Won vs BCard/Egg PPI

[badgolfer]

Hi All

 

Just had a letter from Barclaycard/Egg and they have upheld my complaint. This was for PPI that was added to my account when i was self employed (and also not in good health) won't bore you with all the details but i basically sent a generic complaint form from the web.

 

They acknowledged reciept. After not hearing anything again for approx 50 days i sent a letter chasing it up and politely asking if i should go through the FOS. Got a letter of apology within 4 days requesting more time (which i granted)

 

 

2 weeks later got an offer letter together with an acceptance form.

 

 

God only knows why i ever thought about using a no win no fee company for this, if I had it would of cost me £2000+ and it was a sinch even though i had no paperwork and i am pretty fick! The offer is for the refund of all my payments plus 'simple interest' the interest works out at twice the amount of the payment refund.

 

I know that compound interest would calculate to more but finding myself in financial difficulty at the moment i have wimped out.

 

 

The only down side is that they have suspended a totally differant credit card account which is a bit of a bumma and they have also demanded that they clear the balance of the previous egg card account from the awarded funds (but i would've done that anyway)

 

 

One last point, i have given them 14 days to pay the funds directly in to my account, they have earnt enough interest off me by now. I informed them that if it isn't done by then i will pursue compound interest for the whole amount from day 1.

 

Sorry if i've waffled, but hopefully the ease of which i have won will spur people on to get back what they are entitled to.

 

All the best, Bad G

Edited September 12, 2012 by citizenB
formatted for easier reading

[BankFodder]

Well done.

 

However, they are still making money out of it because you have paid XX% on your credit car, had to pay them premiums and they are only repaying you at 8%.

They are laughing all the way to the bank.

They are treating you unfairly.

[badgolfer]

Thanks, and yes, i have been a little weak on the %interest. But you know what - when you're struggling to feed the kids at the end of each month and have been for 2 years it is appealing to accept and be a little more comfortable. The pay off will mean that i'll have money in the bank and will also have increase my monthly disposable income by £180 per month as i will no longer require to pay the DD i have and will cancel. To be fair I didn't have any original paperwork and this claim could have been more difficult.

I have informed them however that if they do not pay within my timescale i will pursue compound interest.

[citizenB]

Well done, as long as you are content with the payout - I guess that is all that matters.

 

It is sad that these companies are aware that people are struggling and will not pursue them for the full amount owed.

 

 

If you owe them, they will hound you to the ends of the earth.

 

If they owe you, they will try every trick in the book not to refund.

[badgolfer]

Thanks CB, in better times i would have held out. That said, I have worked out that using the money sensibly i can reduce my monthly outgoings considerably making things far less difficult than they are at present. I have simply got so fed up constantly worrying about how i am going to make ends meet and really struggling the last few days of every month.