me vs aqua-should i claim? have they shot themselves in the foot

[alibobsy]

OK just started my ppi claiming, was just going to do the loans as the amounts are bigger, but got a letter about an old aqua card (now settled with a dca as an f&f).

They are basically admitting that any cards activated between jan 05 and may 08 did not have certain exclusions and limitations brought to the customers attention when the policy was sold. They are trying to wriggle out of refunds by then saying its all right we have amended the terms and will apply the new terms if a claim is made.

 

Thanks to "discussions" over time with the dca I have statements and the application/agreement for this. The application does not have insurance on it and I don't believe I would have taken it unless I had to, to get the card (as they refer to activation calls I reckon I had the card alrady so wouldn't want it), I also was in public sector work with a long term medical condition non of which will have been considered I am sure.

 

Think I might root out the documents and work out the amounts on a spreadsheet to see if its worth a go. Any thoughts?

 

Ali x

 

BTW letter is from bank of scotland

[citizenB]

Hi

 

The attached CI sheet works and should be used for credit cards or running credit accounts.

 

You'll find that this and the other one you mentioned are very close. In the other one most people enter their APR inthe interest box. That calculator is not designed to convert APR to actual interest rate so you tend to get a higher answer than would actually be the case if it were analysed.

 

With the spreadsheet attached it converts an APR to an actual interest rate and then compounds based on that.

 

 

Regards

 

ims

 

[ATTACH]29397[/ATTACH]

 

Have taken this from another thread. Yes, go for any PPI that was mis sold.

[ims21]

OK just started my ppi claiming, was just going to do the loans as the amounts are bigger, but got a letter about an old aqua card (now settled with a dca as an f&f).

They are basically admitting that any cards activated between jan 05 and may 08 did not have certain exclusions and limitations brought to the customers attention when the policy was sold. They are trying to wriggle out of refunds by then saying its all right we have amended the terms and will apply the new terms if a claim is made.

 

Its quite unbelievable isn't it?

 

If that is what they have said, do they really think that by issuing new T&Cs that they can apply them retrospectively on mis-sold products?

 

The bottom line is it was mis-sold at the point of sale...end of.

 

I'd certainly be going for them.

 

Regards

 

ims

[alibobsy]

Its quite unbelievable isn't it?

 

If that is what they have said, do they really think that by issuing new T&Cs that they can apply them retrospectively on mis-sold products?

 

The bottom line is it was mis-sold at the point of sale...end of.

 

I'd certainly be going for them.

 

Regards

 

ims

 

Thanks ims thats what I thought-guess they are trying to fob people off early. Doing DPA requests on the loans for the PPI so going to use my 40 days to work on the credit cards.

 

Ali x

[ims21]

 

ims

[alibobsy]

Ok well crimbo got a bit in the way of my PPI claims, but finally sent of the initial claim on mine and OH's this week so will update when I hear.

 

Ali x

[joncow75]

Aqua are a doddle to get your money back from. 12 weeks from complaint and it was back on my card. Halifax are in such a mess they seem to be refunding any complaint that comes through anyway!

[alibobsy]

Ok wellno contact from them until today when on my account they sent a cheque in my name. Its about what I expected (lower than the figures I had but not by a massive amount), no breakdown so unsure what is what.

I haven't signed anything with them or agreed anything over the phone so I think I will write and thank them for partial settlement, but before I can accept it as full settlement and drop my complaint I will require a full breakdown of what the payment is for and how it was calculated. But it looks like its one account down.

Still awaiting payment/contact for OH from aqua.

Does this mean Halifax are just rolling over?

 

Ali x

[alibobsy]

Ok got a breakdown in the post, and although they haven't given the full calcs they have explannied how it was done. Basically the refund of premiums paid, interest added to the account because of PPI and they said they restructured the account as though no PPI/interest and paid 8% simple interest on any periods in credit (I believe this is how the FOS have said to do it?).

 

Still waiting on OH's claim.

 

ali x

[alibobsy]

Ok looked in more depth at the figures they gave and I believe the interest to be too low and they have not refunded any charges caused by the PPI which i had asked them to look at (the FOS guidence AND their letter states that they should consider any charges-I believe when they do the reconstruction-as per FOS and aqua's own correspondance, any month where the balance drops below the limit means that an over limit charge would not be correct in the month. This then has a knock on effect accross the other months/charges). Anyway I wrote to them to dispute this and am still awaiting a reply.

 

Today OH rec an offer that looks like the calcs have been done the same way so i will be querying that as well. However and this is the big one it says according to their records OH's financial affairs are being dealt with by an insolvancy practictioner!!!! He is not nor ever has been bankcrupt or in an IVA and we are not in the process of this either. I assume they have just made a mistake, but its a bit worrying. Can you guys reassure us that you can't be made bankcrupt without some kind of notification first?

 

Perhaps they should have said this is with a DCA? It is and is fully sold so the refund cannot be passed to them and I will raise this in my letter. Just a bit worrying what they have put.

 

Ali x