Queries On Reclaiming PPI - Credit Cards

[Trudy B]

I am helping my parents with their PPI mis-selling and also credit card charges. All cards are paid to date, no arrears, no defaults etc.

 

I have a few quick queries, could someone clarify for me or possibly point me to the right threads or library that already hold the info? Idiot formats needed if possible!

 

1) One credit card company came back and said sorry no, you took the card / PPI policy out more than 6 years ago so you are outside your time limit to complain so you can’t reclaim it, tough luck

 

That doesn’t sound right to me – I can’t find anything specific on the threads although have been trawling for hours .… I may have been looking in the wrong places!

 

We have only just discovered that a) they had PPI and b) due to medial histories the PPI is useless to them.

 

How do we respond?

 

2) For another credit card I have a shed load of credit card statements. It shows all the PPI premiums being debited. Years of them.

 

How do I calculate the interest that should be claimed back? Do I use the same sort of spreadsheets as for the Bank Charges spreadsheet and charge 8% from debit date until now or is there something else I should be doing? The interest rates on the credit card statements are much higher than 8%.

 

3) some threads I have read mentioned “contractual interest”. What is “contractual interest” ?

 

Many thanks to all in advance.

 

T

[dx100uk]

if you look at the top of this forum in the stickies [red]

there is a ppi calculator & guidence notes too.

 

the 6yrs is debateable

 

contractural interest is the rate they charged you at the time of the payment [on the contract ]

 

dx

[Trudy B]

Hi dx100uk

 

Thanks for coming back to me.

 

The sticky thread seems to be about single premium PPI, the credit cards are monthly PPI premiums and a different amount debited each month

 

On the card where they have said no cos it is over 6 years old do we just give up then? Are there no arguements that can be applied? What's the debate then?

 

Thanks

 

T

[alanalana]

hello TrudyB,

 

Hello

I am helping my parents with their PPI mis-selling and also credit card charges. All cards are paid to date, no arrears, no defaults etc.

 

I have a few quick queries, could someone clarify for me or possibly point me to the right threads or library that already hold the info? Idiot formats needed if possible!

 

1) One credit card company came back and said sorry no, you took the card / PPI policy out more than 6 years ago so you are outside your time limit to complain so you can’t reclaim it, tough luck (Can you post up details on this company and the letter you received (remove all personal information first ie names, addresses, account numbers. sort codes, signatures etc but leave in the figures if you can).

That doesn’t sound right to me – I can’t find anything specific on the threads although have been trawling for hours .… I may have been looking in the wrong places!

 

We have only just discovered that a) they had PPI and b) due to medial histories the PPI is useless to them. ( if you have evidence of pre existing medical conditions the your parents have clearly been mis-sold the PPI)

How do we respond? (If you do not have all the paperwork (data) on the accounts you will need to get it via a Subject Access Request, the fee is a statutory £10.00 and they should send all the data applicable to your parents as data subjects) You must ensure that either they sign all the correspondence you are helping them with or they sign a letter authorising you to act on their behalf)

2) For another credit card I have a shed load of credit card statements. It shows all the PPI premiums being debited. Years of them. (valuable stuff keep them safe the calculations can come later using spreadsheets)

 

How do I calculate the interest that should be claimed back? Do I use the same sort of spreadsheets as for the Bank Charges spreadsheet and charge 8% from debit date until now or is there something else I should be doing? The interest rates on the credit card statements are much higher than 8%. ( I know a pompeyfaith who may be able to help you there are several spreadsheets available here is a link).....

 

Interest calculation spreadsheets

3) some threads I have read mentioned “contractual interest”. What is “contractual interest” ? ( contractual interest is what the banks charge you and it should appear on any Consumer Credit Agreement the APR figure and it varies widely from bank to rip off bank)

Many thanks to all in advance.

 

Have a look in the stickies

 

PPI - Some Notes for Claimants..

 

links

 

masses of info in the links link

 

I Hope all of the above helps you make a start

 

aa

[Trudy B]

Hello

 

I’m back – just received the letters from my parents (bless them! Not the speediest with anything!)

 

The one trying to time bar the PPI complaint is a final decision letter

 

“Due to the significant passage of time that has passed since your PPI policy was sold and the fact that you have not raise any concerns before now you are out of time in which to make a complaint and I am unable to investigate your concerns”

The scandal of the mis-selling of useless PPI policies has only recently been exposed by CAG and the media and that's why it is only now being looked into!

 

Any pointers please?????

 

We can go straight to the FOS as the 8 weeks has passed plus the letter is a "final decision letter" but would prefer to repsond to the lender also.

 

Many thanks

 

T

[Trudy B]

Oh, BTW the card is with your friends RBS ... I am currently reading other posts that show they have settled cases where the PPI is far older than just 6 years!

 

Any wordings you can suggest?

 

T

[pawnbrokers]

trudy - im sure that yu will find that where ppi has been mis sold that the refund is from the beginning of when the ppi was taken. certainly with halifax they have "put the client back into a position as though the ppi had never existed" That means that if it is as above then the claim is for the PPI + Debited interest+ 8% interest on top. Thats a lot of money and one of the main reason that the card companies are so hard to crack- Im sure someone from the site will confirm this and guide you accordingly.pb

dont give up

[pompeyfaith]

not got much time right now but i will come back this evening and see where i can help you there is another spready u can use 4 CC's PF

[Trudy B]

Thank you Pawnbrokers and Pompeyfaith

 

Absolutely - there is now way I am giving up or being fobbed off!

 

Spreadsheet would be fab becasue I am sure any offers of redress made would be on a "lets see what we can get away with" basis and any wording for a letter to re RBS would be appreciated.

 

I am also going to push to get their money back in checque form too as none of the accounts are in any arrears, none of this "we'll credit your card" rubbish. They deserve cold hard cash!

 

Many thanks

 

T

[Trudy B]

teeny bump re suggested replies to RBS ...... I'd like to get the letter out this weekend if poss

 

Spreadsheet for future calcs once figures recieved would also be appreciated when you have a spare moment