Thread: Fiscalawarness / PPI help

Hello and Welcome, James.

I'll move your thread to the PPI Forum, hopefully you'll get help in there.

Regards.

Scott.

Hello fiscalawareness,

Hi everyone new to the site, have taken my head out of the hole and started to really learn about money, finance the banking system and how to be more wealthy without lending money in the first place.

I have already got money back from Halifax, MBNA and NatWest cards, but took thier initial good will gestures.

I did not know alot back then and now wonder if the actual charges have been taken off the credit card balance and if i am still paying interest on the amounts, this i will check.

The question i have is a complicated one.

if you are charged or have PPI on a credit card and you claim, the interest will be what the credit card company (in this case egg) has charged over years.

So for instance if i wer charged £20 for a bounced dd.

They put that on my card i pay interest of say 1.8% a month for three years , then claim back the amount

They arue but pay a some back. but i have been paying a min maount oer month that should not have been payed.

so they should pay back £20 plus thier interest charged and then my interest i could have gained from the money.

is this not the case and how do i work all that out lol

I also have £400 of ppi on egg, again i dont know what interest to work out plus whqat interest to charge them keeping my money.

any thoughts

James

I do not have answers to all of your initial points and questions, but I do have questions

1. Do you have a copy of the Consumer Credit Agreement which is applicable to your egg card?

2. When did you start the agreement?

I have been dealing with unsecured loans rather than a credit card so I am not as familiar with the CC aspect of PPI claiming.

3. Have you had a good read through the stickies at the top of the forum?

4. Have you looked on the forum for caggers also fighting with egg?

I would suggest you could gain a lot of valuable information by reading up first.

A good start is to send Egg a Subject access request in line with the Data Protection Act 1998 you need to send the required Statutory fee of £10.00 and you can find a template letter here.

Full Subject access request for ppi

The SAR entitles you to all the information Egg hold on you as a data subject and you should remember to ask for every little bit of information in every format they use ie electronic, paper, recorded conversations, microfische, CD, etc

This link below also has a multitude of links which may help.....

links

Here is an extract ref SAR

For legal issues relating to Data Protection check this link...Lots of very useful info in understandable terms.
Data Protection | OUT-LAW.COM

it includes the following and much much more
Negotiating with the Data Subject (This should be important to Banks)

At this stage, it is advisable to negotiate with the data subject. The location information the data subject will have already given will give a clue as to what it is the data subject really wants to have information about. The benefit of the Data Protection Act 1998 is that it allows data controllers to negotiate with data subjects to get the data subject to specify the exact information he or she wishes to receive.

The data controller is entitled to ask for a fee of £10 and two further pieces of information. Firstly, the data controller must satisfy himself that the person making the request is, in fact, the data subject. The use of a subject access request form is advised, since the greatest breach of a data controller's security is for the data controller to satisfy a subject access request made by a person impersonating the data subject. The use of the form goes towards proving that the data controller has adequate identification and verification procedures in place. Secondly, the data controller is entitled to ask the data subject for further information to enable the data controller to locate the information which that person seeks.

When the last of these three pieces of information has been obtained, the forty day period starts to run. It is advisable to put procedures in place to ensure that the receipt of the request and the further information is correctly dated so that an organisation knows how long it has to satisfy the subject access request.

However, if the data subject is adamant that he or she wishes to receive a copy of everything the data controller holds on him or her, then there is very little the data controller can do about this, and a completely exhaustive search of the computerised and manually held data in the organisation will be required. (nice to know what you see in the Act is what you get)

I hope this helps you get started

aa

Hello James.

thanks for that i have sent for the contract details, i have also written to say that i think that the PPI was sold unfiarly under self employment, health and Egg being fined.

its to interest im confused about, why would i claim back 8% when they have be charging me much more. There is nothing to stop you asking for repayment of the contractual interest whatever it was (some caggers have been stung for 70% without realising it however I believe it will be the Court route to get back contractual interest as the fos will as I understand only request the Stat 8%) Plus does the ppi and the interest juts get taken of off the card if i win as i cant be paid back for something put on a credit card an i. You can request a payment by personal cheque to your name if the PPI was mis-sold and you are successful with your claim then you are only getting your own money back and you should be able to state in what form it is repaid. Cheque, Postal Order or payment into another account. I would suggest a Cheque as you do not want these people knowing any details of any other accounts you hold.

I suppose i need the interest and the amounts off my card and backdated.

cheers for your thoughts

James

Hope this helps you

aa