M & S Offer

[anney63]

Would someone kindly check these sent to me by M & S . The first 2 belong together the 3rd is a seperate account.

 

My Spreadsheets say I should be offered more.

Any Help would be appreciated

[ims21]

Without the headings for what the various figures are then we don't know what they mean.

 

Also post up your spreadsheet too.

[anney63]

Hi IMS appreciate your help. I have attached them separately as there are 2 accounts

[anney63]

2nd Account Thank You

[anney63]

They didnt give any headings on account 1 so presumed it was date then balance Calculated Interest, Interest rate used and PPI Paid

 

Account 2 date, Balance ,Calculated Interest, Rate used and PPI Paid what the last 2 cloumns are I haven't a clue

The first column on each must be thier transaction numbers I think .

[ims21]

OK...give me some time and I'll see if I can fathom it out

[anney63]

Thank You

[anney63]

Sorry IMS interest was stopped in an agreement on 19/11/2011 on number 1 account and 19/09/2011 on the number 2 account sorry should have told you earlier. I have tried to fathom out thier workings but just hit a brick wall . Cards are still running but no interest being charge as my friend reached an agreement through ill health.

[anney63]

Hi IMS wondering how things were with these workings. I have been trying all over the weekend to see where they get thier figures from . There is a gap on the no 2 account where the balance was at nil I wondered if that made a difference. I cant even fathom out 1 line. I dont really wnt to accept thier offer if its wrong I know they have been wrong before . Really appreciate your help !!

[anney63]

Hi IMS

What an idiot I am they have sent the balance on the account the interest and the PPI paid but not thier workings what they have offered is on Acc 1 PPI Charged !1244.12,Contractual interest £989.72 8 % Interest £760.43 Total 2994.27

 

ACC 2 PPI Premiums £720.09, Interest Charged on Card 581.78 8% 430.72 Total £1732.59

 

I am going to do a spreadsheet with the correct APR for each Line to see what the difference is.

 

Sorry if I have wasted your time, I might need you to look at new s/sheets

[anney63]

Good morning I have reconstructed the spreadsheets with each individual APR rather than an average as stated on thier breakdowns and still am not near thier offer acc 1 =£4113.15 as opposed to £2994.27 Offered and account 2= £2456.43 as opposed to £1732.59 offered . Should I go back to them and ask for the actual workings . The lists they sent were just of the monthly balance PPI and interest rate which I already have. The compound interest runs rather short or should I just accept it any advice would be welcome I used the Compound Interest Calculator regulatory Method

[ken100464]

Anney

 

FOS deem a request for their calculations as perfectly acceptable and if they dont give them to you then FOS will apply pressure to get them on your behalf.

 

If you are unhappy demand to see how they arrived at the figure they have offered.

[Fur]

I have had the same, and look for a thread started by I think emmtay on the same subject. They have not taken me seriously at all until I did one simple thing. Companies house search, directors home address and then s234 (not sure on number at mo) application to registrar as they did not reply to reasonable request and correspondence to the service addresses. Had to go though registrar ( as I agree for security as a bank) rather than direct (though I had very ****ed off direct replies from two directors) and they started to promise by email from reasonably senior that it would be dealt with. However they have not kept up bargain so back to registrar as it is now 18th .

[anney63]

well still no breakdown just another letter attached which ups the offer very slightly as they appear to have missed 1 months PPI

 

Do I send another requets ??

[anney63]

Can someone check my Spreadsheet for Account 2 as in my thread 4 just to make sure I have it right prior to pushing further.

[anney63]

This is list just received on one of the M & S accounts can someone advise if this is correct. They dont appear to have compounded the interest is this part of the FOS remit. Appreciate any help please before settling

[ims21]

Hi

 

Sorry you have been missed.

 

I'll try and get a look at these this evening for you.

[anney63]

No Worries IMS I know how busy you are. Would appreciate your comments

[anney63]

Any luck yet IMS ??

[ims21]

Hi anney

 

I have some quiet time this evening so will have a look then. Sorry for the delay.

[ims21]

I have put some of their figures into the spreadsheet and come up with different figures for the contractual interest that they quote.

 

I think you need to contact them and get the to tell you exactly how they have worked out the contractual interest giving the date that they calculated it to.

 

Tell them that you are not prepared to accept their offer until they have provided detailed figures that enable you to check whether the offer is correct or not. Tell them that you are not simply going to accpet their assurances that they are correct, you want to see a set of figures that can be thoroughly checked.

[anney63]

Right IMS will do this is the letter they sent with the list. Should I respond or go to FOS

[ims21]

I would respond to them first.

 

Demand that they send you something you can check.