Freedom finance Final Response

woodymeg

marshallka wrote: »

Good luck on this one woodymeg. I wonder if they will cave before FOS look into it now?? They sometimes do so lets hope that it does with yours and keep us posted.;)

Will do dont worry. have sent email and have given them till 2.30 to respond then said sending letters, its worth a try anyway.:p

di3004

Good luck and fingers crossed for you Woodmeg, you will be fine, keep at them.:beer:

woodymeg

di3004 wrote: »

Good luck and fingers crossed for you Woodmeg, you will be fine, keep at them.:beer:

Hi just abit of an update really, spoke to someone on the 9th dec but the guy who was investigating it wasnt there so i said if there was any way of discussing the offer that they made, anyway he phoned me the next morning 10th dec and said that he has spoke to finance manager and they will up their offer to £3000;) but i said that i wouldnt accept that. What i want is for the whole payments back which is around £5500.00 and i would not take any further and waiver the interest that would have been added which would have been about £1000... He said he will ask again and get back to me at latest monday morning so i said wont post complaint to FOS till i have spoken to him.
Think they are caving in Well hope they are
We will see what happens on monday!!!!!!!

marshallka

woodymeg wrote: »

Hi just abit of an update really, spoke to someone on the 9th dec but the guy who was investigating it wasnt there so i said if there was any way of discussing the offer that they made, anyway he phoned me the next morning 10th dec and said that he has spoke to finance manager and they will up their offer to £3000;) but i said that i wouldnt accept that. What i want is for the whole payments back which is around £5500.00 and i would not take any further and waiver the interest that would have been added which would have been about £1000... He said he will ask again and get back to me at latest monday morning so i said wont post complaint to FOS till i have spoken to him.
Think they are caving in Well hope they are
We will see what happens on monday!!!!!!!

Thats brilliant, I really hope they up it again:T:T.

woodymeg

marshallka wrote: »

Thats brilliant, I really hope they up it again:T:T.

I know so do I but not going to take any less on this one so if they do say no it will be in post to FOS on monday.
And again just a big thank you to everyone on here for all your help and support:A:A:A:A:A:A:A:A:A:A

dunstonh

Lets say the complaint is upheld and that you shouldnt have had single premium (we know you shouldnt and they seem to be conceding that). They dont have to refund the whole premium plus interest. They can deduct the cost of a monthly equivalent from it. An interest correct needs to be done as well.

With any offer they make, you should ask them to breakdown how they have come by that figure.

woodymeg

dunstonh wrote: »

Lets say the complaint is upheld and that you shouldnt have had single premium (we know you shouldnt and they seem to be conceding that). They dont have to refund the whole premium plus interest. They can deduct the cost of a monthly equivalent from it. An interest correct needs to be done as well.

With any offer they make, you should ask them to breakdown how they have come by that figure.

i sort of understand what you mean, didnt understand when you put "An Interest correct needs to be done"

marshallka

dunstonh wrote: »

Lets say the complaint is upheld and that you shouldnt have had single premium (we know you shouldnt and they seem to be conceding that). They dont have to refund the whole premium plus interest. They can deduct the cost of a monthly equivalent from it. An interest correct needs to be done as well.

With any offer they make, you should ask them to breakdown how they have come by that figure.

I understand what you are saying here dunstonh but that is only if you would have bought a policy from elsewhere isn't it? Don't they have to prove that you actually wanted insurance but not always the one they make compulsory (as some do!)??

dunstonh

i sort of understand what you mean, didnt understand when you put "An Interest correct needs to be done"

Sorry, spelling error. It meant to say correction. If they refund the premium paid they have to correct the extra interest you paid as well because of it.

I understand what you are saying here dunstonh but that is only if you would have bought a policy from elsewhere isn't it? Don't they have to prove that you actually wanted insurance but not always the one they make compulsory (as some do!)??

That depends on what and how you have complained. If you havent complained about having it, then correcting it to monthly premium basis as it should have been can be done. If you have complained about having it as well as being on single premium basis and they agree with you then they shouldnt factor monthly premiums into it.

marshallka

dunstonh wrote: »

Sorry, spelling error. It meant to say correction. If they refund the premium paid they have to correct the extra interest you paid as well because of it.



That depends on what and how you have complained. If you havent complained about having it, then correcting it to monthly premium basis as it should have been can be done. If you have complained about having it as well as being on single premium basis and they agree with you then they shouldnt factor monthly premiums into it.

Good pointer on the new proposals dunstonh.:beer: