ppi awarded but wrong amount

[specs123489]

Hi all can any one help
through the FOS my complaint was upheld clydesdale have made an offer but claim i was only charged £293.20 for ppi on loan of £5000 over five years am sure I was charged upfront £894 paperwork of origonal contract confirm this. also bank claim that fos advised that i have accepted the offer made. what can i do
please help ty

[leclerc]

Re: ppi awarded but wrong amount

Speak to the FOS and state that Clydesdale is stating that you have accepted an amount which is clearly inaccurate and to which you can prove with paperwork(which they either do have or you have not supplied to them).

Did you accept that amount from the FOS or not? have you accepted it either verbally or via email?

[Guest]

Re: ppi awarded but wrong amount

I would get onto the FOS I think it very unlikely that they said any such thing.

As for excepting the offer, I would bank the check and then chase the balance of what they owe, there is no acceptance of an offer, if they still owe you money from mis-selling then you have every right to claim the full amount, whenever, it is there duty to pay whatever is owed in full.

[specs123489]

Re: ppi awarded but wrong amount

thanks for reply fos actually have the paperwork relating to this as no amount was mentioned by fos simply that my complaint was upheld and a spread sheet was sent to bank to work out amount owed.

[specs123489]

Re: ppi awarded but wrong amount

ps i have not accepted the offer either verbally or in writing

[specs123489]

Re: ppi awarded but wrong amount

does anyone know if 293 is a realistic amount of ppi on a 5000 loan over 5 years

[leclerc]

Re: ppi awarded but wrong amount

does anyone know if 293 is a realistic amount of ppi on a 5000 loan over 5 years

Did you keep a copy of the paperwork because without knowing whether that figure is PPI alone or PPI plus interest then it is difficult to say. Was the loan paid off early? Did the loan go to term? What amount of the original amount payable was PPI?

The above questions are the problematic thing. If the FOS have stated a figure that the bank should pay then that is what you should accept.

When you worked out your figure was that with contractual rate interest applied or simple interest?