Credit card PPI

[Torexxx]

Sorry if I appear stupid in this field, But I am, Could someone please tell me what is" unfair" charges on Bank accounts, and credit card accounts with a bank, Also is there a time limit that these charges can be clawed back from the banks.

I also noticed on an old credit card statement my wife had with Halifax from the 1990s to when it was defaulted and sold to a DCA in 2006 It was then paid off in 2007 but because they accepted 2 thirds of the money it was logged on her credit file as " partly satisfied" The old credit card statement dated 22 sept 2001 shows she was being charged for Card protection plan £8.00 per month and credit insurance of 67p per £100 as well . She had taken this card out in 1988 and had it till the default in 2002 after I had to close my small business due to Cancer a few years earlier and we got into a lot of difficulties with creditors

 

Sorry for all the questions but other may be in the same position and answers to these questions may help them aswell as myself

 

Basically to sum it up What are UNFAIR charges

[birchave0]

that's a bit of a hard one

unfair charges are amounts charged for both bank accounts and credit cards, usually for not paying on time, going over your credit limit, returned d/ds, etc. in turn especially on credit cards, these charges then incur contractual interest.

The argument is that these charges are too high, and have no reflection on the true cost of admin to carry out, i.e, send out a letter, or return a payment.

 

PPI before 2004 (I think) was not covered by the FOS but by other set up who I can't remember!!! therefore you won't have the backing of the FOS for a complaint. (if I'm wrong here I'm sure someone will correct me).

 

If you have account numbers you can send SAR but they will only send out info for the last 6 years if accounts are no longer active. If you already have statements for credit cards showing PPI and charges you could approach the bank in question and request these back.

 

If you have active accounts that go back to the 80s/90s I think they will have the info but whether they will give it to you is another matter.

[Torexxx]

Hi All

 

Thanks, " Birchave0" for the very informative reply it answered every question I had, I hope it also answers some other peoples aswell.

I think I will SAR Halifax, for my wife and if I can find out who now runs the old Associates Credit card company I think I will SAR them too about an account of mine that was sold on to Cabot. I believe they are no longer, and some other bank now owns what was the Associates company, If any one has an address for them please post it on here

 

Thanks

 

Torexxx

[birchave0]

good luck

SAR is a good way to start