Success but with a problem!

blastermaster

Hi, another Lurker here! Apologies if i'm in the wrong place but 2 bits of good news to add the list,

£141 to HFC for PPI on a loan for a suite through DFS, interest free but not PPI free! Didn’t have to go to the FOS for that one all it took was a whinge to the salesman from HFC who had the misfortune to cold call me that day and a short wait.

Secondly just over £1500 + interest from First Direct for PPI on a Credit card, had to wait a year for that one as it went through the FOS. My issue with both was that I am self employed and with the CC I didn’t realise at the time that it was optional and with the HFC they just added it to the price of the suite!

But I do have a slight problem though hence me being on this tread namely with the interest returned with the card, first I had a letter from the FOS saying they upheld my claim, blah, blah, then about 3 weeks later I had a letter from FD saying we are going to pay you back (numbers approx) £1500 + £300 for interest charged + wait for it……………. £20 8% compensation! So I duly queried this with the FOS, they spoke to FD who said oops we got it the wrong way round, “the £20 is the interest charged on the premiums” Now I’ve had the card for nearly 6 years, always had a debt on it, hence the high PPI which on average was around £30 - £50 per month, and I know how they have come to this figure as they’ve sent me the calculations, basically they are paying me the bit in between me being charged for the PPI and then me paying the monthly fee.

Is this correct and is it what other people have got back? Only it seems a little unfair to me as A: I might have been able to pay the debt off a lot quicker if I wasn’t being overcharged for it and B: I had to pay around £60 per month for a year on the debt while I waited for the FOS!

Hopefully someone can help me with this, I would prefer a little more ammunition before I refer this back to the FOS!

Many thanks to Martin for bringing this to my attention!

di3004

blastermaster wrote: »

Hi, another Lurker here! Apologies if i'm in the wrong place but 2 bits of good news to add the list,

£141 to HFC for PPI on a loan for a suite through DFS, interest free but not PPI free! Didn’t have to go to the FOS for that one all it took was a whinge to the salesman from HFC who had the misfortune to cold call me that day and a short wait.

Secondly just over £1500 + interest from First Direct for PPI on a Credit card, had to wait a year for that one as it went through the FOS. My issue with both was that I am self employed and with the CC I didn’t realise at the time that it was optional and with the HFC they just added it to the price of the suite!

But I do have a slight problem though hence me being on this tread namely with the interest returned with the card, first I had a letter from the FOS saying they upheld my claim, blah, blah, then about 3 weeks later I had a letter from FD saying we are going to pay you back (numbers approx) £1500 + £300 for interest charged + wait for it……………. £20 8% compensation! So I duly queried this with the FOS, they spoke to FD who said oops we got it the wrong way round, “the £20 is the interest charged on the premiums” Now I’ve had the card for nearly 6 years, always had a debt on it, hence the high PPI which on average was around £30 - £50 per month, and I know how they have come to this figure as they’ve sent me the calculations, basically they are paying me the bit in between me being charged for the PPI and then me paying the monthly fee.

Is this correct and is it what other people have got back? Only it seems a little unfair to me as A: I might have been able to pay the debt off a lot quicker if I wasn’t being overcharged for it and B: I had to pay around £60 per month for a year on the debt while I waited for the FOS!

Hopefully someone can help me with this, I would prefer a little more ammunition before I refer this back to the FOS!

Many thanks to Martin for bringing this to my attention!

Hi there

Well done on your success.:beer::T:beer:

Now in regards of calculations I am sorry but I have not got a clue, but I do understand now that the FOS expect them to provide you with the full written breakdown of calculations.
To give you more of an idea there is a thread below that Maxdp originally posted in regards of how the FOS work out the calculations..here.......
http://forums.moneysavingexpert.com/showthread.html?t=1596473

And hopefully someone will come along soon with some info on this for you.;)