How FOS Calculate Refunds

amersall

celsh wrote: »

Looking for some guidance please I currently have a case at the FOS which is related to an extremely old welcome finance loan (i know young and stupid!) however with welcome now being defunct the current status is that Aviva who were the underwriter for Welcome at this time have been sent information by the FOS to see if they were taking ownership of the claim, and I have been notified today that Aviva have accepted the ownership of this claim.
Following this I have now been advised that this is now back to the assessment stage within the FOS and I am a little unsure of what this means following Aviva's acceptance of this claim? and time scales that may now be involved or even if this shall be paid out at all can anyone advise ? many thanks .

Wait and see what Aviva do, hopefully you will get redress from them, fingers crossed, please let us know what happens.

Cliff_J

Just started proceedings with the FSCS now as Loanmakers who sold us our (Firstplus) loan went out of business.

Can anyone please offer me a little help on how much I should expect to receive, so I know whether to query it or not?

Original cash loan amount: £38000
Original PPI loan amount : £5506.20
Original fees amount: £995.00
Original total loan amount: £44501.20
Original loan agreement date: 15/08/2008
Agreed loan term: 25 years and 0 months

Annual interest rate was 8.6% and then went up to 9.6% on 15/8/2009

My original loan form shows:

cash loan £38000 + PPI loan £5506.20 = total of £43506.20
Monthly repayments (x300): £308.17 + PPI £44.66 = £352.83

But at 9.6% I pay £380.12 per month.

We have just completed 5 years and do not qualify for cashback as this is apparently a tailored loan.

This is one of those single premium jobs, pay for 25 years, covered only for 5 years!!!

Any help appreciated as I cannot work it out


Regards

Cliff

-taff

5506 plus 8%

amersall

taff, this is with FSCS they only compensate for the PPI, I don't think they pay the 8%, I could be wrong though

-taff

ahhh....didn't notice that bit
thanks

Art_Vandelay_3

Has anyone claimed PPI back through Lloyds? My claim was upheld but just got lost in the system for months on end. No matter who I spoke to they had no idea what was happening with the claim. In the end it was just a click of the mouse needed at their end to move the claim to redress. Has anyone had anything like this? Do I get interest for the time my claim was inactive?

-taff

your 8% interest will still have been accruing up until the date they transfer it or write a cheque for it.

Art_Vandelay_3

-taff wrote: »

your 8% interest will still have been accruing up until the date they transfer it or write a cheque for it.

Okay cool I was hoping that was the case

wiccan123

iv lost my replys im new and dont have a clue help from wiccan

amersall

wiccan123 wrote: »

iv lost my replys im new and dont have a clue help from wiccan

Click on your user name on the left of this post you just made, a list will come down and you just click on "other posts by wiccan" and you will see the posts you have made.