DJ1971 v's Barclaycard "credit card battle"

[dj1971]

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.

 

Would appreciate some help

[alanalana]

me v's Barclayloan (1 2) dj1971

 

 

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

[dj1971]

barclayloan is re the loan account. This 1 is re 1 of 2 credit card accounts. So should I keep under 1 thread?

[alanalana]

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

[dj1971]

Happy for you to change title as you see fit aa.

[alanalana]

Sorted if you have any other preference let me know but I think the new titles do it;)

 

aa

[dj1971]

Got any advice on above questions aa?

[alanalana]

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

[dj1971]

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!

[alanalana]

see if you can get the attention of Pompeyfaith he is well up on spreadsheets and interest etc.

 

aa

[dj1971]

Just an update on this one.

 

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%.

[alanalana]

Just an update on this one.

 

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

[dj1971]

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?

[alanalana]

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

[dj1971]

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

[alanalana]

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

[dj1971]

OH opted to go FOS route. Complaint submitted 24/08. Will continue to update this thread as things progress.

[TINK660]

Dj,

 

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

[TINK660]

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

[dj1971]

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

[alanalana]

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

 

Looking positive for you I insisted on the full breakdown of the way the figures were worked out and received copies of all documentation.

 

Let's hope you get a nice result.

 

aa

[dj1971]

Just as a side note.

 

I also complained to FOS about Barclaycards failure to supply a copy of the original agreement under a formal CCA request we submitted back in April on this same card account. FOS have phoned me today to say BArclaycard have coughed up and the agreement is in the post.

 

Things really are starting to look up, but we could not have done it without the support of this site and people like yourself AA. Really appreciate your help and guidance.

[dj1971]

Have received a letter from ombudsman stating that barclaycard have agreed to settle the claim on second credit card. Have signed acceptance form and will update once we receive final settlement. Is going to be a great new year.

[alanalana]

Have received a letter from ombudsman stating that barclaycard have agreed to settle the claim on second credit card. Have signed acceptance form and will update once we receive final settlement. Is going to be a great new year.

 

Looking good

[dj1971]

Just a short update on this one.

 

OH was on the phone with barclaycard about an unrelated matter and happened to mention about their agreement to refund PPi on both cards and when she might expect payment. Agreements were signed 17th November & 22nd December.

 

They stated that they received 1 signed acceptance form on 31st July for both claims and would be writing to her within 2 weeks.

 

I knew that OH had signed two separate acceptance forms so phoned the FOS for advice. They confirmed there are two separate acceptance forms and these were sent to barclaycard on 17th November & 22nd December. Also agreed that barclaycard are taking too long to settle these claims and will be contacting barclaycard to hurry them up.

 

Moral of the story, don't believe a word barclaycard say. If you believe you have a valid claim pursue with absolute determination and if they do not respond to your complaint within the prescribed 8 weeks, forward to ombudsman and let them deal with it, in my experience barclaycard will give in.

 

Will update when payment is received