lollipop67
Registered User
- Messages
- 15
omg delighted for u fingers crossed mine arrives soon too... enjoy ur Christmas... do u mind me asking was the compensation on the full amount including interest over paid or just the overpayment if that makes sense... trying to work out how good of a Christmas I'll be having!!!Ok, so the cheque arrived in the post. Includes amount overpaid, interest to compensate for not having access to money during period (time value of money), compensation at 15% and amount of €615 for independent financial advice. Very detailed set of documents which will take a while to digest. But I guess we can un cancel ChristmasHope some other people got cheques too.
thanks for the reply... didn't hear anything about the time value of money before... would there be any point in appealing it if I could get the cheque i'd be happy!!The 15% interest is calculated on the interest overcharged i.e. the bigger amount. Also, my Time Value of Money amount came to €441.95 based on an interest overpayment of €16,681. Hope your cheque arrives soon. It's interesting that they say that acceptance and cashing of the cheque does not affect your right to appeal.
The 15% interest is calculated on the interest overcharged i.e. the bigger amount. Also, my Time Value of Money amount came to €441.95 based on an interest overpayment of €16,681. Hope your cheque arrives soon. It's interesting that they say that acceptance and cashing of the cheque does not affect your right to appeal.
Here here
The timing of payments should also be questioned just before Christmas when people would take any money they can . Insurance companies do the same trick. Brendan quick question you say cash the cheque but by doing so are you not going to weaken your hand.
Banks
we did our best we got you YOUR money in time to save Christmas so we didn't ruin another Christmas for you. All your pain and suffering ended when you cashed your cheque and now your just being greedy looking for more.
Why did the banks send a cheque for the 15% when they could have sent the over payment first with the offer of 15% because there looking out for us that's why .if you want your over payment back you must also take our 15% and you never know you might just leave it at that.
Something to think about before cashing out early
Claims manager for a large insurance company.
Claims manager for a large insurance company. I for one will take his advise and get legal advice before cashing my cheque but I also understand some people do not have the luxury of waiting until they get advice
You do not need to take legal advice. Just cash your cheque.
You are in no way limiting your ability to
Brendan
- appeal for more
- appeal to the FSO
- take a court case.
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