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    • Helenrosie
    • By Helenrosie 12th Jul 18, 3:59 PM
    • 6Posts
    • 0Thanks
    Helenrosie
    PPI payment query
    • #1
    • 12th Jul 18, 3:59 PM
    PPI payment query 12th Jul 18 at 3:59 PM
    I've been told by Ombudsman/bank that my complaint on Bank of Scotland credit card will be upheld. When using on-line calculator to see what I'll roughly get back, it says they make "assumptions", one of them being that I haven't used my card for cash withdrawals.... which I foolishly did.

    Can anyone tell my why this would have an effect on my claim please?
Page 1
    • Nasqueron
    • By Nasqueron 12th Jul 18, 4:28 PM
    • 5,501 Posts
    • 3,392 Thanks
    Nasqueron
    • #2
    • 12th Jul 18, 4:28 PM
    • #2
    • 12th Jul 18, 4:28 PM
    If they don't have any PROOF of the transactions they have to estimate / assume based on your past behaviour. Do you have records from the period showing what you paid? Cash withdrawal will be on your statement and you'd get charged PPI on this
    • Helenrosie
    • By Helenrosie 12th Jul 18, 4:36 PM
    • 6 Posts
    • 0 Thanks
    Helenrosie
    • #3
    • 12th Jul 18, 4:36 PM
    • #3
    • 12th Jul 18, 4:36 PM
    My spending was atrocious - and I shredded most of the evidence as it came through the door... burying my head in the sand -like so many others on here. I have now totally paid off all debt I owe.
    I'm really relying on the bank having records/making assumptions on my account - the balance varied from 700 till at one point it was 9000 - shocking I know, but at least its paid now.
    They originally rejected my claim, but did refund commission due to Plevin (1924), but I took it to the Ombudsman who upheld my case.
    • dunstonh
    • By dunstonh 12th Jul 18, 5:27 PM
    • 94,567 Posts
    • 62,551 Thanks
    dunstonh
    • #4
    • 12th Jul 18, 5:27 PM
    • #4
    • 12th Jul 18, 5:27 PM
    When using on-line calculator to see what I'll roughly get back, it says they make "assumptions"
    And most of these so called calculators are useless and only exist as they were created by claims companies trying to give you big figures to encourage you to make a complaint via them.

    They are as about as useful as pension statements (which are typically understating retirement income by around half nowadays). For similar reasons. The assumptions used are set on a bias. CMCs want you to get a bigger figure (pensions are set to project a lower figure so you get more in reality than you were expecting rather than the other way around).
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • Helenrosie
    • By Helenrosie 12th Jul 18, 5:52 PM
    • 6 Posts
    • 0 Thanks
    Helenrosie
    • #5
    • 12th Jul 18, 5:52 PM
    • #5
    • 12th Jul 18, 5:52 PM
    Thank you! I'll just have to be patient and see what comes through the post.
    • Helenrosie
    • By Helenrosie 23rd Jul 18, 9:50 AM
    • 6 Posts
    • 0 Thanks
    Helenrosie
    • #6
    • 23rd Jul 18, 9:50 AM
    • #6
    • 23rd Jul 18, 9:50 AM
    Hoping a financial expert can help now... I've requested a full breakdown which they've provided as follows:

    From June 99 to Jan 18, I paid 3767.22
    But they seem to be paying on a column at the end of the spreadsheet saying "Difference Between Payments", which is 4363.86
    Compensatory Interest is 2717.44... less tax

    While I realise this is a huge amount of money, I don't know if it's right.

    I had another small refund from MBNA for 347.63, and the 8% gross interest on it is another 417.59 - i.e. the interest is more than the PPI premiums.


    Do you think I should query the Bank of Scotland Refund or should I just be grateful for what I've got?
    • -taff
    • By -taff 23rd Jul 18, 1:40 PM
    • 7,816 Posts
    • 6,317 Thanks
    -taff
    • #7
    • 23rd Jul 18, 1:40 PM
    • #7
    • 23rd Jul 18, 1:40 PM
    Is it a credit card or a loan?
    • Helenrosie
    • By Helenrosie 23rd Jul 18, 1:43 PM
    • 6 Posts
    • 0 Thanks
    Helenrosie
    • #8
    • 23rd Jul 18, 1:43 PM
    • #8
    • 23rd Jul 18, 1:43 PM
    Credit card
    • freddie2
    • By freddie2 23rd Jul 18, 2:09 PM
    • 69 Posts
    • 43 Thanks
    freddie2
    • #9
    • 23rd Jul 18, 2:09 PM
    • #9
    • 23rd Jul 18, 2:09 PM
    I have just had a successful claim for a credit card from 1994-2007.
    Figures were;
    Refund of premiums 4863.90
    Contractural interest. 7987.27
    Credit interest 4944.17
    Less tax of 988.83
    Due to me. 16847.51
    • -taff
    • By -taff 24th Jul 18, 12:58 PM
    • 7,816 Posts
    • 6,317 Thanks
    -taff
    Credit card
    Originally posted by Helenrosie

    It could be the interest that was added as a result of the PPI being added to the total figure.
    • Nasqueron
    • By Nasqueron 25th Jul 18, 9:50 AM
    • 5,501 Posts
    • 3,392 Thanks
    Nasqueron
    The resource below might help but realistically the refund process is defined and the bank would have nothing to gain by short changing you

    http://www.financial-ombudsman.org.uk/publications/technical_notes/ppi/redress.html#redresscc
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