PPI Reclaiming discussion Part II

GeCon

I have received a response from the FOS, in which they suggest that the bank should:
- refund me the PPI payments and
- refund any interest charged on the premiums at the card rate.

I have collected all the information of payments made, but how do I know what interest had been charged? On some of the statements there is not even an interest rate on. Other say 18.9%, but is that not the annual rate?

???

Any help would be much appreciated.

di3004

sarahc5388 wrote: »

fell off the chair and peed........my........jammies lmao

pmsl, me too - its just as well I'm going for a shower :rotfl: :rotfl: :rotfl:

marshallka

GeCon wrote: »

I have received a response from the FOS, in which they suggest that the bank should:
- refund me the PPI payments and
- refund any interest charged on the premiums at the card rate.

I have collected all the information of payments made, but how do I know what interest had been charged? On some of the statements there is not even an interest rate on. Other say 18.9%, but is that not the annual rate?

???

Any help would be much appreciated.

Surely FOS would have written to the company as well and told them this, they should then make you the offer i think and FOS should have details of all the rates. I think this is how it works but note that someone on here has said that they have been stung by FOS not checking the calculations. You could ask the FOS for details of the APR's you paid as they will have requested these from the company i think. It may be an option.

di3004

GeCon wrote: »

I have received a response from the FOS, in which they suggest that the bank should:
- refund me the PPI payments and
- refund any interest charged on the premiums at the card rate.

I have collected all the information of payments made, but how do I know what interest had been charged? On some of the statements there is not even an interest rate on. Other say 18.9%, but is that not the annual rate?

???

Any help would be much appreciated.

Hi there GeCon, well done for the getting a good result.

I am aware the FOS will deal with this for you.
As soon as the company have agreed to go along with this, in my opinion they have no choice now really, if that is the final decision given by the FOS, the ombudsman will check this out to make sure the right amount is paid to you because they do request for all the calculations from the finance company.
However, Marshallka has left a post above to state that someone had got stung due to the FOS not checking this, I would do what Marshallks recommends, and defo get in touch to be reassured of this.

I remember I worried about this but it does get sorted out hun and it will be made sure that not a single penny is forgotten.;)

GeCon

marshallka wrote: »

Surely FOS would have written to the company as well and told them this, they should then make you the offer i think and FOS should have details of all the rates. I think this is how it works but note that someone on here has said that they have been stung by FOS not checking the calculations. You could ask the FOS for details of the APR's you paid i suppose. May be an option.

Yes, I believe that the bank will be sending me their calculation. I would just prefer to be able to work it out myself too to double-check.

di3004

GeCon wrote: »

Yes, I believe that the bank will be sending me their calculation. I would just prefer to be able to work it out myself too to double-check.

It should do no harm into requesting the calculations for your purpose hun.;)
Give them a ring, good luck !;)

Di.
x

di3004

I won't be long, need a quick shower, and "I will be Back".......:D :j

di3004

Have you all gone to bed ?

If so night folks, sleep well.;)

Di.
x

marshallka

tiggrae wrote: »

marshallka wrote: »

no it's definately the date the unfair early redemptions was applied - I've got a couple on the go at the moment - for 1 of them the client had already claimed mis selling but it was back in 2001 (ie prior to them coming under the FOS jurisdiction and the complaint was rejected by the FOS), but the early redemptions took place in 2003 when this particular firm was a member of the GISC and it is with an Adjudicator now.

Mine was thrown out some months ago for the same reason. I put one in for firstplus unfair settlement and waited and was then assigned an adjudicator. The next day they sent me a letter to say that it was something they could not look into as Firstplus did not come into their jurisdiction until 2005.

Firstplus were however members of GISC in November 2001 but this never entered into the equation at all. They threw mine out so it must be a case of pick and choose as mine was for the same reason and same dates.

If its not pick and choose then why did this happen to me. Did i word it wrong or something????????????? I have all my letters here and it was definately the FSA date that they went by for me and nothing to do with GISC.

If you read this Tiggrae, what did i do wrong?? I put unfair settlement. What is the wording that people have to put on their complaint forms so they don't have it thrown out like me. Should i have put on my complaint to the FOS that this was an unfair contract term instead??? If so then i think we all need to probably study law a little here. (LOL).

marshallka

Also something else to clear up on the unfair rebates things.

Who do you make the claim against??? Is it the lender of the money or the seller of the loan/PPI. ???

FOr misselling PPI i understand its the seller of the PPI but i was told (By Firstplus) that unfair rebate is against the lender...

Could Tiggrae please confirm any of this....

Thanks in advance