PPI Reclaiming Discussion part 4

di3004

Rockbird wrote: »

Hi there

I previously posted about the possibility of my being able to reclaim PPI on my credit card with MBNA/Alliance & Leicester.

I sent the template letter requesting all the insurance charges added to my MBNA/A&L card on 7th May and have not heard a word from them since, though I know they have 40 days to reply.

Meantime, a few days later I decided to cancel my PPI from now on (and had to give a month's notice, meaning PPI was still on June's statement) and I sent the FOS questionnaire to reclaim all of my PPI - bearing in mind I haven't had information on all my insurance going back yet.

This morning, I received a letter from MBNA stating that they "have arranged for an immediate refund of the premiums and associated interest charged to your account. A credit of £2058.88 will show on your next statement."

It goes on to say " I trust I have addressed you concerns to your satisfaction. I hope that you find my response acceptable. We have now exhausted our complaint process; therefore I must inform you that this is our final response on the matter. If you remain dissatisfied with the response, you may refer your complaint to the Financial Ombusdman Service, within six months of the date of this final response."

They 'regret' that they will not enter into any further correspondence regarding this matter, unless instructed to do so by the FOS.

Sorry it's a bit long-winded, but I used quotes from the letter!

My question is: should I accept the goodwill gesture of a refund into my account? I've seen other posts and responses advising others not to, as it's a cop-out, or some such thing.

As I haven't heard back from A&L from my first letter requesting a list of all charges to my A&L/MBNA card, could it be that I could be due more?

In which case, should I wait for their response or get onto the FOS?

Any advice would be much appreciated!

Hi there

This depends if your happy with the amount or not and if you want this refunded to you or the account really.;)

Right, it is known (but not always) that some have even changed final decisions, depending if you have anything further to tell them.

There is an issue that the FSA are punishing banks for not investigating complaints properly and for rejecting genuine complaints.........of being offered unreasonsable amounts.
(I tell everyone this now who have been knocked back - or if they don't feel happy with the decision).

So "if you want to, its entirely up to you", you could write back and give them 7 days to get back and tell them your not happy with the way your complaint have been dealt with (even though you have been issued with a final decision), and don't feel your complaint have been taken into consideration to uphold your complaint with the reasons you have given.
Tell them if you decide to complain to the Financial ombudsman service (FOS), you will be requesting for full amount, interest and further redress for distress and inconvenience, and if the FOS uphold your complaint, they will also be liable to pay out further charges.

You could state you will consider a higher amount and happy if they will refund directly to you and please get back by 7 days, then say if you hear nothing by 7 days, you will then complain to the FOS for the reasons given and as quoted above.
Also state you are given them the opportunity to reconsider it goes as far as the FOS.

The thing is its a chance you take really, if they do not deal with this the way you want, the offer may no longer stand "I don't think".

And of course, if you no arrears/missed payments, surely you should be entitled on how you want this refunded.

Remember though, the decision is yours.;)
Still well done.:beer:

In regards of not hearing from A&L about the first letter via charges, chase them up if you can.

Good luck with this, please keep us posted.

di3004

Gareth_Darke wrote: »

Hi all Just got a letter today stating that I have now been passed to an adjudicator. Does this mean things should happen soon?

Gareth

Hi Gareth

And yes, they are actually dealing with your complaint now.;)

Good luck with this.:)

Rockbird_2

Thank you for your advice. I guess what I really want/need to know is whether this goodwill gesture amount being offered is actually a full refund of all that I've paid out over the years, so bearing that in mind, perhaps I will write to them, asking them to quantify this. They do say it's a refund, but it's not been listed (as in much was paid each month).

I do actually want to have the money in my bank account so that I can decide where it goes, not for them to just credit my account, so I do have a reason to write to them about this, which I would think they can't ignore!

di3004

Rockbird wrote: »

Thank you for your advice. I guess what I really want/need to know is whether this goodwill gesture amount being offered is actually a full refund of all that I've paid out over the years, so bearing that in mind, perhaps I will write to them, asking them to quantify this. They do say it's a refund, but it's not been listed (as in much was paid each month).

I do actually want to have the money in my bank account so that I can decide where it goes, not for them to just credit my account, so I do have a reason to write to them about this, which I would think they can't ignore!

Hi

Yes I see what you mean now.
Ask them to send you a detailed written breakdown - they should do this if you request for this.

Normally they put it in a way, such as a goodwill offer - to put you back in the position if you did not have the PPI, or another way of a goodwill offer could just be that of an offer.

If they confirmed upholding your complaint, they should refund automatically all your PPI paid, and interest and also offer 8% interest on top of what a court would award for being deprived of your money.

Although a goodwill offer to put you back in the position, they can also offer the interest as well.

Hope this gives you some idea with this.;)

Di

Rockbird_2

They haven't really said that they've upheld my complaint. They've said "I trust I have addressed you concerns to your satisfaction. I hope that you find my response acceptable." Then go on to say they've exhausted the complaint process.

So, on that basis, maybe I can complain that they've not dealt with my complaint properly!!!

amersall

Rockbird wrote: »

They have really said that they've upheld my complaint. They've said "I trust I have addressed you concerns to your satisfaction. I hope that you find my response acceptable." Then go on to say they've exhausted the complaint process.

So, on that basis, maybe I can complain that they've not dealt with my complaint properly!!!

hi there, i would do as di says and see what they say first.They have made you an offer, all you want is to know how they worked it out and if they have given you full redress.They have upheld which is good so no point rocking the boat yet. Good luck with this and please keep us posted

di3004

Rockbird wrote: »

They have really said that they've upheld my complaint. They've said "I trust I have addressed you concerns to your satisfaction. I hope that you find my response acceptable." Then go on to say they've exhausted the complaint process.

So, on that basis, maybe I can complain that they've not dealt with my complaint properly!!!

Hi

So if they have upheld your complaint, then they should refund you all and put you back in the position as if PPI had not been taken out, they should therefore calculate your refund the same way as the FOS.

Below is the link that Maxdp posted in how the FOS calculates refunds for PPI via credit cards and loans etc, check this out here:
https://forums.moneysavingexpert.com/discussion/1596473

You could contact them to make sure on this and they should confirm.;)

skint-student-nurse

Im starting to reclaim my PPI from HSBC - had three loans with them (one outstanding,two paid off) so do i need to make one claim for all three or three separate claims? TIA

di3004

skint-student-nurse wrote: »

Im starting to reclaim my PPI from HSBC - had three loans with them (one outstanding,two paid off) so do i need to make one claim for all three or three separate claims? TIA

Hi there

I would deal with them as separate claims, I know it means more to do but it may save on time later on.

What you do instead of writing letters, complete the recently issued questionnaires *the financial ombudsman service issued these for us to us to complain to whom is responsible for the mis selling*.

You will find the FOS questionnaires further down the page as Stage one on the link below, remember as well to keep copies of them all, in case you need to refer to them later on.
They have 8 weeks in full to respond, when you post put them in the same envelope, but post by recorded delivery for your proof of posting.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Hope this helps, good luck and please keep us posted.;)

skint-student-nurse

excellent,thank you! im going to get things started now and i will keep you updated! thanks again