Provider offering Full and Final Settlement

tascha_2

Hi

I have been offered a full and final settlement equating to 6 years premiums. The provider states that this is a good will gesture as they can't find the original paperwork signed when I was an impoverished student some 20 years ago.

I think my premiums were at least double that offered in total - plus they have not offered any interest etc. I asked for a copy contract in August 10 and it took 3 recorded delivery letters before they acknowledged my existence - when I sent in a claim in December (without the contract attached).

If I were to go to the Ombudsman would I lose this offer and perhaps end up with nothing?

I am stuck as to what to do. Does anyone have advice I could consider please

di3004

tascha wrote: »

Hi

I have been offered a full and final settlement equating to 6 years premiums. The provider states that this is a good will gesture as they can't find the original paperwork signed when I was an impoverished student some 20 years ago.

I think my premiums were at least double that offered in total - plus they have not offered any interest etc. I asked for a copy contract in August 10 and it took 3 recorded delivery letters before they acknowledged my existence - when I sent in a claim in December (without the contract attached).

If I were to go to the Ombudsman would I lose this offer and perhaps end up with nothing?

I am stuck as to what to do. Does anyone have advice I could consider please

Hi and welcome

I am not sure if the decision will change at all if you did decide to go to the FOS, if you have details going back earlier to the last 6years then it would help your case, but otherwise the decision could possibly stay the same.
It seems they have given this offer because they don't actually have anything else on the account going back to earlier than that, if you do have these maybe the business will reconsider if you send them copies perhaps, good luck.

roonaldo

This sounds like credit card PPI. Am I right? Unless you have statements going further back then accept it, as you will never get more unless you prove the premiums.

This is because firms do not have to keep records longer than 6 years.