Alliance & Leicester Credit Card PPI

[jonnyvinyl]

Hi All,

After receiving an offer from A&L regarding my loan PPI, ive decided to do some research on my A&L Credit card PPI.

I was sold this, under some pressure by a forceful and convincing tele sales assistant in 2005, and its run ever since. I don't believe ever ever received terms or an agreement, could this be right?? Im pretty sure if i did i would have kept it, i have all my statements for this account right back to the begining in 2003. I have no idea who actually provides the ppi, only it is charged to my card monthly, and there were times, when i was stuggling a bit financially, that my minimum payment didn't even cover my interest and PPI charges! Thankfully, ive worked my way out of that situation, but it could have been a lot easier.

Im sure i have a case here, at the time of the call i specifically asked if i could have all the information sent to me so i could read through it. I was point blank refused this and told i would have to give an answer right now. why did i say ok again???!!!

Anyway this has cost a lot of money over the years, ive never needed it and ive only recently decided, hold on, this just isnt right!!

My questions are - has anyone else done this with an A&L card, whats the first step and any other advice. Do i need an Subject access request if i have all my statements? Do i need to work out a total and send them the ammount i want? Just anything i may need to consider please let me know, it will be much appreciated!!

Many thanks,

Jonny

[jonnyvinyl]

Sorry, but can anyone help me out?

Jonny

[bulldogoscar]

Hi
I am in the same boat as you but with NatWest credit card,i have just rung them to cancel my ppi and i asked them if it covered pre existing medical conditions.The girl on the phone said it did...i asked what everything,she said yes.

I am going to send template letter to see how it goes.
Could i ask how much off the mark your offer was from al as i am waiting for one?

tony

[alanalana]

Hello Jonny,

Originally Posted by jonnyvinyl

Hi All,

After receiving an offer from A&L regarding my loan PPI, ive decided to do some research on my A&L Credit card PPI.

I was sold this, under some pressure by a forceful and convincing tele sales assistant in 2005, and its run ever since. I don't believe ever ever received terms or an agreement, could this be right?? Im pretty sure if i did i would have kept it, i have all my statements for this account right back to the begining in 2003. I have no idea who actually provides the ppi, only it is charged to my card monthly, and there were times, when i was stuggling a bit financially, that my minimum payment didn't even cover my interest and PPI charges! Thankfully, ive worked my way out of that situation, but it could have been a lot easier.

Im sure i have a case here, at the time of the call i specifically asked if i could have all the information sent to me so i could read through it. I was point blank refused this and told i would have to give an answer right now. why did i say ok again???!!!

Anyway this has cost a lot of money over the years, ive never needed it and ive only recently decided, hold on, this just isnt right!!

My questions are - has anyone else done this with an A&L card, whats the first step and any other advice. Do i need an Subject access request if i have all my statements? Do i need to work out a total and send them the ammount i want? Just anything i may need to consider please let me know, it will be much appreciated!!

Many thanks,

Jonny

Yes the Subject access request should not only get you statements on the account but the Consumer Credit Agreement, terms and conditions applicable to that agreement, and any other data that is applicable to you as a Data Subject. They should give you all the data they hold including copies or transcripts of tape recorded telephone conversations. If you do not get what you ask for then complain.

aa

[jonnyvinyl]

Hi Tony,

The offer i recieved was a full refund plus 8% interest, and cancellation of my future payments. Im happy enough with this and have accepted, though i believe i may have been duped a bit on reflection. As the amount has been added to my loan as a lump sum, i should really have gained interest for the Total cost of ppi, whereas they offered me 8% on the ammount i had paid already.......maybe someone can confirm that. Anyway, its done now....

Thanks aa for the reply, im also watching a similar thread, and will start to proceed similarly.

Thanks all,

Jonny

[pompeyfaith]

Hiya Johnny,

What you should have got to put you in the position you would have been in without it is.

1) The upfront policy taken off the loan there by reducing the amount owed

2) All monthy payments made returned to you with the interest rate applied to the loan at the time.

3) S69 statutory interest at 8% from time of loan taken out until time of refund.

Hope this helps in future if not now.

Regards

PF

[jonnyvinyl]

Yes thanks PF that will help in the future.... Heres what i got:

We have arranged for PPI to be removed from your loan, and a new loan agreement will be sent separately.

Our offer consists of £1411.40 as a refund, representing the payments made in respect of PPI from October 07 to May 09. it also includes £108.21 interest payable to June 09.

Total offer £1519.61.

I probably should however be receiving interest on the total cost off PPI at the 14.9% the loan was supplied at.

But anyway, acceptance in the post now, so well see how long it takes to sort it out!!

Thanks again,

Jonny

[pompeyfaith]

your welcome when u sign new agreement insure the term is only the remaining and the apr is the same or less PF