Bank of Scotland ppi refund

[ticklegpz]

Hi put in a claim for missold ppi to aqua card who i believe Halifax bank are the provider of this card,and received an offer letter dated 06/03/2012 from bank of scotland

QUOTE: OUR OFFER
"As our final response, we are offering you a payment of £1654.08. This represents a refund of all the premiumspaid (inclusive of interest). plus simple interest at 8%which is then adjusted by other factors that are relevant to your ccircumstances. For example if you have made a successful claim against your ppi policy, or if you have already received a partial refund of your ppi premiums, then these will be deducted from your overall payment. A full breakdown of the calculation as at the date of this letter is shown below"

Refund of premiums £791.66
Refund of interest applied to the account because of the ppi £844.23
Interest at 8%, applied to account up until 03 April 2012 £ 18.19
TOTAL £1654.08

RECIEVED SECOND LETTER FROM BANK OF SCOTLAND DATED 12/03/2012
QUOTE
" In reference to our previous correspondence dated 06/03/2012. i must apologise that unfortunately there was an error in your redress calculation. Please see below your your revised redress calculation. Apologies for any inconvenience caused"
Again this is there "FINAL RESPONCE"

Refund of premiums £791.66
refund of interest applied to account because of the ppi £ 8.28
interest at 8% as of 04/03/2012 £172.77
TOTAL £972.71


ON BOTH HALIFAX AND BOS WEBSITES THIS QUESTION IS ASKED IN THERE FAQ PAGEShttp://www.bankofscotland.co.uk/cont...pi/?pagetabs=1

http://www.halifax.co.uk/helpcentre/...ts/?pagetabs=1

Q: You have made me an offer to repay my ppi policy premium. Will that offer change now ?
A: No. We will stand by any offer to settle a complaint that has already been made to you or a third party cmc acting on your behalf.

iS PREMIUM THE KEY WORD IN THAT QUESTION AS BOTH REFUND OF PREMIUMS IN EACH OFFER IS THE SAME ?

OR ARE THEY OBLIGED TO "STANDBY" HE FIRST FULL SETTLEMENT OFFER ?

[Bill-K]

Re: Bank of Scotland ppi refund

Hi and welcome Ticklegpz.

It's interesting that they have told you that their earlier offer was their 'Final Response,' and have then gone on to respond further !!! I have to admit, that I would be inclined to play the game by the rules which they are dictating, and acknowledge receipt of their 'Final Response,' and accept it. Hold them to it.

If they then try to squirm out of it by saying that was an error, then ask them to confirm how they consider that as an excuse, when they force claimants to accept settlement offers in 'Full and Final Settlement,' and anything further than their 'Final Response' will NOT be considered.

[di30]

Re: Bank of Scotland ppi refund

Hi

I agree with Bill, they should have had it right first time round, you accepted so there be it.


Well done on your success!

[ticklegpz]

Re: Bank of Scotland ppi refund

Hi
Thanks guys think i,m going to acknowledge receipt of their Final response and accept their offer as Bill has said, going to put this in writing although technically i have allready accepted their offer by doing nothing as stated in the letters and my refund would be credited to my account and show on my next statement subsequently a cheque would be sent to me under seperate cover.

going to give the FOS a ring too and see what they advise :tinysmile_grin_t:

Dont know if i should start another thread on this but also received an offer of £1200 ish on a Halifax loan but i have to set up a new loan for the balance minus ppi refund, set up new DD instructions, sign and return loan agreement before my chaque can be released.
I MUST KEEP UP WITH REPAYMENTS ON THIS NEW LOAN, AS FALLING INTO ARREARS COULD MEAN MY REFUND CAN BE USED TO PAY OFF THE ARREARS!!! blah blah blah

The current loan is on a debt management plan, any ideas on my situation with this one :tinysmile_hmm_t2:

[Bill-K]

Re: Bank of Scotland ppi refund

Yeah, start a new thread for that one, Tickle.

I realise there are some other issues, but the basic guideline for PPI reclaims is that the CURRENT loan should be re-scheduled to account for the reduced payments in future. The important thing with this is that all the Terms & Conditions of the original loan are agreed, and you should NOT be forced to accept a new loan on different terms to the original unless you wish to.

However, if there were problems with the original loan, then there is probably scope for negotiation - but do NOT let them push you around, matey.