Beyond the FOS, Whats best to do next?

[pickers9]

Hi All.

 

This morning I got my final decision from the Ombudsman after the file was passed beyond a case worker. The FOS have rejected my claim which I feel is a no brainer and has left me a bit confused about the whole FOS purpose, as the company are recorded giving false and inaccurate information.

 

I have all recorded calls which proves beyond doubt a loan I had was sold to me with features which do not exist and also using expressions which lead me to believe the loan was fixed rather than variable. ie them using words like "remainder" and "thereafter" in relation to monthly payment amounts.

 

The FOS have said as I have signed the agreement, the fact the advisor failed to mention in EVERY call the loan was variable and did not point out payments could go up or down was okay. The FOS seem to think they did not need to mention this.

The FOS have failed to comment on why the adviser told me I could over pay each month when this is not a feature of the loan. Almost as if they have not read my complaint and listened to the actual recordings. It seems they are just relying on the signed agreement.

 

I can imagine its easy to sound hard done by here, but the recordings are so clear in what was said and what was omitted I need to know what the next best step is in order to ensure the recordings are listened to and justice is done.

 

Does anyone know if am I best employing a solicitor or just going down the court proceeding route myself as it is so black and white the incorrect information sold to me and the numerous breaches of the CCA and OFT rules. This really is not just my imagination but the FOS rejecting my claim has left me confused.

 

Thanks in advance for any help and pointers.

 

RP

[rebel11]

Hi pickers

 

Welcome to CAG

 

You need to 'appeal' their decision, but you need to get a 'proper' response from them, yes you 'signed an agreement', but you weren't given the full facts related to the product. What you're saying is that the product was mis-sold to you, because you weren't given the full facts. If you had been given the full facts regarding the product, you wouldn't have signed. So find out how they arrived at there decision, ask for more info. Then lodge your appeal. You've also got COBS.

 

http://www.consumeractiongroup.co.uk/forum/content.php?834-Fair-Treatment-for-Credit-Card-Holders-and-Borrowers

 

Please let us know how your problem has been resolved, it could help fellow Caggers.

[pickers9]

Hi Rebel11

 

Thank you so much for your advice.

 

I have emailed the Company and the FOS today saying I do not accept the FOS's final decision and have equally asked the company confirm they have had their final say. At the same time I have asked the matter to be referred to a team within the FOS which apparently look in to how the Ombudsman arrived at their decision...(although I do not hold much hope with this).

 

I am just about to prepare a case for "verbal misrepresentation" based on "incorrect information being given" and "failing to provide certain facts" and I have mentioned this in the email to both of them so they know what I am going to do next.

 

I will now look at your links as well as this is such a no brainer in terms of what the recording say I am amazed the FOS have decided how they have.

 

I will certainly keep this forum and thread updated on how I go on. Thanks again for your help!

[rebel11]

Hi pick

 

Here's more info:- http://www.consumeractiongroup.co.uk/forum/content.php?849

[pickers9]

Hi all.

 

Just had a call from bank where I still have this "homeowner loan" and they have now deicded to "uphold" my complaint based on verbal misrepresentation of the loan at the point of sale.

 

After coming up with a million reasons as to how this could have happened they finally said I did sign the agreement though, to which I said based on the verbal selling and I was not to be expected to see of the agreement contradicted what was said.

 

They have agreed and offered me compensation....BUT....£150....to which have suggested was a bit of an insult considering if the features of the loan were available I would be saving closer to £20,000 in interest. So tomorrow I think I need to compose my thoughts an d figure out what to do next. Apparently there is a letter confirming their offer in the post....any thoughts at what to do at this stage? Do you go court now for the sheer hell of it?

[steuts1]

Hi, I have been trying for over 4 years now to reclaim over £18,000 in charges inc interest from the Halifax based over 7 years. I have and still am suffering hardship problems due to them,, ie, bad credit files. I lost count of times I left the bank in tears as they just refused to help me in anyway just kept putting the charges on. Anyway, have now gone to FOS and they did take the case on and got as far as the adjuicator, at that point actualy thought I was getting somewhere and someone was listening. Everytime they asked the bank a question, the bank was given 4 weeks to reply to each question, so it has once again been dragged out, now right out of the blue after all this time, they have informed me that as the account was in joint names at the time, even though my ex husbands name was not a signaturoy on the account and never had been and proof for this was shown, along with the fact that at time of closure his name was not on the account either, again proof provided, they will no longer look into the charges claim. I have asked for more time to get advice about it as my divorce papers also show that my ex signed to say he would have no further claims on financial matters past, present or future. I have been given a 1 week extension, is that right ? how come the banks get 4 weeks for every single question posed and the "little people " get one week !!! Anyway, guys I need help now, I really do not want to fold after all this time and I know the bank is in the wrong here, so what now for me, I have asked for an eztension on the extension for the reasons stated above, FOS not replied to me yet. But is it correct that even though I have proof and court documents to prove he cannot have anything to do with any finacial matters, they wont take it any further because the account was joint. I dont even know where he is anymore, it was a very bad divorce as I am sure quite a few are, so speaking to him even if I could is not an option. Is court the answer for me ?? Any help appreciated.