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Bank of Scotland admit mis-selling PPI but do not want to pay
Have a preference account with Bank of Scotland, they have admitted misselling PPI. our calculation including contractual compound interest is £5,750, however today received letter from them stated they are repaying £1,921.44p as they believe that there is no interest charged on PPI premiums.
Any ideas of how I progress this. Can anybody confirm that either our thinking is correct or theirs?
Re: Bank of Scotland admit mis-selling PPI but do not want to pay
Originally Posted by Bradley68
Have a preference account with Bank of Scotland, they have admitted misselling PPI. our calculation including contractual compound interest is £5,750, however today received letter from them stated they are repaying £1,921.44p as they believe that there is no interest charged on PPI premiums. (They only believe this so they are not committing to the fact that there was no interest added to the PPI premiums) This IMO is a load of Ballhooks any bank would not dare to add ppi and forget about the interest (at least not any employee looking for a bonus on selling PPI)
Any ideas of how I progress this. Can anybody confirm that either our thinking is correct or theirs?
Appreciate any help.
Thanks
Bradley68
Hello can you post up more specific details but with the private details ommitted.
1. what is a preference account? loan or credit card ?
2. how long since this started?
3. do you have copies of the original paper work?
4. If you do not let us know and we can take it from there.
aa
I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner. ------------------------------------------------
Bank charge successes:
Halifax - Full settlement incl interest.
HSBC - Settlement, goodwill no admission of liability about 75% of claim.
RBS - Settlement, goodwill no admission of liability about 70% of claim.
2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did
PPI Successes
PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.
2 claims settled in full with LV without FOS involvement.
2 claims settled in full with HSBC without FOS involvement
PPI Claims ongoing with:
Cap one Now with the FOS
Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.
LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc
Please do not PM me for advice as it may be sometime before I can respond.
Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.
Re: Bank of Scotland admit mis-selling PPI but do not want to pay
waves to the ten guests watching this thread. Hello why not sign up for CAG?
I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner. ------------------------------------------------
Bank charge successes:
Halifax - Full settlement incl interest.
HSBC - Settlement, goodwill no admission of liability about 75% of claim.
RBS - Settlement, goodwill no admission of liability about 70% of claim.
2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did
PPI Successes
PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.
2 claims settled in full with LV without FOS involvement.
2 claims settled in full with HSBC without FOS involvement
PPI Claims ongoing with:
Cap one Now with the FOS
Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.
LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc
Please do not PM me for advice as it may be sometime before I can respond.
Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.
Re: Bank of Scotland admit mis-selling PPI but do not want to pay
Hi aa
The preference account started with a personal loan and they sent me a credit card with it and these two together they have named as a preference account. there was an upfront premium on the loan and monthly PPI payments on the card and they have upheld the complaint on miselling.
The loan was taken out in November 1999 and have the CCA document. It is the same account as Fred Bassett has so you could view that as our scanning does not work very well at all.
Re: Bank of Scotland admit mis-selling PPI but do not want to pay
Originally Posted by Bradley68
Hi aa
The preference account started with a personal loan and they sent me a credit card with it and these two together they have named as a preference account. there was an upfront premium on the loan and monthly PPI payments on the card and they have upheld the complaint on miselling. (Is they the BOS?)
The loan was taken out in November 1999 and have the CCA document. It is the same account as Fred Bassett has so you could view that as our scanning does not work very well at all.
any help would be gratefully received.
Many thanks
Bradley68
Can you give me the link to Fred Bassett thread please.
Also have look through these threads to see whether you have a valid reason to claim mis-selling.
I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner. ------------------------------------------------
Bank charge successes:
Halifax - Full settlement incl interest.
HSBC - Settlement, goodwill no admission of liability about 75% of claim.
RBS - Settlement, goodwill no admission of liability about 70% of claim.
2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did
PPI Successes
PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.
2 claims settled in full with LV without FOS involvement.
2 claims settled in full with HSBC without FOS involvement
PPI Claims ongoing with:
Cap one Now with the FOS
Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.
LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc
Please do not PM me for advice as it may be sometime before I can respond.
Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.
Re: Bank of Scotland admit mis-selling PPI but do not want to pay
aa
There final response letter has already upheld our claim for mis selling so i am a little unsure as to your response. Unfortunately I am not sure how to do link to Fred Bassett.
I am disputing their calculation after working it out they have not taken into consideration the loan side of PPI or interest on PPI payments.
Appreciate any help
Re: Bank of Scotland admit mis-selling PPI but do not want to pay
Originally Posted by Bradley68
aa
There final response letter has already upheld our claim for mis selling so i am a little unsure as to your response. Sorry about that so basically you have a win under your belt you are just unhappy with the figures being offered. Unfortunately I am not sure how to do link to Fred Bassett.
To do a link to fred basset just find his thread hightlight the link then right click copy and then paste into this thread.
I am disputing their calculation after working it out they have not taken into consideration the loan side of PPI or interest on PPI payments.
Appreciate any help
Thanks
Bradley68
Pompeyfaith is the calculations whizz see if you can get his attention for help with interest calcs.
aa
I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner. ------------------------------------------------
Bank charge successes:
Halifax - Full settlement incl interest.
HSBC - Settlement, goodwill no admission of liability about 75% of claim.
RBS - Settlement, goodwill no admission of liability about 70% of claim.
2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did
PPI Successes
PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.
2 claims settled in full with LV without FOS involvement.
2 claims settled in full with HSBC without FOS involvement
PPI Claims ongoing with:
Cap one Now with the FOS
Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.
LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc
Please do not PM me for advice as it may be sometime before I can respond.
Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.
Re: Bank of Scotland admit mis-selling PPI but do not want to pay
Hi
tried to pm pompeyfaith but no reply. OH worked out contractual interest sent letter to Bank of Scotland outling the reason for contractual intrest given them 14 days threaterned with fos or court action can you do both or one or other because FOS takes about 6 months just want to put this to bed because they've upheld the claim
any ideas
bradley68
Re: Bank of Scotland admit mis-selling PPI but do not want to pay
Originally Posted by Bradley68
Hi
tried to pm pompeyfaith but no reply. OH worked out contractual interest sent letter to Bank of Scotland outling the reason for contractual intrest given them 14 days threaterned with fos or court action can you do both or one or other because FOS takes about 6 months just want to put this to bed because they've upheld the claim
any ideas
bradley68
You are correct to ask for contractual interest they charge it to you so you should be able to claim the same back where they will have made profits on the money you paid for a product that was duff.
You have a choice here you can go to the FOS and yes it can take months but remember the FOS are upholding 90% of the complaints so the odds on you getting you full refund are high and you should also get 8% statutory interest on top. If it goes to the ombudsman he can actually get the company to award a sum for compensation for all the hassle but the amount will be for the Ombudsman to decide.
If the Ombudsman does not uphold you complaint you then still have the option to go to Court you will need to be fully prepared for this but there are other forums on the site in the legal section that will no doubt have sound advice on this.
If you decide on the Court option first you must be well prepared I say this as the banks will have a legally trained team with them. The point is they are legally trained and you will no doubt be representing yourself as a Litigant in Person (LiP).
So you could be in for a fight. CAG will give you the support you need but on the day if your claim is not upheld in Court then you cannot present your claim to the FOS.
So for the best chance of getting your dosh back FOS first with the Court action as a reserve.
Not all caggers would agree with this but in the end the decision is yours. CAG can advise but not make your decisions.
The other point is the Courts in Scotland differ from England so depending where the case would be heard is something to consider I believe in Scotland if you lose you may be liable for the costs of the bank
idainfife may be able to advise on this issue.
aa
I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner. ------------------------------------------------
Bank charge successes:
Halifax - Full settlement incl interest.
HSBC - Settlement, goodwill no admission of liability about 75% of claim.
RBS - Settlement, goodwill no admission of liability about 70% of claim.
2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did
PPI Successes
PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.
2 claims settled in full with LV without FOS involvement.
2 claims settled in full with HSBC without FOS involvement
PPI Claims ongoing with:
Cap one Now with the FOS
Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.
LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc
Please do not PM me for advice as it may be sometime before I can respond.
Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.
Re: Bank of Scotland admit mis-selling PPI but do not want to pay
HI
received letter from blair,oliver and scot (DCA) today threatening court action. I phoned them saying based on the amount owed on PPI they could potentially owe me money depending on the outcome and therefore what dca could I get to collect the outstanding ppi refund from them? I informed them that I have given Bank of Scotland 14 days to reply to my letter I sent them today. They put account on hold for 14 days i also said if i am not happy with there response i will forward my complaint to the fos and asked if at that point do they still try to collect funds or put account on hold till FOS have ruled on the complaint? they said once they get a FOS compaints reference number they put account on hold which could be a long time.
bradley68
Re: Bank of Scotland admit mis-selling PPI but do not want to pay
Originally Posted by Bradley68
HI
received letter from blair,oliver and scot (DCA) today threatening court action. I phoned them saying based on the amount owed on PPI they could potentially owe me money depending on the outcome and therefore what dca could I get to collect the outstanding ppi refund from them? (nice touch) I informed them that I have given Bank of Scotland 14 days to reply to my letter I sent them today. They put account on hold for 14 days i also said if i am not happy with there response i will forward my complaint to the fos and asked if at that point do they still try to collect funds or put account on hold till FOS have ruled on the complaint? they said once they get a FOS compaints reference number they put account on hold which could be a long time.
bradley68
Well if it is on a hold with the DCA until the BOS responds and they respond with a negative then. Phone the FOS get a complaint number allocated give the reference to the DCA and bang in a complaint with copies of everything sent and received so far.
The FOS will take a long while but are upholding 90% of claims for mis-selling so you could be in for a refund which should go a long way to help.
aa
I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner. ------------------------------------------------
Bank charge successes:
Halifax - Full settlement incl interest.
HSBC - Settlement, goodwill no admission of liability about 75% of claim.
RBS - Settlement, goodwill no admission of liability about 70% of claim.
2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did
PPI Successes
PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.
2 claims settled in full with LV without FOS involvement.
2 claims settled in full with HSBC without FOS involvement
PPI Claims ongoing with:
Cap one Now with the FOS
Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.
LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc
Please do not PM me for advice as it may be sometime before I can respond.
Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.
Re: Bank of Scotland admit mis-selling PPI but do not want to pay
HI
just received calculations from BOS they dont take loan PPI into consideration or contractual intrest but they've still got 13 days to reply to our letter.
bradley68
Re: Bank of Scotland admit mis-selling PPI but do not want to pay
hi
no response from Bank of Scotland even though given them an extra week! now want to do a letter before action as believe the court action route might be better as have heard fos is taking nearly 2 years and as they have already admitted miselling PPI might be better option.
Anybody got advice on putting together a letter before action and do you apply the judicial interest in the letter or just threaten it when you start court proceedings?
help bradley
Re: Bank of Scotland admit mis-selling PPI but do not want to pay
do as AA says and lodge a complaint with the fos, it will call the dogs off for a while.
My complaint for miss sold PPI against Marbles has been with the FOS for 20 months, I'm not complaining, it keeps them off my back and gives me some breathing space.
AA is also right about the court action, if you go that route and lose you cannot then use the FOS, so best use them first
9-1-07 S.A.R - (Subject Access Request) sent:o !! Lloyds and Halifax!
20-1-07 S.A.R - (Subject Access Request) sent Capital One
20-1-07 S.A.R - (Subject Access Request) sent Halifax Card Services
20-1-07 S.A.R - (Subject Access Request) sent Marbles
20-1-07 S.A.R - (Subject Access Request) sent Halifax (Birchave0's sis)
8-3-07 PPI refund Lloyds TSB Loan £1200 + £2900 off loan balance
22-5-07 Halifax *Won* £1025
23-9-07 Goldfish 8k balance written off, £2300 PPI + charges returned, no agreement
Re: Bank of Scotland admit mis-selling PPI but do not want to pay
HI
I understand what you are saying but they have already admitted miss-selling me PPI. They have refunded the premiums and 8% interest. just think lba might be quicker just dont want this hanging over me for two years as got HSBC to work on next!!
Re: Bank of Scotland admit mis-selling PPI but do not want to pay
Ah I see - it still might be worth have a phone chat with an fos advisor to see if they can offer any advice. As far as the FOS are concerned they have to refund sufficient funds to put you back in the same place as if the PPI had never been applied and that DOES include contractual interest for the duration of the loan. As they have already admittied misselling they may do what Lloyds did with me - they backed down before it even got a an adjudicator - at first contact from the FOS
If you can keep you head when all of those around you are losing theirs try parking your helicopter somewhere else
I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner. ------------------------------------------------
Bank charge successes:
Halifax - Full settlement incl interest.
HSBC - Settlement, goodwill no admission of liability about 75% of claim.
RBS - Settlement, goodwill no admission of liability about 70% of claim.
2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did
PPI Successes
PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.
2 claims settled in full with LV without FOS involvement.
2 claims settled in full with HSBC without FOS involvement
PPI Claims ongoing with:
Cap one Now with the FOS
Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.
LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc
Please do not PM me for advice as it may be sometime before I can respond.
Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.
Re: Bank of Scotland admit mis-selling PPI but do not want to pay
Hi Alanalana
Have just received this letter from fos regarding my Creation Financial Service PPI Claim. Advice on what I do next would be gratefully appreciated. I cannot find any Insurance or policy documents.
Letter as follows:
I am writing to update you on the progress we have made on the complaint about Creation Financial Services Limited. I am sorry that it has taken so long to reach this stage of our process.
I am sorry to have to tell you we are unable to investigate your complaint about Creation Financial Services Limited because the event you have complained about (the sale of your payment protection insurance policy) took place on a date before the sale of insurance policies by this firm became covered by our jurisdication and the transitional arrangements in place that can extend our jurisdication in certain circumstances do not help in this instance.
However, I am presently investigating the possibiity of raising your concerns with the underwriter of your policy, i.e. the insurance company who actually provided the cover under the policy. It would be helpful if you could provide us with any information you have on the underwriter of your policy. This may inclues copies of certificates or insurance or policy documents. Please send any documents you may have to me at the address at the top of this letter.
Unfortunately, i am unable at this point to give any indication as to whethr the underwriter has (or is willing to accept) responsibility for the sale, but I will keep you updated on a regular basis with any progress we make.
Letter ends.
Sorry to hijack this with another issue. Would appreciate any advice desperately.
Bank of Scotland admit mis-selling PPI but do not want to pay
, they have admitted misselling PPI. our calculation including contractual compound interest
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Originally Posted by Bradley68
