M & S PPI reclaim - help with offer letter

[Fur]

I have been grinding away a claim with M & S Money for three months and the attached letter has finally been dragged out of them showing their calculations.

 

I have a good deal of statements going back to 1991 and their offer has come up from around £700 to £1200

 

but they do not seem to want to give me interest, at either 8% or the contractural rate of 15 to 22% on the PPI premiums.

 

I have done various spreadsheets and would like someone to have good look at their views and let me know a further way forward

M & S letter 210212.pdf

[Fur]

I also attach a spreadsheet I have done with all the ppi premiums I have from the statements I have to hand.

 

In some places (where the figure is centred in the column) I have made a guess but I haven't done this all the way through.

 

If anybody wants to copy and past and recalculate then I would be very happy. And also suggest a reply!

M & S Money calculation 040112 cag.xls

Edited March 7, 2012 by Fur

[ims21]

Hi

 

In order to check their figures you would need to use the attached spreadsheet

 

FosRunningPPI v101.xls

 

What you get in terms of 8% depends on the behaviour of the account and if it goes into a credit balance as a result of the removal of the PPI.

 

ims

[Fur]

I have been in correspondence since August last year and they have come up form £600 to £805 and last offer £1244.

 

Then I got a letter saying thank you for recent correspondence but they will not longer deal with my client until I provide evidence of of contracural relationship!

and then another letter saying they will look into it in next eight weeks.

 

I have sent them over 120 pages of statements that I have and the oldest is from June 1991, though ppi stopped in 2005.

 

All I want is something near to the spreadsheet calculation and recognition of all the effect I put in.

 

I uploaded their calculation on my own thread.

[dx100uk]

so have you done as ims21 advised and used the correct spreadsheet?

 

dx

[Fur]

yes. I sent my fortnightly chaser today.

[emmtay]

Hi

I have a similar situation to you, see my thread-

M&S Chargecard/creditcardPLEASE HELP

Mine is going back to 1994, but I only have statements from 2003 until 2006 when I cancelled the PPI.

They are trying to not pay me any interest either!

My account was never paid off though, infact it was usually up to its credit limit.

I'm hoping for some help on which spreadsheet to do, and will keep following you to see how yours progresses...good luck!

Emmtay

[Fur]

Not heard anything as yet so I am going on warpath again. As I have some tiem tomorrow I will do it recorded as this usually prompts a good quick reply.

[Fur]

They have come up to £2113 which is starting to get near.

 

Howver the funny thing is their first offer was ppi £502.70, contract int £367 and 8% 0.06.

 

Next offer ppi 609.49, contract 543.23 8% 5.65

 

After much correspondence offer now is ppi £808, contract £383.34, 8% 921.90.

 

The first offer was for only contract interest between Nov 03 to account close Jan 07 as their records did not go back that far. I sent them statements back to 1991, though their latest offer includes a spreadsheet that they have started in May 1988, and I do not know where they got that from. Their SAR response was pathetic so I have gone back to them telling them what it should include - it did not even include mention of current correspondence.

 

Fun but not giving up yet.

[Fur]

I have been banging away with M & S and they will not budge.

 

However they have confirmed in the last correspondence that they give contractual interest,

and 8% when it is in credit and also 8% statutory interest.

However they state that the figure that they calculated up to 17th August 2012 is not changing and that's that.

 

I will try and scan their figures and correspondence in letter this evening but I do recall a similar claim being made by someone called emmtay,

and their profile was very much the same as mine.

 

I have statements with gaps going back to 1991, yet they have estimated the gaps and state they have backdated this all this to 1988.

I have put there figures into the calculation sheets and this comes out at around £5200, against their figure of £2113.

 

The account was closed in January 2007 and the ppi stopped being added on my request in December 2005.

 

In the threads started by emmtay etc there was discussion on the fact that in changed from charge card to credit card and in my case this was in October 2003.

the only thing can see that makes a difference is the interest rate changed down to 14.9% from then as opposed to over 20% for most of the charge card life.

Does the charge card/credit card mean there is a different way of calculating the redress?

 

Also I have the stuff all ready to go to FOS, but as M & S have agreed that redress is due, does FOS adjudicate on the calculation only?

I want them to pay up and could do with the money like everyone,

but I cannot see why it should take FOS two years to tell run the calculation.

 

Also I sent in a SAR and it the reply was only two pages, and does not details any of the contact I have had over the last 15 months.

 

How do I go about stirring that up more.

 

All the other SARs I have gt back have been very full and thorough, though on the whole useless.

 

I did one to RBS in July and they sent back a letter today saying they cannot do it or reply until send them proof of ID.

they were the only ones that did not comply f sorts within 40 days.

[dx100uk]

you should use the fosCI

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?330996-Latest-Spreadsheets-PPI-Claims-and-Charges-Claims-Dec-2011

 

see what that gves

 

dx

[Fur]

I have done all those and have also just found the old thread I mentioned and read through it again.

 

That redress came to about £6300 and the same spreadsheets come out for my ppi premiums plus theirs for the gaps

(and to be fair I think they are being a little generous on the ppi in the gaps) is around £5200.

 

They are really just trying it on I think to get me to settle as they will not send through the actual calculations just selected columns.

 

I think I will just complain to FOS which is such a pain; I might claim illness or hardship to get it sorted quicker.

The only ray of sunshine is the 8% I get on the money while they delay!

 

Can we direct me to anywhere I can get more info and history on complaining to the ICO about the lack of doing a SAR properly?

 

 

Many Thanks for your help. I direct everyone I ever mention ppi or hear them mention anything to this site - It gets them thinking every time.

[Fur]

Also Can I take their £2110 now and complain to FOS?

[Fur]

Just for general interest really

 

I attach the three spreadsheets which use a combination of the their guess in the gaps and my statements.

 

First sheeet is 1988 to Oct 2003, avergar int 20%.

 

Next rolls this into credit card balance from Oct 2003 to close of account in January 2007,

 

next 8% on that to date .

 

 

[ATTACH]38980[/ATTACH]

 

[ATTACH]38981[/ATTACH]

 

[ATTACH]38982[/ATTACH]

[Fur]

Edited October 25, 2012 by Fur
the spreadsheets don seem want to attach

[Fur]

I re posted the spreadsheets as they did not seem to upload before.

[dx100uk]

well i thought this might make you laugh

 

 

dx

[Fur]

I know, though the interest rate was only 14.9% from October 2003.

 

I rebuilt the statements with their figures and mine and it worked out all the way through so I am fairly confident of my figures, though they will not budge. However the calcs that were posted on the other older thread direct from M & S after they were FOSsed mean I should hold out.

[ken100464]

Fur

 

Am in exactly same position as you but with another lender.

 

Not sure the majority of people are checking the claims. In my case contractual interest is set at lowest rate it was. ( introductory offer ) and then overlimits have been ignored even tho the recon balance is blantantly showing the balance to below limits. The more PPI added the less likely overlimits are possible.

 

I have reconed my account and is blatantly not what lender says it is. Whats more have reconed the account with lowest interest rate and no charges removed. Guess what. Same as their offer.

 

These banks make you sick. Diddle you with the PPI then diddle you with the redress. If this was a normal person you would be thrown in jail for theft.

 

Anyway keep at it. If your confident and the spreadsheet on here is good to use then keep at em. Check out FOS website. They say lender should return you to where you would of been if miss-sale had not occurred. Not an arbitary amount of money that suits them.

 

Good luck

[ken100464]

PS

 

I have now caught three lenders out. Its well worth reconstructing the account to check they have got it right. The fav I am finding is over limits being left in when the recon shows balance is way below limit. PPI inflates the balance so it should be removed.

 

Again check FOS website it states charges due to PPI should be removed and seems to indicate overlimits being the one it means.