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HFC Bank 'redundancy' goodwill gesture?
Meggy13
Posts: 3 Newbie
Could I please have advice. I had credit card with HFC with ppi built in. Was knocked back by HFC (with horrible letter) when queried the mis-selling of ppi. Went to financial ombudsman and some 11 months later have had a reply stating HFC are prepared to offer me £700 for back ppi payments from the date I was made redundant. A bit strange, as HFC didn't need to do this as it was up to me to put a claim in for this and I didn't. Not sure if HFC are offering this to stop me putting in a claim for the whole period I had ppi with this credit card. FOS are phoning back in 7 days for my decision ..... They are not sure (they can't advise) whether I would lose the £700 completely if I asked them to examine whether I was missold the whole ppi 'package'. any advice please would be much appreciated
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Comments
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The FOS have offered them a chance to settle before incurring a £900 charge.
They have offered you 700. It's up to you whether you think your complaint is strong enough to get all of your premiums back.
You will probably lose the 700 if you go further.
It's your decision. If you want some money now, take it, if you think you have a strong case and could win more, refuse it.Non me fac calcitrare tuum culi0 -
As taff says, this is a goodwill gesture to avoid the FOS fee. If you still insist on the FOS looking at it, they will suffer the FOS fee and they will probably withdraw the offer. An investigation may well find no wrong doing and you end up with nothing. Or it may find you are owed more. You need to decide which is best.
Do you have any proof of how much you paid in PPI premiums?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 -
Thanks Taff for your advice.0
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No Dunstonh, I don't have proof regarding my premiums. However the card was taken out in around 1999 and balance on average was around £4000. The card since between cleared and cancelled. Thanks for your advice. I am also going thru same situation with capital one. They said no as I apparently said I signed agreement and was aware of the ppi policy. When I asked to see confirmation, they say they have no paperwork, despite card still being active as we speak. FOS is looking into it0
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