PPI Reclaiming discussion Part II

di3004

marshallka wrote: »

Anyone know how the FOS work out unfair rebates of PPI??????

Morning Laini, hope you have calmed a bit but must say i would still be mad..

I would be interested to know this too, cheers.:D

di3004

Regarding my complaint that was in with the FOS last year, when this was paid out, we received an email from the FOS (the person dealing with the complaint) to confirm that Nemo had not paid enough, as they were also sent a copy of the figures to the FOS so they contacted Nemo to inform them of this, they then sent a further cheque a few weeks after.;)

marshallka

tiggrae wrote: »

looks fine but not sure how you worked out the statutory interest ?

got the statutory interest using the calculator on the bank charges thing and typed in the date of the settlement and then amount of the 8845.66 etc and this came to amount put in here.

pinknico

Now that Picture is now taken over if I cancel my PPI and I think the rebate is unfair is this down to the new company and would the FOS be able to help if need be ?

marshallka

tiggrae wrote: »

the FOS don't work them out - they tell the business to work them out and it's up to you to check that you think they are correct - if not you can go back to the ombudsman and complain about the calculation

So when you put a complaint in for unfair rebate then you have to have the figures there yourself to tell the business. So what does the FOS do then?? If he tells the buiness to work them out and the business works them out as I have on the page before then what??? Surely its not left at that. Who makes the decision as to what is fair and reasonable and what is unfair??

Why do we put the complaints into the FOS if its up to us to check.??? Please explaint this a little further if you don't mind tiggrae for both Di and me. We are not understanding you here.

I think paying £8845.66 for 39 months PPI is not correct and fair. How do i prove it??? What do i ask for from firstplus..The only reason it cost this is the interest on the rest of the loan and very little rebate.

And of course rule 78 used in the settlement of the account and PPI and interest on the PPI too.

What i want to know is i paid that amount above for a PPI policy and have put in a complaint for unfair rebate as misselling was not possible for this one:rolleyes: . It actually cost me in the long run £8845.66 for this with the interest etc when it was originally £4163 and then i was rebated £91.94. What am i looking at back for unfair rebate here????

mar_ash

I sent my 1st letter to HSBC claiming PPI on a loan I had taken out, received standard speal letter, 'we have received your letter and will be in touch in 4 to 8 weeks or ask for extention if not resolved'.

Ball is rolling hopefully it should be a stike.

I will update post hopefully sooner rather than later, but I wont hold me breath.:rolleyes:

marshallka

mar_ash wrote: »

I sent my 1st letter to HSBC claiming PPI on a loan I had taken out, received standard speal letter, 'we have received your letter and will be in touch in 4 to 8 weeks or ask for extention if not resolved'.

Ball is rolling hopefully it should be a stike.

I will update post hopefully sooner rather than later, but I wont hold me breath.:rolleyes:

If they do not send a full and final response within 8 weeks you have the option of taking this to the FOS anyway.

tiggrae

marshallka wrote: »

So when you put a complaint in for unfair rebate then you have to have the figures there yourself to tell the business. So what does the FOS do then?? If he tells the buiness to work them out and the business works them out as I have on the page before then what??? Surely its not left at that. Who makes the decision as to what is fair and reasonable and what is unfair??

Why do we put the complaints into the FOS if its up to us to check.??? Please explaint this a little further if you don't mind tiggrae for both Di and me. We are no understanding you here.

I think paying £8845.66 for 39 months PPI is not correct and fair. How do i prove it??? What do i ask for from firstplus..The only reason it cost this is the interest on the rest of the loan and very little rebate.

And of course rule 78 used in the settlement of the account and PPI and interest on the PPI too.

you put the complaint to the FOS to estabished whether the refund given is fair - if they uphold your complaint the business is then asked to work out a fairer refund - there are not rules in this respect as the company are allowed to charge 'reasonable' adminstration costs (see the FSA document on fair refunds) they have to provide details of how they've calcuated it (FP always calcuate it at 78% the 22% they say are their costs) if you're not happy with that you go back to the FOS and tell them why you're not happy with it

tiggrae

pinknico wrote: »

Now that Picture is now taken over if I cancel my PPI and I think the rebate is unfair is this down to the new company and would the FOS be able to help if need be ?

don't know is the answer to that you - have you received any new terms & conditions from the company who've taken over adminstration of the loans etc. if not I'd say the existing contract terms have been transferred and therefore, you would complain to the new company and the FOS should be able to help

marshallka

tiggrae wrote: »

you put the complaint to the FOS to estabished whether the refund given is fair - if they uphold your complaint the business is then asked to work out a fairer refund - there are not rules in this respect as the company are allowed to charge 'reasonable' adminstration costs (see the FSA document on fair refunds) they have to provide details of how they've calcuated it (FP always calcuate it at 78% the 22% they say are their costs) if you're not happy with that you go back to the FOS and tell them why you're not happy with it

So then you are back in the waiting list again or with the same adjudicator.

Also what do you mean 78% - 78% of what and then 22% of what. I still don't understand this.

See my post above - a bit more detail.