Barclays ppi please help im so confused.

[saleh108]

I received a decision from barclays confirming that i had been misold two ppi's, they confirmed that the estimated redress figure is £1,751.33.
1 month later without being informed they put only £500 into my barclays bank account.
i have contacted them 3 times but told the £500 was correct and the £1,751.33 was only an estimate, but no one has explained why the huge difference.
my other concern is i signed a letter to confirm acceptance when i was told it was the greater.

I feel i am being conned yet again.

Has anybody had a simillar problem or can explain maybe why...

Thanks

[labman]

Re: Barclays ppi please help im so confused.

Do you have a copy of the letter you signed, if socan you post it up with personal details removed?

Someone will be along to answer the actual ppi question.

[pompeyfaith]

Re: Barclays ppi please help im so confused.

Did it mention the word estimate in the letter ? I fail to see how they can give an estimate to the penny.

Like labman says can you scan and post up the letter or type it out word for word if you do not have a scanner.

Regards

[di30]

Re: Barclays ppi please help im so confused.

Hi there

As said in the above posts, if you do have any paperwork that should be of some help, please feel free to post them up.

[saleh108]

Re: Barclays ppi please help im so confused.

thanks, i will add the letter on monday.

[saleh108]

Re: Barclays ppi please help im so confused.

i have now attached the lettersfrom barclays.

regards

[EXC]

Re: Barclays ppi please help im so confused.

I would write back and ask for the precise calculation of the compensation amount and quote DISP app 3.9.4 which provides that:

''The firm should make any offer of redress to the complainant in a fair and balanced way. In particular, the firm should explain clearly to the complainant the basis for the redress offered including how any compensation is calculated.... ''

FSA Handbook - Full Handbook

I would also ask them how the huge discrepancy between the 'estimate' and the unexplained refund amount chimes with their ''no quibble'' policy.

Barclays To Pay All PPI Claims Made On No-Questions-Asked Basis Compensation | Business | Sky News

[labman]

Re: Barclays ppi please help im so confused.

I agree with Exc. I have to ask the obvious - did you ever make a claim against one of your policies?

[saleh108]

Re: Barclays ppi please help im so confused.

no, this was my only claim.

[Bill-K]

Re: Barclays ppi please help im so confused.

my other concern is i signed a letter to confirm acceptance when i was told it was the greater.

If you sent them this, then I would have thought this amounts to a done deal. I agree with EXC in that you are entitled to an understandable calculation of this - or these - amounts - but yes indeedy - what does 'NO QUIBBLE' mean in THEIR little dictionary ?

I think you might find the info in this section useful reading. Turboman has an excellent thread "Understanding PPI Calculations," which I think might help here.

PPI - payment protection insurance reclaiming - Legal Beagles Consumer Forum

Regarding Labman's question, I think what he is asking is "Have you actually made any claim on the Insurance itself ?" If you have, then this may indeed reduce your eventual settlement offer - although I think they should have checked this out themselves before sending you their original offer.

[reclaimsuk]

Re: Barclays ppi please help im so confused.

You are owed exactly what is on the redress amount and nothing less. This is a common tactic we see, and it's usually resolved with a letter or a quick telephone call, just outlining the facts in play.

Firstly, you were told you were owed x amount therefore why have you received Y amount.

Secondly, point out that you want nothing less and question the £500 is this the initial payment?

Keep us updated.

[WendyB]

Re: Barclays ppi please help im so confused.

Was there any arrears on the loan? If there was, they will have paid off the arrears and sent you the balance. Just a thought...

[Bill-K]

Re: Barclays ppi please help im so confused.

Was there any arrears on the loan? If there was, they will have paid off the arrears and sent you the balance. Just a thought...

Indeed, Wendy - worth checking out. But again, they should have made this particular 'appropriation' clear in their calculations, I would have thought.

[Bill-K]

Re: Barclays ppi please help im so confused.

Maybe I've been watching too much TV and drinking too much Bud, Saleh, but here are my thoughts, anywayz.

They made you an offer of approx. £1750. This was an OFFER - not an estimate - with an 'invitation to treat,' in that they invited you to accept their offer in F&F settlement. This you did, in which case there is an agreement in law, methinks. Had you accepted their offer in F&F, and then realised that you may have been entitled to more, then they would - I am sure - have produced your signed acceptance to defend themselves.

What appears to be happening here is that the offer HAS been accepted by you, and that the offeror is now trying to 'back out' of this. No way, José, say I !!!

BUT - unless we can prove that you have sent them your acceptance, then - "Houston, we have a problem..."

I think we need to be able to prove that you accepted their F&F offer, and there are only two ways I can think of, myself. One is the proof of posting - or preferably of receipt - of your acceptance. The other is an acknowledgement of their receipt of your acceptance.

If you have proof of posting, then "It's looking good, Houston" - BUT - I would suggest that you try and get an acknowledgement of your acceptance. In the circumstances, I think it may be best to assume that they will deny any receipt of this, if you simply ask for acknowledgement. The only way I can think of that might do the trick is for you to try and get them to 'ignore' your acceptance - perhaps on the grounds that you have 'since taken further advice, and are now seeking an even higher figure.' This may then get them to produce your acceptance letter, and thus acknowledge receipt thereof - in their own defence.

Amateur dramatics, I know - but maybe worth a try...?

[saleh108]

Re: Barclays ppi please help im so confused.

ive just spoken with barclays again (5th time) they said it looks like they only paid out on the loan which is still active, this was looked at by one of there team and they had issued the letter for agreeing the new loan(minus ppi).
this should apperently have gone to another section to pay out on expired ppi, but was mistakingly closed.
i requested they put it in writing, but was told they couldnt and to wait approx 3 more weeks.

hopefully i will receive whats owed, i have also now complained to the FSO.

fingers crossed.