Providian/Monument/Barclaycard payment break plan **WON +£11k from Barclaycard**

[dx100uk]

spreadsheet

FOS CQ

and a covering letter

job done

 

 

dx

[Disco_V_rescue]

Thanks dx

 

are there any cover letter examples anywhere please

[dx100uk]

search cag box red toolbar

'ppi covering letter'

[Disco_V_rescue]

Thanks again dx

[dx100uk]

Hi Colli52,

 

Congratulations on your success!!

 

I am also owed money from payment break plan, my credit card was Providian then Monument and now Barclays. I am interested to know what your original letter to them contained, did you include details of your employment at the time? Did you provide them with a figure of money owed to you? Did you send in the questionnaire? Or did you simply just ask them to look at your account?

 

Sorry for all the questions but I have been meaning to sort mine out for a long long time but still not sure how.

 

 

so how is you claim going

 

dx

[Disco_V_rescue]

Thanks dx,

 

I still haven't got round to submitting my claim yet, was just looking for some advice from someone that has succeeded with the same scenario, perhaps Colli52 could answer on my thread

 

Thanks in advance

[dx100uk]

https://cse.google.co.uk/cse?cx=partner-pub-8889411648654839:6449422593&ie=UTF-8&q=monument+won&sa=Search+CAG#gsc.tab=0&gsc.q=monument%20won&gsc.page=1

[Disco_V_rescue]

Hi, I have had to rejoin under a new username - this is my original thread

 

 

 

to cut a very long story short, Barclays have sent me a cheque for

 

A. refund of all monthly payments made to payment break plan

B.  refund of interest charged on pbp and account fees

C. 8% statutory interest compensation

D. refund of fees incurred due to pbp

E. income tax deduction

 

whilst I am happy that they have upheld my complaint, I thought that I would receive compound interest.......the compound interest spreadsheet calculation was almost double the offer.

 

Does this sound right in your opinion? 

 

thanks in advance

 

Disco_V_rescue

[dx100uk]

I would say so yes but ofcourse only in the years they charged it not running till today.

 

can you drop n drag you cisheet here

and did you do a statint sheet for the years int was not charged?

their explanation is correct

 

[Disco_V_rescue]

thank you for your reply, i have changed the date on the cisheets to 22/04/2015 which was the point that pbp was cancelled on the account, it still amounts to more than they have calculated.......

 

I haven't done a statint sheet

24012001-23092004 int 1.583 per month.xlsx 23102004-23122005 int 1.666 per month.xlsx 23012006-18092014 int 1.873 per month.xlsx 20102014-22042015 int 1.870 per month.xlsx

[dx100uk]

i'm not really sure why you have 4 cisheets

use an avg of the differing APR's you use and ONE CISHEET.

 

you also indicate you were charged this PBP every month

so why are there monthly amounts missing ?

 

so what have they offered?
 

[Disco_V_rescue]

I originally did them individually for each time the interest rate had changed, I understand now I should have used average,

 

the missing months are statements I cannot find in my files and were not included in the sar, 

 

I've attached the offer - 

[dx100uk]

wow £11k that's a good win.

they got everything right

they used a known figure when unknown months existed.

 

it puzzles me why you think its lower than what you calc'd??

[Disco_V_rescue]

thanks,

my cisheets were previously dated to feb of this year,

so the calculation was showing much much higher,

 

you earlier corrected me that the date should have been the point that they stopped charging me so i changed it to apr 2015 and got down to nearer what they have offered.......

 

however with the date changed to apr 2015 the cisheets combined add up to £10,234.49, where they have calculated £7,405.95 (section B on offer photo)........

[dx100uk]

ok you've misunderstood how to calc things...

 

you don't make numerous cisheet at differing APR rates reclaiming the same PBP payments at differing rates, then add them all together!

not sure where you got that from

 

under the FOS reclaim calculation guidelines on their site, which are here in numerous threads and the stickies of this PPI forum,

for each monthly PPI payment [and you have years of missing months in your sheet]- which is where they've done it correctly by estimating the missing months]

 

you are entitled too:

the refund of any interest the payment has attracted that was charged by the original creditor until that ceased

8% statutory int from any time whereby the original stopped their int until the day they settle.

 

what you should have done is:

worked out an avg int rate for all the years the original creditor charged it whereby you paid or had paid PPI in previous years

used an avg of nearby known PPI amounts to guestimate monthly PPI payments where you had no data.

 

enter EACH PPI PAYMENT individually on its date in our CISHEET,

put their avg APR in cell D15

set the claim to date to the last date the original creditor charged their interest

...that will give you the total the original creditor charged you for PPI and at their interest.

 

if the original creditor ceased charging interest for whatever reason before the date of your claim

you are entitled to 8% statutory interest from that date till they settle.

 

you take the total from the cisheet

pop it into our STATINT sheet on the day/date following  the 'claim to' date on the CISHEET

 

that's gives you your total reclaim figure

 

[Disco_V_rescue]

thank you so much for your explanation, I think I understand it now 

[dx100uk]

I shall mark this won

as for PBP which was a devil to get out monument in the past -- this is a very important win.

 

glad we could help

 

please consider making a donation to keep us here to help others as we helped you get £11k.

 

dx

 

[Disco_V_rescue]

thank you dx, the new title looks good!!  

 

I will certainly be donating as soon as the cheque has cleared as your help was very much appreciated, proof that you don't need to go to these claims companies to succeed, there are people like yourself willing to help and advise, taking up a lot of your own time, sorry for all the questions but we got there in the end!!

 

p.s. I have a couple more to dig out before the deadline