FOS say yes! Question about interest...

BlondeHeadOn

I've just heard today that the FOS has agreed my PPI claim! :j I will get my premiums back plus interest.

Quick question: do they compound the interest, or is it a flat calculation over the whole amount? I paid the PPI for 7 years in total, so it would be nice if it was compound interest...

I still can't quite believe it, as it is almost 2 years since I put in the claim. To those of you still waiting - hang on in there!!!

di3004

BlondeHeadOn wrote: »

I've just heard today that the FOS has agreed my PPI claim! :j I will get my premiums back plus interest.

Quick question: do they compound the interest, or is it a flat calculation over the whole amount? I paid the PPI for 7 years in total, so it would be nice if it was compound interest...

I still can't quite believe it, as it is almost 2 years since I put in the claim. To those of you still waiting - hang on in there!!!

Hi there

Congratulations:beer: :T well done !

Right if this is settled then you get back every penny plus contractual interest and also 8% int of what a court would award.
For Example mine was settled and the PPI amount was for over £10K, but I received back just under £13K, this was also including £250 of distress payment.

When you receive this please post on the success thread, you can do that now if you wanted, to but this is great news, good one.:T X

BlondeHeadOn

Great, thank you!

I will definitely post this on the success board once I know all the details - I haven't received the actual value yet, just confirmation that I will get all the premiums back + interest at 8% (! - how on earth did they arrive at 8%? Not that I am complaining at all!!!)

This is so great - especially as I had completely forgotten about the claim!

:j

oscar52

di3004 wrote: »

Hi there

Congratulations:beer: :T well done !

Right if this is settled then you get back every penny plus contractual interest and also 8% int of what a court would award.
For Example mine was settled and the PPI amount was for over £10K, but I received back just under £13K, this was also including £250 of distress payment.

When you receive this please post on the success thread, you can do that now if you wanted, to but this is great news, good one.:T X

I just stumbled on this thread.

Think if i was getting 13K back, i wouldnt be too bothered about £250 for "distress".

PS - you do loans at all?:rotfl:

di3004

oscar52 wrote: »

I just stumbled on this thread.

Think if i was getting 13K back, i wouldnt be too bothered about £250 for "distress".

PS - you do loans at all?:rotfl:

lol, you do have a point here Oscar lol, this was suggested by the FOS half way through due to some issues happening at the time, we had forgotten all about this extra payment until we seen it was added to the refund lmao.
This one was last year after 14 months, these volumes are defo getting higher now though, which you know is taking longer to deal with, I thought 14 months was bad enough then.......:eek:

oscar52

di3004 wrote: »

lol, you do have a point here Oscar lol, this was suggested by the FOS half way through due to some issues happening at the time, we had forgotten all about this extra payment until we seen it was added to the refund lmao.
This one was last year after 14 months, these volumes are defo getting higher now though, which you know is taking longer to deal with, I thought 14 months was bad enough then.......:eek:

My complaint regarding CCA went in in November (think it was) so should look forward to a response on 2012 then (probably just after the olympics)

di3004

oscar52 wrote: »

My complaint regarding CCA went in in November (think it was) so should look forward to a response on 2012 then (probably just after the olympics)

Blimey......I do hope its way before that Oscar.......:eek: lol good luck.;)

grebe_2

my claim is being looked at by FOS - HFC said no - I have been paying PPI on a flexi account for at least 6 years - they said when I took the loan it would "tick all the boxes". and I would be sure to get the loan. I contacted the FOS initially about 18mths -2years ago and they say they have been so busy but they would deal with it as soon as they could. I contacted them again about 3 months ago asking if they could try to bring the adjudication forward, as I was in financial difficulty - they said again they were swamped but would try to bring if forward. I don't like to nag at them.
Things have got very difficult I have gone into a DMP in the past year and HFC are getting quite nasty about me only paying a nominal amount each month. I just wanted to know if anyone else's claim had taken such a long time. As far as I am aware even up to today they haven't even started to look at it. so there is still hope!
thanks again

di3004

grebe wrote: »

my claim is being looked at by FOS - HFC said no - I have been paying PPI on a flexi account for at least 6 years - they said when I took the loan it would "tick all the boxes". and I would be sure to get the loan. I contacted the FOS initially about 18mths -2years ago and they say they have been so busy but they would deal with it as soon as they could. I contacted them again about 3 months ago asking if they could try to bring the adjudication forward, as I was in financial difficulty - they said again they were swamped but would try to bring if forward. I don't like to nag at them.
Things have got very difficult I have gone into a DMP in the past year and HFC are getting quite nasty about me only paying a nominal amount each month. I just wanted to know if anyone else's claim had taken such a long time. As far as I am aware even up to today they haven't even started to look at it. so there is still hope!
thanks again

Hi there, left you a post over at the other thread you posted on, hope it helps your situation, good luck.;)