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I need some help, a friend of mine borrowed £50K from Baclays in 2005 and was then charged £9965 in payment protection insurance. It was a single payment on top of the loan which amounted to £59965, her payments were £449 a month and now she was paid the whole loan off.
Can she claim her PPI back because she insisted that she was forced in it or else they would not give the loan (there is no evident on that)
I keep finding the same questions coming up so I have got a nice little copy and paste info for you which hopefully will help start you off:-
You need to identify the reasons you feel you were mis-sold (e.g you were self employed, you already had a medical condition, you were unemployed, they insisted you had to take it out etc etc) see this thread for a list of reasons
You will also need to have all of the information to start with so if you don't already have all the statments, settlement Breakdown and contracts etc then send the following SAR with a postal order for £10 to make the request (they must provide this information within 40 days) Also make sure you send the letter recorded delivery and keep the proof they received it.
Once you have all the info you can then send off the mis-selling letter template, these letters can be found in the first post of this thread (scroll down the post til you found the heading "Template Letter 1"
Hope that helps start you off! I would also suggest you have a read around the PPI forum particularly in the stickies at the top as there is alot of helpful information to assist you along the way and keep us updated
It was a single payment on top of the loan which amounted to £59965,
Single premium policies are frowned upon by the Financial Services Authority who made a ruling on 14 Jan 2005. If your friends policy started after this then you have a good case for a complaint on the single premium issue.
If the policy was after the above date then you can ask for a full refund of the PPI and the interest applied to the PPI plus 8% statutory interest on top.
I would check to see if there are any additional reasons the policy could have been mis-sold like pre existing medical conditions, self employed etc etc.
If you check out the links and threads you will see all the reasons that you may have a valid claim on to get a full refund. You may have to go through the Financial Ombudsmand Service (Ombudsman) or even Court it all depends on the date the PPI was started.
Barclays PPI
back because she insisted that she was forced in it or else they would not give the loan (there is no evident on that)
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Re: Barclays PPI
