I recently got a statement for a loan that I took out in 2006.
I've never had a statement from them before and I suspect I only got this one as the loan is about to be completed after the 60 months.
What I picked up on right away is the the document is noted as being for a "Masterloan with Payment Protection". Whether or not the loan was arranged as being both a loan AND a seperate PPI, or as an integrated facility I can't remember. It may have been a required part of the loan but I don't have anything I can refer to to find out.
It shows an amount of PPI loan of £4896.16 which was paid as a single premium and added to the requested loan.
Naturally, it would be correct to say that interest on an ongoing basis was applied to the overall loan amount. I would never have agreed to this sort of addition to a loan to pay for PPI and in fact make a real point of annoying everyone in shops such as Dixons who try and sell PPI whenever I buy something electrical.
Now, first hurdle I have to clear is that I can't find a copy of the actual agreement for the PPI.
I wonder if anyone has a copy they can point me to.
I've asked for a copy from Barclaycard twice now but haven't received a response from them.
I've never had a statement from them before and I suspect I only got this one as the loan is about to be completed after the 60 months.
What I picked up on right away is the the document is noted as being for a "Masterloan with Payment Protection". Whether or not the loan was arranged as being both a loan AND a seperate PPI, or as an integrated facility I can't remember. It may have been a required part of the loan but I don't have anything I can refer to to find out.
It shows an amount of PPI loan of £4896.16 which was paid as a single premium and added to the requested loan.
Naturally, it would be correct to say that interest on an ongoing basis was applied to the overall loan amount. I would never have agreed to this sort of addition to a loan to pay for PPI and in fact make a real point of annoying everyone in shops such as Dixons who try and sell PPI whenever I buy something electrical.
Now, first hurdle I have to clear is that I can't find a copy of the actual agreement for the PPI.
I wonder if anyone has a copy they can point me to.
I've asked for a copy from Barclaycard twice now but haven't received a response from them.
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