Capital one PPI

[willowthewysp]

Hi there..
I am just about to start the process of claiming charges back from capital one credit card...
I took the card out about 6 yrs ago...i was on benefits and cap one knew this.They advised me to take out ppi, so i did.
Well i am now over my limit on my card due to charges as a few months ago i got into financial difficulty and even though i contacted cap one about this, they continued to charge me, which has resulted in me now being over my limit.
I remembered the ppi, so contacted cap one thinking this should help me a lot. Cap one told me they dont deal with the ppi and gave me a number to phone.
I phoned this number and was told i could not claim a penny as i am not in full time employment....and as i wasn't in full time employment when i first got the credit card, i should not have been sold the ppi!
There was nothing the ppi could do and i was told to contact cap one again, which i did and was THEN told it basically had sod all to do with cap one!
PPi is still getting taken each month along with the charges, so i am getting more and more into debt!
Unfortunatley i do not have any proof of cap one mis-selling me the ppi.
The ppi totals up to about £360 SO FAR...money i have had taken from me, when there was NEVER any chance of me being able to claim anything!
Im going to try to cancel the ppi(I can never seem to get through to the right person to cancel)!
Is it possible for me to get any of this money back?and if so on what grounds?
My husband is now in full time employment, im not sure whether it would be worth me trying to claim on the ppi again(although his name is not on the card...it is soley mine)
Im really annoyed about this!
Any suggestions?!
xx

[bandonbhoy]

So using the OFT report of October 2006 (OFT869) and page 14 section 3.5
"Common minimum requirements for PPI are that a consumer must be living and working in the UK, be agedat least 18 and under 65 years, and be actively employed for at least 16 hours per week and have been so for a specified period of time"

Think you have case here, so sendLBA away listing charges for PPI and take it to small claims court.
I wrote to MBNA, because I took oy card two months before Iretired. cannot recollect taking out PPI, because that was always against my income conditions, in that I was in tenured position until 65, so would always have income. As I said two months later I had to retire due to ill health and have been oaying PPI since. Todays post brings in letter, giving me cbback mty PPI for the last year plus interest at 22.9% and they have ordered the previous years records from archive, and they will refund those PPI contributions also.

So persevere and best of luck

MBNA do sem to be taking this more kindly thatn other companies like Capital

[willowthewysp]

Thankyou for that, Bandonbhoy!
Will make a start straight away...

Oh...should i send a Subject Access Request first? As i do not have all my cap one statements so do not have all the ppi charges..?

[bandonbhoy]

for completeness, yes

[willowthewysp]

Received statements back with p.p.i payments...will trawl through them and then get my pre-lim letter sorted.....Can anyone tell me where i should send the pre-lim letter? I don't think the p.p.i are directly linked to capital one are they?

[dellydaisy]

Hi willow My ppi claim is thru allience and leciester and i know there ppi is sperate too.
I sent my prelim letter to the address they gave with my statements and it soon found its way to the right person!

Dont know if anyone else can help tho???

Delly x

[willowthewysp]

I think maybe i will phone them tommorrow and see if i can get an address out of them!
Thanks for replying!

[willowthewysp]

claiming ppi....am i to fill out a spreadsheet for this, and should i claim any interest...what spreadsheet should i use?

[reidnet]

Originally Posted by willowthewysp

claiming ppi....am i to fill out a spreadsheet for this, and should i claim any interest...what spreadsheet should i use?

Hi Willow,
.. Do you pay for your PPI monthly ? If so I would use the same spreadsheet as for bank charges and work out the interest on each payment that you have made. Remember to use the same interest rate as they charge you.

If like the one I got ripped off with , was a single payment PPI, I would claim the full amount plus interest from the date the policy was taken out.

Good luck

Ian

[willowthewysp]

It is a monthly ppi, but i didn't realise they charged me interest, so am not sure how to work out the interest!!!
I'll have to have a look at my statements again, and if i have no luck then phone the credit card company?....

[reidnet]

I would try and claim Interest of 8% APR on each payment, this is the rate that would be acceptable if your claim went to court. Basically that is an acceptable level of Interest to the court for loss of use of the Money that was taken as PPI Payments.

Ian

[willowthewysp]

will do that then....8% sounds good and stops the hassle of having to phone capital one!!!
Thankyou, reidnet!

[reidnet]

Originally Posted by willowthewysp

will do that then....8% sounds good and stops the hassle of having to phone capital one!!!
Thankyou, reidnet!

No problem..

Good Luck

[willowthewysp]

My pre-lim letter shouldn't contain 8% interest yet..is that right?

[reidnet]

Originally Posted by willowthewysp

My pre-lim letter shouldn't contain 8% interest yet..is that right?

If you know all the dates that the PPI premium was taken you could add 8% Interest to each charge based on 8%APR the same as you do with the bank charges.

Maybe someone else will comment further on that , The only PPI I have claimed back have been single Payment Policies..so easier to calculate.

[willowthewysp]

8% on each payment???!!!
If anyone could confirm that, please?!
I have already sent my pre-lim, but that shouldn't contain the 8% anyway should it.

[reidnet]

Originally Posted by willowthewysp

8% on each payment???!!!
If anyone could confirm that, please?!
I have already sent my pre-lim, but that shouldn't contain the 8% anyway should it.

Yeah I would go for 8% APR on each payment taken, You can use the spreadsheet from the bank charges to work out the actual interest on each payment. After all they Mis Sold you the product and have denied you the use of the money taken in way of premium. Much the same as the banks deny you access to the money they take in way of charges.

I would include the Interest in Prelim and LBA. The if you go to court stage add Juditial Interest of 8% APR per day, from the date of your claim to date of settlement or Judgement.

Ian

[kippy2]

on credit cards ppi its contractural interest rate then when you file claim you also add on 8% ....its what i did and they paid up ...especially cap one...desperate for me not to waste courts time :o