Refinanced loan question

[cornish donkey]

Hi, If you took out a small loan and then refinanced them to make a chain and all had ppi would that mean your ppi claim will definately be upheld?

 

or at least have a good chance of being upheld?

[dx100uk]

makes no odds

 

BUT it will hugely increase your reclaim

 

as you had PPI on PPI and PPI INT on PPI INT

 

see no.1. below

 

dx

[cornish donkey]

makes no odds

 

BUT it will hugely increase your reclaim

 

as you had PPI on PPI and PPI INT on PPI INT

 

see no.1. below

 

dx

 

Thank you for the really useful information

[cornish donkey]

One other question, I have no luck at all so i am not expecting Barclays to uphold my claim (my grounds for complaint are ppi was not discussed and i had no idea i was paying for it) but if it turns out they gave me no rebates when i refinanced each of my loans would they uphold that part of the claim?

[cornish donkey]

One other question, I have no luck at all so i am not expecting Barclays to uphold my claim (my grounds for complaint are ppi was not discussed and i had no idea i was paying for it) but if it turns out they gave me no rebates when i refinanced each of my loans would they uphold that part of the claim?

 

anyone? Sorry to seem pushy,i thought maybe you thought my question had been answered

[ims21]

Hi

 

If they don't uphold your claim then they will not pay anything.

 

Personally I would just await the decision and take it from there otherwise this is just speculation on what may or may not happen.

[cornish donkey]

Hi

 

If they don't uphold your claim then they will not pay anything.

 

Personally I would just await the decision and take it from there otherwise this is just speculation on what may or may not happen.

 

Okay thanks, I like to be prepared

[cornish donkey]

I have just received my paperwork from Barclays and they have refunded me the interest i paid on my 5 loans but not the ppi i paid, instead they they changed the amount of ppi i paid and refunded the difference. They said they found no failings in the way the ppi was sold. I phoned Barclays and told them this cant be right as i didn't know i had ppi and wouldn't have wanted it if they asked me, they told me to put it in writing and highlight this issue even tho their letter says its their final decision.

 

is it worth it?

 

i have spent the redress on paying off my credit card so would be worried incase they try and take the redress back.

 

confused...

[ims21]

Two threads on the same issue merged.

 

Your post is not clear....what exactly does their offer letter say and what breakdown of figures have they given you?

 

Have you one any of your own workings to show how much you should be getting back?

[cornish donkey]

Two threads on the same issue merged.

 

Your post is not clear....what exactly does their offer letter say and what breakdown of figures have they given you?

I haven't done my own working out as I haven't received my SAR yet.

I have a thick wad of workings out from them but it says on reviewing your complaint we noticed that you should have been provided with an insurance product that had flexibility and in this instance a regular premium PPI would have been better suited for you.

It shows what i paid in ppi and then shows what the premium ppi policy would have cost and refunds the difference followed by we have found no other failings in the sale of your ppi.

they seem to have charged overall about £400 for these new regular ppi payments and refunded the difference as my original ppi was more than this.

I think I'm down buy about £700 if you add interest to the £400 which i shouldn't have to pay as they have not taken my original complaint into account.

 

Have you one any of your own workings to show how much you should be getting back?

 

[ims21]

Ok so they are speculating that you would have purchased an alternative type of PPI product.

 

It is not for them to make this assertion and so you should challenge it.

 

You would need to write back to them categorically stating that you would not have purchased any payment protection and ask them on what basis and authority they are suggesting that you would have done so. Tell them that if they do not refund you in full then you will be lodging a complaint with the fos about their handling of your case and the unfounded assumptions they are making.

[cornish donkey]

Ok so they are speculating that you would have purchased an alternative type of PPI product.

 

It is not for them to make this assertion and so you should challenge it.

 

You would need to write back to them categorically stating that you would not have purchased any payment protection and ask them on what basis and authority they are suggesting that you would have done so. Tell them that if they do not refund you in full then you will be lodging a complaint with the fos about their handling of your case and the unfounded assumptions they are making.

 

Thank you, i'm glad you understood my ramblings...

 

Is there any chance if the case is reopened they could take the money they credited me back? or come up with an alternative redress leaving me out of pocket?

I have spent the redress they credited me with on paying of my high interest credit card (sigh of relief!!)

[ims21]

It would be extremely unlikely in my view.

 

By paying you out something they have admitted that something was not right (despite their protestations to the contrary).

 

You just now need to press them to get the correct amount.

 

By the way, Barclays have recently increased their provision for PPI mis-selling payouts so keep at them.

[cornish donkey]

How does this sound?

 

Dear Sir/Madam

　

I am writing to you following a telephone conversation I had with a PPI advisor today who told me to put my concerns in writing.

 

I received the outcome to my PPI complaint today and I am not entirely happy with the outcome. I can see you have refunded me the interest I was overcharged on my chain of loans but you have charged to me a regular premium PPI policy.

 

On what basis and authority do you have to suggest I would have opted for this product?

 

In my original complaint I told you that I had no idea PPI was placed on my personal loans and I was very upset to learn I paid for something I knew nothing about, did not need and did not want.

 

I have been a loyal Barclays Customer since 1995 and urge you to reopen my case and look at your decision once again. If I am not treated fairly and refunded in full I will lodge a complaint with the financial ombudsman service about your handling of my case and the unfounded assumptions you are making.

[ims21]

Yes but I would change the "urge" bit to read that you require them to review their decision and that you demand that they refund all PPI and appropriate interest to avoid lodging a formal complaint with fos.

 

You can, if you wish, mention that you are aware that fos will charge them a further £850 for a case fee if they become involved.

[cornish donkey]

Yes but I would change the "urge" bit to read that you require them to review their decision and that you demand that they refund all PPI and appropriate interest to avoid lodging a formal complaint with fos.

 

You can, if you wish, mention that you are aware that fos will charge them a further £850 for a case fee if they become involved.

 

Nice one thanks!

 

I'll stick it in the post tomorrow

[ims21]

Good stuff.

 

Forgot to say, give them a 14 day deadline too and then if no joy get fos involved.

[cornish donkey]

Updated, could you check this one for me please.

 

Dear Sir/Madam

　

I am writing to you following a telephone conversation I had with a PPI advisor today who told me to put my concerns in writing.

 

I received the outcome to my PPI complaint today and I am not entirely happy with the outcome. I can see you have refunded me the interest I was overcharged on my chain of loans but you have charged to me a regular premium PPI policy.

 

On what basis and authority do you have to suggest I would have opted for this product?

 

In my original complaint I told you that I had no idea PPI was placed on my personal loans and I was very upset to learn I paid for something I knew nothing about, did not need and did not want.

 

I have been a loyal Barclays Customer since 1995 and demand you to reopen my case and demand you refund all PPI and appropriate interest to avoid lodging a formal complaint with the financial ombudsman service about your handling of my case and the unfounded assumptions you are making.

I would also like to add that I am aware the financial ombudsman will charge you a fee if they become involved.

[cornish donkey]

I have added a deadline too.

[ims21]

Yep good stuff

[cornish donkey]

Okay so I posted my letter to Barclays (there was abit of a delay in me posting it) I dated and posted it on September 9th and they sent me back a letter dated the 12th saying they have reopened the case and am sorry i'm still not happy.

 

How long do they have to revise this decision? Is there a time limit?

[cornish donkey]

Does anyone know if there is any time limits when cases are reopened?

 

Do I take this to the FOS tomorrow? (23rd) I put a 14 day deadline which will be up but they have already responded.

 

Not sure where to take it from here?

[ims21]

You are free to go to fos but it might be worth a reminder letter the the lender telling them that if they don't respond within a further, say, seven days you will open a formal complaint with fos.

 

That may cost the lender a further £850 case fee.

[cornish donkey]

Thanks for the response.

 

I just phoned Barclays and they told me my complaint is with the case handlers and they cannot give me a timescale as to when it will be completed.

I asked if it would take as long as my original complaint and she didn't know, so I told her the 14 days were up and I may go to the FOS but she stuck fast to not knowing when it will be completed.