Do I just wait until Capital One get back to me

[Wilson 1967]

Hi, I am new to this site, and need your help and advice. I sent a PPI claim to Capital one on 26th July. I haven't received any confirmation from Capital One, I phoned on 22nd of August and again today. They stated a letter was sent on 31st August stating they need another 4 weeks as their is a bag log.

I originally took the card July 2002 and cancelled the PPI in May 2010 after getting into difficultly paying my card balance £3200.

Do I just wait the 4 weeks or refer this to the FSO?, also if successfully does anyone know an estimated amount I my get.?.
thanks for reading my first post

[di30]

Re: Do I just wait until Capital One get back to me

Hi and welcome

They do actually have 8 weeks and anytime after the 8 weeks you are entitled to complain to the FOS, however there are back-logs, and maybe personally you should give them a little longer, and as they did send it on the 31 August or they confirmed they did, it should realistically be with you before the end of this week.
Good luck and please keep us posted, cheers.

[Bill-K]

Re: Do I just wait until Capital One get back to me

Hi Wilson, and welcome to you. I agree with Di that it's best to exhaust every possibility with CapOne first, as referral to the FOS rarely speeds matters up. CapOne may issue you with a standard fob-off letter and tell you it's their Final Response. You can then refer it to the FOS, but I prefer to carry on with the lender, as they often haven't 'investigated' your complaint at all, and are just hoping you'll give up and go away.

Meanwhile, have a read in the PPI section, so you'll have some idea how to respond if they do fob you off. Paule has a good guide here:-

http://www.legalbeagles.info/forums/...ASE-READ-FIRST

It's not easy to calculate PPI claim values with credit card accounts. You basically need a complete list of all PPI payments with dates, plus account balances and interest charged. I've attached a spreadsheet/calculator which we use for this. If you can fill in the dates and amounts, it will calculate what you should expect to be offered. Turboman has an excellent guide to PPI calculations here, which should help you understand what the spreadsheet does:-

http://www.legalbeagles.info/forums/...I-Calculations

[Wilson 1967]

Re: Do I just wait until Capital One get back to me

Thank you both for your advice. The letter eventually arrived today, I think I will phone each week to get an update, before making any further decisions.