Thread: Barclay Card PPI Claim

Hello jamcol,

Originally Posted by jamcol

I have sent SAR to barclaycard and got a copy of all the statements. I am now preparing a PPI claim based on this information.

I have read through a lot of the threads on the PPI forum and the guide to making a claim. Please can someone confirm if I put in the full cost of the PPI every month and the APR on the card at the time?

Thanks

Yes you should claim back the monthly PPI cost plus the contractual interest on the PPI costs when you make your claim.

There are various spreadsheets. See if any of these help.

Interest calculation spreadsheets

aa

Originally Posted by jamcol

I have now completed the spreadsheet and in the process of preparing the letters. The guide to reclaiming charges is very useful but it seems aimed at back charges and not missold PPI. Is there a guide for this or are the standard letters and documents all the same?

Regards

Jamcol

This is a copy of my letter I do not believe there is a standard PPI template letter.

Use what you can from this and fill in your own information.

I am now convinced that I was mis-sold these PPI policies for the following 7 reasons:

1. Responsibilities When Underwriting a Policy of Insurance: On each occasion, when the details of a loan were discussed Your sales advisors failed to check my personal circumstances at the time of the sale, which they are under obligation to do when underwriting a Policy of Insurance. If they had done so, they would have realised that the PPI policies were useless to me. At no time was any attempt made to ascertain if the product provided was fit for purpose, suitable for my needs or if indeed it was required at all.

2. Alternative Insurance Cover: Your sales advisors in each case failed to ask me if I had any alternative arrangements for insurance cover. My employer has a generous illness package which would cover a period of sickness as follows: 6 months full pay followed by 6 months half pay. I would also be entitled to a generous redundancy package and a substantial payment would be made in the event of my death in service (more than suffice to clear the balance of the loan).


3.Failure to Supply Important Information with Regard to Significant Policy Exclusions: I was most definitely not informed that the PPI policies could contain certain exclusions which could affect me and my ability to claim on the policies if I should need to. Additionally I was never told that Pre Existing Medical Conditions could invalidate my policy and I was never asked if I had any Pre Existing Medical Conditions. Indeed your Loan Customer Duty of Care Checklist and the Loanguard Certificate of Insurance to which the Customer Duty of Care Checklist refers (forwarded under cover of Reference N) contain no reference to any Pre Existing Medical Conditions or includes any questions to me on the subject. I am in fact in receipt of a 40% War Disablement Pension from Her Majesty’s Government (HMG) since 1991. One element of this pension includes back injury which I now know is an exclusion in your PPI Policies. I also believe that I would also be excluded on at least one other existing condition.

4. Widespread PPI Mis-Selling: I cancelled the PPI policy on xxxAccountNo xxx on 7 Jan 2007 after becoming aware of the widespread mis-selling of PPI by some financial institutions, following recent media coverage and recent OFT and FSA investigations regarding the mis-selling of PPI. I believe this is borne out by Point 3 above. I am also aware that the question of PPI cover is the subject of an ongoing inquiry by the Competition Commissioner.

5. Wholly Inappropriate PPI Selling Bonuses: I understand that some employees are paid higher bonuses if they get prospective creditors to take out PPI with loans. How can the best interests of the customer possibly be met, if there is a clear conflict of interest between your responsibilities to me, and the drive of your employees to sell Payment Protection Insurance whether it is suitable or not in order to receive bonuses?

6. PPI Loan Interest payments miscalculated: Since I cancelled the policy, I have actually received a smaller reduction in the PPI loan interest payments than the figure stated on the agreement. The explanatory letter sent to me has, I believe, confirmed that I have paid for single premium PPI policies on each loan taken with your establishment.

7. True Nature of Single Premium PPI Not Explained: No explanation was forthcoming from any advisor on any occasion on the full extent of single premium PPI policies or the fact that they would offer little or no refund if the loan was settled early or if the insurance was cancelled. The statements you have forwarded on accounts xxx and xxx, show no element of any refund of PPI or PPI interest when the accounts were settled on refinancing. There was also no explanation that the cost of the PPI premium would be added to the total cost of credit and interest added for the full term of the agreement. I believe this practice is unlawful.

I now believe that the single premium PPI policies attached to the loan accounts were both extremely unfair and totally unreasonable and offered me very little, if any protection value whatsoever. I am therefore requesting a full refund of all costs including all single PPI premiums that have been paid, the interest added to these premiums and the payments, that I have paid to date.

I have read on various threads that the company need to keep records for 6 years. The copy statments I got only go back to May 2004. The card was opened in 2001 so they should at least provide info back to 2003. Is this correct? I seem to have the standard covering letter everyone else gets stating 'This information we have enclosed relating to this account is all that we hold'.

They have to keep records for 6 years after the last transaction on the loan/card/mortgage etc.

I would not accept their letter stating they only keep records back 6 years and yes they should have provided information back to Apr/May 2003.

Push them on this and if they still insist 2004 bang in a complaint to the Information Commissioners Office....links here....

For the Information Commissioners office. (this is an option if the DSAR is not complied with)
http://www.ico.gov.uk/upload/documen...ess_rights.pdf

Information Commissioner's Office - Information Commissioners Office

http://www.ico.gov.uk/upload/documen...lain_final.pdf

Complaints - Information Commissioners Office

aa