A little bit of advice please

[Mr.Angry]

Hi All,
I have just been doing a bit of a clear out and came across tons of my old credit card statements going back donkey's years from various companies.

One thing I noticed that was common to them all was the variable monthly PPI charges, it was never the same each month on any of them.

I presume that they charged percentage wise to the amount you spent.

One in particular which is the bank that we still use and have a good relationship with had on a couple of occasions actually charge in excess of £100 + interest and another month £75 + interest.

The average however looks as though it was between 87p and £8.67 every month.

My question is.

If I go for the bank that we still use and seem to have a good relationship with, does it cause any problems for our future business together.

All the rest I am not too bothered about and will start applying to them straight away.

I was told recently that after December this year that no one will be able to make claims for PPI, is this correct.

Thanks in advance.
Gerry

[Sapphire]

Re: A little bit of advice please

Bumping for one of our PPI Experts

[Inca]

Re: A little bit of advice please

:bump:

[Bill-K]

Re: A little bit of advice please

Hi Gerry - sorry I missed this. Well done for keeping those statements. Yes, credit card PPI is charged as a percentage of the monthly balance.

Back in the early days of penalty charge reclaims a lot of banks closed claimants accounts citing reasons such as 'the breakdown of a working relationship.' The FOS eventually put a stop to this. Reclaiming mis-sold PPI should not affect your banking relationship, but I cannot guarantee that. It is normally not a problem, but if the bank refuses your claim and you decide to take the matter further, then you will need to try and be firm but polite. I have not heard of anyone having a problem with this, though.

Have a read of the advice in the PPI section before you claim:
http://www.legalbeagles.info/forums/...ASE-READ-FIRST

Do not give too much information at the outset, but wait and see what their initial response is, and then take it from there. You need to be clear as to why you believe the PPI was mis-sold, so check the list of reasons and keep a good record of everything. It is important to try and get their admission of mis-selling without having to refer the claim to the FOS, as FOS claims are taking many months to be processed.

The next thing is to calculate what amount you expect to be offered, and this is where you will need your statements. The calculation is a little complex, but we have a spreadsheet/calculator program for doing this. I've attached a copy of it here. You will need to fill in the monthly PPI, interest and balance from your statements. It is tedious, but worth the effort, as PPI redress offers can be far short of the correct amount - so they need to be checked. You can also reclaim some penalty charges, as they may be a direct result of the effect of the PPI charges on the balance - there is a column for this. We can't do this work for you, but we will help you do it.

Additionally, if you had any Card Protection Insurance (such as CPP or Sentinel), then this can also now be reclaimed as mis-sold - so these can be listed as well.

I haven't heard anything about PPI not being reclaimable after December. There are a few regulatory changes due to take place next year, but I've heard nothing that suggests PPI claims will be stopped. Get your claims in now, though, to be on the safe side !!!

[Mr.Angry]

Re: A little bit of advice please

Hi Bill
Thank you so very much for that huge explanation in answer to my question, I really appreciate the trouble you went through to reply.

I will get onto it all tomorrow and start by downloading the forms from the various companies websites.

I will keep an on-line diary on this site for all to see and to hopefully help others with the same problem.

Many thanks again.
Gerry

[Bill-K]

Re: A little bit of advice please

I hope I helped, Gerry. If you can start a separate thread for each of the claims in the PPI section, that would be good, Gerry. Yes, indeedy, the lenders mostly have PPI reclaim areas on their websites now, so follow their guidelines. If they suggest you send a FOS PPI questionnaire in, then by all means do so - BUT - do NOT be too generous with your replies. Tell the truth, but don't say more than you need to.

You might find that keeping a diary will help you stay on top of things, but it's probably better for you to keep that yourself. The separate threads for each claim are what's important here, because each claim is different - and can sometimes involve different helpers here.