i also might think about requesting a sar through egg as well just to make sure

with my mbna abbey card they have only refunded me £256 ish and i had a £5000 balance since 2004 (although i phoned to cancel the ppi back in 2006) but i was still paying £30 a month in ppi for 2 years!!!! :eek:

also my burtons menswear card with santander they have offered me £1150 again i had a £2000 balance for 2 years and was paying ppi of £30 a month with a 29 % apr on the store card they have told me they havent got any records pre 2005 so they have worked out my ppi back to 1996 using the ppi payments from 2005 which was 50 p a month as i had a low balance at that time!!!

is this compound interest set out in the ombudsmans rules?? do they HAVE TO give this back or is it up to the bans who are refunding ??

MoonwalkExpert

LisaJH2000 wrote: »

Feel like Adrian Mole waiting for the giro!!!!

Had a claim upheld by MBNA, they stated 'we will send a cheque in 28 days'. I emailed them on 13th July stating that they hadn't sent the cheque within the 28 days. They were very apologetic and said they'd post ot that day and I should have it on 15th or 16th July.

So, 18th July and still no cheque!! I emailed again and was told it had definately been posted and to wait a couple more days.

20th July - still no cheque. I emailed again and asked that maybe they'd like to do a direct bank transfer instead because if they'd sent the cheque on 13th or 14th July it had obviously gone missing in the post. The reply came that if I'd not received it by Friday then they will 'review the options'

Today is 21st and no cheque came from Mr Postman! Anyone rate my chances for tomorrow's post?!!

Have you got your cheque yet?

I got a letter dated 25th June saying they would be sending a cheque within 28 days. So, I've sent an email to their CEO chasing them up for the cheque just now!

IANC

h0pusp0pus wrote: »

mmmm ive had offers on nearly all my credit cards ect and im now wondering if ive had fair offers or just offers to keep me quiet some of my cards had 29% apr

so ive sent off for sars for both my mbna abbey credit card and my burtons menswear card through santander i also might think about requesting a sar through egg as well just to make sure

with my mbna abbey card they have only refunded me £256 ish and i had a £5000 balance since 2004 (although i phoned to cancel the ppi back in 2006) but i was still paying £30 a month in ppi for 2 years!!!! :eek:

also my burtons menswear card with santander they have offered me £1150 again i had a £2000 balance for 2 years and was paying ppi of £30 a month with a 29 % apr on the store card they have told me they havent got any records pre 2005 so they have worked out my ppi back to 1996 using the ppi payments from 2005 which was 50 p a month as i had a low balance at that time!!!

is this compound interest set out in the ombudsmans rules?? do they HAVE TO give this back or is it up to the bans who are refunding ??

Not sure to be honest.

I have seen the breakdown of some people's offers that have included it and others that haven't.

I think if challenged, you will get it (I did)

At the end of the day, the whole point is to make sure you are put back in the same position that you would have been in had you not paid for PPI in the first place.

So, a refund of premiums is the first step.

The premiums were added to the card balance, so you paid a lot more for them, so you should receive the interest back.

And the 8% is a standard figure set out by the courts for a refund.

So I would be questioning it and asking why you are still out of pocket.

tifosi

di3004 wrote: »

Hiya

A SAR is short for Subject Access Request, this is where you request for all your data held on you from each bank/company, you enclose the one off £10 cheque or postal order and they have 40 calendar days to comply.
If required there is a SAR template below.
https://forums.moneysavingexpert.com/discussion/1475553

And the FOS - Financial Ombudsman Service, this is a free organisation who you complain to if your not satisfied with the final outcome of your complaint, more details of this below.
http://www.financial-ombudsman.org.uk/consumer/complaints.htm

Complaints are taking longer than the usual 8 weeks, because they have a backlog, the Financial leasing Association (FSA) have given the main of the banks extra time, but they may still resolve before then.

Di! you're getting your abbreviations muddled!

FSA = Financial Services Authority (Goverment led banking watchdog)

FLA = Finance and Leasing Association = a sort of ombudsman that applies to some store cards and car finance where no one else can help (NOT the A Team though!)