PPI Reclaiming Discussion part 4

marshallka

lucieloo wrote: »

this is the situation. can anyone advise me or have i blown it? i sent my mis sold form to fp last week, then i was told by a friend that it was too old as it was 2002 so i contacted the citezens advice who then put me in touch with the fo who said i had a case and they were writing to fp asking them to give me a final discision. but it has only been a week!! he then told me if i dont agree with fp discision then they would look into it further. im wondering how come the fo have got involved so early, and will that go against me?

Hi lucieloo, FOS won't have actually got involved yet with your complaint as such but they will be asking FP to give you a final response and at that time they will then (if you want them to) get involved and request the file from FP.

You have not messed up and you just need to wait until they get back to you. You have to give them 8 weeks but it may be sooner if FOS have urged a response sooner maybe.

lucieloo

oh ok thanks for that i thought id messed it up! fos said if im not happy with the outcome ring them and he gave me a reference number and they will look into it further. im hoping now fp will see the letter and it will hurry them up!! thanks for your help anyway.

tiggrae

lucieloo wrote: »

oh ok thanks for that i thought id messed it up! fos said if im not happy with the outcome ring them and he gave me a reference number and they will look into it further. im hoping now fp will see the letter and it will hurry them up!! thanks for your help anyway.

FP do have 8 weeks in which to provide a respondse

lucieloo

oops!! i have been going through the letters i have sent to various companies. the first template letter from this site, and i have realised that after sending them to fp, freedom, hsbc, and aa i forgot to remove the statement that they had already been fined by the fos. after doing some research these companies have not been fined.i ran off one letter and photocopied it and forgot to remove that statement. so will the letters still stand.

tiggrae

lucieloo wrote: »

oops!! i have been going through the letters i have sent to various companies. the first template letter from this site, and i have realised that after sending them to fp, freedom, hsbc, and aa i forgot to remove the statement that they had already been fined by the fos. after doing some research these companies have not been fined.i ran off one letter and photocopied it and forgot to remove that statement. so will the letters still stand.

shouln't worry about it too much - they'll just say you're mistaken but it shouldn't have any impact on your overall claim

lucieloo

sorry to keep asking questions but i was wondering if you do get your ppi back if it was mis sold what is the 8% for? is it added once? if i paid my loan off in 2002 and my ppi was 4408. 20, is the 8% added once? how do they work it out?

di3004

Lucie ask away as much as you like lol

Normally for being deprived of your money, but have you also checked this thread here that MAXDP posted in regards of how the FOS calculates PPI refunds?
http://forums.moneysavingexpert.com/showthread.html?t=1596473
Oh and its what a court would award.

robbedofmymoney

strictly speaking they should apply the 8% to each and every payment you have made. from the payment date to the date you recieve your settlement, ie right up until 2010. i'm sure if i'm wrong someone will correct me.

marshallka

lucieloo wrote: »

sorry to keep asking questions but i was wondering if you do get your ppi back if it was mis sold what is the 8% for? is it added once? if i paid my loan off in 2002 and my ppi was 4408. 20, is the 8% added once? how do they work it out?

Hi Lucie, its for being deprived of the money (you could have used to for other things). Its paid like this.

If the loan is paid off in 2002 then they usually add it to each repayment made that went towards the PPI from the date the PPI amount was paid and then so on (for each repayment made towards PPI) and then whatever you repaid in the settling of the loan that went towards the loan of the PPI premium also and add it from when you settled.

marshallka

robbedofmymoney wrote: »

strictly speaking they should apply the 8% to each and every payment you have made. from the payment date to the date you recieve your settlement, ie right up until 2010. i'm sure if i'm wrong someone will correct me.

Some do and some do not. If you win a missale then FOS can ask that it be paid like this.