PPI Reclaiming Discussion part 4

nunnygirl

pinknico wrote: »

Does the it say how long the co operative have to pay up and was it signed by an adjudicator?

Only asking so I can try and give you an idea what happens next.

The letter reads as follows;

'You will be pleased to hear that following our intervention, The Cooperative Bank has told me that although it maintains it's original view, it has agreed to settle your complaint on what it describes as a "goodwill basis" '



The FOS has said it may take 8 weeks, The Coop have said roughly a month.

All I want to know if there is anyway I can find out how much we are getting, as we have had no figures at all yet

marshallka

tiggrae wrote: »

what matters is if you signed an agreement 'in Full & Final Settlement' of your claim

Yes I agree there but even with the complaints that have been settled on goodwill on a full and final it looks like the FSA are "asking" that firms see the consumers right from what I read of the new proposals.

marshallka

nunnygirl wrote: »

Afternoon everyone

OH's case with the FOS was decided in his favour (yay!) and we're now just waiting for a reply from the Co-operative to tell us when he's getting what he is owed.

I have one massive problem with this as we still do not know what they are offering and no-one will tell us.

What can I do to get them to tell us this and is there any way I can get them to speed to repayment to us up?

Thanks in advance

I won with Co-op and they did exactly the same and ours also Goodwill. I had to sign without knowing but I knew I had recourse with FOS if they did not settle as if we never had the PPI and I asked our adjudicator to confirm this. Although we signed we put that we expected to be put back into the position as if we never had the PPI and we were. Our monies were paid within 5 weeks if I remember.

pinknico

Thats good that you didnt have to wait for an adjudicator to look into it, have you asked the co op/ fos for figures.

They may not be able to give you these until they have actually done the calculations as they will be putting you back into the position as if you had never had PPI and will need to calculate the 8% on all payments made so far etc etc.

If you dont agree with the calculations and figure you can take it back to the FOS.

tiggrae

nunnygirl wrote: »

The letter reads as follows;

'You will be pleased to hear that following our intervention, The Cooperative Bank has told me that although it maintains it's original view, it has agreed to settle your complaint on what it describes as a "goodwill basis" '



The FOS has said it may take 8 weeks, The Coop have said roughly a month.

All I want to know if there is anyway I can find out how much we are getting, as we have had no figures at all yet

do you have the original agreement - if you have the figures it's not hard to work out how much is owed back and it's always a good idea to check this as companies don't always get this right

tiggrae

marshallka wrote: »

Yes I agree there but even with the complaints that have been settled on goodwill on a full and final it looks like the FSA are "asking" that firms see the consumers right from what I read of the new proposals.

interesting - I wonder if a company challenged this where it would stand in law - on the one side the law of tort (contract) or an advisory from a Regulator, from my knowledge of Central Trust these are the biggest set of bleeping bleep bleep's I've come across

marshallka

pinknico wrote: »

Thats good that you didnt have to wait for an adjudicator to look into it, have you asked the co op/ fos for figures.

They may not be able to give you these until they have actually done the calculations as they will be putting you back into the position as if you had never had PPI and will need to calculate the 8% on all payments made so far etc etc.

If you dont agree with the calculations and figure you can take it back to the FOS.

Co-op mostly seem to settle on goodwill and mostly without the need for adjudication either. Mine was sent to FOS and immediately they had responded with an offer of goodwill. It was actually FOS's fault of them not getting the offer to me as the person dealing with it went off sick.:rolleyes:

nunnygirl

pinknico wrote: »

Thats good that you didnt have to wait for an adjudicator to look into it, have you asked the co op/ fos for figures.

They may not be able to give you these until they have actually done the calculations as they will be putting you back into the position as if you had never had PPI and will need to calculate the 8% on all payments made so far etc etc.

If you dont agree with the calculations and figure you can take it back to the FOS.

Thanks for this, I think my OH has already asked Coop for the figures but they couldn't give us them and I wasn't sure if it was right or not that they haven't done this

tiggrae wrote: »

do you have the original agreement - if you have the figures it's not hard to work out how much is owed back and it's always a good idea to check this as companies don't always get this right

OH had 5 loans with the Coop so we can't work out what they owe us, as none of our figures add up. There seems to be money missing for rebates and things.

marshallka

tiggrae wrote: »

interesting - I wonder if a company challenged this where it would stand in law - on the one side the law of tort (contract) or an advisory from a Regulator, from my knowledge of Central Trust these are the biggest set of bleeping bleep bleep's I've come across

I think the FSA " have vays of making them!!!" so to speak...;)

marshallka

nunnygirl wrote: »

Thanks for this, I think my OH has already asked Coop for the figures but they couldn't give us them and I wasn't sure if it was right or not that they haven't done this



OH had 5 loans with the Coop so we can't work out what they owe us, as none of our figures add up. There seems to be money missing for rebates and things.

I had 4 loans and they made a goodwill offer of one firstly and then when asked to redress the others they did all but one that was in 1997 and they or me had no details of the settlement.