FOS Decision - Help Needed

gazza1024

I have ben trying to reclaim PPI on credit cards from HSBC. I had 2 rejections from HSBC and presented my case to the FOS to take up.

I have just received a letter saying that the FOS have upheld my complaint. They have written to HSBC to reccomend a settlement be issued tome but HSBC have not replied to them.

The letter goes on to say that the case will now be reffered to another FOS for a final decision. My question is what is the chance of the decision being reversed again in favour of HSBC? I thought once the ombudsman had made his decision it would be final. No such luck Any info would be most welcome.

di3004

gazza1024 wrote: »

I have ben trying to reclaim PPI on credit cards from HSBC. I had 2 rejections from HSBC and presented my case to the FOS to take up.

I have just received a letter saying that the FOS have upheld my complaint. They have written to HSBC to reccomend a settlement be issued tome but HSBC have not replied to them.

The letter goes on to say that the case will now be reffered to another FOS for a final decision. My question is what is the chance of the decision being reversed again in favour of HSBC? I thought once the ombudsman had made his decision it would be final. No such luck Any info would be most welcome.

Hi there

I think you should be okay here, generally in my own experience the ombudsman normally agrees with the adjudicators decision, well I have never known it to be any different to what I can recall.

The only snag you may have it that you may be waiting for a little longer, hopefully not too long though, fingers crossed.
You will be fine.:);)

gazza1024

Hi Di, Many thanks for this info. It's been a very long time already and to be honest after getting a no twice from HSBC I nearly didn't take it any further. Thanks again for the reply

di3004

gazza1024 wrote: »

Hi Di, Many thanks for this info. It's been a very long time already and to be honest after getting a no twice from HSBC I nearly didn't take it any further. Thanks again for the reply

Hi Gazza hope your well and your welcome.;)

May I ask how long you have had this complaint within the FOS?:)

gazza1024

Will have to check backon paperwork but fromabout the mid part of last year, it's been rolling on for sometime!

dunstonh

The letter goes on to say that the case will now be reffered to another FOS for a final decision. My question is what is the chance of the decision being reversed again in favour of HSBC? I thought once the ombudsman had made his decision it would be final. No such luck Any info would be most welcome.

I heard that many companies are now letting the FOS make an initial decision without providing much argument or support and then decide whether to put forward more info on appeal if the initial ruling is against them. Apparently it can be cheaper to handle complaints this way.

di3004

dunstonh wrote: »

I heard that many companies are now letting the FOS make an initial decision without providing much argument or support and then decide whether to put forward more info on appeal if the initial ruling is against them. Apparently it can be cheaper to handle complaints this way.

Interesting dunstonh, wonder if this will also help bring down the backlogs as well?

dunstonh

di3004 wrote: »

Interesting dunstonh, wonder if this will also help bring down the backlogs as well?

I think it will help companies but increase work at the FOS.

di3004

dunstonh wrote: »

I think it will help companies but increase work at the FOS.

Arh right, yes I see your point now.;)

gazza1024

Hi Guy's, An update on the above. I received a letter on Saturday from the FOS to say that HSBC had now agreed to make an offer to settle the complaint! Very happy as this has been going on for a long time now.

The letter says that they will be calculating the offer as per the terms that the FOS recomend. One thing I am a bit puzzled on though is the interest. It says it should add 8% simple interest on to each charge if there would have been a credit balance on the account. As it is a credit card there would have been a debit balance on my side would there not?

Sorry I am not the best with these things

di3004

gazza1024 wrote: »

Hi Guy's, An update on the above. I received a letter on Saturday from the FOS to say that HSBC had now agreed to make an offer to settle the complaint! Very happy as this has been going on for a long time now.

The letter says that they will be calculating the offer as per the terms that the FOS recomend. One thing I am a bit puzzled on though is the interest. It says it should add 8% simple interest on to each charge if there would have been a credit balance on the account. As it is a credit card there would have been a debit balance on my side would there not?

Sorry I am not the best with these things

Hi and well done :beer:

I get all tongue tied explaining this and will therefore get it all wrong, lol, but Maxdp posted a thread on how the FOS calculates refunds, which you may find that will be of some help, good luck.
http://forums.moneysavingexpert.com/showthread.html?t=1596473