Written by John Kruse, one of the leading experts on Bailiff Law, this consumer friendly guide is essential reading for anyone who comes into contact with a bailiff.
The book is easy to understand and clearly explains the rights
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received letter from BOS admitting mis-selling etc
in the long winded letter it states when i settled the loan in 2006 the amount owed inc PPI was £7880 ...the amount owed if PPI taken off was £6540 , they say they have already refunded the difference £ 1340 to me
then further in letter it says cheque of interest of £675 will be sent in 14 days
im confused , cant speak to anyone until tomorrow as no answer from BOS but anyone a idea of if this means i will be receiving a cheque of BOTH the difference ( £1340 ) and the interest (£675) or just the interest ????????
if they saying i overpaid £1340 at the time of settling the loan as explained above then surely im owed this amount aswell as the interest ???
I believe what they are saying is: when you settled the loan (presumably early) they refunded the £1340 as a rebate on the PPI and the loan.
What they are now offering IMO is the PPI payments made and the interest on the payments.
However, before you accept make sure you get clarification on what the £675 is for!!
You should check out how many PPI premiums you paid, add them up, add their contractual interest and you should also be entitled to statutory interest at 8% if the PPI was mis-sold and it appears it was for the BOS to be offering a refund.
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.
what i dont understand tho is the bit about refunding the difference already , saying when i paid off the loan early i paid it with the added PPI on so surely im owed the difference now they admit mis-selling ??
i never received any payment before from BOS so im hoping i get the difference of £1340 plus the interest stated in the letter
Do you think then im owed the differnce , i paid the loan off with the PPI added and BOS have calculated what i would have paid if no PPI added on and thats when they came up with the £1340
am i entitled to this amount PLUS the interest payment stated in the letter ??
The Policy cost should be on the loan agreement if it is more than the £1340 then yes you should also have this difference back plus interest at the rate they charged you.
so what your saying is when i speak to BOS in the morning i should expect them to tell me the cheque will be made up of the £1340 plus the figure of interest stated in the letter ???
Nope what im saying is the chances are that your PPI policy cost more than the £1340 they rebated because you settled early.
They kept some of the PPI policy cost for the time the loan was running so you need to find out what the total PPI cost was because the chances are they they owe you the difference between the policy cost and the £1340.
Redress from Bank Of Scotland
admitting mis-selling etc
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