Jump to content

hermanthegerman

Registered Users

Change your profile picture
  • Posts

    95
  • Joined

  • Last visited

Reputation

25 Excellent
  1. 'In my annual report last year, I drew attention to the problems that can arise for consumers, when ombudsmen make "formulaic" awards which require firms themselves to calculate the actual amount of compensation due to the consumer. I very much welcome the board's response to my concerns. I understand that steps are being taken in this area. In particular, the ombudsmen are now making greater effort to specify the exact amount of compensation awarded - wherever they have the specific detailed information needed for this calculation.' annual report by Michael Barnes CBE to the board of the Financial Ombudsman Service 2006/2007 Shame the FOS didn't listen to their Indepandant Assessor 6 years ago On another note I'm finding some useful titbits In Ombudsmans Decisions section of FOS website.Seems the Halifax are using calculations which do not follow the FOS guidelines either.
  2. Perhaps there should have been a Consumer Redress Scheme for PPI agreed at the same time as the judicial review in 2011.It would have saved a lot of aggravation with regard to redress.
  3. Hopefully the above works.It is the original letter of settlement I had from Mbna in Dec 2009.
  4. On a break at work As I said earlier I'd had initial adjudication from Mbna via FOS in late 2009 and really wasn't happy with the calcs.Sent letter to Mbna within six month period and their reply was that was calculated correctly.Felt I had no option but to accept that as so.There were others in the same boat on CAG ,Landy for one,who is mentioned on this thread. In late 2011 I had settlement via the FOS for another MBNA account,a Virgin card.Id only paid £120 or so in PPI premiums but the contractual interest came to about 4x the premiums.It was obvious they'd calculated the redress differently.Once I had cashed that chq,I sent the query to Mbna asking why they'd calculated the redress differently in 2009 and 2011 on 2 different settlements.Then came the reply with the recalculated redress for the first Mbna card which I posted earlier. Hope this all helps
  5. Jan 17 Brandrick, Matthew Show details Good Afternoon Mr I can confirm that we have re-calculated the refund for your account ending as requested. I can confirm that the details of the refund are as follows: Total amount of PPI premiums charged since sale date: £2,537.74 Total amount of interest associated with the PPI premiums: £7,840.64 8% amount: £756.84 Less amount of refund already received: £3,210.57 Total amount payable to you (having deducted the amount of the previous refund) : £7,924.65 A cheque has been raised and will be sent to you under separate cover. We have requested the cheque is created and sent as a priority. Regards Matthew Matthew Brandrick Executive Complaints Case Manager This is the email I had from Mbna confirming recalculation.Will also post initial calculation they made in 2009 on Sunday
  6. You are right Citizen B the FOS were involved with the initial award of around 3k.Theyre we're not involved when I asked MBNA to reconsider calculations for a second time in Jan 2012.Mbna just rolled over in response to my email of that time,which was a very nice email asking them to reconsider in light if some info I had on a different claim I made.There is more to this than I have summarised in my initial post on the subject.At no time did they mention I was out of time or quote the timebar. Unfortunately I'm working now and tomorrow so can't do an I depth post with pics till Sunday but I promise I will.
  7. Will post up over the weekend if that's okay.Need to work out how to do it too.When I get them up feel free to use them as you wish,even with the FOS.
  8. Hi all, I have spent the past two hours reading this thread.Regarding Angry Cats post about Mbna not being able to count I can confirm this.In late 2009 I had settlement via the FOS of around 3k for PPI.Queried within the 6 month period but got the usual guff about being in line with FOS guidelines so basically accepted that at face value.The fact that I was still paying off the account two years or so later in Jan 2012 was really bugging me,and I sent off an email to Ian Doherty(head honcho at MBNA) asking for a recalculation.The reply stated matter would be investigated and a few days later had a letter from them stating original calculation was 8k short and cheque duly rolled up three weeks later.If it helps anyone I still have both letters so could post up. Along with many others I have been royally shafted by PPI redress over the past few years and wish I had read threads like this whilst my complaints were still at the FOS,unlike now when they are time barred.
  9. Sorry ca All i did with my claim was use a ci calculator and made a seperate page for my claim. Too thick to construct a spreadsheet
  10. So this thread does not lose track, what i am trying to say is that a claim worth say £2k two years ago is now worth £6k because of changed fos guidelines to redress/different interpretation by certain banks. Hence the title of the thread
  11. A certain bank in Chester now seems to be interpreting it that way but they are doing the calcs.Their calcs matched mine for what its worth.
  12. The reconstruction of the credit-card account, to work out what the current balance would have been (where the account remains open) – or what the closing balance would have been (where the account has been cleared or closed) – if the consumer had made the same monthly payments but without PPI. This should be calculated by deducting the PPI premiums and the interest and charges that resulted from those premiums (including those arising because the ongoing monthly balance on the credit-card account was higher than it would have been, if the consumer had made the same payments to an account without PPI).
  13. Hi ims I had a small claim through the FOS from xyz paid out after the judical review after being with the FOS for over two years. The CI portion of the claim was three times more than the premiums and was paid out.This did not happen in 2009/2010. I will look up the redress guidelines when i get chance but they have definitely changed. Just look at the successful claims thread on mse recently too.CI is being paid after going through the FOS now!!
×
×
  • Create New...