Can anyone simplify this for me :( **RESOLVED**

[archrayt]

Hi , and apologies up front if this is understandable to most people , but its certainly not to me.. this is part of a letter i have received from BARCLAYS

 

whilst reveiwing your complaint , we have been UNABLE to trace the documentary evidence to support the process , based on this we have UPHELD your complaint.....

 

to acheive this it will be neccisary to repay the original ppi premium used to purchase the policy , and the interest charged on that premium , these payments will be made to the outstanding depts ( which i assume is my balance of the loan)

 

we will then refund the monthly ppi repayments paid amounting to £609.44 and credit your current account with 8% interest on these monthly ppi repayments totalling £107.67

 

the thing i dont get with the last part is , i dont have an active current acount with barclays , it was closed and passed to a DC, so will i be able to ask for the money i paid to the PPI as a personal cheque? or will they offset it to an old current account i no longer have access to?

 

then the totals they calculate done make sense to me?

 

 

we (barclays) have calculated the balance of the outstanding dept as follows

 

ppi premium repaid to dept £465.95

ppi interest charged to oustanding dept £+258.06

monthly ppi repayments refunded to current account £-609.44

reduced outstanding dept by £114.57

 

i dont understand the + and - in these totals?

 

can anyone please make this simple , and advise me if i can claim back the monthly repayments on the ppi i made , can i request them as a PERSONAL CHEQUE as i dont want it going to my old , inaacessable bank account

[cerberusalert]

Moved to the PPI forum.

[firstship]

archrayt..Hi.regret they will Offset the amount to the debt with Barclays Bank even though you do not have access to the account.This is well documented in OFT guidelines,so no cheque I am afraid,the upside it will reduce the size of the debt.

 

Are you still paying a DCA for the debt?

 

FS

[archrayt]

well after a letter and a phone call , and various things the FOS advised me to say , i actually beat barclays and woke up to a cheque of £717.11p , it shows , that everyone should never give up , the fundemental different was in my claim , that i had actully paid the money to the illegally mis sold policy , that and a few harsh words in my letter

[cerberusalert]

Well done. Basically the PPI aspect is totally separate to the original agreement & should be treated as such. Although a bank may be able to offset between a/cs they can't 'help themselves' to any PPI refund as the PPI is usually underwritten by a separate insurance company.

[firstship]

Archrayt,well done I am pleased for you.FS

[sir_gilmour]

Hi

Welcome to The Consumer Action Group.

 

 

I am just letting you know that as you haven't had any replies to your post yet, it might be better if you post your message again in an appropriate sub-forum. You will get lots of help there.

 

Also take some time to read around the forum and get used to the layout. It is a big forum and takes a lot of getting used to.

 

 

Once you start to find your way, you will soon realise that it is fairly easy to get round and to get the help you need.

 

It can be bit confusing at first.