FOS and PPI

[The Debt Star]

FOS adjudicated PPI claim in my favour back in March. I was asked to sign their settlement form and was told Egg would be in touch with the PPI refund and calculations.

In April Egg reduced by loan by £400 PPI whereas they should have reduced it by £800. They also sent me a cheque for half of the 8% stat interest I was due.

I have gone back to the FOS asking them to review Egg's offer.

Egg have responded to the FOS standing by their calculations, save and insofar that they say i am due a further £50 reduction of PPI. I say their 'calculations' but in fact all Egg have provided is a list of figures with no key to understanding how they derived their figures.

My adjudicator is at sea and says he has to go to his superior for advice on what happens next.

My question is: What can I expect the FOS to do now?

[SpringerSpaniel]

Re: FOS and PPI

The FOS staff are not all legally qualified and have varying backgrounds and level of knowledge. They are under targets to solve cases, so sometiomes want a speedy resolution more than a correct resolution.

[SpringerSpaniel]

Re: FOS and PPI

The FOS staff are not all legally qualified and have varying backgrounds and level of knowledge. They are under targets to solve cases, so sometiomes want a speedy resolution more than a correct resolution.

[Bill-K]

Re: FOS and PPI

Totally agree, they let my bank off with forging a document because it got a little bit 'not want to go there'.

I thoroughly agree, Milly. We have to force them to 'go there,' sometimes. Soft shoes are NOT an option in the 'dress code' when dealing with the FOS. Steel toe-caps are required.

[millymollymoo]

Re: FOS and PPI

Never been impressed by the FOS.

My QC, most certainly was most unimpressed...

Okay, fairs fair, the FOS are probably of benefit to those who have straightforward simple cases but not re: cases relating to complex matters. The FOS have often been found to be probably either biased or incompetant.

At the end of the day, they (FOS) do not have sufficient time to look closely at cases and interpret general consumers badly written wordings.

Totally agree, they let my bank off with forging a document because it got a little bit 'not want to go there'.

[Bill-K]

Re: FOS and PPI

How about a math lymeric Turbo?

(12 + 144 + 20 + 3 * 4 ^ .5) / 7 + 5 * 11 == 9 ^ 2 + 0
Translated:
A dozen, a gross, and a score, plus three times the square root of four, divided by 7, plus 5 times 11, is nine squared, and not a bit more.

It b100dy is, too !!! Excellent !!!

Re: FOS and PPI

It was an American joke about maths geeks, so might explain why Turbo doesn't get it

But yeah Bill, to hell with her bike, the laptop would have been far better!

How about a math lymeric Turbo?

(12 + 144 + 20 + 3 * 4 ^ .5) / 7 + 5 * 11 == 9 ^ 2 + 0
Translated:
A dozen, a gross, and a score, plus three times the square root of four, divided by 7, plus 5 times 11, is nine squared, and not a bit more.

[Bill-K]

Re: FOS and PPI

...One of his mathematician friends remarks: "You made a really smart choice when you took the bicycle..."

LOL - Looks Like Turbo didn't get it, either. Us geeks are all the same.
Me....I'd have gone for her Hewlett-Packard full-function programmable calculator with vector-graphics.

.......once I'd found out where she hides it....!!! :beagle:

[di30]

Re: FOS and PPI

Update: The FOS have contacted me to say that my complaint has been formally re-opened. The FOS WILL review my calcs and provided they cannot see anything wrong with them will submit them to Egg, together with a formal view in writing that the Bank should settle.

Glad to hear this TDS.
If we don't ask, then we don't get, so good on you.

[Turboman]

Re: FOS and PPI

Have edited SS to V2 (attached)

Interest Cols Added
+Validation
+Locking



This just to collect the data--we can add the clever stuff as to when we charge interest based on balances etc later on (or Bill can-pmsl)

Re: FOS and PPI

Hey Simiantics! Did you three ever hear this one?

A Maths graduate who used to come to the university on foot every day arrives one day on a new bicycle.

"Where did you get the bike from?" his friends want to know.

"It's a thank you present", he explains, "from that girl I've been tutoring. But the story is kind of weird..."

"Tell us!"

"Well", he starts, "yesterday she called me on the 'phone and told me that she had passed her Maths exam and that she wanted to drop by to thank me in person. As usual, she arrived at my place riding her bicycle. But when I had let her in, she suddenly took all her clothes off, lay down on my bed, smiled at me, and said: `You can get from me whatever you desire!'"

One of his mathematician friends remarks: "You made a really smart choice when you took the bicycle."

"Yeah", another maths wizard friend adds, "just imagine how silly you would have looked in that girl's clothes, they wouldn't have fit you."

[Turboman]

Re: FOS and PPI

Ok Bill & Paul--

Knocked this up---approx 800 entriesIi expect.



"I'm just going out,I may beaway some time"

[Paul210]

Re: FOS and PPI

Yeah - this 'multi-layering' is another complication of CC accounts, innit, Paul ? We need to try and 'mimic' what the mainframe computer does with our little Excel equivalent, don't we ?

Its definately something that can have a massive effect, I've got an idea on the theory of making it work but my excel tecchie side prob isnt upto yours and Turbo's standards so I'll leave the finer points of making everything work properly to you guys if you dont mind.

[Bill-K]

Re: FOS and PPI

Also agree, the more detailed the calcs the better.

You also need to find a way of working out how the payment is approtioned to the balance, i.e. until recently the lowest interest rate transactions were cleared first and the transactions attracting the highest interest rates such as cash advances are paid off last. This means that more than a strict pro rata % of each payment may go to certain transactions rather than simply on an oldest transaction first.

I've got a basic idea of how can work this in if you want to send over the bare bones of the SS youve got so far I'll have a play and send back for you and Bill to work your magic on.

Yeah - this 'multi-layering' is another complication of CC accounts, innit, Paul ? We need to try and 'mimic' what the mainframe computer does with our little Excel equivalent, don't we ?

[Paul210]

Re: FOS and PPI

Also agree, the more detailed the calcs the better.

You also need to find a way of working out how the payment is approtioned to the balance, i.e. until recently the lowest interest rate transactions were cleared first and the transactions attracting the highest interest rates such as cash advances are paid off last. This means that more than a strict pro rata % of each payment may go to certain transactions rather than simply on an oldest transaction first.

I've got a basic idea of how can work this in if you want to send over the bare bones of the SS youve got so far I'll have a play and send back for you and Bill to work your magic on.