When Banks don't Act on FOS Findings

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  • pmduk
    pmduk Posts: 10,655 Forumite
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    masonic wrote: »
    They surely know the formula for calculating interest. There are just 3 variables: interest rate, balance and number of days; two are fixed so I guess they can't work out how many days interest you are entitled to receive.

    They'll probably need to employ a consultant to work a calendar for them!
  • Cotta
    Cotta Posts: 3,667 Forumite
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    And on we go, what should I do on the below? I know there is a risk of a smaller offer.


    Dear Cotta,

    As your case has been so complex I am considering sending it to the Ombudsman's office - can you advise today if this meets with your approval?

    Regards
    FOS
  • eskbanker
    eskbanker Posts: 31,066 Forumite
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    Perhaps worth asking why she considers this necessary at the eleventh hour?

    I know that this has been suggested frequently on here as a way of unblocking things and getting a decent resolution in the absence of the adjudicator apparently being able to deliver it, but now that a deal is on the table (subject to clarifying the interest issue) it's not clear what she'd expect to achieve by doing this?
  • IanManc
    IanManc Posts: 2,085 Forumite
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    Cotta wrote: »
    And on we go, what should I do on the below? I know there is a risk of a smaller offer.

    Dear Cotta,

    As your case has been so complex I am considering sending it to the Ombudsman's office - can you advise today if this meets with your approval?

    Regards
    FOS

    I think that I would ask "Why are you considering sending my case to the Ombudsman's Office now when you have actively resisted that course of action for many weeks?".
    eskbanker wrote: »
    Perhaps worth asking why she considers this necessary at the eleventh hour?

    I know that this has been suggested frequently on here as a way of unblocking things and getting a decent resolution in the absence of the adjudicator apparently being able to deliver it, but now that a deal is on the table (subject to clarifying the interest issue) it's not clear what she'd expect to achieve by doing this?

    Maybe TSB are now trying to back out of the "deal" that the adjudicator previously thought they had agreed?

    This saga is beyond parody. :(
  • Cotta
    Cotta Posts: 3,667 Forumite
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    IanManc wrote: »

    Maybe TSB are now trying to back out of the "deal" that the adjudicator previously thought they had agreed?

    This saga is beyond parody. :(


    That crossed my mind too and the adjudicator has said it is not her role to negotiate a settlement between the TSB and myself.
    I have said that before I can make a final decision I will need the final package to be clearly outlined to me as the moment TSB are struggling on the interest amount to pay.
  • pmduk
    pmduk Posts: 10,655 Forumite
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    Have you attempted to work out the interest amount due yourself? It might save a couple of months (at least).
  • Cotta
    Cotta Posts: 3,667 Forumite
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    pmduk wrote: »
    Have you attempted to work out the interest amount due yourself? It might save a couple of months (at least).

    Roughly £56. But there is a lot of silliness going on e.g. should I get interest on interest? Even though that would push me over the £1500 cap? Also the adjudicator is now not sure if the amounts over £1500 should be taken into account or dismissed and rolled up into the £500 compensation.
  • Silver_Queen
    Silver_Queen Posts: 824 Forumite
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    If I were you, I would just let her escalate it to the ombudsman in hopes that you'll get someone who's actually competent. At least that way it'll be dealt with once and for all. For me, that would be worth the risk of a potentially smaller payout.
    Debt Totals July 2019::
    [STRIKE]£350 Natwest Credit Card [/STRIKE]/ ]Now £0 (paid off and closed 04/2017) £15,500 postgrad loan from parents/ Now £7,000 £5,000 sister loan/ Now £0[STRIKE]£500 train ticket loan from parents [/STRIKE]/ Now £0 (paid off 16/02/18)[STRIKE]£2,000 Overdraft[/STRIKE] Now £0 (paid off 09/03/18) £1,967.83 Barclays 0% card Now £0     Total £7,000
  • masonic
    masonic Posts: 23,278 Forumite
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    edited 18 December 2018 at 7:21PM
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    Cotta wrote: »
    That crossed my mind too and the adjudicator has said it is not her role to negotiate a settlement between the TSB and myself.
    Her role is to reach a decision and let either party decide whether to accept it or refer it upward..

    Ask her to issue her decision (as stated to you) and give TSB the opportunity to refer it to an Ombudsman, if they don't agree with it. If TSB wants to risk this debacle entering the public domain, more fool them! It would be better for your case if it was not escalated at your request.
  • pmduk
    pmduk Posts: 10,655 Forumite
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    masonic wrote: »
    Ask her to issue her decision (as stated to you) and give TSB the opportunity to refer it to an Ombudsman, if they don't agree with it. If TSB wants to risk this debacle entering the public domain, more fool them! It would be better for your case if it was not escalated at your request.


    I think this is the ideal solution. Has the adjudicator ever worked for TSB? I've had the impression at times she must be on secondment from them.
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