cap 1 offer

shooby1

Hi all i have applied for my ppi back from cap 1 and been offered a good will gesture of 50% back £269 after sending the second template letter provided here.
Would you send another letter or just accept it what is the likely hood of them reviewing it? i don't want to go down the fos route as its so long and i am really in need of the money now.
Any help would be really appreciated from anyone who has been in same posistion please

di3004

shooby1 wrote: »

Hi all i have applied for my ppi back from cap 1 and been offered a good will gesture of 50% back £269 after sending the second template letter provided here.
Would you send another letter or just accept it what is the likely hood of them reviewing it? i don't want to go down the fos route as its so long and i am really in need of the money now.
Any help would be really appreciated from anyone who has been in same posistion please

Hi there shooby1, well done anyway its a great start and headway in here.:T:T
Now, if that wasn't the final decision, and of course if your not happy with the offer, you can try by writing back and requesting they reconsider, telling them your not happy with the offer as you strongly believe this was mis sold, and expect to receive the refund of the full ppi you have paid plus the interest, give them approx 14 days if you want to, then if they still do not do this in your favour, take this to the FOS.

It is entirely up to you, if there would be a huge amount of loss here by accepting the offer, then if this were me I would try taking it all the way, but the decision is yours, good luck and hope this helps you.:beer:

shooby1

thank you di AGAIN:D you are always there bless ya,
is there a template letter cos i am a bit fik i think i will push them for a bit more i was expecting around £500 but like i say i could really do with the money we are skint so wont let it go as far as the fos if i can help it the wait is a killer. If i dont accept this and push them would i be able to revert back to this offer?

di3004

shooby1 wrote: »

thank you di AGAIN:D you are always there bless ya,
is there a template letter cos i am a bit fik i think i will push them for a bit more i was expecting around £500 but like i say i could really do with the money we are skint so wont let it go as far as the fos if i can help it the wait is a killer. If i dont accept this and push them would i be able to revert back to this offer?

Hi hun and your welcome.;)

Not too sure if there is an actual letter template as such if an offer have been made, but think there are templates for 2nd stage letters on the link here.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance.

Hey your not thick hun.....:A, your doing great :T:T;).

You could just write something like for example:

Dear Sir/Madam,

Date

Account number XXXXXXXXX

Thank you for your letter dated XX/XX/XXXX in regards of an offer to my account number of XXXXXXXXX.

Unfortunately, I am not happy with the offer of £XXX.XX, this is because I believe I was mis sold the Payment Protection Insurance when this was sold to me on XX/XX/XXXX.

I am requesting that you refund me the full amount of PPI and interest I have paid into the account, or at least consider a reasonable amount to more or less what I have paid into the account of PPI, which I will be prepared to consider.

I gave you my reasons on my letter sent to you dated XX/XX/XXXX, and stand by my reasons, and would apppreciate that you consider due to my reasons of being mis sold the Payment Protection Insurance. I have been deprived of this money, so out of pocket due to this.

Please could you consider this by 14 days of this letter?

I expect to hear from you with a decision on this matter by 14 days, if you do not change your decision, I will then take this complaint to the Financial ombudsman Service (FOS) with copies of evidence I have in order for them to investigate my complaint.

Yours sincerely


Name


...............................................................................................
This is my example, hope this helps you and post by recorded delivery, good luck and please let us know how you get on, cheers.;)
Of course as you know to add their own address and your address on the letter.;)

shooby1

YOU ARE A STAR DI THANK YOU:beer:

di3004

shooby1 wrote: »

YOU ARE A STAR DI THANK YOU:beer:

Not a problem, your welcome.:beer:

Use the above letter if you want to, and change anything you want to as well if you need to, good luck.:A

marshallka

May be a good idea to include in the letter about the 8% statutory interest as a court would award for being deprived of the money too.

PaulinWeston

marshallka wrote: »

May be a good idea to include in the letter about the 8% statutory interest as a court would award for being deprived of the money too.

Definitely!!

I think you have to weigh up how "great" your need is for some of the money now (bearing in mind that it can still take weeks for the money to be returned to you) ... and waiting a bit longer to get ALL of the money PLUS interest later on... Can you 'afford' to wait? What is the 'cost' to you of the additional effort to recover the full amount?

Also - have Cap One agreed to repay you by cheque? There are many stories on here of people having the money refunded to their credit card - so you may not get the readies in your hand....

You could consider threatening Court Action... it doesn't mean you have to go through with it - (and you can still go to the FOS first) - but it might just show that you mean business!! (use the same letter but change it slightly)

di3004

Good thinking Marshallka, missed that one, cheers.:T;)