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Egg Creditcard & Barclaycard PPi & Charges


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Hi Everyone,

 

I'm not sure where my original post have gone to, so a brief background.

 

I have been trying to obtain information from Barclaycard for an old Barclaycard, opened 2001 and closed in 2005. In addition to this, I am also doing the same for an old Egg card taken out in Oct 2004 and defaulted in 2006 and I'm still paying off. My mission started in March.

 

I have sent four SAR requests, initially advising that there was no information relating to me on their records.

 

Second attempt included a single statement for the Barclaycard and the details of my repayment plan for the EGG card, I was sent a form that highlighted the dates during which I had PPI on the Barclaycard, but nothing for the EGG card. Also the response stated that as I was requesting information purely for PPI they were returning my £10 and if ther were wrong write back. I had sent a full SAR request, so wrote back advising this.

 

Again, no information was sent as they had no records of me - despite me including their print out of my PPI history (no premiums, just start and end date customer number etc.

 

At this point I phoned and got passed from pillar to post, eventually I was passed to a helpful lady in the EGG collections team who agreed to me faxing the info and she said that she would pass it through their internal post.

 

Today I have received the EGG information, 4 £20 charges and a years premiums of £30ish pm - I cancelled it after the first year. Much to my joy, the EGG application that they sent to me did state "N" against payment protection insurance, so this should be a pretty easy win :wink:. It's scarey to see though that at the time I had a salary of £13k, net income of under £900 and they instantly gaem me a £4,000 limit, I'm not sure that that is entirely what I would class as responsible lending!!!

 

I'm still waiting for the Barclaycard information, which I know will contain a lot more charges (3x£20 on the one statement I still have, althought the card limit was only £300 so I dont expect the PPI to be much. I will also be trying to reclaim the Barclaycard FAP premiums as I was bullied into this.

 

Any advice before I proceed?

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Please can somebody kindly confirm which of the following I should claim back, as I dont want to over claim, but also dont want to fail to request what I may be entitled too.

 

1) Premiums / Charges (I appreciate that the two should be submitted as seperate claims).

2) The interest charged in relation to these items (which I presume would be at the percentage rate quoted on the statements, for the time that the account was accruing interest).

3) The profit that that Egg / Barclaycard could have charge at the lending rate, I have see that people have claimed back 24.5% compound interest from Barclaycard successfully.

4) A one off payment of 8% statutory interest, that would be awarded by the courts.

 

Many thanks, Dan

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Hi

 

the PPI claim and the charges claim are separate things.

 

For the charges claim you should complete this spreadsheet.

 

CISheet v101.xls

 

Set the rate of interest to at least the rate they were charging you on the account. If you want to go for a higher rate of interest in restitution then you can but bear in mind that you may well need to fight for all of this in court.

 

This is the approach that people have adopted with Barclaycard where they claim 24.9%.

 

Be aware that although Barclaycard tend to cough up before getting into court, that is by no means the modus operandi of all lenders so you need to be prepared to go to court if the need arises.

 

To read more about interest in restitution have a look at No.4 in my signature.

 

For the PPI claim have you got all of the statements yet or are you working from a list of payments and nothing more?

 

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Hi Ims,

 

Many thanks for the information, I believe that they are statements as although they are printed out on plain paper, they do quote the interest rates for each month and have my address at the time on them.

 

Would you say that as Barclaycard now own the EGG account it would be worth using the 22.9% (this was the rate up until the last month, when the rate rose) rate up to todays date, on the basis that they will have profited on the transactions for both the PPI and charges?

 

Also can I use the same spreadsheet template for the two individual claims as presumably the calculations are the same.

 

Many thanks for all of your kind advice.

 

Dan

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Hi

 

For the charges claim (spreadsheet in a previous post) you can use the rate they were charging you or a higher rate if you want to go for full restitution. It is your call really as to what you wish to claim. Using their rate will get back the interest they charged you, using a higher rate would relieve them of any unjust profits they made on the charges that they took from you.

 

Have a read of No.4 in my signature for more on this.

 

For the PPI claim, it depends whether you intend to sue in court or go the regulatory method. If suing in court you can use the same spreadsheet for the calculation of your claim. Bear in mind that if you sue for PPI then the onus of proof of mis-selling will be on you as the claimant. (civil burden on the balance of probability).

 

If opting for the regulatory route then this spreadsheet will be the one to use

 

FosRunningPPI v102.xls

 

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Thanks IMS,

 

I know I'm probably being stupid, but I would just like to clarify one point.

 

As the account is in default, and I currently pay of £20 per month with an outstanding balance of £1700, the interest was frozen in 2006. Do this mean that I can only claim interest to that point, or can I claim the interest upto today?

 

I understand that they would make a profit on anything they have charged that they shouldn't have. But as I still owe them money, they have never had the money from me to make a profit. I imagine that other people have been in a similar position to me.

 

Many thanks,

 

Dan

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For the charges claim you would claim the interest right up to date.

 

Although they physically haven't had the money their corporate figures would show money owed to them and they would lend out on that basis.

 

For a regulatory award on the PPI you would stop the contractual interest at the point they stopped charging you interest.

 

For a court award then the same method as for the charges would be used.

 

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Thanks Ims, I think I will take the court award option and see how it goes as if nothing else it will give a higher starting point to negotiate from if neccessary.

 

I have come across one oddity, in that I had two pages reflecting the November statement, and having added up the transactions to put in the spreadsheet there is a £611.40 discrepancy.

 

The first page ends on the 22/11/04 and the second page starts on the 23/11/04, so it seems strange that a whole page was taken up for two parts of days. Although the statements are split up into monthly chuncks, with each having my address and a date and the opening and closing balances, they do not have the running total after each transaction.

 

I tried phoning Barclaycard to ask if there was a missing page, but they have suggested that I write to the SAR team again as they can only view transactions back to 2005. Any ideas? If they can't provide details of the transactions, but can provided details of everything either side, can I apply for it to be written off and interest applied???

 

I will have a read up on what exactly I need to do to take the Court approach, but is there much difference between the options?

 

Many thanks,

 

Dan

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  • 5 months later...

I have just received a letter from Barclaycard about the PPI on my Egg card. They have offered to settle on the following basis: -

 

Refund of payments made by me: £278.01

Refund of interest charged on CRP premiums £12.31

8% simple interest per annum £174.19

Total £464.51

 

As I still owe them money, I will only receive the 8% simple interest, but it is a step in the right direction.

 

I am still waiting for them to reply to my complaint about 3 x £20 charges that were applied to the account and also the list or transactions / print outs that they have provided me is missing £611.40 worth of transactions - based on their opening and closing figures.

 

I am also still waiting for SAR information from Barclaycard about a card that I had between 2001 & 2005. The latest on this is that they have written to me to advise that they will send the information to my local branch and that I can collect it from there - that was 5 weeks ago, so tomorrow will be another day of chasing.

 

Although it is only a small victory it all helps in the fight to become debt free smile.png

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  • 1 month later...

I now have a copy of the Barclaycard application, which states the following in relation to PPI, i@m not sure if it is good or bad, but there are definitely no tick boxes.

 

"8 Barclaycard Card Protection

 

Yes, I would like to accept one year of cover at a premium of £10, therefore, please send me a full policy registration pack. I authorise Barclaycard Card Protection to charge the premium indicated above to my Barclaycard account now and subsequent payments when due at the prevailing rate until cancelled in writing by me. The premiums shown include Insurance Premium Tax in accordance with Government legislation. A specimen policy is available on request"

 

"10 Payment Protection Plan

 

Yes, I want my Barclaycard account(s) to be covered against unemployment, accident, sickness and death. Subject to my application for a Barclaycard being accepted, I authorise you to debit my Barclaycard(s) account(s) to which this application relates with the monthly premiums due until further notice from me to the contrary, or termination of the plan."

 

Is this enough of a basis for a complaint, or do I need further justification?

 

Many thanks,

 

Dan

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  • 2 weeks later...

Hi Everyone,

 

I have had a sort of win with Barclaycard for my PPI. They have offered me £255.51, made up of Premiums £123.02, interest on premiums £12.37 and 8% simple interest £120.51.

 

The card was taken out in March 2000 and I have only got statements from Sept 2001 (finally they gave in on the SAR info). They say that they that they have taken the PPI from the statement records that they hold from 2001 until March 2002 when the policy was cancelled. Apparently they then work on the basis of reducing the premiums down on a steady reduction basis until the balance reaches zero on inception of the account, based on the earliest statement information.

 

The balance on the first statement was £1783.75 on the 11 Sept 2001 and the PPI was £11.85.

 

The premiums that I have are as follows: -

 

Sept 01 £11.85

Oct 01 £11.85

Nov 01 £9.09

Dec 01 £9.44

Jan 02 £8.02

Feb 01 £5.01

Mar 01 £10.99

 

I have tried to calculate the premiums based on the balance of the September statement (£1783.75) being divided by the number of months that the account was live prior to the statements (18) and the multiplying it by the number of months that the policy had been running. E.g. month three premium = £1783.75 /18 *3 = £1.97

 

Using that calculation, my premiums would have been: -

 

Apr 00 £0.65

May 00 £1.32

Jun 00 £1.97

Jul 00 £2.63

Aug 00 £3.29

Sep 00 £3.95

Oct 00 £4.60

Nov 00 £5.27

Dec 00 £5.92

Jan 01 £6.58

Feb 01 £7.24

Mar 01 £7.90

Apr 01 £8.56

May 01 £9.22

Jun 01 £9.87

Jul 01 £10.53

Aug 01 £11.19

Sept 01 £11.85 (Actual)

Oct 01 £11.85 (Actual)

Nov 01 £9.09 (Actual)

Dec 01 £9.44 (Actual)

Jan 02 £8.02 (Actual)

Feb 02 £5.01 (Actual)

Mar 02 £10.99 (Actual)

 

Totalling £166.97

 

Firstly, do my calculations make sense to everyone? Then, if I feel that the balance would have been maxed most of the time, can I argue that it should have been higher? I might possibly have my old bank statements that would have paid the monthly amounts, if so can I use this to calculate the balance for each month? And finally, how would I apply the interest, would it be the interest rate on each statement for that months combined PPI premiums e.g. 1.456%? E.g. Month 3 would be (Premium1 + 2 +3) x interest at 1.456 so 0.65+1.32+1.97 = £3.95 x .01456 = 0.06. If this is the case, would I apply interest up until the PPI was cancelled in March 2002, or when the account was closed in 2005? When would the statutory interest be paid from 2005, or the date of each of the transactions?

 

Sorry about all of the questions and thanks for all your help in advance.

 

Dan

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Barclays have now written back to explain their calculations, basically stating what the definition is of a premium, when they pay statutory interest and when they pay 8% interest, but not the breakdown of premiums, I sense this could be a long issue! Anyone else had a similar experience?

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Well the PPI team have advised that they only have statement data back to January 2001 - interesting as about a month ago I was provided will full statements back to September 2001, which was apprently all of the information that they held!

 

To add insult to injury, they have advised me that they cannot provide me with a breakdown of the premiums due to Data Protection and that I would need to SAR them for the information! Brilliant!!!

 

I have contacted the Executive Office who could see my issue and are investigating it, I have been told to expect a call back later today :).

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  • 3 weeks later...

Well it turns out that Barclay's don't hold any statement information for the period between January 01 and September 01, they hold microfiche from September 01 onwards, all very interesting.

 

What I find really interesting is that they have provided me with the breakdown of actual PPI premiums between January and Sept 01. On the same spreadsheet there is the account balance, card limit, interest applied and interest rate.

 

At this point I requested the full transaction history (for four months during my account had exceeded the card limit so I imagine that there are charges applied to the account). I was advised that they do not have the copy statements and that their PPI Calculator is not designed to pick up this information!

 

Am I the only person really impressed by the fact that Barclaycard have developed a PPI Calculator that is able to pick up PPI information from a system comprising of "non-existent" microfiche?????

 

Any ideas?

 

As a little note of caution to those not asking for a breakdown of the PPI settlement offer, for 9 of the months in my offer they have used a 0% interest rate, even though they have also stated that the interest applied for each of those months!!!!!

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  • 2 weeks later...

I have received clarification from Barclays that they only refund interest at the contractual rate up until the date of the final premium having been cancelled and they say it's too difficult to differentiate the interest between that point and you clearing the balance. To me this is only £17 and as I have received an extra £300 for their inability to provide information in a timely manner, so I don't wish to continue fighting it, but this might make a bigger difference to people with larger claims!

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  • 2 weeks later...

I have sent off the court forms and received an acknowledgement from the Court and also a single letter from Barclaycard advising that the same individual will be dealing with both cases. There was also a copy of their acknowledement to the Court stating that they will be defending in both cases. I guess I just sit back and wait for the defence to be issued.

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  • 2 weeks later...

Hi, does anybody know how long BC usually take to receive a copy of the defense? So far there has been no sign of one the deadline is the 29th July, so I imagine that they are waiting for the last possible minute to stall things?

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I have now received an offer for all of the charges with the 8% standard interest. I guess this is because as all of my charges are over 6 years old they couldn't make an offer for just the charges less than 6 years old lol.

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