Blemain and the FOS

new_to_the_game

Hi everyone,

Just a bit confused here on this one, took out loan in april 2006, redeemed loan in April 2007, paid £19k back on £14k loan (didnt run 12 months), got majority of PPI back via ins company and FOS assistance, but since then due to FOS calculations etc, loan should have been recalculated and redeemed on non PPI basis and therefore redemption figure should have been a lot less!!.:(

Now my issue is that after a lot of time with the FOS from last year until a recent chase up call with the FOS, they had just received the files etc from Blemain on the issues and within me making the telephone call and the FOS decision letter received the following day, the FOS have replied with the fact that due to Blemain not being attached or under the FOS wing (or whatever) they now say they can not help me any further with my issue.:mad:

Now the advice I am looking for is:-
1. Do I accept the miserly offer Blemain has offered me which is still on the table,:( or:-
2. I have battled for 3 years with them now and time is not an issue, so is there another route i could take to acheive what under the FOS guidelines on calculations etc would amount to 10 times the offer!!!!!:o

Anybody with any advice, would be very much appreciated;)

Best regards
Chris

di3004

new_to_the_game wrote: »

Hi everyone,

Just a bit confused here on this one, took out loan in april 2006, redeemed loan in April 2007, paid £19k back on £14k loan (didnt run 12 months), got majority of PPI back via ins company and FOS assistance, but since then due to FOS calculations etc, loan should have been recalculated and redeemed on non PPI basis and therefore redemption figure should have been a lot less!!.:(

Now my issue is that after a lot of time with the FOS from last year until a recent chase up call with the FOS, they had just received the files etc from Blemain on the issues and within me making the telephone call and the FOS decision letter received the following day, the FOS have replied with the fact that due to Blemain not being attached or under the FOS wing (or whatever) they now say they can not help me any further with my issue.:mad:

Now the advice I am looking for is:-
1. Do I accept the miserly offer Blemain has offered me which is still on the table,:( or:-
2. I have battled for 3 years with them now and time is not an issue, so is there another route i could take to acheive what under the FOS guidelines on calculations etc would amount to 10 times the offer!!!!!:o

Anybody with any advice, would be very much appreciated;)

Best regards
Chris

Hi Chris

This is very disappointing for you after 3 years isn't it?

Sorry to hear this.

But the FOS have suggested to many of going to the direction of the insurer/underwriter as another avenue to take, as they are also trying to make these responsible as well, where they would have some joint liability - because the applications are generally dealt with for approval by them etc,

So give the FOS a ring on the general query line, or the ones who you have been under, and ask about this direction, see what they suggest, good luck.;)

marshallka

new_to_the_game wrote: »

Hi everyone,

Just a bit confused here on this one, took out loan in april 2006, redeemed loan in April 2007, paid £19k back on £14k loan (didnt run 12 months), got majority of PPI back via ins company and FOS assistance, but since then due to FOS calculations etc, loan should have been recalculated and redeemed on non PPI basis and therefore redemption figure should have been a lot less!!.:(

Now my issue is that after a lot of time with the FOS from last year until a recent chase up call with the FOS, they had just received the files etc from Blemain on the issues and within me making the telephone call and the FOS decision letter received the following day, the FOS have replied with the fact that due to Blemain not being attached or under the FOS wing (or whatever) they now say they can not help me any further with my issue.:mad:

Now the advice I am looking for is:-
1. Do I accept the miserly offer Blemain has offered me which is still on the table,:( or:-
2. I have battled for 3 years with them now and time is not an issue, so is there another route i could take to acheive what under the FOS guidelines on calculations etc would amount to 10 times the offer!!!!!:o

Anybody with any advice, would be very much appreciated;)

Best regards
Chris

This is so annoying. How long did FOS take to tell you they cannot help in your complaint because of jurisdiction issues? This really needs sorting out at FOS.

new_to_the_game

Hi di3004 and marshallka,
Thankyou both for the reply, however the issue I have got is not with the PPI as this was 80% refunded via the insurance company a couple of years ago, my problem is with the fact thatsince the FOS have put guidelines in regarding the calculations of refunds of PPI etc, I have come to realise that the loan was redeemed prior to this and inclusive of PPI (which as I said was refunded later via the insurance company)and as this would have meant if the FOS had the authourity to go for Blemain then I reckon I would be about £3k better off in my pocket 3 years ago just on the redemption figure NOT including the PPI refund and potential 8% interest
I respect the job that the FOS has done for me in other ossues, but find this hard to understand as to how the FOS have held my file regarding Blemain since Sept/October last year (2009) and have only just decided after a telephone call to see where we were at with my complaint came to a decision that after all they could'nt deal with my complaint!.
So as you can see, if after the FOS had read my complaint after it went to an adjudicator that the FOS should have already been able to check to see if Blemain came under their jurisdiction and could have given me this info 3-4 months ago and maybe another alternative route even if this meant going legal! Thats the frustrating part.
I intend to contact the FOS and ask them their advice and whether or not they can push Blemain to forward their offer so I can at least get some refund back even though it will be no where near what I believe they have taken from me.

Anyway, thats all for now.

Best regards

Chris

di3004

new_to_the_game wrote: »

Hi di3004 and marshallka,
Thankyou both for the reply, however the issue I have got is not with the PPI as this was 80% refunded via the insurance company a couple of years ago, my problem is with the fact thatsince the FOS have put guidelines in regarding the calculations of refunds of PPI etc, I have come to realise that the loan was redeemed prior to this and inclusive of PPI (which as I said was refunded later via the insurance company)and as this would have meant if the FOS had the authourity to go for Blemain then I reckon I would be about £3k better off in my pocket 3 years ago just on the redemption figure NOT including the PPI refund and potential 8% interest
I respect the job that the FOS has done for me in other ossues, but find this hard to understand as to how the FOS have held my file regarding Blemain since Sept/October last year (2009) and have only just decided after a telephone call to see where we were at with my complaint came to a decision that after all they could'nt deal with my complaint!.
So as you can see, if after the FOS had read my complaint after it went to an adjudicator that the FOS should have already been able to check to see if Blemain came under their jurisdiction and could have given me this info 3-4 months ago and maybe another alternative route even if this meant going legal! Thats the frustrating part.
I intend to contact the FOS and ask them their advice and whether or not they can push Blemain to forward their offer so I can at least get some refund back even though it will be no where near what I believe they have taken from me.

Anyway, thats all for now.

Best regards

Chris

Hi Chris

Yes I would contact the FOS for further advice on this one, its money rightfully owed to you, they will consider some options for you I'm sure they will, please let us know how you get on, fingers crossed.

Di