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Hi

 

I have received a letter from Zurich saying they have mis calculated my payments since 2004.

 

Giving me two options a refund + interest or keep paying what I am and increase cover

 

Can anyone send me link to interest calculator please had it on my old computer which is long gone.

 

Smiles

 

OSW

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Thanking you kindly ...

 

Just did figures based on 8% however just re read the letter they sent me and it states interest will be paid at a rate BOE rate less 0.35% until Jan 2012 and less 0.4% thereafter ???

 

 

How does this work then I thought it was 8% across the board???

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they've deprived you of your money

just like PPI they should give you 8% IMHO.

that's the FOS rules


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incidentally they should be refunding the 8% on EACH OVERPAYMENT INDIVIDUALLY from its own date too

have you a list or can you work out and fill that sheet in like you did for the PPI? for each date of each over payment?


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

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please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

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I thought this was the case =- love how these people make up their own rules the notice of the amount of interest they are going to pay is in SMALL print.

 

How many people will just fill this in and send it off

 

So how do I proceed? do I contact FOS or send it back crossed through denoting 8% should be applied? Or both

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you cant go to the FOS until you exhaust their complaints process or 8 weeks from complaint

I cant see their being anyharm in ringing the fos Tuesday and asking mind?

 

why not adapt what ive said in post 5 and inc that in the reply to zenith with a refusal


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

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WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

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they've deprived you of your money

just like PPI they should give you 8% IMHO.

that's the FOS rules

 

This post yes?

 

And don't understand this bit ..... and inc that in the reply to zenith with a refusal - Oh reply to Zurich Saying I refuse the interest rate they denote ? Because of above?

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yes

 

inc this bit too

 

they should be refunding the 8% on EACH overpayment INDIVIDUALLY from its own date when you made the over payment

have you a list or can you work out and fill that sheet in like you did for the PPIi? for each date of each over payment?


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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Also when I fill in the spreadsheet total charges read £881.85 and in their letter it says charges = £871.74

Miss calculation somewhere given they have over charged my by £5.01 every month since 03/04 then I am inclined to trust the spreadsheet.

 

According to spreadsheet

charges £881.75 interest £778.24

 

Total £1660.09

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and you entered each £5.01 individually on each date you paid it in?

 

if so sent that to them too!!

 

well done


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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Yes indeed DX

 

I'm sure you realize what I'm like if I don't do things straight away it may take me years to do them :lol:

 

In say that I have an encyclopedia at the front door response from SAR request to egg I will open that soon "honestly I will"

 

On further reading it also infers my policy will end in 2021 (review) however my policy runs till I'm 56 so they are cutting short policy by 5 years, may be reading that wrong

 

DX .... Is this OK?

 

Further to your letter dated 21st August 2018, notifying us that you have overcharged us since 2004.

 

During this time, you have deprived us of our money which has added to financial hardship, under FOS rules the interest that should be refunded should be at a rate of 8% for each individual overpayment from the date that it was charged.

 

We are attaching a breakdown of charges and interest applicable to the same at a rate of 8% for your ease.

 

We decline your interest rate and request that you recalculate your figures to reflect the correct amount of interest that has been accrued over the period that you have been over charging us,

 

I rechecked spreadsheet and had duplicated 2 months entries now much nearer the figure they stated :lol:

 

I now have £871.83 the have £871.74

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wouldn't put financial hardship.

 

the FOS clearly state ...statutory interest at 8% ...


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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Dx received an extremely prompt response from Zurich

 

Which states they will pay the 8% however only simple interest not compound

 

FOS ??

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yes that what the staint does and all you are entitled too..

you paid no extra int as it wasn't a loan..

 

you seem to getting comfused..


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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DX

 

Yes confused that seems to be a recurring event with me lately.

 

All sorted now 8% to be paid - however I dread to think how many people got the original letter and signed it not realizing the interest rate was not applied correctly and lost money because of this

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