PPI Reclaiming discussion Part II

di3004

maxdp wrote: »

Hi as far as I am aware FOS do not check figures and rely on lender to follow instructions in their letter. In my case that was not done get the lender to send you all their workings out and if you are not sure go back to the FOS and query it.:eek:

Hiya hun.;)


With mine, a case won against Nemo personal finance through the FOS when they first paid out, the ombudsman's adjudicator contacted us to say they believe we were £2K short and contacted Nemo themselves, but if I remember what had happened was we received the cheque, the FOS then requested if we could email the figures to them, they got back to us to say they were not right and the full amount was not paid out, then they requested for the full breakdown of the figures from nemo and informed them they still owed us more, so they then paid out the remainder on a separare cheque.

So basically hun, when they pay out, inform the FOS of the breakdown in calculations and they will make sure it is the correct amount being paid out to you.;)

maxdp

di3004 wrote: »

Hiya hun.;)


With mine, a case won against Nemo personal finance through the FOS when they first paid out, the ombudsman's adjudicator contacted us to say they believe we were £2K short and contacted Nemo themselves, but if I remember what had happened was we received the cheque, the FOS then requested if we could email the figures to them, they got back to us to say they were not right and the full amount was not paid out, then they requested for the full breakdown of the figures from nemo and informed them they still owed us more, so they then paid out the remainder on a separare cheque.

So basically hun, when they pay out, inform the FOS of the breakdown in calculations and they will make sure it is the correct amount being paid out to you.;)

Hi Di

Thanks for that. Barclays did not inform us that they had even settled. Two weeks after it was due my OH looked at her bank statement and two amounts had been paid in two weeks earlier:eek: Have had no breakdown at all. Have had to nag and nag FOS and barclays continued to ignore FOS. Have now heard that figures have been sent to FOS for approval so watch this space. Will put figures on here when finally settled as a warning to others:rotfl:

marshallka

di3004 wrote: »

Hiya hun.;)


With mine, a case won against Nemo personal finance through the FOS when they first paid out, the ombudsman's adjudicator contacted us to say they believe we were £2K short and contacted Nemo themselves, but if I remember what had happened was we received the cheque, the FOS then requested if we could email the figures to them, they got back to us to say they were not right and the full amount was not paid out, then they requested for the full breakdown of the figures from nemo and informed them they still owed us more, so they then paid out the remainder on a separare cheque.

So basically hun, when they pay out, inform the FOS of the breakdown in calculations and they will make sure it is the correct amount being paid out to you.;)

I always thought that the FOS checked the figures too. Thats a relief then Di.:D

di3004

maxdp wrote: »

Hi Di

Thanks for that. Barclays did not inform us that they had even settled. Two weeks after it was due my OH looked at her bank statement and two amounts had been paid in two weeks earlier:eek: Have had no breakdown at all. Have had to nag and nag FOS and barclays continued to ignore FOS. Have now heard that figures have been sent to FOS for approval so watch this space. Will put figures on here when finally settled as a warning to others:rotfl:

No problem Maxdp hun.;)

Sorry to hear of all the nagging you've had to do.......:rolleyes: , I suppose I were just lucky a to have a very help adjudicator at the FOS, I must admit the people we were under in the FOS were very good from start to finish, the only knock back was it had taken just over a year.....:rolleyes: , well worth waiting for though.:D

Good luck then hun, I will watch that space.........:beer: .

Di.
x

maxdp

marshallka wrote: »

I always thought that the FOS checked the figures too. Thats a relief then Di.:D

As a bit of extra info Tiggrae tells me that 7 out of 10 of the cases she handles through FOS the figures have been wrong. She said that they do not in her experience usually check. They just expect lender to reimburse as per their recommendations.:rolleyes:

Suppose it depends who is handling your case. Know they are very busy.:D

maxdp

See post 5092 from Tiggrae she also pm me.

marshallka

I read that yesterday from Tiggrae.:D

I am just looking back at my complaint that i put into the FOS a few months ago about the unfair settlement of my loan. I did put on the form to the FOS unfair settlement and rule 78 so i guess that is why they threw mine out as i did not just stipulate the PPI unfair rebate i actually put the whole settlement....and that is why the GISC thing was not applicable to them.

I have just read my letter that was sent out just after i had an adjudicator assigned (after waiting) in that they could not look into the matter concerned.

If i had made my complaint about an unfair rebate with FIrstplus on the PPI and my settlement was in 2003 and Firstplus were members of GISC in 2001 then it probably would of been within jurisdiction.

I did not understand until now that the reason my settlement was so high was because the premium i had was a front loaded single premium and if the loan was settled using rule 78 but the ppi was settled in a fairer method then i would not have paid so much. Rule 78 was applied to the whole settlement figure and this bought about a much higher settlement.

Firstplus knew what i was complaining about and they led me to believe my settlement was high because of rule 78 and never explained anything about this front loaded policy. Just goes to show you how much i really understood the actual policy sold to me even when i made the complaint.

What they should have explained is that because you had this front loaded policy then you are only really paying off the policy in the beginning of the loan and not much of the capital is coming off at all. If you settle early then you have not really paid anything off your loan and just paid the PPI bit and you still owe us lots of money and we are charging you interest as well on the whole amount you borrowed. That is why when you are requesting a settlement figure you are making complaints to us each time. Instead they just said that it was because of rule 78.... yeah right

Reading their policy details on the back it actually states that if you settle early the rebate will not be proportinate and the use of rule 78 will be used. (unfair or what and they got away with it:eek: ) How many of us understood RULE 78.

oh well you live and learn:D :cool:

singlep

GREAT NEWS. see FSA website. 5 motor dealers fined for misselling PPI to over 2000 customers. This is encouraging for everyone on this site.

di3004

singlep wrote: »

GREAT NEWS. see FSA website. 5 motor dealers fined for misselling PPI to over 2000 customers. This is encouraging for everyone on this site.

Thank you Singlep I will have a look now.;)

Di.:beer:

marshallka

singlep wrote: »

GREAT NEWS. see FSA website. 5 motor dealers fined for misselling PPI to over 2000 customers. This is encouraging for everyone on this site.

It almost makes me wish i had a brum brum on finance now....(can't even drive though lol)

GK Group Limited, George White Motors Limited, Ringways Garages (Leeds) Limited, Ringways Garages (Doncaster) Limited and Park’s of Hamilton (Holdings)