Thread: Barclays PPI.......FOS or Court.

Hello.

I have a dilemma that i would welcome your opinions on. The history is quite lengthy, and complex. I will for now, try to keep to the facts.
I can reveal any details required except my identity.

I had been self employed, and with Barclays Bank since May 1990. I had a relatively successful business that was doing well until my new business partner and his wife, ( My bookkeeper ) decide to spend £60k of my money. After that i decided to release my employees, and go back to being a "one man band". Not literally.

In 2003 i purchased a franchise that turned out to be a waste of money.

During this time i took out 4 loans with Bs, the last one being for £17,500.
Each loan was consolidated into the next, and a partial refund of PPI was returned to the account.

The franchise was a waste of money and after spending £30k i had had enough. A lack of income led to all sorts of problems and eventually i defaulted on the loan.

Time progressed and Bs took a charge over my property, took me to court For £24k including interest and costs, and we agreed at court that i would pay the balance at £600 PCM. Stupid now i know. Needless to say, the letters of forced sale started to come through, and the worry eventually forced me into sub prime re mortgage, where i gave them a lump sum of £15k. I guess i must of paid £7k at £600 PCM because it left a balance of £2k which has since been written off.

Time moves on and the economy downturns, and i end up Bankrupt, and as of today, maybe 4 weeks from repossession.

Heres where i need your opinions.

The 4 loans included over £5k worth of useless PPI. Over £7k in todays terms with interest.

I was forced to remortgage at an extra £250PCM above what i was paying.

The Bankruptcy was for £15k, i had £5k and offered the balance over time which was rejected.

So what do you think ?

Personally i think Barclays have majorly contributed to my current financial mess.









.

Hello DG,

first advice is to read some of the information in the stickies.

PPI and self employed IMO the PPI was mis-sold and you should claim back the premiums paid and the interest on them. You have two options Court, or fos and if that is not successful then Court. You cannot go to Court and if you lose then go to the FOS.

Here are a few links for you to read through to make you decision.
Homework first then a plan of action then go for it.

PPI - Some Notes for Claimants..

For claims before 2005 and the FSA ruling from which campaign
How to tell if you’ve been mis-sold PPI

Quick check: were you mis-sold? - How to tell if you’ve been mis-sold PPI

Another useful site to help you reclaim missold PPI UPDATED 16 JUN 08
Reclaim your PPI premiums - payment protection insurance | This is Money

This is a little snippet from the above link....

Can I reclaim on any PPI policy?
Your claim for compensation is dependent on when you took the insurance. PPI sales only came under the jurisdiction of the FSA on 14 January 2005. Any sales made before then are not covered by the latest rules.
However, it may still be worth complaining to your lender if you feel you have been mis-sold. If you bought before January 2005 it is likely that they will have been covered by a previous regime of rules. This means that the Financial Ombudsman Service will be able to consider these complaints. If you took PPI after January 2005, your claim is subject to the latest rules.

THIS LINK IS IMPORTANT TO YOU ON RECLAIMING IT IS FROM 2001 FROM THE FOS
loan payment protection insurance and a quote from this link...

When determining whether a policy is suitable, a seller – whether a lender or an agent for the insurer – must obviously take into consideration any information the prospective policyholder volunteers. However, we do not consider the seller’s duty is limited simply to recording what the borrower discloses. It is only by asking questions that the seller can properly determine suitability. These questions cannot cover every aspect of a borrower’s personal position and should not be expected to do so. To paraphrase the ABI Statement, only those matters deemed to be relevant by the insurer should be the subject of questions.

Links that may help with your claim for Mis-sold PPI
Financial Ombudsman Service

http://www.financial-ombudsman.org.u...-insurance.pdf

If you decide you have a valid claim after reading the above info then you should start by sending a SAR.....template letter here...

Data Protection Act 1998 - Subject access request

You should make it clear you expect to receive all data on yourself as a data subject.

True copies of Consumer Credit Agreements including the terms and conditions applicable at the point of sale.

Copies of all the statements on the accounts.

Specifically ask for a copy of the needs and wants/customer duty of care questionnaire this should have been completed by Barclays staff at the point of sale to ensure all the correct questions were asked to ensure the PPI was suitable to you as a customer.

Copies of all other data in whatever format the bank store it on paper, electronic, cd, floppy disk, microfiche, tape or transcripts of tapes or notes taken during telephone conversations, emails, faxes, letter in fact everything.

There is a statutory fee to pay £10.00 and under the data protection act 1998 they have 40 days plus 2 allowed for postage to give you the information.

Then you take it from there. Best to have all of the information if you go the court route as they (all banks) can be very cunning when it comes to providing documents in court that you think they do not have.

Hope this gets you rolling

aa

Originally Posted by alan alana

Hello DG,

Hello Alan. Thank you for your reply.

first advice is to read some of the information in the stickies.

I have been a CAG member for over 2 years, I have read, re read, read again, and so on.

I have changed my user name.

PPI and self employed IMO the PPI was mis-sold and you should claim back the premiums paid and the interest on them. You have two options Court, or fos and if that is not successful then Court. You cannot go to Court and if you lose then go to the FOS.

What worries me about court, is that, even if you win, they don't admit liability.

Here are a few links for you to read through to make you decision.
Homework first then a plan of action then go for it.

PPI - Some Notes for Claimants..

For claims before 2005 and the FSA ruling from which campaign
How to tell if you’ve been mis-sold PPI

Quick check: were you mis-sold? - How to tell if you’ve been mis-sold PPI

Another useful site to help you reclaim mis sold PPI UPDATED 16 JUN 08
Reclaim your PPI premiums - payment protection insurance | This is Money

This is a little snippet from the above link....



THIS LINK IS IMPORTANT TO YOU ON RECLAIMING IT IS FROM 2001 FROM THE FOS
loan payment protection insurance and a quote from this link...



Links that may help with your claim for Mis-sold PPI
Financial Ombudsman Service

http://www.financial-ombudsman.org.u...-insurance.pdf

If you decide you have a valid claim after reading the above info then you should start by sending a SAR.....template letter here...

Data Protection Act 1998 - Subject access request

You should make it clear you expect to receive all data on yourself as a data subject.

True copies of Consumer Credit Agreements including the terms and conditions applicable at the point of sale.

Copies of all the statements on the accounts.

Specifically ask for a copy of the needs and wants/customer duty of care questionnaire this should have been completed by Barclays staff at the point of sale to ensure all the correct questions were asked to ensure the PPI was suitable to you as a customer.

Copies of all other data in whatever format the bank store it on paper, electronic, cd, floppy disk, microfiche, tape or transcripts of tapes or notes taken during telephone conversations, emails, faxes, letter in fact everything.

Thanks again. I have done all of the above, there is no doubt i have been 100% miss sold.


There is a statutory fee to pay £10.00 and under the data protection act 1998 they have 40 days plus 2 allowed for postage to give you the information.

Paid that. Got all the info

Then you take it from there. Best to have all of the information if you go the court route as they (all banks) can be very cunning when it comes to providing documents in court that you think they do not have.

Hope this gets you rolling

Hey Man, im ready to kick their butt. I have all the info i need. Just need some guidance from now.

Update on circumstances.

Sent SAR. Got loads of NOTHING.

Sent request for repayment. Got 5 go away letters.

Asked many times for proof of correct selling. Got no proof.

Have asked many times for true copy of agreement. Received only copies of offer.

Heres my ACE.

On the 19th of September. I received a loan offer for £ 17,500 with no PPI on it. I duly signed and returned.

3 days later, i was told that the wrong paperwork had been sent, and i must sign the new offer with PPI.

Never once, over 4 loans, was PPI discussed, or requested.

Never will a clearer case of miss selling be more evident.

I know i have a good case. I just want to nail them for what they have done to me, and my now EX family.

Thanks again.









.

Update on circumstances.

Sent Subject access request. Got loads of NOTHING.

Sent request for repayment. Got 5 go away letters.

Asked many times for proof of correct selling. Got no proof.

Have asked many times for true copy of agreement. Received only copies of offer.

Heres my ACE.

On the 19th of September. I received a loan offer for £ 17,500 with no PPI on it. I duly signed and returned.

3 days later, i was told that the wrong paperwork had been sent, and i must sign the new offer with PPI.

Never once, over 4 loans, was PPI discussed, or requested.

Never will a clearer case of miss selling be more evident.

I know i have a good case. I just want to nail the Bastards for what they have done to me, and my now EX family.

Thanks again.

You firstly having sent a SAR with the fee send this....
Data Protection Act - Non-Compliance - Template Letters

You should also complain to the Information Commissioners Office (It worked for me after a long time)

Complaints - Information Commissioners Office

Links that may help with your claim for Mis-sold PPI
Financial Ombudsman Service

http://www.financial-ombudsman.org.u...-insurance.pdf

Use the fos link you can phone them and they will even phone you back to save costs. Get a complaint reference number they will start to fill in the complaint form and send it to you, You will receive normally within 2 days depending upon the time you called them. Alternatively you can fill in the complaint form online.

Best to phone IMO and supply copies of everything you have in way of all Agreements, letters etc.

there is no cost to you other than postage and recorded delivery is advised and special delivery is recommended by me. Royal mail lost 3 out of 9 recorded delivery items not the best thing to happen in PPI claims.

Special will cost more but delivery is guaranteed next day other than saturday posting.


You can get a result but it will take time in my own case 12 months but over £10k recovered.

aa

I believe i have everything i need to proceed with my claim. I believe that things could get dirty from here on in. I wanted the trusted opinions of people here.

I dont know if i can fight this without help. I have been through to much of late.

Thank You.

If you have all the relevant information to proceed with your claim and your thread title is fos or Court. I would suggest the FOS but the decision is yours. If you go the FOS route all the information is available in earlier posts to enable you to start a claim.

Good luck

aa