How FOS Calculate Refunds

amersall

You are welcome, let me know what you get.

nic__2

Hi everyone

We have a claim with the FSCS that has been upheld. Can anyone tell me what we can look to recieve, just a rough figure?

Loan was for consolodation, taken over 300 months.
Up front premium of £5979
300 monthy payments of £58, of which we have payed 55 months.
APR for PPI was 11%

Many thanks!

amersall

The FSCS only pay compensation for the PPI, you get 100% of the PPI for the first £2,000 and 90% for the rest.

oxopuss

Pls can someone help me work out how much interest is due on paying £25 PPI per month for 6 years (approx) to Monument from 2006 on. They have kindly offered me £1723 after only one letter but I would like to know how much the interest would be. many tks for any help!

amersall

Do you mean the 8%, if it is then with a card redress they put the card to zero balance and then recalculate from day one, any month that the card was in a credit balance, they do not pay the 8% for that month.

If it is the interest on the monthly payments I would assume it is in the PPI repaid, you would have to ring them and ask.

ridingwood

Hi
I put this in another thread but think it should be in this one as no-one has answered it.
I used the template questionnaire on this forum so thanks Martin.:money:
We have been made an offer from Lloyds TSB for PPI on a loan of £20,300 where the premium was paid at the same time as the loan repayment every month. They originally offered us £ 2152.92 however I phoned them up and queried this s not being enough, they immediately upped the offer on the phone to £3202.20
My question is, is this enough? I have seen on this forum that other people have had loans of 20k and been offered 6-7k,neither us nor Lloyds know how much of the repayments were for the loan and how much was for the PPI, they say they used a formula to work it out. I am seriously not figure minded so couldn't discuss it any further and asked them to send me a letter with a new offer, then I could ask you guys.
Anybody?
Thanks in advance.

miketaffyboy1

recivied an offer from blackhorse today for a car i bought but dont no if it's right

borrowed £4.935
interest £7192.36
monthly payment's £146.63
48 month's

and they offered me £1277.92
can any one help please

amersall

miketaffyboy1 wrote: »

recivied an offer from blackhorse today for a car i bought but dont no if it's right

borrowed £4.935
interest £7192.36
monthly payment's £146.63
48 month's

and they offered me £1277.92
can any one help please

This depends on the monthly PPI amount and if the loan was settled early or ran to term, they should give you a breakdown of the way they calculated this.
You only get PPI back and interest on this plus the 8%, did they give you the 8%?.

emmma923

i had a ppi claim upheld with barcalycard upheld last september. it was first calculated at £95.06 however when i called to query how far back it went they realised this was incorrect and it was recalculated at 971.19 which i was happy to accept...unfortunately they paid £95.06 to me twice but reversed one the same day, then they credited/debited my card with random amounts which did not add up to the refund over a 6-8wk period. all the time i was calling and no-one could see the errors, i finally received a letter saying they were satisifed all payments were made correctly and further complaints should be directed to the Ombudsman which i did advsing my complaint was how the payments were handled not the actual ppi amount...2 weeks later the outstanding amounts were paid and a goodwill payment appeared in my bank, it was another 2 weeks before i received a letter confirming the payments. I contacted the Ombudsman and they advised me to await their findings. So 2 wks ago i received a letter from the ombudsman advising my complaint is being upheld and i will be offered a compensation payment within 8wks. when i called the ombudsman they advised the whole case will be re-assessed and that they have no findings as they did not need to investigate?? has this happened to anyone else?

[Deleted User]

emmma923 wrote: »

when i called the ombudsman they advised the whole case will be re-assessed and that they have no findings as they did not need to investigate?? has this happened to anyone else?

The Bank has already corrected their original error, so what is the problem?