Refused my PPI offer

NobodyEverybody

I had a £3500 loan and PPI included against my wishes. Bank have offered £288 and I said no way. Saw an article on BBC news today that they aren't taking charges into consideration and that's my whole point. It was a 3 year loan and I bet I went over my limit by a couple of pounds some months and end up with £40+ charges. Well if say for example my PPI is £10 a month then I wouldn't have been over my limit and I think this should be taken into consideration. The ombudsman have agreed and raised a complaint with bank but the bank wouldn't even discuss it with me. Or I should say the PPI team wouldn't. A complaint has been made but am I wasting my time?

Halifax, on the other hand, gave me about £3600 back (including refunding all charges) on a £7500 loan. That's near 50%. This bank offering less then 10%. It doesn't seem fair.

Thoughts anyone?

Thanks in advance, love this site you clever people

dunstonh

It was a 3 year loan and I bet I went over my limit by a couple of pounds some months and end up with £40+ charges.

Which may be an issue with credit card or overdraft related PPI. However, loan payments are fixed and you would not have incurred charges on the loan if you made each payment. You would have to show that you could not afford that extra £10 difference (using your example). That is not as easy as it is with credit card/overdraft. Possible but not as easy.

The ombudsman have agreed and raised a complaint with bank but the bank wouldn't even discuss it with me.

if the ombudsman have agreed with you then they would not raise a complaint with the bank. I suspect what you mean is that the telephone service have agreed with your point of view and have sent a complaint over on your behalf. The telephone service always agree with what you say. It is no indication of outcome.

If you have referred your case to the FOS, then the complaints team will usually stop dealing with you as you have asked a third party to intervene. You should have raised this with the bank before the FOS. Although they may still have refused. Now you will have to wait to see what the bank and FOS say. You may well get lucky with this as the FOS will offer the bank a chance to settle without incurring the FOS fee and almost certainly the FOS fee will be higher than the refund to you if its only about the charges.