FSO Provisonal decision

[thesheenster]

Hi Guys.

Thank you for allowing me to join

This is my first post

I'm looking for advice with regards to Aviva Insurance Ltd. They are the underwriters for the Insurance taken out on a loan from Welcome Finance. The Ombudsman upheld my claim on 17th May and issued a letter advising a cut off date of 18th June . Aviva didn't respond to this date and when I chased an update on 18th July, this was still the case. However, the FSO have now been in touch with Aviva who are planning on settling the claim but they still need another 2 weeks for some final figures from Welcome Finance.
Should I chase again in 2 weeks?
Once the Ombudsman has issued his final decision, how long should I then wait?

Any advice would be very much appreciated

thanks
Thesheenster

[di30]

Re: FSO Provisonal decision

Hi and welcome

There is no harm in contacting the FOS whenever you like, but yes do give them a little time, as you know they can take some time. So yes if you hear nothing give them another week or 2 to ask for an update on your complaint.
Usually once the ombudsman give the final decision, they could give the business so many weeks to put the complaint right as request, some maybe 4 weeks other may take longer.

So once you know the timescale the FOS have given the business but you hear nothing by then, always chase it up with the FOS.

Good luck.

[thesheenster]

Re: FSO Provisonal decision

Thank you, Di. I will give them another 2 weeks and give them a call. My claim is in excess of £6k so I will keep on top of it and post the result. Thanx again x

[thesheenster]

Re: FSO Provisonal decision

hi everyone. I have a wee update for you. Without chasing, I received the Ombudsmans final decision this morning. He advises that my complaint has been upheld and advises me to accept/reject within 4 weeks

Methinks an acceptance is on the cards lol !

I will, however, post the final result

xx

[di30]

Re: FSO Provisonal decision

Great news

If this is the decision of the ombudsman himself (after it being looked at by the adjudicator) then the bank must oblige to the decision made.

Good one x

[thesheenster]

Re: FSO Provisonal decision

:tinysmile_grin_t: yes, it does state that both I and the business will be bound by the decision once accepted

Happy days !!:tinysmile_grin_t:

[thesheenster]

Re: FSO Provisonal decision

Hi, everyone, its me again.
Can someone advise how long I need to wait for Aviva to pay out. I would have thought it was in their best interest to pay out asap. I'm really struggling financially and this money would be a great help and would get me right back on my feet.
Thanks in advance for any input

xx

[di30]

Re: FSO Provisonal decision

Hi there

The FOS will usually give them a few weeks, some 4 or even longer, what I would do is contact the ombudsman who dealt with your complaint by email or even ring, explain your financial situation of struggling which is causing you stress. Ask what timescale have they given the business to pay your refund, if they not confirmed this to you yet. It may help push this quicker for you. Good luck x

[thesheenster]

Re: FSO Provisonal decision

Good morning .
Have just received the offer from Aviva this morning. Can someone please advise on this as we are a bit concerned that the info that Welcome has furnished Aviva with is incorrect

Original Loan amount £11,315
PPI Premium £2389.48
Monthly payments x 120 £273.86 per month

Summary of Redress is as follows
Monthly repayment £273.86
of which PPI premium is £19.91
Lender Interest on PPI Premium £26.90
Total monthly payment to be redressed £46.81
No of payments made 63
Total Premium/lender Interest redress £4083.90
8% simple interest on respective monthly payments £2807.20

Redress payable £6891.10

however the loan start date is listed as 10/08/2001 and the early settlement date is 04/12/2006. We settled this particular loan in Jan 2008. My husband called Welcome and they advised that we had settled in 2006. This is deinately not the case. Where do we go from here ? Can someone advise. we don't want to knock this payment back and have to start all over again. I have had enough of Welcome Finance to last me a lifetime !!!

[di30]

Re: FSO Provisonal decision

Hi there
Great news and well done.

If its incorrect they MUST put it right.

Contact the data protection unit and ask them what settlement date they hold within their business.