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This is my first post on here. In June 2013, we received 'partial refunds' for 3 loans we had with Barclays in the past - the loans were all settled before we made the PPI claim. The letter accompanying all the PPI breakdown states as follows:
'We have found that in this instance a regular premium PPI would have been better suited to your needs. This would have been paid in addition to your monthly loan repayments, so you would not have paid interest. Whereas in your case, single premium PPI was added as a lump sum to the overall value of your loans'
We accepted their settlement offer. Only recently were we made aware that some banks (including Barclays) had miscalculated PPI claims - basically suggesting the bank themselves were not wrong in selling us the PPI, they just sold us the wrong type.
We wrote to Barclays challenging their settlement offer, stating that we had never asked for any PPI policy to be included with any of the loans as we had savings and benefits through my husbands workplace to cover the payments should we need to.
We have now received a response from Barclays saying that they have taken a complete review of our claim and they stand by their original calculation. Their letter states that we have the option of contacting the FOS for an independent review but the FOS would be unlikely to take it further as our claim was settled more than 6 months ago.
I just wanted to check if this is worth taking any further as if we had been aware of this information at the time, then we certainly wouldn't have accepted the offer. I can't see how Barclays can make the assumption that we would have been suited to an alternative PPI policy if we didn't want any policy to start off with.
I would be grateful for any advice.
Kind Regards
'We have found that in this instance a regular premium PPI would have been better suited to your needs. This would have been paid in addition to your monthly loan repayments, so you would not have paid interest. Whereas in your case, single premium PPI was added as a lump sum to the overall value of your loans'
We accepted their settlement offer. Only recently were we made aware that some banks (including Barclays) had miscalculated PPI claims - basically suggesting the bank themselves were not wrong in selling us the PPI, they just sold us the wrong type.
We wrote to Barclays challenging their settlement offer, stating that we had never asked for any PPI policy to be included with any of the loans as we had savings and benefits through my husbands workplace to cover the payments should we need to.
We have now received a response from Barclays saying that they have taken a complete review of our claim and they stand by their original calculation. Their letter states that we have the option of contacting the FOS for an independent review but the FOS would be unlikely to take it further as our claim was settled more than 6 months ago.
I just wanted to check if this is worth taking any further as if we had been aware of this information at the time, then we certainly wouldn't have accepted the offer. I can't see how Barclays can make the assumption that we would have been suited to an alternative PPI policy if we didn't want any policy to start off with.
I would be grateful for any advice.
Kind Regards
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