Barclays PPI - from 1990s

[shaniannie]

It's giving 8% simple interest on the credit balance of the current account (which is almost always in credit at the end of the month), but this interest bears no relation to the £0.80 ppi paid?

It's not keeping a running total of the ppi payments?

 

I'm really confused, can someone explain where I'm going wrong? I've read interest tutorials over and over and I can't figure this one out...

 

Here's an example of the first 5 months I have a statement for:

[shaniannie]

Using this thread as a running commentary or diary, I suppose

 

Still waiting for SAR to show as delivered... However, as it was posted Friday I shall count "Day 1" as tomorrow - Tuesday. 40 days is Sunday 8th of March, so they've got until the postman arrives Monday 9th

 

Not sure if hubby signed for paperless statements (online banking only) recently, but there's no statements for the last 2 years or so for the bank account, so I went online to print them off, and I got greeted with:

 

65009 - Sorry - there is a technical problem with retrieving the Statements for this account. Please call us on 0845 600 2323 (from overseas dial +44 2476 842063) and quote code 65009. Lines are open every day 7am - 11pm (UK time). To maintain a quality service, we may monitor or record phone calls

 

Lovely! So I don't know if this is a genuine online statements problem - or because he's called them re: the PPI. Annoying! I've just changed it back to paper statements now though... wonder when they changed that

 

Been working on compiling the data I already have into some sort of chronological order, to find out what I'm missing re: the loans. Some good news, some bad news.

-----------------------------------------------------------------------------------------------

 

Loan 1

 

Don't have: No agreement, no total loan amount, no APR, no loan duration

Have: Statements showing 6 payments between April-October 1997 for £82.41, with loan paid off 6/10/1997 by Loan 2 final amount £317.69 - no refund on bank statements

Conclusion: Probably no PPI, not enough evidence

-----------------------------------------------------------------------------------------------]

 

Loan 2

 

Don't have: some statements for some months showing payments made, final settlement letter

Have: Customer Copy of Credit Agreement (printed + signed by Account Manager at bank but no hubby's signature).

APR 17.9%

Cash Loan: £4500

Total Charge for Credit: £1255.32

Total Amount Payable: £5755.32

Monthly Repayment: £159.87

Number of Repayments: 36

Premium Loan: £662.21

Total Charge for Credit: £184.51

Total Amount payable: £846.72

Monthly Repayment: £23.52

 

Total Monthly Repayment: £183.39

 

Loan taken out 3/10/97 total 21 x monthly payments made from 3/11/97 to 5/7/99

6/7/99 Loan settled £2470.46 (by Loan 3) shown on bank statement

16/07/99 Refund £119.31 (assuming this is PPI refund?)

 

Conclusion:Think I have enough evidence for this loan, the only part I'm not sure if I've got right is how much PPI from Loan 2 carries on to Loan 3. £119.31 seems to be a low refund of PPI seeing as the original premium was £662.21 and the loan was repaid early after 21 (of 36) repayments. By my own calculations there was £244.10 (= 14.71% of final settlement - 119.31 refund) PPI from Loan 2 rolled over into Loan 3.

 

---------------------------------------------------------------------------------------

 

Loan 3

 

Don't have: Loan Agreement ( ) couple missing statements, final settlement letter

Have: Loan Protection Policy Certificate, most bank statements, including the one with loan entering bank acc, amount gone to Loan 2, first monthly payment, last monthly payment, final payment in full to settle loan.

 

Statements show that £3000 was paid into bank acc on 6/7/99.

Assuming PPI covered loan duration, this would be 24 months

Monthly payments were £170.16, first made 6/8/99 last made 6/1/2000, total of 6 repayments.

Loan progression spreadsheet assumes this has an 18.5% APR.

Loan repaid early 31/01/2000 amount £2694.70 (by RBS Loan - sigh, no paperwork at all of this, only partial bank statements, which do show a ref no. not decided if we'll chase it up yet)

4/2/2000 Refund from Loan 3 £201.18 (again assuming PPI refund?)

 

Conclusion: I think I have enough evidence if the sharks don't produce any info.

I have NO idea what proportion of PPI>Loan was here, so I have assumed the same % as in Loan 2 (14.71) = £21.83 per month. As before I calculated the final amount of PPI remaining in Loan 3 from it's own PPI, and the 8.14% of the PPI from Loan 2.

 

 

Attached is my spreadsheet for Loan 2 and Loan 3.

 

If there is anyone still with me after this essay of a post, I thank you for your time and I would be really greatful if someone could take a look over my figures, just in case I've dropped a huge bo****k in my calculations.

 

Next up - loans 4 and 5 with the sharks - although these two are really lacking any concrete evidence bar partial bank statements.

 

edit: already spotted an error on spreadsheet, where I've entered one payment twice... grr!

Loan 2 + Loan 3 edited.xls

Edited February 27, 2012 by shaniannie

[shaniannie]

Right here we go:

 

Loan 4

 

Don't have: A LOT! No paperwork, missing bank statements, including the first and last

Have: Partial bank statements

 

This loan was taken out sometime between 20/4 - 20/10 2002. Hubby seems to think it was for around £9k (although his memory is terrible, at best).

May, June, July, Aug, Sept, Oct 2002 statements are missing.

First evidence I have is of a payment of £250.36 on 25/11/2002. It wasn't the first payment, as usually these are noted as "first payment" on the statements.

What's more annoying is that this particular loan didn't have a loan ref: on the statements, unlike all the others.

The last payment to this loan would have been in June 2002 (I have a statement showing loan paid then refunded 23/7/2002,) which means 8 x payments.

As the June statement is missing it's leaving a big hole - no settlement amount, no idea how much loan 5 was for, no knowing how much of a PPI refund was given (hubby is certain it was included).

 

Conclusion: A lot of I don't know! Unless the sharks play ball, this one might have to be written off sadly

 

----------------------------------------------------------------------------------------------

 

Loan 5

 

Don't have: Loan agreement, first bank statement which would have shown how much the loan was for

Have: Most bank statements, Direct Debit acceptance letter dated 19th July with various ref nos, and showing date and amount of first payment.

 

I *think* the loan was for £4-£4.5k, but I really don't know.

Between 18/08/2003 and 17/08/2004 13 payments of £226.85 were made

23/08/2004 Loan repaid in full £2292.07

27/08/2004 Refund of £115.70 (again assuming PPI refund)

 

Conclusion: Whether or not it's possible to reconstruct that loan with what information I do have, I don't know. It's making my brain hurt thinking about it. Again, I think I need to cross my fingers that we get some info from the SAR.

 

---------------------------------------------------------------------------------------

 

 

 

So, yeah.

 

Loans 2 and 3 look promising, as does the Overdraft PPI (I think), even if Sharklays don't play ball.

 

I tend to be like "a dog with a bone" with things like this. So forgive me if I post waffling about updates or thoughts or discoveries etc

 

My persistance paid off with Tax Credits back in 2006/2007 and I won an overpayment dispute for around £500 and had them pay me compensation. Whilst it took 2/3 years and dozens of letters and others told me to just pay what they said to have it done with, I refused, knowing I was right, and it paid off. Hopefully that same persistence will pay off this time

 

However, without more information Loans 1, 4 and 5 (and, very likely Loans 0 and -1) I don't feel confident to put any type of relevant figures together.

 

So the waiting continues...

[shaniannie]

Hmm why did I bother paying for Royal Mail first class recorded signed for?

 

SAR request was sent Friday, still showing on tracking as "is progressing through our network for delivery" GRRR!

 

They haven't cashed the cheque either, yet.

 

Ah well, tick-tock!

[shaniannie]

Still no cashed cheque - SAR apparently still progressing through the network. Ugh.

 

And, a letter from Barclays today.

 

"You might recall that we sent you a Financial Ombudsman Service Questionnaire on 16/02/2012 but have not as yet received a reply... Please note that unless this is received within the next 10 working days we will be required to progress our investigation based on the information currently held."

 

Erm... no they bloody well didn't send anything... this is the first contact we've had off them!

 

So, do I bother waiting for the SAR for the overdraft ppi? Seeing as the overdraft was hardly ever in debit (always a credit balance in the account, for the 150 statements I have it was in credit 145 of those months!), so I'll just be claiming the monthly charge plus 8% on that, I don't see how having the statements will change anything, regarding the overdraft?

[suga]

I wonder what happens after you recieving barclays letter asking to reply in 10 days . Did you send claim or waited for SAR?

[shaniannie]

My SAR letter to Barclays is still showing as "progressing through the network" for Royal Mail. The cheque is still not cashed. I really don't know what to do regarding that now... it's been posted since the 24th Feb. I might wait another week, then send another letter notifying them they have X days left to comply (maybe attach a copy of the posting receipt?) Or should I be assuming Royal Mail have lost it and be sending it all again with another cheque? I don't want them to cash 2 cheques though...

 

For the overdraft, I sent in the FOS questionnaire, my spreadsheet for premiums paid + 8% interest and a covering letter. That was a week ago and I haven't heard anything.

[chrissy0309]

I also posted a sar letter to Barclays on the 20th february by recorded delivery and on checking this evening mine is showing "progressing through network" as well.

I shall phone Royal Mail in the morning to see if it has been delivered or not. Barclays have not cashed my £10 cheque either.

has anyone else had this problem ? Help please!

[doo]

I sent for SAR to Barclays on 30th January, I know they received it as I also enclosed letter asking for T&Cs which they have supplied - but with this also sent back my £1 cheque. SAR is now just over 40 days, I have telephone them and apparently they will ring back within 2 days, not holding my breath so have followed up with non-compliance letter and as yet they have not cashed my £10 cheque either.

[shaniannie]

Mmm cheque still not cashed and the letter still "progressing through the network" for me too. Not heard a peep from them, not even an acknowledgement.

[WFLOSS]

Hi

They take forever to do SAR's , mine took at least 3 weeks more than 40 days and that was after registering several complaints , writing to them and them making promises they didn't meet.

After 40 days is up ring and register a compaint and make sure you get a complaint reference as they take it a bit more seriously then.

 

Reagrds

W

[WFLOSS]

Hi

Just a thought I rang Barclays life in Dublin and asked about policies , they were very helpful , so perhaps you could try there or SAR them. Sorry haven't kept the number

 

regards

W

[shaniannie]

Hi

They take forever to do SAR's , mine took at least 3 weeks more than 40 days and that was after registering several complaints , writing to them and them making promises they didn't meet.

After 40 days is up ring and register a compaint and make sure you get a complaint reference as they take it a bit more seriously then.

 

Reagrds

W

 

I'll do that They've still got a while to go yet on the SAR. Time's ticking down for the first FOS questionnaire (for the overdraft) sent to them though.

 

When I get a spare min this weekend I'll be putting together a mortgage ppi claim together to send to them - I have all the info, so don't need the SAR for that either.

[dx100uk]

I also posted a sar letter to Barclays on the 20th february by recorded delivery and on checking this evening mine is showing "progressing through network" as well.

I shall phone Royal Mail in the morning to see if it has been delivered or not. Barclays have not cashed my £10 cheque either.

has anyone else had this problem ? Help please!

 

start your own thread please

 

see below

 

dx

[dx100uk]

I'll do that They've still got a while to go yet on the SAR. Time's ticking down for the first FOS questionnaire (for the overdraft) sent to them though.

 

When I get a spare min this weekend I'll be putting together a mortgage ppi claim together to send to them - I have all the info, so don't need the SAR for that either.

i hope you sent an SOC + covering letter too else they'll think you're just a template sender

 

dx

[shaniannie]

i hope you sent an SOC + covering letter too else they'll think you're just a template sender

 

dx

 

Yes I did

[shaniannie]

Getting annoyed now. Don't know if it's Royal Mail, or Barclays playing silly buggers, but the letter is still "progressing" on tracking, and Barclays have not taken the £10 out.

 

I could, in theory, proceed with claiming on 2 loans and mortgage care as I have most of the information needed (a few statements missing). I'll wait a while though, as the OD PPI claim is already in and I don't want to pull too much on my head whilst I'm just starting.

 

Haven't heard anything re: the OD PPI from Barclays. Maybe they thought they could just say "NO" to it, but having sold it to a 17 year old over 20 years ago, who has paperwork to prove it, they can't really argue!

 

[shaniannie]

Right, I'm gonna send a gentle "reminder" letter that the SAR time is ticking, and even though they haven't cashed the £10 cheque, the end date remains Monday 9th April.

 

I'll enclose a copy of the original SAR letter too. Wondering if I should enclose a new cheque? Or authorise them to take £10 from current account?

 

And maybe I should write URGENT in big red letters on the envelope....

[suga]

Im going through the same situation, PO not cashed up even though Sar recieved on 6th March and yesterday I sent reminder .

awaiting their response

[shaniannie]

Now I'm annoyed

 

We've got Barclays response to the overdraft ppi. To recap - it's been £0.80 a month since at least 1991 - which I have paperwork confirming the renewal of the OD with the PPI added. At the time my husband was only 17 so was never eligible for the protection. I provided a copy of this document to Barclays.

 

I believe we've been sent a generic rejection letter. To paraphrase:

 

I have conducted a complete review ofthe sale looking at the following factors:

* Whether you were eligible for the policy taking into account

*your age

In order to reach a decision, the information I have used will have included the following where available, but is not limited to:

*All the information you have provided me with

After taking all the above information into account, I am unable to find any evidence that the PPI policy was mis-sold.

 

 

 

Are they having a laugh? They sold the ppi to a 17 year old yet they think that's not mis-selling?

 

I am aware the FOS will take a ridiculously long time (up to 2 years?). Is it worth writing back asking them how they can justify selling a PPI policy to a 17 year old? Should I do that first then go to FOS, or go to FOS anyway and still send a letter?

 

 

Oh, and still nothing from the SAR... GRR!

[shaniannie]

Just typed up a letter, I would be greatful if someone could take a look at it:

 

Dear Sir/Madam,

Account No: xxxxxxx RefNo: xxxxxxxx

I am writing to you in reply to your letter dated 31 March2012 in which you state that you are unable to uphold the complaint aftercompleting your investigation.

You state that your investigation included a complete reviewof the sale looking at whether I was eligible for the policy taking intoaccount my age. You also state that you used all the information I had providedyou with in your investigation.

I therefore ask you, after I supplied proof (of which I amenclosing a copy, again, for your reference) that this policy was added onto myaccount before I was 18 years old, how you came to your conclusion to notuphold the complaint when you yourself say that you took into account, duringyour investigations, my eligibility for the policy taking into account my age?You also completely failed to acknowledge the fact I had a serious pre-existingmedical condition, and the obvious failures of the bank to make sure the policywas suitable to my needs.

It seems clear to me that all you have done is send ageneric rejection response when you have not looked at my complaint and thefacts at all.

I look forward to your response [and will in the mean timebe passing my complaint on to the FOS]. should I add this bit?

Yours Sincerely

[WFLOSS]

Hi

Take a look at my Barclays thread it might help

http://www.consumeractiongroup.co.uk/forum/showthread.php?327285-Barclays-Masterloan-PPI-***-2-Down-1-To-Go-***&highlight=Masterloan

 

I too received a generic letter from them which basically listed every excuse known to man to turn mine down. I suspected they had just churned something out and I rang and it seemed the real reason they had turned it down was because it predated their memebrship of GISC which amazingly they had not put on the letter.

After a long battle they upheld 2 out of 3 loans but I had to provide employment details for the one before 2001 ( GISC memebrship) and as I had no policy detail on the first they won't budge on that one.

 

Is there a number on the letter to ring? I would give them a ring to query their response , it might be quicker. But if you prefer to write do that instead.

 

Good Luck

 

Regards

W

[shaniannie]

We do have a number to ring as hubby rang them first off a while ago. It's definitely useful to know their "final response" isn't always a final response though lol So thanks for that

 

It just seems silly as we don't have any more to prove, as they added it onto his account before he was 18, and I provided a copy of their signed and dated paperwork to prove that, and even offered to take it into our local branch so they could verify it was an original copy!

 

I'll talk with hubby tonight when he gets home from work. Personally, I feel I can better put it down in writing than hubby might get his point across by speaking to them on the phone

[WFLOSS]

Hi

Glad to be of help.

I found the people dealing with PPI quite helpful on the phone, but if you read my thread I was so mad I wrote to the Chief Exec Bob Diamond so that might have helped my claims along.

regards

W

[efnewman]

Hi, I am not sure if anyone can help with this. My husband was forced by Barclays Bank back in 1992 to take out a Business Loan or be shut down. He had to take out a loan for £7,000 over 7 years. On seeing all this about the PPI etc I had a look at the old paperwork, found the statements from this loan and low and behold this insurance is on the loan. It was a one off payment added on at the start of the loan. We have tried to claim the PPI back and have been turned down 3 times, because they cannot find the Policy. Well we can prove we had the loan, we have the statement with the £7,000 on it, we also have the statements and the first statement showing the insurance payment. The FOS will take it up but they have said it can take 12 months. Not sure now what to do, anyone got any idea's?