Barclays Bank PPI Claim - i won

[mr.c72]

Hi all, its been a long while since i was last on, following the advice given to me by this site, i have won my case thanks to legal beagles.
I had to go through the financial ombudsman to do it though, i recieved my letter through this morning saying that Barclays Bank have agreed to make me an offer to settle my complaint.

1st question

Do i sign the form agreeing to the above?

2nd question

By signing this and agreeing to Barclays making me an offer, is there anything i should be aware of?

3rd question

It states within the paperwork that the loan will be re-structured, does this mean that what i have already paid off of the loan will be wiped out or will & a new loan started or the payments that have been made up to date will come off of the new restructed loan minus the ppi too?

If i give you the details maybe that will help.

The loan started in Sept 2006 over 84 months, up to now i think i have made 39 payments roughly.

Amount of loan
17,500.00 + £5,273.92 PPI = £22,772.92

Total Amount Payable

£25,504.08

Monthly Repayments £303.62 + £91.50 PPI = £395.12

Loan term was over 84 months at 11.9% a.p.r.


Thanks for any advice given, could someone maybe shed any light on a ball park figure that i could maybe expect to recieve back, i should point out that the loan is still ongoing.

Thanks Again Legal Beagles, i will be making a donation shortly for helping me

[enaid]

Re: Barclays Bank PPI Claim - i won

Hi mr. c72 and well done you.
The re-structuring of the loan should put you in the position as if you had never had PPI included.
You are only agreeing to them making you an offer as far as I can see, you are not signing to accept as yet.
You have not said how long you have been paying the loan or how many payments you have actually made so figures can't be really calculated on the info you have given.
This is only my thoughts on it someone else maybe along soon with more advice.
Enaid x

[mr.c72]

Re: Barclays Bank PPI Claim - i won

Have now edited the the date when it was taken out lol silly me, from what the letter says, its saying if i sign the form from the financial ombudsman, this will enable Barclays to make me an offer on the PPI claim plus the 8% compensation whatever that is.

[Tools]

Re: Barclays Bank PPI Claim - i won

You should be offered 39? payments of £91.50 = £3568 plus 8% interest. I assume the PPI payments were separate from the loan amount?

Is it possible you could scan in or type up what the letter actually says. I would be inclined to ask them to clarify the offer amount before signing acceptance.

If they will not provide you with a figure then speak with the FOS and let them know this.

I am very pleased that you have been able to use the sites information to reclaim this money without assistance. It shows that the information on here and members own threads it is possible (and understandable enough) to be able to reclaim without assistance.

More importantly, it shows that the is no need to use a Claims Management Company to handle your claim who would charge you extortionate fees or around 30% for something which is possible to do yourself with a little time and effort.

Well done Mr C, you are a credit to what Beagles was created for. Also, many thanks for the pledge of a donation, this will enable the site to continue to help others such as yourself.

Once concluded, or before if you have the time, could we ask you to post your plight from start to finish. This will also help others to follow and reclaim themselves.

Feels bloody good and empowering to beat the buggers doesn't it

[enaid]

Re: Barclays Bank PPI Claim - i won

That means they will return what you have paid PPI plus 8% int on that amount,
So if you had made 40 payments@ £91.50 per month that would b4e £3660.00 by my reckoning, how they work things could be entirely different.

[enaid]

Re: Barclays Bank PPI Claim - i won

See someone posted while I was thining lol, thats what happens to me all the time, in any case let us know what they offer and someone will tell you if it's fair or not, once again well done.
Enaid x

[mr.c72]

Re: Barclays Bank PPI Claim - i won

Thanks for all the kind comments, Tools- it would be my pleasure to post up how shall we say a (how 2) on dealing with said matters.
To be honest, the information is written out so clearly and the various other bits of information are so easy to find that a monkey could follow it.
When i get some free time i will do the above for you all.

[mr.c72]

Re: Barclays Bank PPI Claim - i won

Well i got another little update from F.O.S on Saturday morning through the letter box. It said in the letter that they have forwarded on the signed copy back to Barclays to make me a settlement figure & i should have my settlement offer with in an 8 week time period.
Good times, just as a matter of interest how will the refund work? will it come off the cost of the loan (reduce my debt) or will the refund go back to my bank account?

Thanks All.

P.S im in the middle of writing out my plight from start to finish and will be posted in the very near future, just to help others in my situation.

[charitynjw]

Re: Barclays Bank PPI Claim - i won

Hi mr.c,

Well done! (though from what I've read on other posts, be careful to check the interest rate on the restructured agreement - these financial sorts are past masters at giving with one hand and taking back with the other!)

[patbl]

Re: Barclays Bank PPI Claim - i won

Hi,
I have just settled with barclays , after using FOS.
My loan was over 10 years old!!! i still had all the paperwork??
I recieved all PPI cost + 8%.

Thankyou very much legal Beagles.

[enaid]

Re: Barclays Bank PPI Claim - i won

Well done patbl and thanks for updating us on your claim, it is always appreciated to hear of the outcomes, especially when it's a good one. Your post just may help someone else with their claim too.
Enaid x