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Halifax offer after fos success help
bradders13754
Posts: 11 Forumite
Hi
I have just been given a offer from the Halifax bank of £3300 after fos voted in my favour and I am a bit confused after the fos have gone in my favour do Halifax have to issue the full amount or is the offer Likley to be a lower amount as I don't have my credit aggreements to check this but they have added a chart of amount but not the actual
Loan amounts they so don't know weather to accept it as I don't have any other evidence to send .
Any help would be great
Cheers
I have just been given a offer from the Halifax bank of £3300 after fos voted in my favour and I am a bit confused after the fos have gone in my favour do Halifax have to issue the full amount or is the offer Likley to be a lower amount as I don't have my credit aggreements to check this but they have added a chart of amount but not the actual
Loan amounts they so don't know weather to accept it as I don't have any other evidence to send .
Any help would be great
Cheers
0
Comments
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The redress calculation is defined. A refund of the premium paid plus interest. It can be different on long term credit cards as they may not hold records of the amount paid and may pay only what they can see. However, for loans, that does not apply.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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These are on loans so I guess there is no need to question the amount offered then ?
Cheers0 -
You only need to "question" the amount if you think the calculations are wrong.bradders13754 wrote: »These are on loans so I guess there is no need to question the amount offered then ?0 -
Problem is I don't know the loan amounts just wondered seeing as it is after the fos decision would the try pulling a fast one and not offer the right amount ?0
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They should send a breakdown of how the figure was achieved, so if they don't, ask them for one.Non me fac calcitrare tuum culi0
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I have a bit of a breakdown but does not say loan amount that's why I am questioning if the would give me a lower offer and cheques turned up 2 days after offer!!0
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The loan amount is not relevant since you only get a refund of the PPI you paid (plus interest).bradders13754 wrote: »I have a bit of a breakdown but does not say loan amount that's why I am questioning if the would give me a lower offer and cheques turned up 2 days after offer!!0 -
I thought the Ppi was calculated on the amount you borrow ? So wouldn't I need to know the amount borrowed ?0
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No, it's the amount you borrow plus the length of timne you pay it back. Pay it back early, you get less redress.
Ask them how they got the figure. If they are old loans, they may not have documentation [unless you supplied it] so they'll pay a typical amount [usually 1500].Non me fac calcitrare tuum culi0 -
Will phone them to moz for a break down of how they get there figures before I cash any cheques0
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