PPI settlement options

dazzabell

Hi, new to this forum so forgive me if my thread has been discussed at some previous point on the forum.

I have recently been notified by the FSO that in their opinion Capital one should uphold my complaint tat the PPI on my cfredit card was misold and that they have informed capital one to this effect. The letetr goes onto explain that Capital One have three options at this stage, take advice of ombudsman and return me to a position of no financial loss, make an offer or reject advice and refer to 'an ombudsman'.

It would appear there is no easy way of working out what I would get if returned to a position of no financial loss, and I very much doubt if they make me an offer it is goingto be more than what settling in the way the ombudsman has suggested would be and my feeling is that should I get an 'offer' i should reject it and persue settlemnt to be in a position of no loss but knowing what this figure would be would clearly be helpful.

Finally what does the option of referring to an ombudsman entail as I though the 'ombudsman' as an organisation of course had already advised that my complaint be upheld?

Thanks in advance to all for any advice i get and i look forward to being active on the forums

McKneff

So, have you tried to claim, been rejected, referred it to the FOS, had a letter from the FOS to tell them to choose, one of the choices being refer it to the FOS????

Are you sure the letter is from the Financial Ombudsman Service (FOS)
In your post you refer to FSO or was that just a typo

Bearing in mind that the FSO is taking 12 to 18 months to settle claims.

And Welcome to the boards, by the way

dazzabell

Hi, thanks for reply, yeah i made complaint, capital one didnt uphold the complain so i referred to the Financial Ombudsman Service (FOS - lol) who have sent them the letter with the three options for them to make a choice on how to proceed - capital one have until the 30th november to reply to the FOS