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Mick L v Barclays


mickey66
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hi

right this is it,got my statements from Barclays in less than a week(they must be getting used to this by now!),and im now ready to start.......

quick question,dont wanna sound dumb:confused: ,but what exactly do i need to highlight on these statements besides the fees of £25/£30?

what about the interest etc?

cheers

mick

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With Barclays, I highlighted "Paid Referral" and "Unpaid Out" charges.

 

I used the England-Simple-Excel spreadsheet which can be found here .

Once you have your total, your template letters are here .

You don't include the 8% until you file at court.

To follow my case progress, click here to see where I'm at right now.

 

Welshman

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have finally got the chance to look at my statements!,never get any time to myself you see,3 young kids see to that:) ....anyway on opening up my statements,i find that they go back to Jan 1998!!,i can't claim that far back can i?,i thought it was only 5 years,so that would make my claim starting from Nov 2001 right?

its looking promising,have just gone through first lot of statements 2005-to now,and have been charged £935 just in the past year!!:o

 

******** gits:-x

 

but besides all that Barclays didnt cash my £10 cheque for the statements....bless 'em

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******** gits:-x

 

Would you be so kind as to edit your posting and remove the libellous word please Mickey. And I'm not talking about gits.

 

Thank You

To follow my case progress, click here to see where I'm at right now.

 

Welshman

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No, go back 6 years from the date you sent for your information so it's the year 2000.

 

2000,great thats even better,thanks.

 

thanks for the help,and once i get going with this,im gonna need alot more help believe me:sad: ,because me an 'legal' jargon etc just dont mix,makes my head hurt!:-(

 

thanks in advance.

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  • 2 weeks later...

right just about to do the LBA,but as usual im a tad confused,in the letter it says..'i calculate that you have taken £XXXX plus £xxx etc etc'...

 

i gather i put the the total 'un paid out/paid referrrals' in the first £ bit but what do i put in the 2nd £ bit?,i know it says 'overdraft interest' but whats that all about??

 

help!:confused:

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right just about to do the LBA,but as usual im a tad confused,in the letter it says..'i calculate that you have taken £XXXX plus £xxx etc etc'...

 

i gather i put the the total 'un paid out/paid referrrals' in the first £ bit but what do i put in the 2nd £ bit?,i know it says 'overdraft interest' but whats that all about??

 

help!:confused:

 

****meant 'Prelim' letter not LBA*****

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  • 4 weeks later...

only heard about this through the prog tonight...

here goes,i got a secured loan with Barclays for 62K,at the time they urged me to take this PPI,and to be honest i thought this sounds ok,coz if i dont use it in 5 years i get back the 15k terrific!...trouble is i didnt realise this would actually be added tomy original loan,now realise as it was,brought the total up to £77K!!

 

anyway,im in debt big,time and was trying to sort my mortgage to cut my payments,my mortgage company(northern rock) agreed to give me a new mortgage,which would include paying up the 62k secured loan with Barclays,lovely,would have saved me nearly £300 on my mortgage payments p/m....i contact Barclays to tell them i want to pay off the 62k and then they hit me with the fact that because of the PPI its now 77K!!!,i was furious as i didnt realise this would actually be added on..so basically this has totally knackered me now as it goes above the amount Northern rock could lend me.:mad:

basically i just want them to drop this 'add on' to my original loan so that i can get a better mortgage deal.dont think im being unreasonable do you?

 

also ive only had this loan for a year or so,so i dont even want to claim anyting back,or should i?

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Hi Mickey,

I presume form above that you have one of these Cashback PPI policies, where after 5 years as long as you meet all the conditions you will recieve the original premium less Insurance Tax (5%) back ?.

 

You will need to read the Terms and Conditions of this policy in great detail, you will find that the cashback option has a lot of get out clauses for the lender of course. I had one of these and I am currently fighting with GE Money / Purpleloans over the Mis Selling of this policy.

 

Clauses to lookout for..

 

1 - The Cashback option will not apply if you make a claim.

2 - The cashback option will only payout if all your loan payments have

been made on time. If you have arrears at any time ..it wont pay back

3 - Any change to the loan agreement will invalidate the cashback, I

found that if you took a top up to the loan the cashback would be

void. Though god knows how many times they called me offering a top

up to the loan and of course they never mention the Cashback.

4 - You have to request the cashback within 30 days of the policy

expiring otherwise it will not payout.

 

And I bet that they never clearly pointed out all the above conditions and probably more that could prevent you getting the Cashback.

 

You also have to remember that with this type of policy it only covers you for 5 years, In the case of my loan which was a 15yr loan, the policy cost was added to the initial loan which of course you Pay Interest on the premium over 15 years. The Interest alone would have cost me more than the original policy cost.

 

If you are thinking of cancelling the PPI , I would seriously get in touch with them and ask them to give you a figure for the refund that they would payout should you cancel the PPI. I did and to be Honest I was totally shocked and P***D off at what they offered.

My Policy Cost me £3388.10, It had been running for 3 years without any claim or problens and I was offered a refund of £97.00. The refund would have been used to reduce my monthy payments by a staggering 9 pence a month.

 

Whatever you decide to do ..DO NOT just write and cancel the policy, please look into it in great detail first, get all the figures etc from them first, otherwise you could end up even worse off.

 

I did some calcualtion on mine, I had a 17K loan, and if I had continued with that policy and obviously would have needed a further 2 to cover the remainder of the loan period..It would have cost me over £18K including Interest for the PPI alone. I got qoute from Paymentcare.co.uk which offered better cover for around £1200.00 and that would have covered for the full 15 years.

 

I hope the above info is of use to you, If you have any questions etc please do not hesitate to shout or PM me.

 

Ian

Lloyds TSB -PPI - Full refund . 05/09/06 :D:p (As Seen on TV) :p

Halifax settled in Full.. :D 22/09/06

TSB First Claim SETTLED IN FULL 19/10/06 :D

Second Claim to Lloyds TSB - Settled in Full

Firstplus - early settlement interest charges - Challenged the use of the rule of 78 - SETTLED IN FULL 12/1/07

PPI - GE Money / Purpleloans / Firstplus - Now Settled after 1 year long hard fight.

 

 

 

If my post has helped you, please click the scales! :grin:

 

Anything said is my opinion and how I understand the law, always consult professional legal advice before taking something to court.

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Hi Mickey,

I presume form above that you have one of these Cashback PPI policies, where after 5 years as long as you meet all the conditions you will recieve the original premium less Insurance Tax (5%) back ?.

 

You will need to read the Terms and Conditions of this policy in great detail, you will find that the cashback option has a lot of get out clauses for the lender of course. I had one of these and I am currently fighting with GE Money / Purpleloans over the Mis Selling of this policy.

 

Clauses to lookout for..

 

1 - The Cashback option will not apply if you make a claim.

2 - The cashback option will only payout if all your loan payments have

been made on time. If you have arrears at any time ..it wont pay back

3 - Any change to the loan agreement will invalidate the cashback, I

found that if you took a top up to the loan the cashback would be

void. Though god knows how many times they called me offering a top

up to the loan and of course they never mention the Cashback.

4 - You have to request the cashback within 30 days of the policy

expiring otherwise it will not payout.

 

And I bet that they never clearly pointed out all the above conditions and probably more that could prevent you getting the Cashback.

 

You also have to remember that with this type of policy it only covers you for 5 years, In the case of my loan which was a 15yr loan, the policy cost was added to the initial loan which of course you Pay Interest on the premium over 15 years. The Interest alone would have cost me more than the original policy cost.

 

If you are thinking of cancelling the PPI , I would seriously get in touch with them and ask them to give you a figure for the refund that they would payout should you cancel the PPI. I did and to be Honest I was totally shocked and P***D off at what they offered.

My Policy Cost me £3388.10, It had been running for 3 years without any claim or problens and I was offered a refund of £97.00. The refund would have been used to reduce my monthy payments by a staggering 9 pence a month.

 

Whatever you decide to do ..DO NOT just write and cancel the policy, please look into it in great detail first, get all the figures etc from them first, otherwise you could end up even worse off.

 

I did some calcualtion on mine, I had a 17K loan, and if I had continued with that policy and obviously would have needed a further 2 to cover the remainder of the loan period..It would have cost me over £18K including Interest for the PPI alone. I got qoute from Paymentcare.co.uk which offered better cover for around £1200.00 and that would have covered for the full 15 years.

 

I hope the above info is of use to you, If you have any questions etc please do not hesitate to shout or PM me.

 

Ian

 

thanks Ian

without checking my policy as yet,i am now a little worried as,due to Barclays dragging their heels with regards to the mortgage i was trying to secure i missed a payment(paid the following week,it was bang on top of xmas and my budget was a little stretched) and no doubt this will default my PPI.I had been requesting a settlement figure for my loan at the start of December but didnt get a figure for at least 3 weeks!

im going to ring Barclays Monday to try to get them to drop this PPI,because as i said above i didnt know it would be added onto my loan,they got me at a vunerable time.Im trying to sort my finances out and they are not helping at all, i need to get rid of this PPI because otherwise i cant go ahead with the new mortgage.....the chances of me losing my house are becoming very high,and hopefully Barclays(who are my bank of 20years!)will show abit of compassion.....although im not holding my breath:mad:

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I know that was one sure get out clause on the Policy that I had.. Should your account at any time be in arrears then the PPI Cashback would not be paid.

 

Let me know what they say when you call, hopefully you may get a sympathetic response as you have been a long time customer..But to be Honest I would be Surprised if you do.

 

Good Luck

 

Ian

Lloyds TSB -PPI - Full refund . 05/09/06 :D:p (As Seen on TV) :p

Halifax settled in Full.. :D 22/09/06

TSB First Claim SETTLED IN FULL 19/10/06 :D

Second Claim to Lloyds TSB - Settled in Full

Firstplus - early settlement interest charges - Challenged the use of the rule of 78 - SETTLED IN FULL 12/1/07

PPI - GE Money / Purpleloans / Firstplus - Now Settled after 1 year long hard fight.

 

 

 

If my post has helped you, please click the scales! :grin:

 

Anything said is my opinion and how I understand the law, always consult professional legal advice before taking something to court.

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im in financial difficulties and have been in touch with the 'consumer credit counselling service',and they have advised me to change banks(for obvious reasons),what i need to know is can i still go ahead with my claim for un-fair charges and if i do get the claims back will Barclays just take them as they will be one of my creditors or do they have to give them to me?

 

its all a big mess at the moment,ive been holding back with the claim as im trying to negotiate a new mortgage and Barclays have a say in this as ive a secured loan with them,so i thought id sort the mortgage first then go for the claim....incase i upset them!,if you know what i mean!

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There are 2 instances of interest you can claim:

 

1.When you go overdrawn the bank will charge you interest, perfectly lawfully.

 

However, if part of your overdraft is made up of penalty fees, they are also charging you interest on these too and it is this interest which you are entitled to claim back, but it's tricky to separate out from the total interest figure.

 

Vampiress has a spreadsheet, (the advanced one), in the bank templates library, which attempts to calculate this

 

It's quite complex and unless your claim is large may not amount to that much, so for simplicity's sake, some people don't bother

 

This is the interest referred to in the preliminary and LBA letters.

 

2. Section 69 8% interest on your claim, but only when you submit a claim at court. Don't add this interest before moneyclaim

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im in financial difficulties and have been in touch with the 'consumer credit counselling service',and they have advised me to change banks(for obvious reasons),what i need to know is can i still go ahead with my claim for un-fair charges and if i do get the claims back will Barclays just take them as they will be one of my creditors or do they have to give them to me?

 

its all a big mess at the moment,ive been holding back with the claim as im trying to negotiate a new mortgage and Barclays have a say in this as ive a secured loan with them,so i thought id sort the mortgage first then go for the claim....incase i upset them!,if you know what i mean!

 

...so the 2nd bit is for the interest then right?

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  • 1 month later...

now terminated my account which i knew was coming,so therefore can i still proceed with re-claiming my penalty charges?,and would i have to reword the 'template' letters that i send to them ie: as an ex customer blah blah

cheers

mick

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now terminated my account which i knew was coming,so therefore can i still proceed with re-claiming my penalty charges?,and would i have to reword the 'template' letters that i send to them ie: as an ex customer blah blah

cheers

mick

 

Yes, you may still proceed; reword templates if and as necessary! :cool:

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  • 2 weeks later...

i still havent got around to reclaiming my bank charges and this is the reason....i have recently entered into Debt Management plan with the CCCS,had no choice just could'nt cope,but thats another story!:( ,anyway my question is this..Barclays are now one of my creditors,they have closed my account which i knew would happen,but how would this affect my claim?,obviously they will still owe me my bank charges,roughly 2k but i owe them 3.5k(this is my overdraft),so if i win my case against them do they have to pay me back(via a cheque i assume) or would they just take the amount off the amount i owe them??

thanks.

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