Russjo vs Barlcayloan

[Russjo]

Wow this is a new one and I can't believe what I'm reading. I'm going to give you the low down and would be grateful if you could give me your opinion.

Two and a half years ago my dad took out a loan in his name on my behalf (poor credit etc.) They told him that he had to have the PPI because of the amount borrowed. Furthermore, they've charged interest on top.

Even bigger than that, I'm sure he's considered to be self-employed (checking that first thing in the morning, bit complicated) and he has pre-existing medical conditions.

I know the loan was secretly for me, but it's all in his name and based on his circumstances. What d'ya think? Have we got a case and how much/what can we claim back if anything?

[hellhasnofury]

Originally Posted by Russjo

Wow this is a new one and I can't believe what I'm reading. I'm going to give you the low down and would be grateful if you could give me your opinion.

Two and a half years ago my dad took out a loan in his name on my behalf (poor credit etc.) They told him that he had to have the PPI because of the amount borrowed. Furthermore, they've charged interest on top.

Even bigger than that, I'm sure he's considered to be self-employed (checking that first thing in the morning, bit complicated) and he has pre-existing medical conditions.

I know the loan was secretly for me, but it's all in his name and based on his circumstances. What d'ya think? Have we got a case and how much/what can we claim back if anything?

Hello,

IMHO it is regardless as to who the money was for. It was your Dad that was sold the ppi on his loan.

I presume that you have read this sticky

PPI - Some Notes for Claimants.

Keep reading around the different ppi threads for advise and information. If you need to ask, just post your question and help and advice will be given.

Regarding the self- employment and pre-existing medical conditions, you need to read the terms and conditions of the ppi.

Maybe you need to send a subject access request to get all of the information. If you have all of the information already send them a prelim letter stating you reasons for the mis-selling and request they give you dad back his money

[Russjo]

Brilliant, thanks. I'm pretty sure from what I've read that we have a case, I'm just reading around for my sister now. She just recently cancelled her PPI on a loan. They reduced her loan amount by £750 and she's only had it just over a year. Not sure if we can proceed with this one now that she's cancelled it!

[Russjo]

Update! My dad is not self employed so that is not a problem. However, he does still have a pre-existing medical condition and what it says in the policy document is that you are not covered for accident/sickness/hospitalisation/permanent total disability/critical illness for pre-existing medical conditions (i.e. any condition, injury, illness, disease or sickness for which you had symptoms, consulted a doctor, received treatment or received medication during the 12 months before the start date). How do I argue this in the letter? I already have the arguement that he was told that he had to take the payment protection because of the amount borrowed, but the medical conditions would make my claim a little firmer.

[hellhasnofury]

Originally Posted by Russjo

Update! My dad is not self employed so that is not a problem. However, he does still have a pre-existing medical condition and what it says in the policy document is that you are not covered for accident/sickness/hospitalisation/permanent total disability/critical illness for pre-existing medical conditions (i.e. any condition, injury, illness, disease or sickness for which you had symptoms, consulted a doctor, received treatment or received medication during the 12 months before the start date). How do I argue this in the letter? I already have the arguement that he was told that he had to take the payment protection because of the amount borrowed, but the medical conditions would make my claim a little firmer.

Hello,

That is your agruement, he had a pre-existing medical condition. Which would make the expensive ppi useless.

[Russjo]

Ah ha! I get it now. Sorry but trying to understand this and work at the same time. Have to queue for internet access at home, so I have to squeeze onto a computer whenever I can. That's great...I love this site.

[Russjo]

Okay, got two letters from two offices (Leicester and London don't know why that's happened, I only sent one letter to the offices in London). Both letters are identical and have asked for me to hang on until 25th June. That's fine, I don't think that's unreasonable to give them a couple of weeks to sort their lives out

[hellhasnofury]

Originally Posted by Russjo

Okay, got two letters from two offices (Leicester and London don't know why that's happened, I only sent one letter to the offices in London). Both letters are identical and have asked for me to hang on until 25th June. That's fine, I don't think that's unreasonable to give them a couple of weeks to sort their lives out

Hello, at least you have had a response from them thats good.

Hope the next one is the offer of repaying back the ppi , but I wouldn't be too hopeful as yet While you are waiting for their response, be preparing all your information and reading the posts on the forum for the next stage.

Hopefully you next letter will be a Thank you very much for giving me the money back

Keep us posted

[Russjo]

I really hope so , but as you say, I'm not holding my breath. My main arguement is that they told my dad that he had to take the PPI and I don't think they're going to be able to prove otherwise . We'll see what happens

[Russjo]

Okay had a reply today and the key points are:

Must point out that PPI is not a condition of sale. Prior to opening the Loan Account you did sign Barclayloan forms of agreement which clearly stipulated that the Loan Agreement included PPI. If you were unsure about any aspect of the Loan Agreement, then the Forms of Agreement should not have been signed. By signing the documents you have confirmed that you fully understand the t&c's of the Loan and agree to them wholly.

Issue with a PP Policy certificate which outlined the T&C's. Furthermore you are given a 30 day period in which to cancel

They've sent copies of various documents, highlighting different bits and pieces but the Credit agreement with PPI on it, is not a copy with a signature on it. I must admit, I'm unsure of what to do next , so I'm off to do some reading unless anyone has any advice to offer . TTFN

[hellhasnofury]

Originally Posted by Russjo

Okay had a reply today and the key points are:

Must point out that PPI is not a condition of sale. Prior to opening the Loan Account you did sign Barclayloan forms of agreement which clearly stipulated that the Loan Agreement included PPI. If you were unsure about any aspect of the Loan Agreement, then the Forms of Agreement should not have been signed. By signing the documents you have confirmed that you fully understand the t&c's of the Loan and agree to them wholly.

Issue with a PP Policy certificate which outlined the T&C's. Furthermore you are given a 30 day period in which to cancel

They've sent copies of various documents, highlighting different bits and pieces but the Credit agreement with PPI on it, is not a copy with a signature on it. I must admit, I'm unsure of what to do next , so I'm off to do some reading unless anyone has any advice to offer . TTFN

Hello, standard fobb-off letter, but we will catch them out yet. It is like playing a stupid game. It may take some time to get there, but I think we play the game of softley softly catch a monkey

They will continue to state you signed and agreed to the ppi, right up to giving you the money back. Right, Have you sent them a CCA request for a copy of the true signed credit agreement. If not do so now and lets see what they come up with. It will be interesting to see what is on it?

Creditors and DCAs - Letter Templates & Budget Planner

Its letter N you need. It costs a £1 and they have 12 workings days to get it to you or they are in default and then one further month and they commit a criminal offence.

And did you get all of your info from your subject acces request?

[Russjo]

I didn't actually send an Subject Access Request on this one as I had a copy of the credit agreement. However, they did send a copy of the letter from when the loan was accepted and all the information that went with it. There is a copy of the credit agreement but not a signed one and the statutory notice form. I'll send off for the copy of the true signed credit agreement. Do you think I should send off a Subject Access Request as well?? I'm really gonna need you on this one Hell!! And my, were you up early this morning!!

[hellhasnofury]

Originally Posted by Russjo

I didn't actually send an S.A.R - (Subject Access Request) on this one as I had a copy of the credit agreement. However, they did send a copy of the letter from when the loan was accepted and all the information that went with it. There is a copy of the credit agreement but not a signed one and the statutory notice form. I'll send off for the copy of the true signed credit agreement. Do you think I should send off a Subject Access Request as well?? I'm really gonna need you on this one Hell!! And my, were you up early this morning!!

Hello russjo, No need to fret I, like the others are here to help and guide you.

I feel you do need to get a Subject Access Request and a CCA request out to them asap.

I know you have a copy of your credit agreement, but this maybe your ammunition, don't under any circumstances tell them you have it and lets see what they come up with .

Can you give me a breakdown of the figures on your ca.

The loan amount and interest charged on the loan amount.

The ppi premuim cost and interest charged (bet it doesn't tell you that)

The total charge for the loan and the term it ran over

This would be most helpful if you could.

Once we have the figures we can hopefully proceed further

I do need to tell you that I am not a legal expert and have only gained this information and experience through my own claims and reading the experiences of others on the forum, but if I can helop or steer you in the right direction I am happy.

[Russjo]

I know you are no expert, but you have more knowledge in this area than I do and I'm more than happy to follow your lead

Okay, the details I have are as follows:

APR 7.9%

Cash Loan £14,000
Total Charge for credit £2,331.52
Total Amount Payable £16,331.52
Monthly repayment £340.24
Number of repayments 48

Premium Loan
Amount of Loan £2,287.61
Total Charge for credit £381.19
Total Amount Payable £2,668.80
Monthly repayment £55.60
Number of repayments 48

Date of agreement 19th October 2004

On top of that, when my dad phoned about two months ago, they only offered £290 to cancel the policy and the usual blarb about have to take out a new loan. I'm assuming that the charge for credit is the interest, or am I wrong there?

[Russjo]

Credit agreement request on it's way in the morning