PPI Reclaiming discussion Part III

di3004

Hey I scaped up a £1 last week and won myself a tenner on the lotto :T , okay not a lot but £9 more than what I had....:D .

jadest

I receive the following letter from FOS:

Dear _____

I refer to our recent letter informing you that the business has gone into administration.

I have now reveiwed your compliant and have to inform you that your complaint is one that I do not consider is likely to succeed.

I say this because the ombudsman may dismiss a complaint (without considering its merirs) under our rules 93, 3.4 [10]) where he considers it would be more suitable for the subject matter of the complaint to be dealt with by a court, arbitration or another complaints schem; a copy of our rules can be viewed on the financial Services Authority website at http://fsahandbook.info/FSA/html/handbook/DISP.

In cases where the business has gone into administration, the complaints are generally passed to the Financial Servises Compensation Scheme (FSCS) because the Financial Ombudsman Service is unable to assist in cases where the business is, or is likely to be, unable to meet successful claims made against it.

The FSCS is a "rescue fund" for customers who may have been disadvantaged by the actions of businesses authored to carry out transactions under the financial sevices legislation but who are now likely to be unable to meet claims of compensation. The FSCS is an independant organisation and its role is to pay compensation when it is satisfied that a business is not able to meet its financial obligations. It is separate from the Financial Services Authority (FSA) (whose role it is to regulate businesses, rather than to provide compensation) and the Financial Ombudsman Service. However, the FSCS will take into account the information that you may have submirred to us in any future assessment of your claim that they undertake.

FSCS operates under a set of rules made by the Financial Services Authority. These rules set down the requirements that must be met before a consumer is eligible to recieve any compensation. The FSCS can only pay compensation if the rules allow it.

Unfortunately, in some cases, consumerscannot be helped. However, the FSCS, if it can help, does have a limitation on the maximum compensation payment it can make.

We will be passing our file to the FSCS shrtly and they should contact you direct. But if you do not hear from them you can contact them at: .......

If, however you disagree with this course of action, please submit your reasons to me in writing within 21 day. If I do not hear from you by this time, I will arrange for your file to be passed to the FSCS and your complaint will be closed.

I have the following questions:

1. Has any-one had any compenation with FSCS before?
2. What is the most compensation they pay?
3. Is there any-other way of doing this now that London Scottish have gone into administration?
4. How likely is it that I get any-thong for them mis-selling PPI?

Any help will be much appreciated.... Thanks

booi666

di3004 wrote: »

That would be good.;)

So is this France thing to do with your band?

No i bought a house there last year,and right at the last minute when we were supposed to go accross and sign up for it and get the keys,my solicitor went through the contract only to find that there was no drainage with the property.

It was advertised with drainage so we pulled out,and im still looking for another project now my hse in the uk is just about finished:D

booi666

di3004 wrote: »

Hey I scaped up a £1 last week and won myself a tenner on the lotto :T , okay not a lot but £9 more than what I had....:D .

Its better in your sky rocket:rotfl:

marshallka

booi666 wrote: »

Good Morning all:j

Ding Ding Ding Round 2 Here Goes

I received a statement in sept 08

I pay £258.29 p/m

£45.88 of this is ppi

My closing balance as of sept 08 was £4918.08

On the 20th jan 09 i pay another installment so i would have another 4 payments to come of the balance £4918.08

The end date of this legal,criminal, theft of a loan is up in dec 2010

Im trying to mess around with the figures and it makes no sense,

Can any of you ppi guru's roughly work out

A = If i cancel and get my ppi back, what the payments could be for my initial loan.

B = if i were to cancel ppi but keep my payments at £258.29 how long would i have left on the loan.

I wont hold anyone to these figures so your all safe :rotfl: :rotfl:

And if your all worried about people not coming forward to this and claiming,

Dont worry, if what im trying to achieve with the big cats pays off then it will keep you all busy :rotfl: :rotfl:

Is this the one Boo??

booi666

marshallka wrote: »

Is this the one Boo??

Excellent you found it, i couldnt earlier:A

marshallka

booi666 wrote: »

Excellent you found it, i couldnt earlier:A

I need all detail of what the loan was and the PPI without interest. What they are with interest and what the APR was and also how long a period was the loan over...;)

booi666

marshallka wrote: »

I need all detail of what the loan was and the PPI without interest. What they are with interest and what the APR was and also how long a period was the loan over...;)

All i know is it was for 4 yrs,i know this might not help you but everything that i know is in the posting:o

marshallka

booi666 wrote: »

All i know is it was for 4 yrs,i know this might not help you but everything that i know is in the posting:o

All I know then is that the loan without the PPI would have been repayments of £212.41 which I suppose you know cause its obvious but as regards any other I would need more details...

A = If i cancel and get my ppi back, what the payments could be for my initial loan. which is above


B = if i were to cancel ppi but keep my payments at £258.29 how long would i have left on the loan. which would mean you would be paying extra of £45.88 per month so could clear your balance off quicker but without the APR do not know how much quicker.... .

Also can you make overpayments...???

booi666

Just dragged my statement out and,


Account summary is.

Interest for year £743.47

New balance at 30/09/08 is £4918.08

Any use to you?