Confused by FOS Letter

Julesiep

Sorry if I sound really silly. I got a letter yesterday dated 22nd July which says HSBC would like to make an offer as a gesture of goodwill and that they will be writing to explain the precise terms. What confuses me is I have 14 days to accept the offer but that HSBC can take up to 8 weeks to calculate the offer. So I will be accepting the offer without knowing what it is but am assuming it will be what it should be based on FOS calculations. As I am in a DMP I have no idea what I am accepting as the letter provides me with no explanation how to work it out in this situation. Do I just agree and hope for the best?

di3004

Julesiep wrote: »

Sorry if I sound really silly. I got a letter yesterday dated 22nd July which says HSBC would like to make an offer as a gesture of goodwill and that they will be writing to explain the precise terms. What confuses me is I have 14 days to accept the offer but that HSBC can take up to 8 weeks to calculate the offer. So I will be accepting the offer without knowing what it is but am assuming it will be what it should be based on FOS calculations. As I am in a DMP I have no idea what I am accepting as the letter provides me with no explanation how to work it out in this situation. Do I just agree and hope for the best?

Hiya

First of all well done!:beer:

Did the FOS actually explain if HSBC are going to put you back in the position as if no ppi?
That can also come under the "terms offer" and maybe they have not accepted liability as such but are still prepared to refund you as if you not had ppi.

Generally if your on a payment plan, it's possibly they may refund the award towards the debt, anything remaining plus interest will normally be awarded directly to you.

I would give the FOS a ring tomorrow, speak to them directly on your query, good luck.;)

worldsnooker147

hi, i received the same letter a few days back, stating gesture of goodwill and will receive an offer through the post from hsbc shortly and have 14 days to accept or refuse to the FOS,etc etc, i wonder how long before i get their actual offer through???

di3004

worldsnooker147 wrote: »

hi, i received the same letter a few days back, stating gesture of goodwill and will receive an offer through the post from hsbc shortly and have 14 days to accept or refuse to the FOS,etc etc, i wonder how long before i get their actual offer through???

I am not too sure here, as every bank differs on how they deal with these matters, I don't suppose there's any harm done if you contacted HSBC though to make sure.;)

tifosi

FOS do say that if you accept but have a problem with the calculation at a later point they will look into it

Why_oh_why

I don't know if it's any help but I have been going through this stage for a few months (I'm claiming against loans.co.uk). After several phone calls with FOS they convinced me that the agreement that needed signing was only to state that we were happy that the standard calculation was to be applied.

I was told (as I have argued this several times) that if the amount offer then received is not right, we can then go back to FOS!

mtd-142128

Hi Jules
Can I ask how long you claim has been in process??
And do you think the 14 days is from when you receive their actual offer?

Hope its sorted for you soon

I am also with the FOS for HSBC...still waiting

di3004

Why_oh_why wrote: »

I don't know if it's any help but I have been going through this stage for a few months (I'm claiming against loans.co.uk). After several phone calls with FOS they convinced me that the agreement that needed signing was only to state that we were happy that the standard calculation was to be applied.

I was told (as I have argued this several times) that if the amount offer then received is not right, we can then go back to FOS!

Hi

That does sound about right come to think of it, we've had 2 re-calculated by the FOS, one of them was over £2K short and the other £600 down, it was put right eventually, so if you are ever unsure then ask the FOS/Adjudicator.;)

Lulu41

Hi all,

I too had same letter re:Lloyds TSB claim over 2 weeks ago. No offer letter arrived so I called FOS - they told me that Lloyds had been given the opportunity to settle claims by end of August. They said because of sheer volume of claims that it may take longer than stated 2 weeks to get offer letter but shouldn't be later than end Aug.
I asked if I could still go back to FOS if I didn't want to accept offer and they said yes and that they would put a note on their system.
Don't know why they didn't just state end Aug in the first place rather than 2 weeks as a bit confusing.
Sure that if Lloyds can string it out a little longer then they will - it's 3 years this month since I sent first letter to them!;)

di3004

Lulu41 wrote: »

Hi all,

I too had same letter re:Lloyds TSB claim over 2 weeks ago. No offer letter arrived so I called FOS - they told me that Lloyds had been given the opportunity to settle claims by end of August. They said because of sheer volume of claims that it may take longer than stated 2 weeks to get offer letter but shouldn't be later than end Aug.
I asked if I could still go back to FOS if I didn't want to accept offer and they said yes and that they would put a note on their system.
Don't know why they didn't just state end Aug in the first place rather than 2 weeks as a bit confusing.
Sure that if Lloyds can string it out a little longer then they will - it's 3 years this month since I sent first letter to them!;)

Hi there

Blimey 3 years!!:eek: well that's not right that you're still waiting, have you also emailed Lloyds CEO?
[EMAIL="antonio.osorio@lloydsbanking.com"]antonio.osorio@lloydsbanking.com[/EMAIL]

On the letter I received from them it states that the FOS will not now look at complaints until the bank have been given the 16 weeks.

As there is a huge backlog, some banks have said September :eek:

Lulu41

No, I haven't, but thanks - I'll try the email. You never know!!