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I submitted a claim for refund of mis sold PPI on 1 of my OH's barclaycards. Was before I had found this forum and did not submit a schedule of charges with the claim. Received a confirmation of receipt letter on 27/04/09 and then 4 week letter 26/05/09 saying we have not yet resolved your complaint. I submitted an SAR to Barclays plc asking for all data on everything including both credit cards which they failed to provide and then submitted a complaint to ICO. Have today received 6 years worth of statements on this card and am trying to calculate a schedule of charges. I have 2 questions:
1) Can I charge compound interest, or would that have had to be when I submitted the claim?
2) If I can claim compound interest, which rate do I use? transaction rate/cash rate?
Have been getting help with other claims and the SAR. But as this is a separate claim, thought better to start a separate post.
is this one and the same subject? if so please try and keep it all within a single thread it makes it much easier to keep track. If however it is a totally separate subject then fine.
aa
I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner. ------------------------------------------------
Bank charge successes:
Halifax - Full settlement incl interest.
HSBC - Settlement, goodwill no admission of liability about 75% of claim.
RBS - Settlement, goodwill no admission of liability about 70% of claim.
2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did
PPI Successes
PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.
2 claims settled in full with LV without FOS involvement.
2 claims settled in full with HSBC without FOS involvement
PPI Claims ongoing with:
Cap one Now with the FOS
Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.
LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc
Please do not PM me for advice as it may be sometime before I can respond.
Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.
barclayloan is re the loan account. This 1 is re 1 of 2 credit card accounts. So should I keep under 1 thread?
Better to keep them separate IMO, it keeps things a little more clinical as long as the thead titile are not in conflict.
Probably better to deal with the issues seperately but if you wish I can change the me to something more eyecatching to prevent any mixup of the loan and the card.
Any other name you want to distinguish the loan from the card? it would make it easier for other posters to follow the correct thread?
aa
I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner. ------------------------------------------------
Bank charge successes:
Halifax - Full settlement incl interest.
HSBC - Settlement, goodwill no admission of liability about 75% of claim.
RBS - Settlement, goodwill no admission of liability about 70% of claim.
2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did
PPI Successes
PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.
2 claims settled in full with LV without FOS involvement.
2 claims settled in full with HSBC without FOS involvement
PPI Claims ongoing with:
Cap one Now with the FOS
Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.
LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc
Please do not PM me for advice as it may be sometime before I can respond.
Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.
Sorted if you have any other preference let me know but I think the new titles do it
aa
I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner. ------------------------------------------------
Bank charge successes:
Halifax - Full settlement incl interest.
HSBC - Settlement, goodwill no admission of liability about 75% of claim.
RBS - Settlement, goodwill no admission of liability about 70% of claim.
2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did
PPI Successes
PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.
2 claims settled in full with LV without FOS involvement.
2 claims settled in full with HSBC without FOS involvement
PPI Claims ongoing with:
Cap one Now with the FOS
Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.
LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc
Please do not PM me for advice as it may be sometime before I can respond.
Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.
I submitted a claim for refund of mis sold PPI on 1 of my OH's barclaycards. Was before I had found this forum and did not submit a schedule of charges with the claim. Received a confirmation of receipt letter on 27/04/09 and then 4 week letter 26/05/09 saying we have not yet resolved your complaint. I submitted an Subject access request to barclays plc asking for all data on everything including both credit cards which they failed to provide and then submitted a complaint to Information Commissioners Office. Have today received 6 years worth of statements on this card and am trying to calculate a schedule of charges. I have 2 questions:
1) Can I charge compound interest, or would that have had to be when I submitted the claim?
2) If I can claim compound interest, which rate do I use? transaction rate/cash rate?
Have been getting help with other claims and the Subject access request. But as this is a separate claim, thought better to start a separate post.
Would appreciate some help
I am not totally up to speed with claiming the interest, but you should attempt to claim back any premiums paid and the contractual interest applied to those premiums if you go via the fos you will probably get the statutory interest added on top of this. I believe most refunds will offer repayment of the interest but on the simple interest rate and not the compound interest rate. When it comes to figures and spreadsheets you would be well advised to seek the assistance of Pompeyfaith a cagger with a head for spreadsheets.
Hope this helps. PPI differs on nearly every case so my advice is ask for everything expect nothing and fight every inch of the way until you get a positive result.
aa
I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner. ------------------------------------------------
Bank charge successes:
Halifax - Full settlement incl interest.
HSBC - Settlement, goodwill no admission of liability about 75% of claim.
RBS - Settlement, goodwill no admission of liability about 70% of claim.
2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did
PPI Successes
PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.
2 claims settled in full with LV without FOS involvement.
2 claims settled in full with HSBC without FOS involvement
PPI Claims ongoing with:
Cap one Now with the FOS
Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.
LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc
Please do not PM me for advice as it may be sometime before I can respond.
Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.
Putting in a claim on no2 card for mis sold PPI. Struggling with calculating the compound interest as there is 2 interest rates each month, ie transaction balance interest and cash balance interest. To complicate things further, the interest rate changes about every 12 months. Help!
see if you can get the attention of Pompeyfaith he is well up on spreadsheets and interest etc.
aa
I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner. ------------------------------------------------
Bank charge successes:
Halifax - Full settlement incl interest.
HSBC - Settlement, goodwill no admission of liability about 75% of claim.
RBS - Settlement, goodwill no admission of liability about 70% of claim.
2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did
PPI Successes
PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.
2 claims settled in full with LV without FOS involvement.
2 claims settled in full with HSBC without FOS involvement
PPI Claims ongoing with:
Cap one Now with the FOS
Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.
LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc
Please do not PM me for advice as it may be sometime before I can respond.
Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.
Received an offer from Barclaycard on no1 card today re mis sold PPI. They have investigated fully and "feel there is a lack of supporting evidence that the sale of PPi was carried out in accordance with our standard procedures. As a result I am willing to offer a refund of the PPI premiums you have paid and associated interest on this amount". They go on to say "If your payment protection insurance was taken out over 6 years ago we have calculated the average monthly premium paid over the last 6 years, and multiply this amount by the number of months you had the PPI policy over 6 years". Only problem is they have just added 8% interest on top of total premiums paid. Will write a letter and enclose Breakdown of charges, compound and statutory interest at 8%.
Received an offer from Barclaycard on no1 card today re mis sold PPI. They have investigated fully and "feel there is a lack of supporting evidence that the sale of PPi was carried out in accordance with our standard procedures. As a result I am willing to offer a refund of the PPI premiums you have paid and associated interest on this amount". They go on to say "If your payment protection insurance was taken out over 6 years ago we have calculated the average monthly premium paid over the last 6 years, and multiply this amount by the number of months you had the PPI policy over 6 years". Only problem is they have just added 8% interest on top of total premiums paid. Will write a letter and enclose Breakdown of charges, compound and statutory interest at 8%.
If you are unhappy tell them. You should get the PPI premiums paid over the life of the card not just six years the interest should be contractual and then you should get 8% statutory interest what a court or the fos would undoubtedly add. The 8% stat would not be compound though only simple interest rate as I understand it.
aa
I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner. ------------------------------------------------
Bank charge successes:
Halifax - Full settlement incl interest.
HSBC - Settlement, goodwill no admission of liability about 75% of claim.
RBS - Settlement, goodwill no admission of liability about 70% of claim.
2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did
PPI Successes
PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.
2 claims settled in full with LV without FOS involvement.
2 claims settled in full with HSBC without FOS involvement
PPI Claims ongoing with:
Cap one Now with the FOS
Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.
LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc
Please do not PM me for advice as it may be sometime before I can respond.
Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.
Sent the thanks but not enough letter in response to their offer 10th July but had no response nor heard anything at all. Any suggestions on what to do next, is it time to pass on to the fos?
Sent the thanks but not enough letter in response to their offer 10th July but had no response nor heard anything at all. Any suggestions on what to do next, is it time to pass on to the fos?
The fact they have not responded to a follow up letter in almost a month then.....................
I would suggest yes IMO a complaint to the FOS will cost them £500 for the FOS to investigate your complaint, so that's a bonus. The FOS will have a formula to work out what you are due and even after settlement you should request the full details of how they (barclaycard) arrived at the figures and if you are not totally satisfied you can bang in another complaint to the FOS.
aa
I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner. ------------------------------------------------
Bank charge successes:
Halifax - Full settlement incl interest.
HSBC - Settlement, goodwill no admission of liability about 75% of claim.
RBS - Settlement, goodwill no admission of liability about 70% of claim.
2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did
PPI Successes
PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.
2 claims settled in full with LV without FOS involvement.
2 claims settled in full with HSBC without FOS involvement
PPI Claims ongoing with:
Cap one Now with the FOS
Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.
LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc
Please do not PM me for advice as it may be sometime before I can respond.
Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.
We just received a reply today to our refusal of offer letter. They say "I see from our records that a final response was issued to you on 7th July and this clearly stated the banks position. Whilst I am sorry that you remain dissatisfied, we have nothing further to add."
They then mention we may be able to complaint to fos.
Their original offer admitted mis-selling the PPI on this card and offered premiums paid + 8% flat rate on top, so obviously way short.
Can we accept the original offer as part payment and then take them to court for the remainder? I have had enough of Barclays/Barclaycard and it is time to take action now. FOS are reportedly taking far too long, so I'm in the mood for taking them to court.
We just received a reply today to our refusal of offer letter. They say "I see from our records that a final response was issued to you on 7th July and this clearly stated the banks position. Whilst I am sorry that you remain dissatisfied, we have nothing further to add."
They then mention we may be able to complaint to fos.
Their original offer admitted mis-selling the PPI on this card and offered premiums paid + 8% flat rate on top, so obviously way short.
Can we accept the original offer as part payment and then take them to court for the remainder? I have had enough of Barclays/Barclaycard and it is time to take action now. FOS are reportedly taking far too long, so I'm in the mood for taking them to court.
Appreciate any advice/feedback
Yes you could do this but whether the original offer remains on the table is questionable.
IMO the best option is complain to the FOS let barclaycard know what you have done and take it from there. The FOS route is a long one due to the massive amount of complaints they deal with (HUGE numbers)
I have had two FOS successes and a third complaint going off today.
This is the link to the FOS complaint form you can save it to desktop then complete electronically, print, sign, attach relevent copies of correspondence and send off recorded or special delivery (your choice).
then wait and prompt the FOS. The more information you supply in support of your complain the better my complaints were submitted in August 2008 and settled in December 2008.
aa
I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner. ------------------------------------------------
Bank charge successes:
Halifax - Full settlement incl interest.
HSBC - Settlement, goodwill no admission of liability about 75% of claim.
RBS - Settlement, goodwill no admission of liability about 70% of claim.
2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did
PPI Successes
PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.
2 claims settled in full with LV without FOS involvement.
2 claims settled in full with HSBC without FOS involvement
PPI Claims ongoing with:
Cap one Now with the FOS
Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.
LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc
Please do not PM me for advice as it may be sometime before I can respond.
Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.
In exactly the same position as you Barclaycard (ex Goldfish) have agreed missold PPI insurance and will put OH back in the position he was in before taking out ppi but only gone back 6 years and added 8% to total. Have fortunately kept a lot of statements and send copies of them in to prove account opened in 1998, havent got them all - but most of them. They wont provide any more than 6 years. Told them wouldnt accept their offer as not enough and did my own calculations using the spreadsheets that pompeyfaith advised - total due now over £5000, havent had a reply yet but expect it will be the same as yours. I am tempted to take them to court - it will be the first time for me and a bit worried but fos just take too long to deal with anything. Will keep you posted when I get their reply.
Tink
GE MONEY - DEBENHAMS CARD
Settled in full after prelim
MBNA
Settled after LBA
however mistake made by me on contractual interest so going after the rest now
SETTLED IN FULL JAN 2007
MINT
Offer after prelim rejected
Settled in full after LBA
to go:
Barclays Bus Ac - to mcol
Barclays CC - to mcol
Nat West (over 6 years) no action taken yet
Creation Financial - awaiting statements since Dec
Goldfish - offer after prelim rejected
and some more
Sorry - just a bit to add - I have heard that fos are taking 2 years but we may be lucky as I submitted a claim about American Express at the beginning of July and an adjudicator is dealing with it now so you never know. Maybe fairly straightfoward cases are dealt with quickly. You can always change your mind even if it is with the FOS and take them to court if it is taking too long.
Tink
GE MONEY - DEBENHAMS CARD
Settled in full after prelim
MBNA
Settled after LBA
however mistake made by me on contractual interest so going after the rest now
SETTLED IN FULL JAN 2007
MINT
Offer after prelim rejected
Settled in full after LBA
to go:
Barclays Bus Ac - to mcol
Barclays CC - to mcol
Nat West (over 6 years) no action taken yet
Creation Financial - awaiting statements since Dec
Goldfish - offer after prelim rejected
and some more
Just a quick update.
Received a letter from fos on Friday stating that Barclays have agreed to settle this claim. They have not supplied any figures as to the amount of refund, but enclosed said barclays have agreed to settle the claim in line with their guidelines, a copy of which they enclosed.
I know from reading other posts that FOS guidelines are open to misinterpretation, but upon calling them for advice, have signed the acceptance form with the reassurance that barclays must provide a statement of how refund was calculated and we can go back to FOS if we are unhappy with this.
The letter advises allowing barclays no more than 8 weeks to settle the claim.
Will update as things progress and hopefully a donation will be on it's way soon.
DJ1971 v's Barclaycard "credit card battle"
to Barclays plc asking for all data on everything including both credit cards which they failed to provide and then submitted a complaint to ICO. Have today received 6 years
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Originally Posted by dj1971
