PPI compensation by Halifax

[chongsheng]

Hi everyone, new on this site. Can anyone please help me. Do I have to accept compensation offered by Halifax I think the payment is not correct can I demand for halifax to provide calculation breakdown how the figures come from?

[EXC]

Re: PPI compensation by Halifax

Hi everyone, new on this site. Can anyone please help me. Do I have to accept compensation offered by Halifax I think the payment is not correct can I demand for halifax to provide calculation breakdown how the figures come from?

In short yes.

The FSA have provided that the calculation of any offer of redress should be clearly explianed and I would quote them this paragraph from the FSA Policy Statement 19/12 (at 3.9.4 G)

''The firm should make any offer of redress to the complainant in a fair and
balanced way. In particular, the firm should explain clearly to the complainant the basis for the
redress offered including how any compensation is calculated and, where relevant, the rescheduling
of the loan, and the consequences of accepting the offer of redress.''

http://www.fsa.gov.uk/pubs/policy/ps10_12.pdf