Barclay payout offer advice.

bestituta

I'm just looking some advice.

About 2 years ago I submitted a claim to barclays. I have had a credit card with them for about 15 years. This claim was turned down and I was informed I did not have PPI.

Now, out of the blue I have received a letter saying they had made a mistake. After further investigations they realised that I had being paying PPI, however they have been "unable to to accurately calculate your refund because our investigation has been unable to find any record of the premiums you paid and the term of your policy"

The letter then refers to Money Saving Expert and Which on how the matter should be resolved and they have offered me the "average" payout for my type of account, plus the average interest.

They also threw in a £50 compensation fee for wrongly informing me.

As I have no records of my own i was just wondering is this normal and should I just take the money, or is this the banks at their work to avoid a higher payout.

[Deleted User]

Take the money.

Two years ago you accepted a total rejection, no?

Why worry about "conspiracies" now?

dunstonh

Now, out of the blue I have received a letter saying they had made a mistake. After further investigations they realised that I had being paying PPI, however they have been "unable to to accurately calculate your refund because our investigation has been unable to find any record of the premiums you paid and the term of your policy"

This is not a surprise. Barclays have been going back over non-computer records and finding old info. However, they wont be able to find old statements. So, in accordance with FCA guidelines, they have to calculate a best guess on the available data.

bestituta

Thanks for that, thought i'd check just to make sure.

thedoctor1969

We filled in a claim for a Barclays Mortgage we had little information as the mortgage was paid off in around 2004.
We made a claim for PPI as we are pretty sure we had PPI from the original mortgage back in the early 90's, but only had some paperwork for the settlement.
Barclays came back saying that there was no PPI on this mortgage at all.
As we have no paperwork anymore, is there anyway to challenge this as we have heard some people getting a further letter after the fact.


Thank you.

dunstonh

thedoctor1969 wrote: »

We filled in a claim for a Barclays Mortgage we had little information as the mortgage was paid off in around 2004.
We made a claim for PPI as we are pretty sure we had PPI from the original mortgage back in the early 90's, but only had some paperwork for the settlement.
Barclays came back saying that there was no PPI on this mortgage at all.
As we have no paperwork anymore, is there anyway to challenge this as we have heard some people getting a further letter after the fact.


Thank you.

You need evidence to support your allegations. As it stands, you have complained about the sale of PPI but they say you didnt have it. So, unless you have evidence you had it, your complaint is dead in the water.

Information can turn up later that results in a change of decision. However, it is unlikely that a 2016 decision would have that without you supplying evidence. Plus, MPPI is a really easy one to see if you had it or not as it would have been on the statement each month as a standalone transaction.

Are you sure you are not mixing up MIG or life assurance with PPI?