Barclaycard PPI claim following SAR

[Paraman1]

I have a current Barclaycard which was taken out in April 1995 and included PPI. I cancelled the PPI in January 2010 and now preparing to make a claim.

Following SAR to Barclaycard I have now received 6 years of statements which show that I paid over £1200 in PPI but do not have any more info on the previous 11 years. Any advice on what I should do next

Thank you

[dx100uk]

avg out the ppi payments from the statements you have

 

and use that figure from month 2 of the card

This fourth spreadsheet is useful in calculating a regulatory based compound interest award for PPI on a Revolving Credit Account. Not all statements are required for this sheet because it will work out the compound interest on the PPI payments you do know about. It will not work out the additional 8% interest, to do that you will need spreadsheet three above AND all of your statements.

 

FosCISheet v101.xls

 

dont forget the fos cq too

 

 

 

dx

[Paraman1]

Thank you for your help.

 

From the statements I have (38 months) I have worked out an average of £31.57 per month PPI,

With regard to the spreadsheet, do I now list this figure for each month from month 2 (May 1995) to the date I cancelled PPI (Jan 2010), and what interest rate should I enter?.

 

Thanks

[dx100uk]

use the avg from month 2 until the figure of the first real statement.

then use the real figures.

 

yes list every month

 

use their latest int rate or an avg in rate

 

they'll soon pickup if its wrong.

 

dx

[Paraman1]

Thanks for the help.

Can I just clarify that the interest rate is the APR (19.9%) not monthly percentage rate.

[dx100uk]

http://www.stoozing.com/mon2yr.htm

 

whichever the greater

 

dx

[Paraman1]

Great.

I have now completed the spreadsheet (from May 95) using avg of known figures and filled in real figures for the rest. I cant believe that the total comes out at over 32K at 19.9% APR.

I will send this off with FOS cq and covering letter and see what happens.

Thanks for the help

[dx100uk]

yes its amazing what they have made out of punters

 

dx

[Paraman1]

I have just received an offer from Barclays and would be grateful for your input and advice.

 

Brief history

• Barclaycard Visa since 1995 (from SAR I discovered that the card number changed in April 2000, although still continued as Visa)
  
• PPI cancelled in 2010
  
• Statements for 6 years
  
• With help from this forum I calculated 6 years of known PPI and used the monthly average for unknown period on compound interest calculation spreadsheet
  
• Total calculation on spreadsheet = £20k (not £32k I first calculated)
  
• Spreadsheet, FOS questionnaire and covering letter sent to Barclays
  

In the letter Barclays have stated the following -

“We are not required to retain statements information for more than 6 years and the value of payments made since 2005 have been taken directly from statements we do hold. If the sale occurred prior to 2005, where statement records are available, the value of payments has been taken directly from them. However if statement records have not been retained, we will use details from the first available statement on our records and work back to the point at which the policy was sold. This is based on the assumption that your PPI charges and balance would have reduced at a steady rate to zero. If the first two statements available for your account show a value of zero then we have assumed that the balance on your account was also zero for the period dating back to when the policy was sold. We would be happy to recalculate the offer amount if you are able to provide statement information for some or all of that period, prior to 2005, where this has not been retained”

 

They go on to say -

Please accept this letter as our final response to your complaint. Please be aware that you have the right to refer your complaint to FOS” etc etc.

 

The refund has been worked out as follows

• Refund of payments made by you for PPI cover = £2482
  
• Refund of interest charged on PPI premiums = £2558
  
• 8% simple interest per annum = £2250
  

It appears that they have calculated the refund based on 6 years of statements and of course I cannot be sure of the PPI payments I made prior to this

 

My question is would you accept the offer or do you think there is any mileage to be gained by pursuing this further.

 

Thanks for any advice.

[ims21]

Ask them to give you the full and detailed breakdown of their calculations.

[Paraman1]

Thank you.

[dx100uk]

so from birth to the first statement they are saying you did not use the card.....

 

yea ok...ruddy fleecers!!

 

point that fact out!

 

its not logically you would get a card AND NOT USE IT.

 

your method is actually as per the FOS website examples.

 

they are also 'offering' for you to take this as their final response [clever play on words]

 

YOU ARE NOT!!

 

dx

[anney63]

Did you manage to get a breakdown??

[Paraman1]

Sorry about the late response but just got internet back after 2 weeks without (typical Virgin).

 

the short answer is No

 

I wrote to Barclays as advised and stated that their offer fell a long way short of the compound interest calculations

I supplied in spreadsheet form which is the regulatory method of calculation using FOS guidelines.

 

I asked them to review the calculations or supply me with a full and detailed breakdown of their calculations.

 

I then received a letter stating that the offer was correct and explaining how they go about working out this type of claim

but they did not supply me with any breakdown of figures.

 

Interestingly they stated that they are not obliged to keep statements for more than 6 years but went on to say

“in your case we have statement information from 2001 and have used an average of payments to calculate the value of payments made prior to 2001”

 

This annoyed me because following a SAR in July, I only received statements from 2006.

 

I then wrote back stating that statements from 2001 had obviously been withheld from me and requested these were forwarded to me along

with a full and detailed breakdown of calculations.

 

This letter was passed on to the SAR team who have now sent me the same information I received in July (a basic summary of the accounts I held with Barclays).

 

So I still have not received a breakdown of calculations or statements from 2001.

 

I will now be demanding this information again in a strongly worded letter

and if I still do not get the information I require,

I may have to consider the FOS route.

[dx100uk]

ICO first for non compliance

 

dx

[Paraman1]

Thanks dx100uk. Sorry to be naive but what is ICO?

[dx100uk]

http://www.ico.gov.uk/

[anney63]

I have sent a strongly worded letter and I have also copied and pasted the paragraph below from the FSA website. I sent a copy to David Chan & Philip McHugh by mail it needs more people to complain about thier calculations. I'm sure they haven't got a clue. When I have requested the interest rate they use they cannot give me an answer. One of thier staff phoned me and said I don't get involved in calculations . Then why are you phoning Me !!!! My letter detailed inlaymens terms what they should be doing whether it works or not is another matter. If enough people complain surely they will revisit. This is now the 3rd time they have had to recalculate and still no details. The trouble is they take so long its been over a month now and the details I got were in regard to a letter written on 30th October which still is not in my hands. That was in response to my letter dated 3rd . I now fax first and then send recorded so they get it twice and copies to the top guys. Hopefully may get somewhere or its off to FOS

• The cancellation of the PPI policy (if it is still in place).
  
• The reconstruction of the credit-card account, to work out what the current balance would have been (where the account remains open) – or what the closing balance would have been (where the account has been cleared or closed) – if the consumer had made the same monthly payments but without PPI. This should be calculated by deducting the PPI premiums and the interest and charges that resulted from those premiums (including those arising because the ongoing monthly balance on the credit-card account was higher than it would have been, if the consumer had made the same payments to an account without PPI).
  
• A statement showing the resulting balance on the credit-card account – to be sent to the customer along with details of how it was calculated.
  
• If the reconstruction produces a credit balance for any period, the payment of interest (normally at the rate of 8% simple per year) on the credit balances for the period that the account was in credit. This element of the compensation may be subject to income tax. Our note is compensation taxable? provides more information about the tax treatment of this part of the compensation.
  
• The consideration of a payment for distress and inconvenience – for example, where the financial business rejected a complaint that it knew (or should have known) that the ombudsman service would uphold.
  
• 
  

[Paraman1]

It seems that they cannot give straight answers to the simplest of requests. May I ask anney63 if you have had an offer, and if so is it a long way from your calculations.

 

Thanks for the IOC link dx100uk. I may write again and use the non compliance as a lever in getting them to re calculate or send me the calculations. If not its IOC and then perhaps FOS.

[anney63]

:roll:Had 2 offers the second had interest figure less than the first and I gave them all the deatails as to why they need to send me new calculation but they just didn't read the letter. They are way off. Cannot get an interest rate use from them It needs more complaints I think people are accepting without realising they are being ripped off. Sent another letter yesterday by fax and recorded delivery.

[anney63]

Chased up letter has been sent from Directors office WOW .

 

Apparently they are now sending more information dating back to 2001 and state that thier figure is correct.

 

Until I get the letter I can't comment.

 

I did say if you have this information why didnt you send it when requested with my SAR no comment.

 

I honestly believe that the ICO need to really clamp down on Barclaycard.

 

It is obvious they are witholding information.

 

Will post when I receive letter it is in my friends hands so hopefully will get it tomorrow.

[Paraman1]

Unbelievable!!!!.

 

I’m still waiting for a reply from my last letter strongly requesting them to send me exactly the same info i.e detailed breakdown of calculations and statements from 2001.

 

I have cited non compliance following SAR and threatened ICO.

 

I will now follow your example Anney 63 and post to directors and ICO.

 

I will be interested to find out the response you receive.

[anney63]

As soon as its in my hands I will post up with a copy of my spread sheet. I know they said something about reducing down to 1992 whatever that means all good fun keeps the brain going !!!

[intend]

Might it be a good idea for anney to start own thread and leave this for paraman??

 

anneys thread is here

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?350191-Barclaycard-SAR

 

posts moved

[Paraman1]

Update on progress

Still being fobbed off.

 

Every time I request statements from 2001 (the ones they state that they based their calculations on) and a detailed breakdown of calculations, they send me a copy of the final response letter first issued on 11th Oct (3rd one now)

 

On 10th Nov I gave them 7 days to comply with my requests and threatened ICO

 

On 30th Nov I sent ICO all the info including copies of correspondence, but due to a backlog of cases ICO say that I probably wont be allocated a case officer for another month.

 

So I am now considering court action and have been following a similar post at http://www.consumeractiongroup.co.uk/forum/showthread.php?350191-Barclaycard-SAR

and have followed the links from Slick132 regarding court action which are most helpful.

 

I am not unfamiliar with court processes as I recently took legal action against a non paying tenant in which I represented myself in court, but before I follow this course of action I would be grateful of any help and advice from members of this forum.

 

Firstly I know that I will have to send Barclays a letter before action which I will prepare and post on the forum, but my main concern is the N1 form. This at the moment is not a claim for money but a way of getting Barclays to disclose the information I requested. I do not want to complicate things by claiming for damage or distress but I would obviously claim court costs

 

So my questions at the moment are

 

1) What do I put down as Defendants name

2) What address do I use (ie Barclays HQ, SAR team or PPI claims dept)

3) What value do I state on N1 form (if any).

 

Thanks in advance for any advice