PPI and Court

[middenmess]

Re: PPI and Court

In my view, the offer sent to you is in line with our usual guidance as explained in my letter dated 20 September 2010 and also fair and reasonable.

Read more at: PPI and Court - Page 12 - Legal Beagles Consumer Forum

''In my view''--I don't pf is interested in his view.

''fair and reasonable'--is a million miles from ''correct and exact''

reasonable [ˈriːzənəbəl]adj1. showing reason or sound judgment
2. having the ability to reason
3. having modest or moderate expectations; not making unfair demands
4. (Business / Commerce) moderate in price; not expensive
5. fair; average reasonable weather

[Turboman]

Re: PPI and Court

Right Pf

Slow down--keep calm
Everyone else -- no more tunes/photos or simple messages of supporrt

We are at the sharp end now and need to focus on info in a few posts

The Fos have commented today that
1-they do not deal with DSAR
2-they think the offer was reasonable
3-they want PF to tell them the timeframe you want to extend their particular "deadline"

I presume that you have not contacted Co-Op successfully ??

Two issues then:

FOS

Reply to them with illustration on why they are wrong in saying that they believe that Co-Op have followed the guidelines (refer to the old letter which they say it is not up to them to understand the sums !!!

Then as an illustration-we'll concentrate on JUST LOAN 1 which is easy to explain the difficiency in their offer in simple English Prose without the aid of spreadsheets.!!

Then-we ask them to explain why they think its right
and tell them the timeframe required to accept/ the offer be extended to14 days after full compliance with the DSAR (which is only asking for simple statements)

Co-OP

Keep up a civil relationship & conversation with Co-Op via phone-frequent fax & reminders that the timeframe is effectively 40 days


Later tonight--I will draft your reply to FOS for tomorrow, hopefully Bill & Marshy will verify /edit if neccessary by 10:00am

Turbo

[pompeyfaith]

Re: PPI and Court

I presume that you have not contacted Co-Op successfully ??

I have not phoned the bank yet, was going to do it this afternoon but my wife hurt her back so had to take her to the hospital.

Thats not a great issue though as they have now had time to read those letters and I will phone them in the morning.

PF

[di30]

Re: PPI and Court

Sorry to hear about your wife PF, hope she will be okay.
------------------------------- merged -------------------------------

xxxxx

Sorry was meant to post up on this earlier Turbo, these little doggies are so lovely, they look well behaved too. X

[pompeyfaith]

Re: PPI and Court


Here you go the first one that I have gained a signature for.

[pompeyfaith]

Re: PPI and Court

Right Pf

Slow down--keep calm
Everyone else -- no more tunes/photos or simple messages of supporrt

We are at the sharp end now and need to focus on info in a few posts

The Fos have commented today that
1-they do not deal with DSAR
2-they think the offer was reasonable
3-they want PF to tell them the timeframe you want to extend their particular "deadline"

I presume that you have not contacted Co-Op successfully ??

Two issues then:

FOS

Reply to them with illustration on why they are wrong in saying that they believe that Co-Op have followed the guidelines (refer to the old letter which they say it is not up to them to understand the sums !!!

Then as an illustration-we'll concentrate on JUST LOAN 1 which is easy to explain the difficiency in their offer in simple English Prose without the aid of spreadsheets.!!

Then-we ask them to explain why they think its right
and tell them the timeframe required to accept/ the offer be extended to14 days after full compliance with the DSAR (which is only asking for simple statements)

Co-OP

Keep up a civil relationship & conversation with Co-Op via phone-frequent fax & reminders that the timeframe is effectively 40 days


Later tonight--I will draft your reply to FOS for tomorrow, hopefully Bill & Marshy will verify /edit if neccessary by 10:00am

Thanks TM I will be at the PC in the morning.

PF

[marshallka]

Re: PPI and Court

Right Pf

Slow down--keep calm
Everyone else -- no more tunes/photos or simple messages of supporrt

We are at the sharp end now and need to focus on info in a few posts

The Fos have commented today that
1-they do not deal with DSAR
2-they think the offer was reasonable
3-they want PF to tell them the timeframe you want to extend their particular "deadline"

I presume that you have not contacted Co-Op successfully ??

Two issues then:

FOS

Reply to them with illustration on why they are wrong in saying that they believe that Co-Op have followed the guidelines (refer to the old letter which they say it is not up to them to understand the sums !!!

Then as an illustration-we'll concentrate on JUST LOAN 1 which is easy to explain the difficiency in their offer in simple English Prose without the aid of spreadsheets.!!

Then-we ask them to explain why they think its right
and tell them the timeframe required to accept/ the offer be extended to14 days after full compliance with the DSAR (which is only asking for simple statements)

Co-OP

Keep up a civil relationship & conversation with Co-Op via phone-frequent fax & reminders that the timeframe is effectively 40 days


Later tonight--I will draft your reply to FOS for tomorrow, hopefully Bill & Marshy will verify /edit if neccessary by 10:00am

Turbo

I think we can say that where they have quoted the rebates against the insurance for some loans they are correct (the rule 78 ones that is) BUT as regards Loan 1 we are in agreement with the redress but only cause Co-op have not verified that there was a rebate against the insurance.
I would think that they would be co-operative (pardon the pun) in asking (nicely of course) them to verify if there was a rebate against this loan as we are definately in agreement that IF there was not then this one is definately more to come back.

Like I say and will carry on saying....(sorry folks) I think they will verify with statements that this was the case. I don't want to sound negative here but I had the same problems with mine and they DID eventually send the statements and I was able to check them against what I settled and as Turbo will beable to confirm (i emailed my statement they were correct to the penny against the Stewart Calculator. The one they obviously use as when I say to the penny, they were correct to the exact penny.

On saying this I had statements and settlement dates and we are a little vague on PF's settlement dates????

[Turboman]

Re: PPI and Court

Right --drafting out the Fos letter-Marsh--stop worrying--it is vastly to our advantage if they pluck a rebate out of the air!!!)

Marshy---this is the main part of my letter for FOS to illustrate to them that Co-Op are not complying with the basic guideline that the loan must be adjusted as if PPI had not been applied---only going to use Loan 1---please check it for me

------------------------------------------------------------------------------------------------

With reference to the first Loan--ref Account 80 in Co-op Offer Letter of 24th August 2010

Date of Agreement : 9/3/1999
Date of first payment: 9/4/1999

Total Monthly payment: £132.98
Monthly Pymnt Cach Loan: £108.21
Monthly Paymnt PPI Loan: £24.77

18 Total Payments made of £132.98= £2,393.64 (Co-op letter of 24/8/2010 £2,393.56)
18 PPI Payments made of £24.77= £445.86 (Co-op letter of 24/8/2010 £445.92)

So Co-op offer £445.92 + 8% interest on each payment = £360.84 (actually only calculated up to February 2010 ) = £806.76 (as in the letter of 24/8/2010)

However,we believe that the Co-Op have concealed the final payment to close the loan (calculated by the Stewart Rule of 78 Calculator-Equal instalments site & used by Co-Op ) of £4,486

of which that part attributable to the PPI part of the agreement = £835.75( 18.63%)---further attracting 8% interest from time of settlement of 9/10/2010. This 8% amounts to £626.83 (as at 24/8/2010)

Therefore the correct refund would be £806.76 (Co-op offer) + £835.75 + 626.83) = £2,269.34
　

[Turboman]

Re: PPI and Court

Aha --Bill on line--your thoughts appreciated old mate

[Turboman]

Re: PPI and Court

OK PF--FOS reply

--------------------------------------------------------------------------------------------------
Right PF—stop worrying—remember our strategy is to get info out of Co-Op—the FOS are effectively sidelined as the Co-Op must comply with our request under the DSAR Act
However, it pays to illustrate to the FOS also why we think they are wrong and bring up the letter that they did they do not have to understand the sums ( so who’s checking on who?) ?]

[WendyB]

Re: PPI and Court

If they say they don't have to understand the sums, then either they will need to point out the legislation that says they don't, or you will need to point out the legislation that says they do. Its not enough for you to say "Oh yes you do" cos they will just say "Oh no we don't". Perhaps someone should look at the FOS's remit and see exactly what their guidelines are, and what guidelines they have on how to interpret their guidelines?? As in, when the CO-Op say they are following the FOS guidleines - what do the guidelines actually say? And where does it say that FOS have to understand the sums? Yes I know that would be the logical assumption, but you have to remember that this is an official body, a policing organisation, if you like. Since when did the words "official body" and "logical" go together in the same sentence?

[Turboman]

Re: PPI and Court

If they say they don't have to understand the sums, then either they will need to point out the legislation that says they don't, or you will need to point out the legislation that says they do. Its not enough for you to say "Oh yes you do" cos they will just say "Oh no we don't". Perhaps someone should look at the FOS's remit and see exactly what their guidelines are, and what guidelines they have on how to interpret their guidelines?? As in, when the CO-Op say they are following the FOS guidleines - what do the guidelines actually say? And where does it say that FOS have to understand the sums? Yes I know that would be the logical assumption, but you have to remember that this is an official body, a policing organisation, if you like. Since when did the words "official body" and "logical" go together in the same sentence?

Thanks Wendy--Can you run with this one for the morning Di as you know the sites

Turbo

[di30]

Re: PPI and Court

Hmmm.......have this been posted on here at all?

http://www.financial-ombudsman-probl...guidelines.htm

[di30]

Re: PPI and Court

The above link also takes you into the link here too.....
http://www.financial-ombudsman-problems.co.uk/index.htm

[pompeyfaith]

Re: PPI and Court

if they say they do not have to understand the sums then what is the point in having a calculations team? And is that not defenting the object of the fos ?