PPI Reclaiming successes and failures

di3004

mumofjanda wrote: »

Thanks Nat,

I've contacted the FOS and logged the complaint.Will prepare and send the paperwork over the week-end and then put it to the back of my mind for a few months....have a couple of others to be getting on with in the meantime!;)

It's actually my birthday today and I had the strangest feeling this morning that I would hear from Barclaycard today (response due by 12/10/11) and sure enough,came home this evening to a letter from them!

Good news and not so good news so advice needed please!!

The letter reads:'Our customary process would be to offer a full refund of the insurance premium together with interest paid on the premium to date but as the policy was sold so long ago we no longer have any records of the premiums paid,therefore impossible to calculate redress due'.
It goes on to say they are offering a goodwill gesture of £500 and if I have any records that will give them the information they need to calculate they will be happy to consider them.

I had this card for 11 years until Oct 2006 and will have a good look again to see if I can uncover any more statements but so far have only one statement that shows PPI.This is from 2006 and PPI payment was £28.00 (balance and limit around £3500). I know I paid PPI throughout and card was maxed out most of the time although had lower limits in previous years.

The letter doesn't actually state 'we admit we mis-sold' but surely the above is admission and as they state they are willing to refund at all and the account has been active within the last 6 years, surely they must have some records of the PPI I paid?!

Just realised as well that they have said I cant take to FOS as account opened before 2001.

Any ideas what to do next? Grateful for all advice on how to proceed. (I will never go near a shredder again!!:rotfl:)

Hiya

First of all Happy Birthday and hope you have a good one!
:bdaycake::bdaycake::beer::beer:.

Did you request a Subject Access Request (SAR) for this account?

They should at least go back to about 2005 (as said at least), and suspect they will still hold data going back to even earlier years.

I assumed Barclays were covered by GISC before the FSA taken over.....so in this case the FOS would be able to take this complaint on.
If you contact the FOS as a general query, ask them if they will confirm if this company were regulated by GISC before the FSA.

I know Lloyds were.

I definately think its worth trying directly with the branch by calling in and asking them as well of any details they may hold on this account, with one of mine it was the same, when requested in writing to the data dept, they insisted they did not have the details, but when asked in the bank they did. xx

di3004

mumofjanda wrote: »

HUGE CONGRATULATIONS TO YOU DI & ALL OTHER WINNERS TODAY!!:beer::beer::beer::beer::beer::beer::beer:

Thank you honey xx:beer::beer::beer::beer:

robs1234

Hi

Just got my credit card complaint upheld

PPI Premiums £4600.00
Contractual Interest £15975.53
8% simple Interest £877.00

Total £21,452.53

I'm happy with this as it included interest compounded. :T
Thanks again to everyone on this site for your help and advice.
Robin

offcumden

IANC wrote: »

I would definitely ask for the figures if I were you.

Just for example, my balance of my credit card is give or take £1200.

The PPI premium this month was £10.

Based on this, your 84 payments would be £840, but with a balance of 5 times, you could have paiid more like £50 in some months for the PPI.

They definitely haven't compounded each payment by the APR.

Ask for the figures broken down, you have nothing to lose and potentially everything to gain.

THANKS :money:IanC and Smithy
Hi Mapleoak
Sorry I didn't get back to you last week. I've managed to find a M&S PPI insurance policy document dated may 2003 which states the cost of the ppi did increase wef from 21/7/2003 to 75pence per £100 outstanding balance
I've been gathering what information I can before I get back to them It appears I took out the original charge card back (29%APR)in 1985 before it switched to a credit card 20years later.
I take it that they have not specified the period that they have calculated the refund over Ianc has taken the seven year period
I have worked mine out out at to an average of £25 x 41months @ 75pence per £100 outstanding based on the figures they have offered me.
It sort of fits but the I thought the contractual interest should have been compound as opposed to simple which it appears to be in our offers.
Having spoken with the Fos they have questioned why there is only a 1pence offer for the 8% simple interest.
Any thoughts from the Contractual Interest experts would be welcome

offcumden

mapleoak wrote: »

Hi,

I did post a few days ago but I realise people are very busy. I received an offer from M&S on CC PPI which they broke down as:-

Total PPI - £1260.82
Contractual Interest £850.22
8% Statutory Interest £2.86

This card ran from Oct 2003 until Sept 2010 with varying balances up to £6000+ with APR of around 17%

I am happy it has been upheld but there seems to be some disparity between how CC PPI settlements are calculated by different organisations.

Do those figures seem about right or should I simply ask M&S to say how they arrived at them, or are they likely to just refuse to provide any more detail?

It says I have 6 weeks to respond with the suggestion the offer will be withdrawn if I don't agree to their figures.

Any help or advice would be appreciated.

Regards

Bumping this as I can't do multiquote and it relates to the above post:o

ncd

Rae115 wrote: »

excellent news :j:j

if u dont mind me asking when did you put your halifax one in and how long did u hold your mortgage with them for.

is it only the 8% they pay on MPPI????? does anyone know this???

thanks

rae

Hi Rae115,
Apologies for the delay in getting back to you. I put my Halifax claim in back in June, my paperwork is at work so can't remember the exact date:o, and I have had a mortgage with them since Feb 2003. The refund goes back to then. Also yes it is `only' the 8% standard interest they pay on MPPI. Hope this helps and best of luck :beer:

parky5

Has anyone got any contact, preferably an e-mail for the top dog as GE Money dealt with my Debenhams Card.

Mousseschoice

Hi,

Does anyone have an email address for the CEO of Captial One? I've had a rejection, and I'd like a reconsideration!!

Tom_Evans

Thanks for CEO Info Di that will really help me - well here goes and I will keep you informed of progress

Tom x

supacute127

Hi all,

I wondered if anyone had any advise on my below situation?

I used to have a joint secured loan with my ex partner from the Halifax which had PPI cover included on it. The loan ran from around 2004 to 2007 when we split up, sold the house and subsequently cleared the loan.

I believe I was miss sold the PPI cover however I'm not sure how to make a claim as the loan was in joint names and I'm no longer in touch with my ex (or even have a desire to get in touch!).

Is there anyway of me making a claim without involving my ex?

The loan was originally to consolidate all my unsecured debt after I'd been very silly as a young adult, I had to persuade my ex to let me stick the debt on the house as I couldn't afford the monthly payments anymore. I personally paid all the monthly payments on it throughout the 3 year life span of the loan and used all my share of the equity when selling to clear the loan, so it's not as if my ex would be owed any of this money back (although in the eyes of the bank it was a joint loan!)

Any advise would be of help.

Thanks