PPI and Court

[pompeyfaith]

Re: PPI and Court

Sure does lol and ill come with you as i need a break too.

[Turboman]

Re: PPI and Court

Does that mean me,Marshy & Bill I can go on holiday now PF

[pompeyfaith]

Re: PPI and Court

This is the letter I sent to Marc Davis

Mr Marc Davis
The Co-operative Bank plc
Customer Feedback
Miller Street
Manchester
M60 0AL

6th December 2010

For the Attention of Marc Davis

Dear Marc

I write in response to your letter dated 16th November 2010 and having given much thought to the contents of that letter my reply is below.

Firstly it is our intention to use the funds to clear our outstanding debt with you both the loan and current account balance and to close both savings accounts.

CLOSED LOAN ACCOUNT

I would like to first clear up the varying loan account balances which have been widely varying to say the least.

One Default notice put it at £8575.20 on the 4th December 2008.
Another Default Notice on the 5th May 2010 had a balance of the same then on the 21st May 2010 another was sent only this time the balance was £7003.08.

On a Moorcroft Debt Collection Letter it stated the amount owing as £6644.82
This is also the same on the screenshots you sent me in your last letter and is also the same closing balance on the screenshot I took online before the bank closed the account.

On your latest offer letter I notice that you say the figure is an entirely different amount of £6849.60 so which figure am I to believe?

As the first two figures appear to be wildly out and the next two have a difference of just over £200 it would appear to us that you are charging a fee for early settlement which I may add if this is the case you have not informed me of this and/or listed it as such in any letters to me.

Now as the closing balance was £6644.82 this is the amount I propose to you in full and final settlement of Loan account 089081 22449872 83 this I believe is a fair offer of settlement given that it is the balance when the bank closed the account and was also the amount Moorcroft Debt Collectors were chasing me for.

CLOSED CURRENT ACCOUNT

Our current account 089081 22449872 was also subject to debt collection by various debt collection agencies.

This action you took I have always and still maintain was vexatious and totally unjust some of the statements those debt collectors made in pursuit of a debt that never was given that you had hold of the funds to clear these was totally out of order and unlawful in many ways.

I do not hold the bank in high esteem because of this and you have done great damage to a long standing customer.

The debt collection dept said that those letters are automated and thus we are unable to stop them that statement I find hard to believe because how hard is it to remove a name and address from a mailing list not very and in any case sending my details to a debt collection agency would require manual intervention.

You knew of my medical history regarding the stroke and heart attack I had in March 2009 while my complaint was ongoing and what you did was against debt collection guidance.

Now the current account balance stands at £704.10 of this amount £360 consists of unfair charges so my offer to you in full and final settlement is £344.10 given that you have already made a charges refund in March 2007 and carried on applying those charges with out justification to me I still consider them unfair as you have never explained to me how you can justify them.

COMPENSATION

The bank has aloud this complaint to drag on for 2 and a half years far longer than was necessary the bank has withheld information, not complying to 2 SAR requests for full disclosure of information held making up excuses as you go along for your actions supplying the first loan agreement on a second request when you said you did not hold it, withholding payment history to the first loan which you have always had and given the excuse that you do not hold data for more than 6 years when it is known that data has to be held for longer than this to comply with the HMRC and money laundering regulations.

Indeed the list goes on and I am not impressed at all, the bank has also aloud the interest arrears mount up far higher than they should have done had this complaint been settled sooner than it has and has caused me to pay for your wanton mistakes.
However I am willing to forgo any offer of compensation on acceptance of the offers I make below these offers I consider to be very fair and inline with treating customers fairly.


So to sum up I will settle in full and final:

£6644.84 closing balance to the loan
£344.10 closing settlement to the current account

This is £6988.94 in FULL AND FINAL SETTLEMENT

£8136.79 Loan refunds as per letter dated 16th November 2010
Less £6988.94
= £1147.85
Plus £3.25 Deposit Account
Plus £3.15 Linked Savings

= £1154.25 due to me via CHQ

I sincerely hope this is my last letter to the Co-operative Bank Plc and that you can reflect and realise that this is a fair offer and outcome for us all.

I also request that you have my CRA files updated to remove the negative markers as they should never have been marked in such a way.

I also request they are marked to reflect that these accounts have been satisfied in full.

Yours Sincerely


Just waiting to here back now.




Not sure if I have to sign a new FOS acceptance form but I have requested a new one reflecting the latest offer be sent as soon as if they do.

[pompeyfaith]

Re: PPI and Court

Yes I have informally accepted latest offer as an increase of £700 was made on loan 1.

I now feel that I have taken this complaint as far as I can after all they denied all knowledge of Loan 1 at the start and through the brilliant help I have received from everyone here and my steadfastness I have now got what I consider A good offer on that loan.

As per Loan 9 taking into consideration the rebate of £914.20 that the bank returned to the Loan and the offer they have made on that one I feel it is about right.

The only bit I am now confused about is the varying amounts stated to settle the loan but I have made on offer to settle as per the balance on the screenshot they sent me.

The settlement on the offer letter was some £200 higher why I do not know early settlement fee maybe?

Anyway as Moorcrofts the DCA was also chasing me for the amount on the screenshot that's what I have offered if they refuse ill just tell them to pass it to a dca as they cannot charge any fees lol

All in all there offer now is a good one and to be honest I have now got to the stage where I do not want to fight anymore and just want the peace.

[Turboman]

Re: PPI and Court

We'll go back to post 620 bill & start from there-forget about Loan 1 now---earlier PF has posted everrything re Loan 9---lets look at that---but I think PF has accepted ---is that right PF?

[Bill-K]

Re: PPI and Court

Apologies from the maths geeks, PF. Marshy and Turbo have both been a bit busy with other things recently, and I've 'been away for a bit' from here. I hope we can reply in here soon with regard to the loan #9 offer being discussed currently, as we HAVE been discussing things off-thread.

Just to return to loan #1, if I may, us 3 geeks have been discussing the Loan #1 offer, and we are almost in agreement. Just so you know the state of play, and can make any further decisions, we have between us arrived at this stage:-

2 of us agree that £1540 is a fair offer, and 1 of us reckons it should be £1630, so we agree within £100.

We all agree that you should also expect compensation from them, and £400 seems a reasonable expectation. Unless the claim goes to the FOS, you will probably have to demand this, though.

Basically, I'm suggesting that you aim for £1630 + £400 compo = £2030 total, but be prepared to accept £1540 + less compo. If their offer is lower than you are prepared to accept, then you will need to decide if it is worth referring it to the FOS.

HTH, mate.

[pompeyfaith]

Re: PPI and Court

Middenmess,

I already have a complete payment history of the account which is already closed and the amount they closed it at was £6644.82. So can they expect anymore than that figure I think not.

[middenmess]

Re: PPI and Court

I will offer them the amount off £6644.84 which the amount they closed at and the amount moorcrofts were chasing for in full and final take it or leave it and that I believe to be very generous all things considered.

I'm sure that as soon as you accept the refund they will be sending you a statement showing the amount required to clear your account--why not just wait for that to arrive?

[pompeyfaith]

Re: PPI and Court

Well they have said I can have it in cash, but (lol there is always a but) I would have to sign a new agreement first this defeats the object as i do not want a new loan.

So we would have to reach a settlement which both me and the bank are in agreement with and then they sent me the balance via chq.

[nelliewops]

Re: PPI and Court

I will offer them the amount off £6644.84 which the amount they closed at and the amount moorcrofts were chasing for in full and final take it or leave it and that I believe to be very generous all things considered.

Sounds very generous to me after what you've been through PF - but still best not to rush into anything............after all you need the money back first! Will they pay it to you though or take the balance owed first? I'm only thinking that in my case with both our LTSB loans whilst there is still an outstanding balance owing, the refunds were paid by cheque to us.

[pompeyfaith]

Re: PPI and Court

I will offer them the amount off £6644.84 which the amount they closed at and the amount moorcrofts were chasing for in full and final take it or leave it and that I believe to be very generous all things considered.

[pompeyfaith]

Re: PPI and Court

Well it differs by just over £200 so you could be right and if that is the case it would be cheaper to settle it with moorcrofts

They have a cheek dont they lol

[nelliewops]

Re: PPI and Court

It could be a fee PF - I know back in the days when OH and I were flush with cash and we attempted to settle a loan with LTSB early there was a fee for doing so (£250 I think) and the girl we spoke to at the bank actually advised us to make a payment that didn't quite cover the full amount then the following month pay the remainder, thus avoiding the fee!

I wouldn't trust them an inch though and it would obviously be best to get other more expert opinions than mine :tinysmile_hmm_t2:

[pompeyfaith]

Re: PPI and Court

Guys and Marshy,

Something I cannot get straight here is the settlement on loan 9, on there first offer dated 27 Oct 08 it said balance outstanding was £7078.20.

On there latest offer it says £6849.60

The closing balance on the screenshots they sent after this it says £6644.84

On a Moorcroft Debt Collection letter it also says £6644.84 as does the screenshot I took before they closed the account.

Very confused here as to what I should be paying to clear this debt.

As Moorcrofts were chasing me for £6644.84 and the screenshots they sent me says the same surely this must be the amount and the amount on there latest offer letter is wrong?

Do you think they are charging a fee here to close the account which in effect would be early and did not go the full term?

Any thoughts on this please

[pompeyfaith]

Re: PPI and Court

Here you go Bill you will like this:

http://www.thehuntreview.org.uk/updates/FOS_Report.pdf

Its a bit out of date as it was released in 2007 but many of his findings have still to be implemented.