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cahoot ppi offer advice please

Santander have made an offer based only on the PPI amount and associated interest and no interest because...
'On a rolling line of credit account 8% out of pocket interest is only applied if the loan would have had a credit balance had the PPI not been included. ... This is in line with the requirements of the fos and FCA'
I believe this to be complete nonsense: I take a restitution approach with unjust enrichment. Had I had the PPI amount then I could have invested it and gained at least 8% interest.
Has anyone challenged this and been succesful?
Do you agree with me?
How do you challenge their Full and final offer? A letter first stating the argument I assume then ... FOS seem to be under pressure and likely take a while??? or... direct to county court?
I have exactly the same argument presented to me for no interest offered on my Credit Card PPI....
Any advice would be helpful...
thanks
Comments
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im not sure what your point is... the research I have done around restitution ndicates that 8 is the norm...
at least not zero...0 -
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Why is county court not recommended? I have fought and won other cases related to loans and the ppi misspelling us accepted.. I'm disputing the settlement based on restitution case law.. I would be interested to hear your views...0
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As far as I can see your concerns are costs involved??
Mine are delays by an overwhelmed appeal process...0 -
If the FOS and FCA guidelines say that you don't get interest, the firm won't pay it and a court is highly unlikely to overrule that
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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I guess i have difficulty with two elements of this: other finance companies have paid both ppi and stat int in identical circumstances so are Santander incorrectly interpreting these.
Secondly FOS and FCA GUIDELINES are simply that !!!8230; guidelines they do not take precedent over case law...0 -
Well either refer to FOS or quote the relevant case law that supports your cause
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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