Partial HFC success - advice needed pls!

richwhit

Hi,

HFC have upheld my compliant for missold PPI but rather than refund me my premiums that they have calculated at £1425.47 they have only offered me the option of settling the loan in full less the refund or setting up a new loan for the current settlement figure less the refund.

Can they do this as I'd much rather have my premiums refunded to me and carry on with the loan as it it is.

Thx

rich

marshallka

richwhit wrote: »

Hi,

HFC have upheld my compliant for missold PPI but rather than refund me my premiums that they have calculated at £1425.47 they have only offered me the option of settling the loan in full less the refund or setting up a new loan for the current settlement figure less the refund.

Can they do this as I'd much rather have my premiums refunded to me and carry on with the loan as it it is.

Thx

rich

Was this done through the FOS?
If it was then get the adjudicators advice and if not ask the FSA (as they should treat you fairly) what they advise on this.

http://www.fsa.gov.uk/Pages/Doing/Regulated/tcf/index.shtml

richwhit

Hi,

No it wasn't resolved through the FOS - HFC offered a refund directly.

Do I write back to them saying - no I want my refund paid back to me directly or do I go straight to the Ombudsman??

Thx

marshallka

richwhit wrote: »

Hi,

No it wasn't resolved through the FOS - HFC offered a refund directly.

Do I write back to them saying - no I want my refund paid back to me directly or do I go straight to the Ombudsman??

Thx

I would first ask the Ombudsman advice on it as there is a waiting queue of about 18 months for complaints although don't know how this one falls as the offer has been made???

If they cannot help or say it has to go into the queuing system then I would write back(probably worth doing first actually as they may change their mind) quoting the "treating customers fairly" from the FSA and say you would like it paid by cheque for the amounts you have actually been out of pocket by and the remainder taking off the loan and the loan redone. Tell them you have been deprived of the monies to do as you wish with.