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saraht74

Help with Cap 1 PPI claim.

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hi there my partner has a cap 1 card , which he does use now and again but he has been paying PPI on it , he has asked cap 1 twice now to cancel it, but they havent . this has been going on since 04 , is there a claim form you can print off to claim these PPI back ?

many thanks

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Hello and Welcome, saraht74.

 

I'll use your 1st post to start a new thread in the PPI Forum, have a look at the sticky threads in that Forum, everything you need to claim back your PPI is there.

 

I'll send you a Private Message with a 'link' to this thread.

 

Regards.

 

Scott.


 
 

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Sarah,

 

I believe there is a claim form on the Financial Ombudsman's Website: www.financial-ombudsman.org.uk

 

Personally, I just sent a letter saying I believe the PPI is mis-sold. Please cancel and refund all premiums paid to date.

 

Does your partner still have the letter he sent requesting to cancel the PPI?

 

Does he have all his statements going back to when the PPI was first added? If not he will need to send a SAR. Please read the sticky on the PPI homepage entitled " full sar for ppi "

 

DJ

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hi all, he told them to cancel it over the phone not by letter, we have kept all the statements dating back to when they first started to take it . i will take a look at the link you have provided , thanks dj

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Sarah,

 

Tell your partner, try to avoid talking to these people on the phone and keep everything in writing from now on. Telephone calls can be denied, better in black and white.

 

Now as you already have all your statements going back to when they first started charging PPI, you can start working out how much you can claim.

 

This is tedious, but start with the first statement and make a note of each monthly charge for PPI to date.

 

Then you add 8% simple interest to each monthly charge, from the date of charge until the date of settlement. As you cannot know the date they will settle at this time, I would use 1st September for now.

 

There is an argument for claiming compound interest on these monthly charges as well at the rate cap1 were charging on your card. I am all for claiming everything you can get, however in a recent claim I had against barclays they would not pay compound interest. I referred it back to the FOS to check the figures and according to them, compound interest is not payable on PPI charges as the previous months PPI charge is included in the minimum payment you must make the following month.

 

Now I have no idea whether this is true or not. Would have made little difference to my claim so I let it go.

 

Entirely up to you whether you claim it or not.

 

Good luck

 

DJ

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hi thanks for the advice i have totted it all up and have asked cap1 for a claim form , i will let you know how we get on

 

many thanks

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hi i forgot to ask what about the interest that cap1 charge every month to you, can you claim that back aswell , he has also got barclay card ppi which he is going to claim for.

sarah x

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you cannot reclaim their interest, but you can reclaim the interest they have charged you on your ppi repayments at their purchase rate each month you paid ppi to the date of your claim

if it goes to the court stage you can add an extra 8% each month as above calc's too.

 

DJ - i am puzzled by your comments on compound int at the OC's PCM int rate

THe FOS has recently updated their PPI claim calcs method and this clearly states that you are entitled to restitution at the oc's rate,

 

see slick32's sig.

 

dx


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s would collapse overnight.

 

 

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Dx, I had a claim against barclaycard which went to the FOS, then bc caved in and agreed to settle. When I received payment, they had not added compound interest, so I contacted the FOS adjucitator by email and asked him to look at the calculations.

 

After much emailing back and forth, he finally explained that compound interest is not charged on PPI as the minimum payment we make each month includes the previous months charge for PPI.

 

DJ

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yes but that then causes other purchases your have previously made to have additional interest charged on them because they were not paid off.

 

stupid fos, a ppi reclaim is supposed to put you back into a financial positon as if you never had it, that is truly a crass judgement against their own guideline on ppi repayment.

 

sorry OP, don't mean to hi-jack the thread.

 

dx


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s would collapse overnight.

 

 

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hi my boyfreind recieved a reply from cap1 regarding PPI they sent a letter saying they were looking into it but has now had a letter stating they are willing to give back £147.68 which is made up of £129.07 premiums £6.24 associated interest plus 8% ineterest of £12.07 . they say they have checked the account and confirmed that my b/f called them to cancel PPI on 16th july 2008 but they did not cancel it.they also state that they have completed a comprehensive review and cant find no eveidence of PPI being misold to him.it does say that my b/f agreed to PPI purchase on 23rd april 2004.

thing is my b/f says he cancelled this PPI twice , once at our old address and the other where we are now , theyve already admitted they made a mistake by not canceling the first time and then they carried on taking it again.

they want him to sign a complaints settlement form to say he will accept the £147 and take no further action.

he doesnt really want to accept £147 considering they have been taking PPI off him for 6 yrs so we would like to know what do we do next .

thanks

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Sarah,

 

Definitely do not sign the agreement or offer cap1 have made. Sounds like they are offering you a mickey mouse settlement in the hope you will be grateful to get something and just accept.

 

Does your bf have the statements for his card, particularly after 16th July 2008 when they claim to have cancelled the PPI?

 

DJ

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yep typical rubbish from cap1

don't accept.

 

dx


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s would collapse overnight.

 

 

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hi yes he does still have the statements from 16th july 2008 , it doesnt state though on there that they have cancelled PPI as from then, "APPARENTLY theyve only just realised it" ?

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Hi,

Capital 1 hate to air their dirty washing in public and will (normally)capitulate if court papers are issued.

 

I would send them a final Letter Before Action and if they still refuse, take them to court


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hiya how do i send them a final ? is it on here

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Sarah,

 

Do the statements post the date Cap1 claim to have cancelled the PPI have a monthly charge on them for PPI?

 

DJ

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