Accept this Plevin offer?

Oh-nesty
Oh-nesty Posts: 5 Forumite
in Reclaim PPI & other insurance
After being rejected PPI claim by RBS then Ombudsman agreeing with RBS I nearly threw all documents away in defeat. Then RBS wrote to me regarding the new Plevin case.

After putting in a claim through Resolver on this site, I have been offered £661 but before I send back the acceptance form, Martin states that you shouldn't accept the first offer.

Is there a possibility that I'm not being offered the whole amount owing to me? I'm a bit confused now and on hold about what to do.

Any help appreciated.

Thanks.

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    First Anniversary Photogenic Name Dropper First Post
    You should accept the offer. It's calculated to a defined process.

    Ignore Martin's gibberish on the matter.
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
    First Anniversary Name Dropper Photogenic First Post
    Oh-nesty wrote: »
    Martin states that you shouldn't accept the first offer.
    Where does "Martin" state that a Plevin offer is somehow negotiable? The process is defined by the regulator.
  • Oh-nesty
    Oh-nesty Posts: 5 Forumite
    edited 24 February 2018 at 10:47PM
    Thanks for the responses. Here's the link to the advice that confused me if somebody could explain?

    Hmm cant find how to attach a screenshot image..

    The advice is on this (long) page, scroll down to Martin's 'Have you been Plevined' video and just above it (last but one link) -

    Had a Plevin offer from your bank? Don't just accept it without checking.

    moneysavingexpert.com/reclaim/ppi-loan-insurance#plevin
  • Partridge89
    Partridge89 Posts: 53 Forumite
    First Anniversary First Post Name Dropper
    The advice in the link would apply if your misselling complaint is rejected but at the same time you get a ‘Plevin’ offer. Martin is suggesting (based on nothing but conjecture) that the Plevin offer is being made to avoid having to make a potentially higher refund of PPI premiums. Poorly-written gibberish though, as another poster has pointed out.
  • mrandmrsloz
    mrandmrsloz Posts: 20 Forumite
    First Post Combo Breaker First Anniversary
    edited 25 February 2018 at 2:14AM
    If you click on the link it does explain in detail:

    "Had a Plevin offer from your bank? Don't just accept it without checking

    Banks must play fair on how they handle your complaint so if you get a rejection letter from a mis-sold PPI application that also contains a Plevin payment offer as well,!STOP!

    Don't accept it willy-nilly - first make sure you go to the Ombudsman in case it finds in your favour. The uphold rate for rejected PPI claims between April and June 2017 is 40% - so two in five rejected complaints are overturned in consumers' favour. We want to be sure banks aren't using Plevin offers to avoid paying out on genuine mis-selling claims.

    Until we start seeing how banks are treating this issue, it's difficult to give very clear advice so if you're unsure, please get in touch to let us know    "

    Although in the case of the OP, this won't apply as they have already been to the FOS.
  • dunstonh
    dunstonh Posts: 116,252 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    Don't assume that Martin writes the article.

    Plevin refunds have no haggling involved. It uses a defined calculation set by the regulator. Only if the figures input are wrong would the figure be changed.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
    First Anniversary Name Dropper Photogenic First Post
    mrandmrsloz wrote: »
    Don't accept it willy-nilly - first make sure you go to the Ombudsman in case it finds in your favour. The uphold rate for rejected PPI claims between April and June 2017 is 40% - so two in five rejected complaints are overturned in consumers' favour. We want to be sure banks aren't using Plevin offers to avoid paying out on genuine mis-selling claims.
    That's not advising rejection of the "first offer", of course.

    "Martin" is apparently concerned that a Plevin offer may be made to deflect the customer from the fact that their PPI complaint has been rejected. It's warning to be aware that any rejected PPI complaint could still be upheld by the Ombudsman.

    However, it's only referring to cases where both the PPI and Plevin complaint occur at the same time.

    In the OP's case, the Plevin offer has been made long after both the Bank and also the Ombudsman have already rejected the PPI complaint.

    The OP can therefore accept the Plevin Refund, confident that he won't receive any more than that.
  • mrandmrsloz
    mrandmrsloz Posts: 20 Forumite
    First Post Combo Breaker First Anniversary
    I never assume dunstonh - we all know what assume makes :wink:
    PS. As you may already "assume' I have been a lurker for years with little confidence to comment but I love yours and moneyineptitude's responses and knowledge!!!
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343K Banking & Borrowing
  • 250K Reduce Debt & Boost Income
  • 449.6K Spending & Discounts
  • 235.1K Work, Benefits & Business
  • 607.8K Mortgages, Homes & Bills
  • 173K Life & Family
  • 247.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards