Hi Citizen B, yes they are VERY different to mine! They are on this thread, please can you also look at their figures and mine, and give me your opinion too? I would really appreciate that, Thanks Emmtay

Hi ims, do you think their workings are correct? Obviously mine were much more, what do you think the chances are of getting what i worked it out to be if I did go to court? Or would I have to go back to FOS first and see what they think? Thanks Emmtay

Ok, here's their reply... Thank you for your email dated 11 June. I'm sorry that you remain unhappy with my reply. However, I trust my email will now answer any outstanding questions you have regarding the Payment Protection Insurance (PPI) refund. As we only hold account information for up to six years we have used an average balance to calculate the PPI premium from account opening up to August 2003. From August 2003 up to when the PPI policy was cancelled, we have used the account statements to calculate the contractual interest. The rolling contractual interest is shown in the calculator tab under "Rolling interest balance". To compensate you for the loss of the PPI premiums from the inception of the policy 8% interest has been calculated on each premium at a simple rate. This calculation can be found on the same page under "Additional Interest". M&S Money firmly believes that the calculation is in line with the Financial Services Authority (FSA) and the Financial Ombudsman Service (FOS) redress guidance. I have again attached a copy of the calculation for your records. The password to open this document is ********** (case sensitive). I have again reviewed the amount of compensation for the delay in providing you with the requested information. As your specific questions hadn't been satisfactorily addressed I've increased the compensation by a further £100 to £300. This is our final offer and if you remain unhappy with our calculations, you should refer the matter back to the ombudsman service. Once again, I'm sorry that you felt it necessary to contact me and I trust that I've been able to clarify our position. Kind regards Does this sound correct? Any advice greatly appreciated Emmtay

Hi Yes, let's hope so this time! Thanks Emmtay

Hi Yet AGAIN, 3rd time now, I have received the same email just saying they believe the calculations are correct, blah, blah...to which I have now emailed the following. Dear I am not sure if I am not explaining myself clearly enough, but I STILL am not getting the answers to the questions I asked. Therefore, once again, I am asking for specific answers to a specific questions, and also require a FULL breakdown of how your figures have been calculated in each stage. 'The balance on the store card was transferred to a credit card and the balance included the PPI. From that point you were still charging contractual interest on the credit card so some of that interest was charged as a result of the included PPI balance, so I should get that back. The overriding principle is that I should be put back in the position I would have been in had the PPI not been applied in the first place. I can't see that you have made any provision for any interest refund after the account was made into a credit card ? If you were charging me contractual interest on the balance after 2006 then why have you made no allowance for this in your calculations. The balance still included the PPI and therefore part of the contractual interest post 2006 was as a result of the balance being higher than it would have been had the PPI not been in there?' According to the rules, the lender is required to provide an analysis of how the figures are arrived at, and the complete workings. If the lender will not provide these then FOS can force them to give the breakdown. PLEASE do not just send the same reply as you have done in your last 2 or 3 emails; IF your finance department are unable to answer these questions, then it is transparent that they do not know what they are doing. I look forward to hearing your response urgently. Yours sincerely Emmtay

Yes I hope this time he comes back with a proper explaination of their workings, otherwise I will have to go back to FOS unless I brave court.

Hi, had a good search on FOS website and cannot find anything similar to mine Not had a reply from M&S yet...normally they reply within 24 hours, so hopefully he is getting me the answer this time!

Hi Peony have a look at my thread, its got all the latest on it! Also, allianx were who i had to deal with through fos, but its actually m&s who are offering me the settlement now!

Hi, thanks for replies, will see what they answer this time, and have a look at FOS in the mean time. Back soon!

Hi ims As I thought, this was their answer.... Thank you for your email dated 03 June. As I stated in my email to you on 01 June, our Finance department has checked the refund of your Payment Protection Insurance (PPI) policy. The calculation is correct and is in line with the Financial Services Authority's (FSA) redress policy. In addition, the refund is in line with the calculations that the Financial Ombudsman Service (FOS) use for the redress of PPI. With regards to the amount of compensation for our initial error in calculating your PPI redress, M&S Money firmly believes this is fair and reasonable. In my last email, I did inform you to contact the FOS if you want to take this further. By mentioning this again, I don’t wish to cause any more upset. As I can’t help you any further you will need to ask the FOS to review our calculation and compensatory payment Once again, I'm sorry that you felt it necessary to contact me about this matter and I trust I’ve been able to clarify our position again I have sent a reply once again asking for an answer to the question, but i don't hold out much hope. I really don't know what to do next...do I contact the FOS again, or what are my chances in court do you think? I don't have any experience in court, althoug i did claim my bank charges back through MCOL. Any advice greatly welcomed Emmtay

ok, thanks

they didn't! This was their answer! What do you think I shoudl do? Court? Emmtay

Not a good result...here's their response- Thank you for your email which I received this afternoon. I am sorry that you are still unhappy with our calculations and offer of redress. Our Finance department has reviewed their calculations and firmly believe that the refund is correct. They have confirmed that all contractual interest has been refunded. The 8% statutory interest has been calculated on all the PPI premiums paid, which is the compensation to place you back in the position you would have been if the PPI hadn't been charged. We believe the compensatory payment of £200 due to our initial error when calculating your refund is fair and reasonable. As I previously informed you if you disagree with our calculations and redress then you must go back to the ombudsman and ask them to review our calculations. Once again, I am sorry that you remain unhappy with our offer and compensation and I hope I've made M&S Money's position clear.

ok, email sent! cheers

Just one more question for now:-)....would you take this to court or accept their offer?

Ok thanks, will send them an email this afternoon and let you know what they reply, cheers emmtay

another thought...surely the statutory interest should be from first premium until settlement?

Hi again No it was June 2003 when they changed it to a c/c from a store card, so nearly 3 years as a c/c with a much higher balance! cheers

Hi ims Thanks for that, so, what should I tell them they should change? Or should I do a different spreadsheet and send that to them and explain what they're doing wrong? If so, please can you tell me which spreadsheet to do and what interest rate to use and for what period as I'm getting a bit confused now. Thanks emmtay

ok thanks ims

Hi ims Just wondered if you had chance to look at the figures yet? Emmtay

Thanks ims, I really appreciate it....I am seriously beginning to feel like my head is going to explode....speak tomorrow then, Emmtay

StatIntSheet%20v101(1) 2nd sheet.pdf Ok, thats everything! So, I don't have a clue what their figures mean or how they have got to them? Why are they using FSA guidlines and NOT FOS? Are they right? If they are, then what date are they calculating to, as its not clear to me:oops: If they are wrong, and I am right, please can you tell me how to explain to them that they are wrong? I really need to get this sorted out, its starting to make me ill now:x Thanks Emmtay

1st sheet for CI APR 15.9.pdf

1st sheet for CI APR 14.9.pdf