Firstplus wont pay Ombudsman award

Killick

The Financial Ombudsman ordered Firstplus to pay me £200 compensation after my PPI claim was upheld, they refused to pay up and haven't done to this day,
I'm about to pay off my final payment to Firstplus and I'm seriously considering withholding that £200 and informing them that as they were told to compensate me for this amount and refused, I'm taking it off my final payment.
Any thoughts on this anyone?

[Deleted User]

Sue them for it.

Thrugelmir

The 2 events are unrelated. So you'll need to deal with them independently. There's no right of offset.

[Deleted User]

Killick wrote: »

I'm seriously considering withholding that £200 and informing them that as they were told to compensate me for this amount and refused, I'm taking it off my final payment.

A very unwise action, which will just result in debt collectors and the destruction of your credit rating.

magpiecottage

Was it an Ombudsman or an adjudicator who awarded it?

sourcrates

Killick wrote: »

The Financial Ombudsman ordered Firstplus to pay me £200 compensation after my PPI claim was upheld, they refused to pay up and haven't done to this day,
I'm about to pay off my final payment to Firstplus and I'm seriously considering withholding that £200 and informing them that as they were told to compensate me for this amount and refused, I'm taking it off my final payment.
Any thoughts on this anyone?

Obvious question, why have you not told the FOS they haven't paid you ?.
The FOS are the statutory dispute-resolution scheme set up under the provisions of the Financial Services and Markets Act 2000 by parliament.

If a company is non compliant with an FOS decision, then the regulator can fine them.

Buzby

You have no right of set-off, so don't consider this. A SC action is the way to go.

Killick

magpiecottage wrote: »

Was it an Ombudsman or an adjudicator who awarded it?

It was an Ombudsman

Killick

sourcrates wrote: »

Obvious question, why have you not told the FOS they haven't paid you ?.
The FOS are the statutory dispute-resolution scheme set up under the provisions of the Financial Services and Markets Act 2000 by parliament.

If a company is non compliant with an FOS decision, then the regulator can fine them.

The simple answer is: I was wrapped up dealing with what were, at the time, more important and urgent issues involving family.. Now those issues are sorted out.

Killick

Moneyineptitude wrote: »

A very unwise action, which will just result in debt collectors and the destruction of your credit rating.

Thanks for the advice. My credit rating is shot to hell anyway but I hear what you say.

magpiecottage

I presume you sent the acceptance back to FOS in time.

When was it awarded?

Despite what Thrugelmur says, there IS a right of Set Off. However, to do that you would need the bank to be insolvent.

That said, going back to FOS would seem the easiest move for you at present.

However, an award by an Ombudsman, is legally binding on the firm if a written acceptance from the complainant is received by FOS within the specified time limit.

That in turn means if you are in England or Wales and used MoneyClaim Online, you would pay a fee of £35 for this amount and it would be added to the debt along with interest (if you specify it) at 8% per annum simple. Three weeks after doing so, you would be able to get a judgment entered against the bank.