Sausage1971
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PPI Refund Offer from Barcalycard. Compound or simple interest??
Sausage1971 replied to Sausage1971's topic in Barclaycard
Thanks Slick It does seem low to me and I did call them today and they couldn't confirm their calculation methods. I will test the water witha letter and report back. -
PPI Refund Offer from Barcalycard. Compound or simple interest??
Sausage1971 replied to Sausage1971's topic in Barclaycard
Ok, assuming I was in debt each month (this would have been the case at this time and I would have been close, if not over limit, circa £2500), i.e., an outstanding balance and premiums were charged in these months what can I claim and what would be the calculation? i'm weighing up whether it is worth going back to Barclaycard and challenging the offer with a counterclaim. If, knowing the calculation and if it presents itself as possibly worthwhile, I will SAR Barclaycard and proceed that way. But for the sake of a small uplift from their offer I wouldn't jump through the hoops but if it was significant I would. Hope I'm making sense!!! Thanks -
PPI Refund Offer from Barcalycard. Compound or simple interest??
Sausage1971 replied to Sausage1971's topic in Barclaycard
No SAR yet as they contacted me out of the blue, took some details and sent the offer If the premiums paid are correct even with simple interest (£240.55*8% pa) * 16 = £307.90 which is over double their interest calculation If compound interest is applicable then we are looking at at £523 in interest based on 8% I have also read on CAG that the APR charged by Barclaycard can be used as the applicable interest rate So, still confused what interest i can apply to the initial £240.55 premium if we take that figure as correct Thanks -
Hi all Need some help Just received a PPI refund offer from Barclaycard. PPI began on 4th Nov 1999 and ended on 7th Nov 2000. The account is now closed. barclaycard dont have any statements etc from this time so have estimated the refund based on average figures. The offer below is based on "average amounts we would refund someone who was sold a comparable policy on a credit card held for a similar time period" Refund of Payments made for PPI cover charged on a comparable policy £240.55 Refund of interest charged on PPI Premiums charged on a comparable policy £126.28 Statutory Compensation £155.17 Income Tax Deduction £31.03 Total Refund £490.97 So, does that sound right? Or can i add interest? if I can, is it simple or compound? is it 8% or circa 24.9% which I think was the rate charged by Barclaycard. I have looked on the forums and googled this but have lots of differing answers and opinions but would really appreciate something definitive. I remember the card limit being £2500-2700 and I would have been close to that most months Thanks for the help Sausage
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They have now agreed that the account was up to date and a payment method in place so I didn't default/miss any payments. But they still insist that I need to pay the full amount. Help!!
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Hi, I took out an on-line Times subscription in June 2014 which is due to end December 2015 (18 months) In January my payment method changed and early Feb I rang customer services to provide them with my new payment method and to make two payments to bring the account up to date. Early march I received an email informing me that my subscription had been cancelled (by them) on the 21st Feb and that the whole subscription was now owed and if not paid court proceedings would begin. I called them and explained two payments had been made and the account was up to date. They could not find the two payments (only one) and, after basically calling me a liar, insisted I provide a copy of my bank statement to prove the payments. I did this on the 2nd March and was told they would be in contact. Today I received a letter informing me that court action will be taken if I don't pay the full subscription of £303!! Where do I stand with this? The provider has cancelled the contract ( I was not in breach) and has not provided the agreed service since 21st Feb 2015. To be frank, I haven't missed this service and the way I have been treated no longer want it. As they have cancelled the service and subscription and I'm not in breach of contract can I simply walk away? Help appreciated.
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OK, that's fine. Worth exploring though.
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Can't remember paying a settlement. Just handed the car back. If that's the case the charges can't be claimed as they wasn't actually paid??
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Hi DX Still a bit confused. What do we suspect and what are we looking for in the SAR? Thanks
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Just received a reply from Close (attached) after requesting a SAR and making a formal complaint Advice welcome Thanks
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Ok, thanks
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So, the GAP is reclaimable but the charges are not as they were removed from the account?? Sorry to ask again but I'm still trying to get my head around if I've paid them or not.
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What do you suspect DX?
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OK. Will do. Thanks
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Can't remember who it was settled? Might not have been a settlement payment, just handed back as we had paid more than a half/third?
