HFC Bank offer accepted incorrect calculation

[Splashy]

I accepted an offer from HFC on a PPI policy a couple of years ago. At the time I assumed that the process involved the bank calculating what I was owed and paying me that amount.

 

I am now much wiser and believe that they just refunded the premiums and did not add any interest. There was no details of the calculations, not even a breakdown re the 8%.

 

Can I go back and ask them to show me the calculations and question if they were correct?

[dx100uk]

http://www.consumeractiongroup.co.uk/forum/showthread.php?339318-Are-the-banks-obliged-to-re-open-previously-rejected-claims-for-mis-selling&p=3792184#post3792184

[Splashy]

Sorry, cannot see the answer in that post or thread

[dx100uk]

yes you can ...it means

 

now ok lets deal with the basics

 

when was your reclaim?

 

dx

[Splashy]

My policy started in July 1999.

 

I made the claim in 2010 and received a response very quickly with the offer.

 

Having checked the calculations I estimate that it was under half of what I should have received.

 

The total amount was given to me as an offer with no breakdown at all as to how that was derived.

 

Looking back on old statements is such a painful experience .. repayment of £272 per month of which £211 was interest and £80 PPI, can now see that it would take an awful long time to pay off that loan !

[dx100uk]

going by the thread I pointed too

which was 2012, as yours was 2010

you should be able to re-open the claim and get the correct refund.

 

you appear to have the data you need - i'e everytime you paid £272 - £80 of that was for PPI.

 

so by filling in the statint sheet you should xome to the correct refund?

dx

[Splashy]

Thanks very much.

 

I will do a SAR to get the full picture.

 

Your help is very much appreciated.