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tifo vs Marbles (HFC)

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  • tifo vs Marbles (HFC)

    To cut a long story short, in 2004 i settled a 2,000 marbles credit card at 600 after they offered a 70% reduction.

    Fast forward to 2006/2007 and people are reclaiming penalty charges so i did the same this year. The 2,000 balance included 1,100 charges.

    HFC first offered all the charges back but no interest. I declined and passed it to the FOS.

    Then they said they took all the charges into account at the time of settlement in 2004 so i am due nothing. I disagreed with this as at the time of settlement there was no mention of any charges and i paid to settle the whole balance including them (otherwise my payment of 30% would have been less).

    HFC 'settled' two defaults at 1,400 which is 70% written off. One default they carried on maintaining.

    Now the FOS decision.

    They say HFC did take into account the charges at the time of settlement when they wrote off 1,400 (even though the two settled defaults show they did not and my payment of 600 was 30% of the 2,000). The account was shown as 0 in 2004.

    They say HFC also took into account 150 interest on charges. Bah!

    But the FOS have awarded me 300 as compensation for the default HFC maintained by mistake. Will i get this money? No ... read on.

    As HFC wrote off 1,400 and they took 1,100 charges plus 150 interest into account (thats 1,250) out of the 1,400, then they will now receive 150 out of the 300 awarded to me to make up the difference (1,400 - 1,250).

    So i will get about 150 in compensation.

    This is an incredible decision. First of all, HFC have agreed that i paid 600 out of 2,000 (which included 1,100 of penalty charges) so they could not have taken the charges into account. Secondly, i do not owe them anything now so how can the FOS give them any money from my award to make up their 'loss' that they wrote off?

    Advice please as i have taken this ahead with the FOS and same outcome.

  • #2
    Re: tifo vs Marbles (HFC)

    Have you got any of the correspondance from your initial settlement that you can post up.
    Then we can see how they offered the settlement

    From the figures you have posted it does add up.


    • #3
      Re: tifo vs Marbles (HFC)

      But, if you didn't actually pay the charges in the first place, how can you claim them back? Or am I missing the point here?
      Is no longer here


      • #4
        Re: tifo vs Marbles (HFC)

        Can I just Ask what figure were you expecting to get back in your hand?

        I just need to clrify the angle you're coming from


        • #5
          Re: tifo vs Marbles (HFC)

          this one didn't get anywhere.

          HFC now won't correspond with me and have said they'll ignore my letters etc.
          ------------------------------- merged -------------------------------
          Originally posted by PKea View Post
          Can I just Ask what figure were you expecting to get back in your hand?
          I was expecting the charges they offered to refund to me by cheque. Because they decided to offer no interest, i passed it to the FOS. At that time, there was no dispute about how they would make payment, since they'd already offered to send me a cheque.
          ------------------------------- merged -------------------------------
          the bank also misled me with the settlement which they kind of acknowledged later but that doesn't seem to matter, i.e. they said they refunded the charges before the settlement yet told me i was paying off the whole amount including them. Had they taken off the charges and told me i would have paid a lesser amount as the 30% settlement so in a way they got almost 100% out of me without me knowing it.

          there's also the unfairness of them applying charges for 26 months THEN offering to settle. While they were doing this, i wasn't able to stop them.
          Last edited by tifo; 10th March 2010, 15:43:PM. Reason: Automerged Doublepost


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