Have a question when the FO says 8% interest on the OSC and DLC is it 8% on each payment or 8% of the total amount because BH have only done 8% of the total as the interest. Just need clarification please

mpenn

I would assume BH have been charging weekly int on the insurances

so the figures quoted weekly will have been added up

till when it was cancelled?

then from that date, as they are not charging you int

you are entitled to 8% stat int on the whole figure till settlement.

just a guess

or

if its being treated as a PPI reclaim.

then you are entitled to 8% from the date of each payment till settled.

diff to say.

Hmmm still not sure then, think I may have to ask the Financial Ombudman which it is so that can either accept or reject their offer.

Thanks

mpenn

Spoken to the Financial Ombudsman today and its 8% on each payment NOT 8% total. So BH owe us more than they have initially paid.

mpenn

so my second option treat as PPI

so its 8% stat int

every payment needs entering each on a new row

This first spreadsheet is the latest version of the statutory interest calculator and is used for Single Premium PPI cases. It can also be used where rollover PPI is involved, i.e. a new loan re-financing a previous one and where PPI is included in one or more loans. It can also be used for S69 redress calculation on any sum, like on a closed/frozen interest PENALTY charges claim.

StatIntSheet v101.xls

mpenn, am i reading correctly, that the financial ombudsman accepted your claim for refund of OSC and DLC from Brighthouse, and that it was upheld and Brighthouse are refunding?

I ask because I sent my spread sheets to Them at the beginning of the year and recieved a letter back stating that brighthouse isnt covered by them and they could not look at my claim,

And you fell for it...without question:lol:

And you fell for it...without question:lol:

.

i did ask here on my thread i documented every step i took? http://www.consumeractiongroup.co.uk/forum/showthread.php?439121-new-to-reclaiming-BrightHouse-Charges-and-OSC-DLC&p=4729134#post4729134

have i missed something, as no one said I was just being fobbed off at the time:?:

Update

After hours of phoning BH to find out what they were doing

we received a cheque for £2355.42 which they said was the full and final payment

- after telling them it wasn't

and getting back in touch with the Ombudman

we received another cheque for £1113.49 making a total of £3468.91

which was all the OSC, DLC,

Overpayments and 8% interest and £100 D&I.

What a nice Xmas pressie

It is worth pursing but may take a while for the right resolution peeps.

Thanks CAG for all the help.

mpenn

lala25

- We originally complained that BH has overcharged us on products

as if they are taken out on any day other than a Saturday you will pay more for the items,

this is due to the fact that BH spread the payments over 52, 104 weeks etc

when you take the contract out on say Tuesday you pay to the Saturday

and the first week so in effect you are paying 2 weeks but they only count it as one.

Then you pay a further 51 weeks. By which time you forgot that the first payment was for over a week - and BH make a nice profit.

If you question it they fob you off saying that it was the PIF (Paid in Full) amount - rubbish they are ripping you off.

Look at your contract(s)

is/are the first payments you made for more than the first week i.e 1 week 3 days.

If so complain to BH who will fob you off and give you 6 months to go to the Ombudsman.

Then complain to the FOS that they have overcharged you, and that you had to take out the OSC and DLC

as we all know they say you have to have them.

Also did you ever miss a payment - if so then your DLC and OSC should have lapsed.

If BH still continued to make you pay for them they are in breach of their own contract

which states that if you miss a payment then the OSC and DLC lapse.

We all know that when you make the missed payment you have to include the OSC and DLC and then continue paying them

- BH are not allowed to do that.

Include that and then see what the FOS says.

For us we had all the contracts etc and could prove what we were saying.

BH never responded to the FOS so it was found in our favour

and received 2 cheques from them for all the OSC, DLC, Overpayments,

8% interest from the first payment of OSC and DLC and Overpayments, and £100 for D&I.

It is worth pursing if you have the time and energy,

but it won't be quick as BH always take the maximum amount of time that is allowed for responding.

We have been pursing this for about 2 years so finally paid off.

Hope you have as much luck as we have had. If you need any assistance the peeps on here are quite brilliant

mpenn

hey well done

glad cag could help you.

marvellous win

dx

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Thankyou for your reply, and wel done on the win! the following link to my thread on here ..

http://www.consumeractiongroup.co.uk/forum/showthread.php?439121-new-to-reclaiming-BrightHouse-Charges-and-OSC-DLC

would you mind reading through it? i am at a stand still with it, as dont knnow what to do next, basically FOS wouldnt take on my claim and i dont know what to do next

Hi did you have every single contract from brighthouse since you signed up or is the fos intitled to request to see them.

you send an sar

better to start a new thread of your own

click the link