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In May this year we sent off a PPI Questionnaire to HFC Bank (now HSBC) covering a loan taken out in 1990 and a flexi-loan (where you are issued with a cheque book, etc.) taken out in 1991. On 31/7/14, we had a letter back upholding our claim. We had to fill out and sign a form accepting this redress. This included the wording "We accept this offer of £x in full and final settlement of our Payment Protection Insurance complaint with regards to account numbers a and b against HSBC Bank plc."
In September, whilst browsing the Financial Ombudsman Service (FOS) website, I noticed that the Compensatory Interest (CI) - in £x above - should have been at 15% for the years 1990 to April,1993, and not the 8% they paid. I wrote to them on 22/9/14 pointing this out, but have not received a reply. I sent a reminder this weekend, but fear that will be ignored too.
This isn't really a PPI problem. I think there are three main queries I have - i) HSBC should have known that the CI should have been paid at 15%, are they committing some sort of fraud?, ii) have we signed away our rights to the extra 15% CI because of the "We accept..." wording? and iii) what's the best way of expediting a resolution (given that I'm in my late-60s with some health issues, and am a bit worried about the length of time an approach to FOS might take )?
In September, whilst browsing the Financial Ombudsman Service (FOS) website, I noticed that the Compensatory Interest (CI) - in £x above - should have been at 15% for the years 1990 to April,1993, and not the 8% they paid. I wrote to them on 22/9/14 pointing this out, but have not received a reply. I sent a reminder this weekend, but fear that will be ignored too.
This isn't really a PPI problem. I think there are three main queries I have - i) HSBC should have known that the CI should have been paid at 15%, are they committing some sort of fraud?, ii) have we signed away our rights to the extra 15% CI because of the "We accept..." wording? and iii) what's the best way of expediting a resolution (given that I'm in my late-60s with some health issues, and am a bit worried about the length of time an approach to FOS might take )?
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