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Barclays uphold complaint then offer goodwill payment

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  • Barclays uphold complaint then offer goodwill payment

    Hi there just looking for some advice ..today I received a letter from Barclays stating that my ppi complaint has been upheld.the complaint was from a loan taken out with Mercantile credit (part of Barclays) in 1997 ..the loan was for £7000 and the ppi was £1870 with an apr of 13.5% over 84months..I had the original agreement and details of the policy when it started and finished but no policy paperwork which ..in the response I received today they have enclosed a cheque for £1800 they said this was a gesture of goodwill and that the sale of the policy was so long ago that they no longer have any financial records to accurately calculate my refund .they are also requesting more information about the premiums paid and the terms of the policy..can anyone offer advice regarding this..particularly how I could get the information they are looking for ..many many thanks chrissie
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  • #2
    Re: Barclays uphold complaint then offer goodwill payment

    Hiya

    First of all well done on your success.

    I take it you no statements with it being a long time ago.

    The banks/businesses must hold account data for at least 6 years, some will still hold info on achives, but not always.

    A Subject Access Request (SAR) may help but may not, as again the data dept may only hold info for about 6 years.

    Have you tried calling into your local Barclays at all? they may still hold so much info, maybe worth a shot.

    I was successful with all my Lloyds ppi reclaims, but 2 of those with them being from the mid 90's was also offered on a goodwill of approx £1200 for each of the 2 loans, so maybe that is the norm for Barclays if they're not able to go all the way back on the account, but as they are aware you did have ppi they made you an offer.

    If you can though, call into your local branch and see if they can help as well, because if you banked with them, the chances may be good. :tinysmile_twink_t2:

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    • #3
      Re: Barclays uphold complaint then offer goodwill payment

      Hi Di thanks for your advice ..I have found one old bank statement showing payment..I did phone barclays in Dublin and they gave me the policy details and the start and final payment dates to send with my original complaint but obviously this was not enough evidence ..will do as you suggest and see how it goes ..many thanks for your help will keep you posted chrissie

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      • #4
        Re: Barclays uphold complaint then offer goodwill payment

        Looks very low to me - 21% of your monthly repayment was for PPI - you should be entitled to this back plus interest to date at 8%- the offer does not cover the cost.

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        • #5
          Re: Barclays uphold complaint then offer goodwill payment

          Thank you .You are right the policy cost me more that £3000...Ihave contacted Barclays Dublin and after being transferred back and forth across the Irish Sea eventually their advice is to visit a Barclays branch and request hard copies of the transactions relating to my policy..If this is the case I don t understand why Barclays could not have retrieved this information themselves to calculate my payment. I plan to phone my nearest branch to check if this is correct ..the good thing is that Barclays agree that the policy was misold but its now up to me to prove it! Will keep this post updated many thanks for your support. Chrissie

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          • #6
            Re: Barclays uphold complaint then offer goodwill payment

            Hiya as Pressandgo says, you should also be receiving the interest on top of all premiums you made, so worth requesting they add that as well as your rights.

            The thing was with mine was there was 2 old accounts with lloyds, no probs with the recent ones where they did add interest etc, but due to little info they came up with the standard offer on the 2 at £1.200 x 2 loan ppi = £2.400 this was as an overall amount with no interest mentioned as they said it was an offer they offer to all in the same position with little details. That was though 2 years ago now, but with your's if you can get hold of some info from your local branch do send them the copies and copy in the email to the CEO as well to make sure they pay rightfully what you should be having plus interest x

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            • #7
              Re: Barclays uphold complaint then offer goodwill payment

              If you know how much the monthly payments were you can calculate the amount each month paid for ppi.

              If you know the approxinate date of your repayments - assume last day of month - that month and year a spreadsheet should would out the interest for you - it will be substantial - worth doing to let them know you know your rights.

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              • #8
                Re: Barclays uphold complaint then offer goodwill payment

                Hi again pressandgo many thanks for your support.i have the original agreement and it states the monthly cost of the ppi is 84x £33 and the loan payment was 84x£161 I have found 1 bank statement showing the payment..the thing I am confused about is that they have this information and confirmation of the insurance dates start, finish etc ..it's annoying that Barclays must also have the information they are asking me for I.e proof of payments / agreements etc I am not letting them away with this. I just have to get it right with my response .I am planning to visit a main branch in Edinburgh tomorrow as Barclays have advised but I will be very surprised if they can provide me with the proof I need ..just looking at other threads its seems just about impossible to get the sort of info I need..I am aware it should be quite a large sum and wonder if that's reason for the good will payment..I am so grateful for your support Chrissie x

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                • #9
                  Re: Barclays uphold complaint then offer goodwill payment

                  you now have all the info to work out the claim and proof - will dig out a spreadshhet from a previous claim and put in the figures - all I need from you iis the start date of your repayments - and was it paid off monthly as per the agrremment without significant defaults - don't want to pry - but the correct interest will be a considerable sum above the actual cost

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                  • #10
                    Re: Barclays uphold complaint then offer goodwill payment

                    Assuming you paid £33 on 1st Jan 1998 - the interest on that at 8% is over £43. That is why they want you to sttle for the goodwill payment, they have done the sums themselves in my view - should them you know what you are entitled to. No need to visit the bank.

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                    • #11
                      Re: Barclays uphold complaint then offer goodwill payment

                      Hi pressandgo thanks again for your help with this...here goes..the policy commenced 06/11/97 it was cancelled on 04/03/2003 the payments for the ppi were £33.40 a month with no defaults..now that is clearly not 84 months as it says on the original agreement..I cannot remember but I can only assume that I paid the loan off early..but it wouldn't have made any difference as it was front loaded. I am so grateful for your help with this..don't want to get my hopes up..thanks again chrissie

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                      • #12
                        Re: Barclays uphold complaint then offer goodwill payment

                        Will give the bank a miss till I get some more info ..great advice ! Chrissie

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                        • #13
                          Re: Barclays uphold complaint then offer goodwill payment

                          I make that 63 months at £33 plus interest at 8% from date of payment. If you repaid early you may have rec'd a rebate on the ppi but would ignore that for time being - think Barclays are trying it on. will work out actual rebate due.I would then write to them staing tis is the amount you require for redress and explain to them how you arrived at this amount and you have evidence to back it up, as they should have.

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                          • #14
                            Re: Barclays uphold complaint then offer goodwill payment

                            just worked out 63 months at £33 is over £2k without any interest!! £1800 is therefore more rip-off than goodwill.

                            Hopefully get back to you today - about to complete a FOS questionnaire and letter for a relative for a Lloyds PPI claim

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                            • #15
                              Re: Barclays uphold complaint then offer goodwill payment

                              Thanks so much for your help ..I am so grateful I will wait to hear from you then get a letter done ...they have not mentioned a time limit to respond ...it's amazing what you all do to help people like me! It's so annoying that the banks are putting people in this position when they have legitimate claims.... to have people jumping through hoops is shocking really ..rant over ! Lol ..sincere thanks chrissie

                              Comment

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