PPI Claim Upheld by FOS - what will happen next?

[Mister M]

Hi,

 

New to this so apologies if this should be posted elsewhere.

 

To set the scene - got a Barclaycard in 1992 and had PPI on the advice of the person in my local branch. Tuens out I could never have claimed so cancelled it in 2002. Still have the credit card so tried to claim back. SAR didn't go back far enough but CCA proved I had it. Barclaycard rejected my claim so I went to FOS. They investigated and found in my favour (hooray!) - they wrote and told me Barclaycard would put me back in the position I would have been in if I hadn't taken out the PPI. Question is - if there are no records how will amounts be worked out by Barclaycard to put me back where I would have been? Has anyone had a similar experience?

[ims21]

Hi

 

To start with we do know that Barclays hold data beyond six years ago but they try and wriggle out of providing it under a SAR request.

 

If they actually don't have the data then it would not be unreasonable fro fos to instruct them to make the best estimate of what would have been the case by extrapolating back from known information.

 

I would wait for the offer letter from Barclaycard and if you wish you can require them to provide a detailed breakdown of how they arrived at their figure. From then on you will have to make a decision as to whether you accept or challenge it.

[Ricardino]

Hi Mister M

Congratulations on your success!

I have a case going through with the FOS and am seriously confused with what they have stated with regard to being put

In the position had the PPI not been sold so am keen to hear what the offer from BC will result in.

 

I have declined the offer made by the bank because it won't repay the over limit fees incurred as a result of the PPI.

 

Perhaps someone can offer more clarity on this point before I start a new thread but according to the FOS they won't address

the issue of charges except by a separate case. Why is this? Does the law of restitution not mean reversion as if the contract never existed

and therefore any associated charges (caused by the PPI premium) being recompensed in order to be put in the position before the mis selling?

 

The bank are adamant they will not pay and I fear the FOS will take this stance as well!

 

Does this mean the only way to get the unfair charges back is to issue proceedings and direct the judge to similar precedents?

 

Sorry to hijack but will keep looking in to see how they offer the refund.

 

As a matter of interest how long did it take the Ombudsman to uphold your complaint, weeks, months or years?

 

Ric

[Mister M]

Thanks for the replies - I'll wait and see what Barclays offer (FOS tell me that it should take about 10 weeks!) and let you all know.

 

In the meantime - to answer Ricardino's question; it took FOS about 6 months to uphold my complaint but since their original letter said it might take them a year to investigate it I was quite pleased it only took them half that time.

[Ricardino]

Thanks Mister M

 

Much appreciated

 

Ric

[dx100uk]

Hi,

 

New to this so apologies if this should be posted elsewhere.

 

To set the scene - got a Barclaycard in 1992 and had PPI on the advice of the person in my local branch. Tuens out I could never have claimed so cancelled it in 2002. Still have the credit card so tried to claim back. SAR didn't go back far enough but CCA proved I had it. Barclaycard rejected my claim so I went to FOS. They investigated and found in my favour (hooray!) - they wrote and told me Barclaycard would put me back in the position I would have been in if I hadn't taken out the PPI. Question is - if there are no records how will amounts be worked out by Barclaycard to put me back where I would have been? Has anyone had a similar experience?

 

if its from 1992 you're in for one HELL of a windfall!!

[dx100uk]

Hi Mister M

Congratulations on your success!

I have a case going through with the FOS and am seriously confused with what they have stated with regard to being put

In the position had the PPI not been sold so am keen to hear what the offer from BC will result in.

 

I have declined the offer made by the bank because it won't repay the over limit fees incurred as a result of the PPI.

 

Perhaps someone can offer more clarity on this point before I start a new thread but according to the FOS they won't address

the issue of charges except by a separate case. Why is this? Does the law of restitution not mean reversion as if the contract never existed

and therefore any associated charges (caused by the PPI premium) being recompensed in order to be put in the position before the mis selling?

 

The bank are adamant they will not pay and I fear the FOS will take this stance as well!

 

Does this mean the only way to get the unfair charges back is to issue proceedings and direct the judge to similar precedents?

 

Sorry to hijack but will keep looking in to see how they offer the refund.

 

As a matter of interest how long did it take the Ombudsman to uphold your complaint, weeks, months or years?

 

Ric

 

ims knows the thread/case , someone won, but if as a result of ppi your got overlimit charges you should get them back too

 

the fosrunning spreadsheet should give you a good idea if yuor have all the statements

 

dx

[Mister M]

if its from 1992 you're in for one HELL of a windfall!!

 

 

It would be good if that happened but I'm not holding my breath - will be surprised if Barclaycard don't try to wiggle out of it...! I'll post on here again when I eventually find out.

[anney63]

I'll be watching I can't get a breakdown from them!!!!

[Mister M]

I'll be watching I can't get a breakdown from them!!!!

 

I've heard that quite a few people have difficulty getting a detailed calculation from them - makes you wonder if they just pluck a number out of the air!

[Mister M]

Hi everyone,

 

To my surprise I got a cheque from Barclaycard this morning for £1058.21 - there was no breakdown of how the amount was made up and no letter in advance making an offer for me to accept.

 

So I've spoken to Barclaycard and got some extra detail:

 

- £414.14 is the PPI

 

- £134.97 is the card rate of interest on the £414.14

 

- £509.10 is the 8% interest on the amounts above.

 

Turns out they have 4 months of PPI data from 1 Jan 2001 to 30 April 2001 - the 4 amounts are £12.87, £12.84, £14.71 and £14.79. So in working out the £414.14 they have assumed the £12.87 built up gradually from £0 when the account 'opened' in Jan 1996.

 

That's another problem I have. My account actually opened in October 1992 but was converted to a 'Gold account' in Jan 1996. Back in 1996 the only way you could get a Gold card from Barclaycard was if they approached you and invited you to have one (i.e. you had to be a pretty good customer) - I've asked Barclaycard to recalculate the amount back to the account actually opening but they're going to check and see if there's any evidence that the PPI goes back that far - I've asked if they can prove that it only started in 1996!

 

If I'm honest, I'm unhappy with the amounts here but I don't have any account information of my own to fight them with. Any thoughts on things I could challenge Barclaycard about of should I just accept the next offer?

 

Thanks.

[ims21]

You can always ask them for the full and detailed breakdown of the figures, premium by premium.

[candyapple1]

Hi Mister M, just wondering what happened with this?

[Mister M]

Hi candyapple1,

 

Oddly enough I spoke to Barclaycard on Monday (4 Feb) because I hadn't heard from them. Turns out they replied on 16 Jan although I never received it (they're sending me a copy of their reply).

 

What they were able to tell me is that they haven't changed their mind about the amount they're prepared to pay. I've discussed it with them a bit more and they've asked me to write in on my specific points - the main ones being:

 

- I want the charges backdated to the opening of the account

 

- I want the purchase interest rate to be applied to the PPI premiums for the period from when I stopped paying them to when the account was closed (about 11 years worth).

 

I've also spoken to the Ombudsman and told them I'd like to continue their investigation of my complaint - they've told me I could end up waiting another 12-18 months for it to be resolved but I figured that I've waited this long so why not....?

 

I'll update this if I get any joy out of either party.

[dx100uk]

and 8% stat from the account closure date on that figure to today or when finally settled

 

dx

[Mister M]

Hi dx100uk,

 

I wasn't sure how the interest should work. Barclaycard seem to think that:

 

- they only need to pay interest at the 'purchase rate' (roughly 20%) for the period of time that I was paying PPI (which acording to them is Jan 96 to May 2001)

 

- for periods after this they pay the 8% rate

 

My view is that when I stopped paying PPI in May 2001 my account was effectively £441 higher than it should have been because I shouldn't have been paying the PPI. So I was unnecessarily paying interest at the 'purchase rate' on £441 up until the account closed.

 

Is either one of us right?

[alanalana]

Hi Mister M,

 

not sure about the figures you post but IMO you should try for the max but run it by the FOS. I believe from your post that you should be entitled to the interest you were paying on the additional £441. I am however not a trained accountant. My shout is claim if you believe you have a just case and in the PPI mis selling scandal who can doubt you have a just case? £25 Billion estimate on mis sold PPI. Makes the mind boggle. Ripoff followed by the Libor scandal. Fiddling in a nutshell across the BOARD. PPI reclaims go for it and mention restitution for the loss of capital when you claim.

 

aa

[Mister M]

Hi Alanalana

 

I received a copy of their reply today and I was quite disappointed at the arrogance of it - particularly the way they finish by telling me that they won't be reviewing their decision - that this is their final decision and that they won't enter into correspondence about it.

 

So off to FOS we go.

[anney63]

Are you any further with this . I sent a claim to FOS for exactly the same reason and still after many calls it hasn't been dealt with. I just keep getting told its in the correct department

[Mister M]

Hi Anney63,

 

No - still no reply from FOS.

 

I spoke to them back in October last year when we got to the two year anniversary of me first raising it with them. They wrote to Barclaycard because they'd failed to provide FOS with all the detail they needed about the account and asked me to phone them a month later to find out how things were progressing.

 

A month later [November 2014] I phoned again only for FOS to say that Barclaycard had claimed not to have received the e-mail from FOS asking for the account information so they'd sent it again and set a two week deadline for Barclaycard to respond.

 

When I phone FOS two weeks later they said that they had the information and were now waiting for the Ombudsman to adjudicate on it.

 

Here we are, 6 months later and I keep getting e-mails from FOS saying that they "hope to give me a decision in the next few months". I've had two e-mails with that wording in now so I'm no longer expecting anything any time soon.

 

Seems crazy that this has taken so long - I wonder if the interest is still being added?

[anney63]

I spoke to them yesterday guy said that Barclaycard have to rework the redress on a number of claims and they are being dealt with in date order. I asked about interest and he did say yes it will be paid up until the actual date the claim is settled.he even gave me a direct number to redress team so I will be calling monthly

[Mister M]

Very interesting.

 

Let me know how you get on and I'll update here if I get anything too.