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lukeyboy1

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Everything posted by lukeyboy1

  1. It took from May -> Feb. They initially rejected my complaint. I referred to the ombudsman and then they made me an offer which I accepted. Good luck, don’t give up!
  2. Creation card PPI reclaim success - 3k paid back: https://www.consumeractiongroup.co.uk/forum/showthread.php?484791-Creation-CC-PPI-Success-*3k*
  3. I complained to Creation and just confirmed that I've had a payout of just over 3k from them in relation to PPI. Had to escalate to the ombudsman, but just received the cheque today, happy days!
  4. Update, they updated my offer to around 14.9k after tax. Paid up within 28 days, and I'm a happy man!
  5. I've a feeling I'm snookered, as I've moved house since then and don't look to have a note of the accout numbers. Darn it.
  6. Early 2000-mid-2001 I think....
  7. I thought as much - I guess my question is - does this count as contact in regards to the debt? Will it restart the clock on it - it was a right hassle at the time, in regards to charges and stuff, I don't want that nightmare again!
  8. Hello. I've claimed via RBS and Mint via resolver.co.uk for PPI on an old RBS advanta card that I had many moons ago. I don't have any details of account numbers, and they've come back from both an SAR and my complaint letters saying that they "can't find my details". Is there any further recourse that people would recommend at this stage, or straight to the ombudsman? Thanks!
  9. Hi All. I've an old statute barred debt with a credit card with Bank of Scotland / HBOS and I'm sure that I was sold PPI as part of this. Last contact was 2007, so we're talking well over statute barred timescales. The question is - should I put in a PPI claim, or will this end up being swallowed by HBOS ( the remainder of the debt was in fact charges and interest and I told them I wasn't paying that, as it was unfair - I'd paid off what I owed them as the capital amount). Thanks in advance, lukeyboy1
  10. Lukeyboy1 vs Clydesdale Bank PPI on 3 loans - success offered £615.00 with no statements available. Happy with that!
  11. Just got this from the ombudsman - I think the existing offer will stand - not unhappy with that, to be honest, though :- ============= Dear X I hope all is well with you. Just to let you know, your complaint is no longer on hold. We’re happy with Clydesdale’s approach when calculating offers, as they take into account all the things we’d expect them to. I will now look into your offer to see if they’ve followed our general approach. In case you’re not familiar with our approach to offers - we’d expect a business to refund all the premiums the consumer paid towards the policy with the associated interest. Lastly we’d expect 8% simple interest to be paid to the consumer, if their account would’ve gone into credit if the PPI wasn’t taken out. If their offer is fair, I’ll explain why I think it is. if it isn’t, I’ll also explain why it isn’t and what Clydesdale need to do for it to be fair. I know you’ve been waiting a while for you case to be resolved, so I’ll try to have it completed by next week the latest. If you’d like to add anything further, please can you send it to me as soon as you can. Thank you for your continued patience. Yours sincerely W J adjudicator Financial Ombudsman Service
  12. See below. Still waiting for the ombudsman, as they're still talking to the Clydesdale, so I am keeping my powder dry for now and hoping for the best!
  13. - thanks for the input here. I'm told by the ombudsman that more talks are planned with the Clydesdale, and the adjudicator mentioned that these talks weren't just about my case but a number of them. This may be the root of those talks / or at least we can hope!
  14. Indeed. I've made this point on a number of occasions to the adjudicator, most recently saying this :- ----- Hello Mr Brierley, Thanks again for your time recently, and explaining the issues that are at hand. As far as our conversation goes in regards to the calculation of compensation, I've spent some time checking my calculations, and also trying to arrive at the figure that the Clydesdale offered me. From this work, I believe that the Clydesdale have calculated the sum of redress without taking into account that I've been running a balance on this credit card. In other words, they have done the following :- * Added up the PPI payments made, and given me 8% simple interest on these payments from 1997 * Reconstructed my account using these backdated sums and then paid me 8% simple interest on any credit balances that have occurred since then. Using this method of calculation, I get the following approximate sums :- A. PPI Paid : 4320.97 * Estimated figures from 1997 - Aug 2000, no statements * B. 8% Interest on PPI Payments: 5865.85 C. 8% Simple Interest on Credit Balances: 3,280.77 D. Total : 13,467.58 As you can see, this is pretty close to the offer that they've made. It is close enough, in fact, to lead me to believe that this is the basis of their calculation - I believe that their calculation is based on the assumption that the balance was paid off almost always. So - why is there such a difference in calculations? I believe that the issue is that, due to my running a balance on my credit card, I'd have mostly paid interest at the prevailing card rate of between 13.9% and 18.9% APR during this time on these PPI payments. These interest rates are as follows :- https://web.archive.org/web/20010401003426/http://www.cbonline.co.uk/interest/596.html - 2001 - 18.9% APR https://web.archive.org/web/20020805163725/http://www.cbonline.co.uk/personal/620.php - 2002 - 17.9 % APR https://web.archive.org/web/20030212212759/http://www.cbonline.co.uk/personal/620.php - 2003 - 16.9% APR https://web.archive.org/web/20040805094848/http://www.cbonline.co.uk/0,,40894,00.html - 2004 - 16.9% APR https://web.archive.org/web/20050702090925/http://www.cbonline.co.uk/0,,40894,00.html - 2005 - 18.9% APR (1.463% per month) https://web.archive.org/web/20060619180550/http://www.cbonline.co.uk/0,,40894,00.html - 2006 - 18.9% APR (1.463% per month) .... https://web.archive.org/web/20070203065429/http://www.cbonline.co.uk/0,,40894,00.html - 2008 - 18.9 % APR (1.463% per month) https://web.archive.org/web/20090318044936/http://cbonline.co.uk/personal/credit-cards/interest-rates-and-charges - 2009 - 19.9% APR .....etc.... Therefore, since I was running a balance, I'd reasonably expect to be repaid the interest paid on my card at the prevailing rate --- rather than just 8% interest. Furthermore, since I ran a balance on my card, I'd have likely paid compound interest on this amount, meaning that the compound interest I'd ended up paying on each PPI payment was undoubtedly higher. As I had mentioned before, I have rejigged the spreadsheet to calculate interest paid at this rate, roughly speaking. With this in mind, my figures (again roughly, since i don't have figures pre-sept-2000) are :- A> PPI Paid: 4,320.97 B> Interest on PPI Payments: 30,657.50 C> 8% Simple Interest on Credit Balances: 11,268.29 D> Total: 46,156.76 (As I'd mentioned before, calculating the compound interest exactly is tough and can result in some variation, reflected in some figures previously - mostly down to assumptions on the prevailing rate). For the reasons outlined above, I believe that my assertion is still valid that thelydesdale have offered me considerably less than I'm actually due. I hope that this explanation of how I arrived at these figures makes sense. ----
  15. Status update - still waiting for word from the FOS - will give them another week and contact again - hopefully some resolution soon!
  16. Hi All. I complained about a series of loans that I took out in 2010 with wonga - and they initially knocked me back. I referred it to the ombudsman, and they've just called to advise that wonga have made an offer of 2K in full and final settlement. Yaaaaas! Result! #neverAgain #paydayLoanHell
  17. My latest update is that the ombudsman is talking to the clydesdale about how they're making their calculations. According to the ombudsman, this isn't *just* my offer, but affects a number of offers. "Thanks for your email. I hope you are well. I chased my colleagues for a response to your complaint on Tuesday and have been told that the talks are still ongoing. I sincerely apologise for the delay. I do appreciate that it’s been going on longer than first expected, but please rest assured I’ll continue to chase this on a regular basis and will be in touch with you as soon as I have an update. In the meantime, if there’s anything else that you need from me, please let me know." Earlier they said the following :- "At the moment we’re still clarifying Clydesdale’s approach to your calculation and as such, I’m unfortunately not able to comment on it exactly. However, based on what I’ve seen so far, I think it’s unlikely that you’d have paid X in interest on £4320.97 of PPI premiums as I mentioned over the telephone. Once we’ve clarified the business’ approach I’ll be in a better position to answer your questions, and I’ll certainly take into account what you’ve said below."
  18. Okay - so had a call from the Ombudsman. They've got my spreadsheet and have asked Clydesdale for their calculations, and we'll see what happens.....hopefully they'll see mine as correct! fingers crossed.....
  19. FosRunningPPI v102 - june 2016 - csa forum.xls Slight difference - last 3 rows counted when they shouldn't have :- Figures are :- PPI Premiums: 4320.97 Compound interest: 26137.28 (calcd at 16.9% APR) 8% Simple Interest: 9923.64 Total: 40381.88 (Fig at 15.9 is 35.5K and at 14.9 is 31K)
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