# We are entitled to compensation as well as a refund!



## AAM_User (26 Jul 2015)

We're entitled to a refund of money they fraudulently took from us, but we're also entitled to compensation for the years of stress etc which they put us through.  I have fear they're going to try to get away with as little as possible & that people will be blinded by the "offer" amount they're about to receive.

Now more than ever a united front is required dealing with them.  Remember we're entitled to our refund, but that's totally separate to any compensation.


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## Brendan Burgess (26 Jul 2015)

Good point. A few people told me that they heard on RTE that ptsb borrowers were getting compensation. I told them that as far as I knew, they were not getting compensation, but only their own money back which should not have been taken from them.

I hope that the Central Bank has insisted on appropriate compensation, but I am not sure how it would be calculated. 

I really do need people to talk about their cases to the media when the results are announced. If you guys go on air about the damage done to your family through this overcharging, you will increase your chances of getting treated fairly.

Brendan


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## Descart (26 Jul 2015)

AAM user,

Yes, you are of course entitled to compensation as well as a refund for breach of contract etc. In this Country financial institutions give you a refund based on their calculations. In relation to refunds, these calculations are often incorrect and do not take into account interest accrual etc. There are many types of damages that can claimed for a breach of contract.


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## L John (26 Jul 2015)

There are 3 separate strands to this issue.

_ First strand removed as it's discussed in detail in other threads - Brendan _


The second strand is the refund of interest overcharged. It's important you do not accept permanent tsb adjusting the interest rate so that you are charged the fixed rate for the balance of the term as if you hadn't broken out. The reason for this is the wording of the contract.  It states it will revert to the tracker at the end of the fixed term, not a specified time frame. Permanent tsb agreed to the ending of the fixed term at a specific time so that is the de facto cessation of the fixed term and the tracker should be implemented from that time.

The third is the payment of compensation,  a separate issue, not to be confused with the refund of the overpayment. Seperate to the issue of ptsb breaching the consumer protection code which comes under the central banks remit, legally ptsb broke contract and this breach of contract has caused financial hardship to many of its clients. A cool legal head needs to look at this issue and take a group action on behalf of clients to ensure appropriate compensation is paid by ptsb.


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## matan (26 Jul 2015)

I totally agree but i think until we receive these letters with "an offer" we wont be able to do anything, just wish they would send them out asap, im lucky in that our mortgage has reduced but i feel for the people whose mortgage hasnt been reduced yet or reduced to an unsatisfactory rate.


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## Gerry Canning (27 Jul 2015)

Suggest .
1.Get whatever (offer) into your account first.
2. There will probably be a small (compensation) amount.
3. Take your time to re-check Banks figures.
4. If it seems reasonable , sign for it.

We can talk about (stress) (hardship) etc , but these are hard to prove in a monetary fashion.
The only reason you are getting anything is, that by constant pressure PTSB was forced to act in an honest manner.

Banks have always got  away with things like, extra interest charged, funnies on Non Resident accounts, PPI, selling inappropriate policies etc ,etc , etc.
Our Government/Central Bank , FSO have permitted these things and (once the heat dies down)will permit similars in the future.
Banking  has never been trustworthy.

Sorry if my post is (defeatist)


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