Barclayloan PPI

Rhothgar

Moneyineptitude wrote: »

So any complaint about being simply a student will not hold water.

How will you show that you were forced into taking the PPI?

As -taff said, you'll also have to be able to show that you actually paid the PPI shown on any Agreement.

It's a fair point.

Not sure I have the fight in me to spend as much time as I would need to to find the damned bank statements. Took me long enough to find the agreements.

I never throw anything so they will be somewhere. Just don't know where to start looking.

[Deleted User]

Rhothgar wrote: »

I never throw anything so they will be somewhere. Just don't know where to start looking.

Perseverance here could be very rewarding...

Rhothgar

Moneyineptitude wrote: »

Perseverance here could be very rewarding...

I'm not sure how much energy I can invest in this to be frank.

I know one of the loans alone had £595 of PPI plus approx. £274 of interest on it and that was around 29-31 years ago if memory serves me correctly. What's that worth? I know they pay interest.

I posted on here a few months ago and got me knickers in a twist having read an old post which suggested that you get back something like 360 months interest + 359 + 358 + 357 and so on making the initial £870 inflate to something like £3000??? Someone commented that I had in fact calculated it wrong.

As you've probably guessed from reading between the lines, I am a hoarder. I have literally mountains of chattels and paperwork I would have to go through. I know I'll have them.

Bare in mind that it's taken me how many years to file one day before the deadline!

-taff

it will be whatever you paid, plus 8% simple interest, so if it was 595, it would be that, plus the interest attached to it on the loan, plus 8% simple interest for however many years, and 15% to1993.
It would be around 3000 in interest from about 30 years ago.

Rhothgar

-taff wrote: »

it will be whatever you paid, plus 8% simple interest, so if it was 595, it would be that, plus the interest attached to it on the loan, plus 8% simple interest for however many years, and 15% to1993.
It would be around 3000 in interest from about 30 years ago.

Thanks for that.



I had a thought the other day, bank statements or not. As I had a number of loans from Barclays over a 3 year period, does it not make sense that they would not have offered further loans if any had been defaulted on?

Of course, this makes sense and they can wriggle all they like, I think a judge will clearly see that assertion as a finding of FACT!

Why then do I need to turn my house upside down to find statements? To make Barclays life easier?

I think it's best I proceed with this. I can argue this point with them or the Financial Ombudsman or, if the FO doesn't come good, then a judge.

The only downside is without statements I couldn't prove that I didn't default on the last loan which was the smallest loan and PPI anyway.

It's got to be worth a shot hasn't it?

Rhothgar

Moneyineptitude wrote: »

So any complaint about being simply a student will not hold water.

How will you show that you were forced into taking the PPI?

As -taff said, you'll also have to be able to show that you actually paid the PPI shown on any Agreement.

I ave found a letter from the insurance refunding me just over £10 when one of the agreements terminated. That is surely sufficient evidence that a loan existed and was very nearly fully paid off?

[Deleted User]

Rhothgar wrote: »

I ave found a letter from the insurance refunding me just over £10 when one of the agreements terminated. That is surely sufficient evidence that a loan existed and was very nearly fully paid off?

It's not the loan you'll have to evidence: it's any PPI you may (or may not) have paid...

You'll also have to evidence your employment status at the time when the PPI was purchased...

Rhothgar

Moneyineptitude wrote: »

It's not the loan you'll have to evidence: it's any PPI you may (or may not) have paid...

You'll also have to evidence your employment status at the time when the PPI was purchased...

The PPI is definitely shown on the Credit Agreements and subsequent letters from the insurance company together with bank account numbers.

Can't ever recall closing the bank account to be honest.

How would I go about evidencing employment status? If you're a student you don't have an employment status bar the odd times when I worked nights. Would DWP have evidence of PAYE payments or similar? I could ask them.

[Deleted User]

Rhothgar wrote: »

The PPI is definitely shown on the Credit Agreements

Since these Credit Agreements could obviously have been cancelled at the outset (during the "cooling off" period), they are not cast iron evidence that you actually paid PPI.
You'll need bank statements showing the amount (including PPI) on these Agreements being paid.

If you think you have enough evidence to take this to court, I think you are very sadly mistaken. PPI was not even a legal issue, but a regulatory one...

As to proving your employment status as "student", that will definitely be required for any court case.

Rhothgar

Just reviving this thread.
On the credit agreements, it shows the amount of Premium Loan and Total Charge for Credit on top.
It also states that the Premium Loan (being the single premium payment to purchase life, accident and sickness cover) so it appears that the PPI was a single one-off payment.
I read somewhere that this can, in itself, be enough to win a complaint.  However, I cannot find where I read that.
Can some enlightened soul give me the lowdown on this or point me to a current valid thread on this subject?
Thanks in advance.