Barclays Overdraft PPI

[willowgal]

Re: Barclays Overdraft PPI

Not sure if anyone will see this as the last post was a couple of years ago.
I recently contacted a PPI company and they "found" PPI on a Barclays OD I have had since 1993.
Current limit if £4,500 ... the account has been in debit for most of the time since them and I have been paying £100 charges each month just to keep it getting bigger.
I don't have all the old statements, but this OD limit has been set for well over 10 years (at 4.5K ... could have started smaller but I cannot remember!!) and it's always been negative.
Any idea where I can find a way of approximately calculating the PPI I've been paying ... I am self employed so this cover/insurance should never have been added and I was not aware it was there until I contacted the PPI firm.

Would be great to hear an answer if anyone can assist.
Thanks :-)
Willow

[Amethyst]

Re: Barclays Overdraft PPI

It should be broken down on your monthly statements. On £4.5k it could be up to £35 a month, depending how much time of the month you were in full overdraft, but it should be listed on statements. If not you should ask Barclays for a full list of transactions ( cheapest way is under a Subject Access Request - this should get you copies of any PPI agreement etc as well )

To request a refund from Barclays you can go direct http://www.barclays.co.uk/help/ppi-i...ppi-complaint/

They would calculate it for you and calculate any interest 8% owed. There are quite strict rules on calculations and if you thought the amount was incorrect you could go back to them or through the ombudsman to have it checked/recalculated. You can check it if you have all your statements by entering the amounts and dates of payments into a calculator which would add 8% per year from the date of each payment.

However you'd need to check any contract you may have entered with a claims management company as if they have already done the ground work your taking it over now won't stop you having to pay them their commission, or at very least a cancellation fee. It depends where in the process you are.