Barclay Masterloan PPI

[PPI-masterloan]

Hello everyone.

I'm looking for some advice please.

I have completed the PPI forms and sent these to Barclay Masterloan in Liverpool. They responded with a standard letter and a their own form to complete. I return this a few weeks ago and today I have received a letter from Barclays Leicester stating that they have completed their investigation and have been unable to locate a policy for PPI in my name. They had said in the letter that if I can provide them with a policy number they would reopen the complaint.

I have already supplied them with the loan account number, the loan application number, loan approval letter, confirmation letter and the payment breakdown.

I've have since found another document headed "customer copy" this contains the following information...

Credit agreement regulated by the consumer credit act 1974 with T&Cs on the back. Clause 5 & 8 makes reference to payment protection with Barclays insurance (Dublin) Ltd.

Your Masterloan is in two parts. The premium loan is to finance the payment of a single premium to purchase life, accident, sickness and unemployment insurance cover.


CASH LOAN & Premium Loan
Amount of loan £15000.00 & £2881.18
Total charge for credit £3459.00 & £681.62
Total Payable £18549.00 & £3562.80
Monthly Payment £309.15 & £59.38 = £368.53
Number of repayments 60 & 60

(I've colour coded the two parts as it would not format)

There is no reference to a policy number on the above document. As they have not returned the other documents I've sent I'm very reluctant to part with this new one I've found.

My questions are

1 Do you think this would be a valid claim ?
2 If you do then how much would you estimate ?
3 Should I write back to the Leicester office with a copy of the document even though they have been given all this information?
4 Is this normal tactics from Barclays ?
5 Should I take this direct to the FOS ?

Any advice would be appreciated.

[di30]

Re: Barclay Masterloan PPI

Hi and welcome

I will take a look at your post now x

[di30]

Re: Barclay Masterloan PPI

Hello everyone.

I'm looking for some advice please.

I have completed the PPI forms and sent these to Barclay Masterloan in Liverpool. They responded with a standard letter and a their own form to complete. I return this a few weeks ago and today I have received a letter from Barclays Leicester stating that they have completed their investigation and have been unable to locate a policy for PPI in my name. They had said in the letter that if I can provide them with a policy number they would reopen the complaint.

I have already supplied them with the loan account number, the loan application number, loan approval letter, confirmation letter and the payment breakdown.

I've have since found another document headed "customer copy" this contains the following information...

Credit agreement regulated by the consumer credit act 1974 with T&Cs on the back. Clause 5 & 8 makes reference to payment protection with Barclays insurance (Dublin) Ltd.

Your Masterloan is in two parts. The premium loan is to finance the payment of a single premium to purchase life, accident, sickness and unemployment insurance cover.


CASH LOAN & Premium Loan
Amount of loan £15000.00 & £2881.18
Total charge for credit £3459.00 & £681.62
Total Payable £18549.00 & £3562.80
Monthly Payment £309.15 & £59.38 = £368.53
Number of repayments 60 & 60

(I've colour coded the two parts as it would not format)

There is no reference to a policy number on the above document. As they have not returned the other documents I've sent I'm very reluctant to part with this new one I've found.

My questions are

1 Do you think this would be a valid claim ?
2 If you do then how much would you estimate ?
3 Should I write back to the Leicester office with a copy of the document even though they have been given all this information?
4 Is this normal tactics from Barclays ?
5 Should I take this direct to the FOS ?

Any advice would be appreciated.

Hiya

If you do decide to send this, then just send them a copy only, this way you still have yours to fall back on.
I would personally send a "copy".

I am not usually the one for the calculation side of it but what you should receive is all PPI you paid to them every month to date or cancellation/settlement, the relevant interest to date and the 8% interest of what a court would award.

They should follow the FOS guidelines when calculating PPI refunds.

Yes send them a copy only.

Give them another opportunity to look into this complaint further now that you can provide them with the details you are sending them, then if they fail to respond to you, then complain to the FOS.

Usually, you can only complain to the FOS after you've been given the final decision, with details on the letter of how to complain to them, FOS/leaflet.

Nothing surprises me with any bank using these tactics, but keep on to them.
Good luck, please keep us posted, any probs, let us know, cheers.

[PPI-masterloan]

Re: Barclay Masterloan PPI

Hi,

Thanks for getting back to me so quick.

They do say at the bottom of the letter that this is their final response, which contradicts the previous paragraph which says,

"However, if you can provide further information relating to this policy, for example, the policy number or a copy of the policy document, your complaint will be re-opened."

As I said in the original post I've not located a policy number, all I can remember is the PPI was called Masterloan Protection Plan Flexi-Options.

I'll have another look in the loft before I take your advice and send a copy of the agreement.

[di30]

Re: Barclay Masterloan PPI

Hi,

Thanks for getting back to me so quick.

They do say at the bottom of the letter that this is their final response, which contradicts the previous paragraph which says,

"However, if you can provide further information relating to this policy, for example, the policy number or a copy of the policy document, your complaint will be re-opened."

As I said in the original post I've not located a policy number, all I can remember is the PPI was called Masterloan Protection Plan Flexi-Options.

I'll have another look in the loft before I take your advice and send a copy of the agreement.

Your very welcome

Another suggestion would be to check bank statements if you still have hold of these. Usually the loan account number is that of the ppi policy number. You may find the loan account number on an old statement when you paid for it on a monthly basis.

Good luck.

[Never-In-Doubt]

Re: Barclay Masterloan PPI

I would copy the agreement and send that back to them, they can match the agreement with archive records using other relevant search fields etc so always worth sending a COPY of the agreement if you have it.

You should, as Di30 stated above, get all premiums back plus 8% statutory interest but it's not like doing premiums paid x months x 8% =

It's done month to month so for instance if you made the first payment in Jan 2000, then you'd reclaim that premium + 8% from then till now, then you do the same for the Feb payment, then march and so on.... it works better in your favour that way

Best way to calculate it, use this helpful guide --> How to calculate PPI claims for yourself - MoneySavingExpert.com Forums

I reckon you should be looking at around £6,000 (approximately)...

[MattyA]

Re: Barclay Masterloan PPI

Hi I agree with all Di (& Niddy) says as ever they are spot on.

I would add one thing though.

If it were me I would write back to Barclays CEO (was Bob Diamond but not sure who it is now) asking him / her what on earth is going on , enclosing their last letter and all your information etc and ask him / her to personally ensure that this is looked into properly in accordance with the FOS guidelines and their promises, instead of you being fobbed off by his employees.

With regards to how much your claim might be worth, I will have a look at this for you but need a bit more info:

1: when did the loan start / finish
2: Did the add the premium to the loan amount at the begining ? if so this alone is a reason for mis-selling and will also affect how the interest due back is calculated.



Matty

Good luck.

Matty

[MattyA]

Re: Barclay Masterloan PPI

I would copy the agreement and send that back to them, they can match the agreement with archive records using other relevant search fields etc so always worth sending a COPY of the agreement if you have it.

You should, as Di30 stated above, get all premiums back plus 8% statutory interest but it's not like doing premiums paid x months x 8% =

It's done month to month so for instance if you made the first payment in Jan 2000, then you'd reclaim that premium + 8% from then till now, then you do the same for the Feb payment, then march and so on.... it works better in your favour that way

Best way to calculate it, use this helpful guide --> How to calculate PPI claims for yourself - MoneySavingExpert.com Forums

I reckon you should be looking at around £6,000 (approximately)...

Morning Boss

LOL - we must have been typing our responses at the same time!

[Never-In-Doubt]

Re: Barclay Masterloan PPI

If it were me I would write back to Barclays CEO (was Bob Diamond but not sure who it is now) asking him / her what on earth is going on , enclosing their last letter and all your information etc and ask him / her to personally ensure that this is looked into properly in accordance with the FOS guidelines and their promises, instead of you being fobbed off by his employees.

--> antony.jenkins@barclays.com

Direct email to the CEO

Remember Matty, we use this --> http://www.ceoemail.com/se.php?id=10648

Works a treat

[ken100464]

Re: Barclay Masterloan PPI

Cant agree more with the CEO advice.

Same problem with our Barclays PPI. SAR and everything came up with Zilch. ICO couldnt get them to budge with anything so we had nothing to go on.

Wrote to Anthony Jenkins with an account number we ontained from the local branch and bingo full SAR arrived. They have two computer systems. It was a credit card mind so could be different.

One normal staff use and one gods and other superior beings have access to

Seems the normal computer is purged of long dead accounts but bigwigs one isnt.

What the ICO would make of that not sure. Once I have a few spare moments will write to the ICO as they were told by Barclays they had no information on us. They accepted this. Shortly after the full SAR arrived. Then 6 months later ICO ordered Barclays to give us a SAR and that came back with nothing.

So ICO being lied to by Barclays and I have the proof.

[PPI-masterloan]

Re: Barclay Masterloan PPI

Hi I agree with all Di (& Niddy) says as ever they are spot on.

I would add one thing though.

If it were me I would write back to Barclays CEO (was Bob Diamond but not sure who it is now) asking him / her what on earth is going on , enclosing their last letter and all your information etc and ask him / her to personally ensure that this is looked into properly in accordance with the FOS guidelines and their promises, instead of you being fobbed off by his employees.

With regards to how much your claim might be worth, I will have a look at this for you but need a bit more info:

1: when did the loan start / finish
2: Did the add the premium to the loan amount at the begining ? if so this alone is a reason for mis-selling and will also affect how the interest due back is calculated.



Matty

Good luck.

Matty

Hi Matty,

I have uploaded the CA front with the breakdown, hope this is what you needed.

New CEO at Barclays is Antony Jenkins i will be emailing him.

The line continues off the page is... to purchase Life, Accident, Sickness and Unemployment Insurance Cover...

[Never-In-Doubt]

Re: Barclay Masterloan PPI

Yup around £6k

[PPI-masterloan]

Re: Barclay Masterloan PPI

Your very welcome

Another suggestion would be to check bank statements if you still have hold of these. Usually the loan account number is that of the ppi policy number. You may find the loan account number on an old statement when you paid for it on a monthly basis.

Good luck.

Thanks everyone for your help and advice.

DI30 -- I found some old bank statements going back to 1987 but none covering the 15k loan period - (Must of been lost in my house move)

I found two more Masterloans, one for £6000 with no reference on my Barclays statement (Other than the incoming depost and then my repayments of £176.75pm) and one for £700 in 1993 with an account reference. (payments shown going out to BL £64.83)

I also found out that I was paying insurance on a small overdraft from 1990 to 1992 The statement lists the monthly OD fee £10.00 with a separate entry of £4.74 Insurance.

Could you tell me if these are too old to claim please ?

[Never-In-Doubt]

Re: Barclay Masterloan PPI

It's before FOS so dodgy but worth a go.

I'd be quoting as much info as you can and explicitly state

"I only recently, in the last couple of days found out I had this insurance by fluke chance of reading an article online. As such, I am confirming I would have got in touch at the time had I realised this unwanted insurance was being applied to ANY of my banking products. As I'm now aware of its existence, I'm now getting in touch."

Reason being you can reclaim up to 6 (??) months since you became aware of the error/insurance/charge so that explains why you're only bringing it up now.

They may knock back the older stuff but worth a go

[di30]

Re: Barclay Masterloan PPI

Thanks everyone for your help and advice.

DI30 -- I found some old bank statements going back to 1987 but none covering the 15k loan period - (Must of been lost in my house move)

I found two more Masterloans, one for £6000 with no reference on my Barclays statement (Other than the incoming depost and then my repayments of £176.75pm) and one for £700 in 1993 with an account reference. (payments shown going out to BL £64.83)

I also found out that I was paying insurance on a small overdraft from 1990 to 1992 The statement lists the monthly OD fee £10.00 with a separate entry of £4.74 Insurance.

Could you tell me if these are too old to claim please ?

Hi
No probs.

Have you tried calling into the local branch, as they may still hold direct details of all loans etc.
When I sent off a SAR (Subject access Request) to the data dept of Lloyds, they provided me with most details, but what they did not provide to me, my local bank did provide me with some details of the loans, all account numbers, and the year taken out etc.

Just thought I should mention this, as you could still ask Barclays, even if you no longer bank with them anymore.

Did you send a SAR to request for all information of all finance taken out with the bank? (to the data dept)?

Well, I still think it may be worth a shot making a reclaim on all insurance you think you were mis sold on, no matter how old, I was successful with many from the 90's