Bank makes mistake with PPI offer

weescottishgirl

Hi ,Hope someone on here can help.7 days ago the bank made us an offer of £15,000 for our PPI claim ,we had gone through a claims company and they advised us to accept as they had gone through the figures and they were correct,we accepted ,filled in form and returned to bank.Today we have recieved a letter from bank stating they made a mistake and are now offering £8,000,they have not contacted the claims company ,we contacted them and find this all very odd,are normally all correspondance goes through them.Since we signed and accepted first offer,does this stand or are the bank simply trying to pay out less,Hope someone can help ,thanks

DrSqueeze

Does the letter explain the error and how it came about? It certainly needs to be challenged.

Although I dislike claims companies on principle, if they are acting on your behalf you should send a copy of the letter to them and let them contact the lender to resolve this. It's important to keep them informed otherwise they'll base their fee on the higher amount.

Have you made any financial commitments based on the higher amount? This can strengthen your case for asking them to stand by the original offer.

weescottishgirl

Hi ,Thanks for replying ,the letter doesnt explain the error,it just states the correspondence sent out on 4th august can be ignored as that had errors in the calculations for the redress ,sorry for the inconvience,claims company have no copy of this recent letter ,which they find strange, am just wondering what s going on !

di3004

I would ask them to send you a detailed written breakdown of how they come to the figure, they should provide these to you on request, good luck.;)

DrSqueeze

di3004 wrote: »

I would ask them to send you a detailed written breakdown of how they come to the figure, they should provide these to you on request, good luck.;)

Agreed.

You can tell them that since they've made errors, you want to be able to check their calculations. After all, what if they've made an error in the second letter.

weescottishgirl

They have now faxed me new figures ,however i have no idea if they are right,Anyone have any idea wh could help me with this ,thanks

DrSqueeze

weescottishgirl wrote: »

They have now faxed me new figures ,however i have no idea if they are right,Anyone have any idea wh could help me with this ,thanks

If you post the figures here, there are some very clever number people on this forum (alas, I'm not one of them).