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About brown1950

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  1. Sorry to tell you but the FOS rejected my calculations as per the FOS running sheet from this site and accepted Barclaycards calculations which were approx 50% less than the FOS running sheet !
  2. Thank you for your reply however as i said the FOS will not accept on a Credit Card any PPI refund calculated with compound interest. I had two recent credit card PPI claims and compound interest as calculated with your template forms were rejected by the FOS. After rejections by two FOS Adjudicators i passed one over to an FOS Ombudsman and again he rejected any compound interest redress. Despite my protests that Barclaycard compound PPI premiums the FOS Ombudsman did not agree and accepted the Barclaycard calculations were correct.
  3. http://www.consumeractiongroup.co.uk/forum/showthread.php?443589-Monument-PBP-refund-**WON-£16k!!**&p=4935529#post4935529 I notice you refer to compound interest when settlement on PPI redress is expected. Can you explain therefore that the FOS do not expect Companies to pay 'associated interest '' compounded ?
  4. UPDATE Both FOS adjudicators have now asked Barclaycard and M&S to re-calculate my compensation. Understand my files have not been passed to the Ombudsman (yet)
  5. ok put forward your argument about the compound interest /associated interest and received following replies from the 2 FOS adjudicators :- a) as you do not accept my original findings i have now passed your claim to the Ombudsman this refers to the Barclaycard claim.. b) will look into this further and come back to you. this refers to M&S claim. will let you know how this develops.
  6. Many thanks for your reply. The problem I have is I have two PPI credit card claims with the FOS :- M&S - dating back to 1991 Barclaycard - dating back to 1989 Both adjudicators are 'singing from the same sheet' and because of the way they calculate the 'associated interest' the FOS are reducing my claims by thousands of pounds. Please see my earliers posts for the explanations from the two adjudicators.
  7. Your suggestion on how best i should tackle the FOS would be appreciated.
  8. What can i present to the FOS to contradict their interpretations of associated interest (compound interest) One thing i do know is that my credit card PPI refunds do not put me back in the same position as if PPI had not been charged (as should be the case quoted by FOS on their website)
  9. And on another PPI credit card claim i have received another explanation from a different FOS Adjudicator as follows : Quote '' I can see you have sent though a calculation for the interest charged due to the PPI. As I have explained the additional interest added to your card because of the PPI will not be charged on a daily rate. Your calculations show the interest rate charged in each month as a result of the PPI. Therefore the interest should be worked out on the amount of the PPI in the balance for each particular month. As an example i
  10. How has Barclaycard calculated the 'associated interest'' of £1038.00 FOS Adjudicator has finally put in writing answes to the above :- Quote '''You told me that Barclaycard haven't refunded you the compound interest you're owed You sent me a compound interest calculator to show hom much you feel Barclaycard's refund should be on each premium. you've highlighted 3 examples of instances where this hasn't been done on Barclaycards schedule. Dec 94, Dec 20, and Mar 04. You have also included the Barclaycard purchase rate for each
  11. Sorry but i don't understand the link between bank charges and mortgage arrears ?
  12. Here is a link to a previous case which was lost in court :- http://www.consumeractiongroup.co.uk/forum/showthread.php?440434-Orge-Vs-Barclays-Woolwich-Arrears-Charges
  13. UPDATE FOS Adjudicator has rejected my claim. Despite asking Barclaycard 5 times and the FOS 8 times i still await an answer to the following questions :- How has Barclaycard calculated the 'associated interest'' of £1038.00 As my PPI premiums attracted 'compound interest' at what rate was the associated interest refund calculated.? Herewith are examples of the Barclaycard redress :- 1.3.94 PPI premium paid £2.00 - Barclaycard associated interest refund = £0.78 - Barclaycard purchase interest rate in March 1994 was 18.10% - I calculate compound interest refund shoul
  14. The law on Penalties after Parking Eye v Beavis was clarified yesterday in the Supreme Cout. This gave the Supreme Court the first opportunity to review the law on penalties since the famous case of Dunlop Pneumatic Tyre Co v New Garage (1915) Following yeterdays hearing which agreed and allowed Parting Eye to charge £85.00 penalty fees it looks like The Unfair Terms in Consumer Contract Regulations (1999) UTCCR and its successor The Consumer Act 2015 are now 'blown out of the water' and are done away with at a stroke of a pen. I don't know how this will effect your case with Barc
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