will i lose all of a claim if i refuse the banks offer ??

sweet1968

I have had a reply from hsbc with an offer for ppi ,it says they do not want to see me financially out of pocket so are making the offer . but i am still nearly £4000 out of pocket .what should i do??? will i lose all of my claim if i say no ??

dunstonh

Theoretically, if their offer is a goodwill payment rather than an upheld complaint, then they can withdraw the offer if you choose not to accept it and pursue by other means. However, realistically, it doesn't happen unless you take court action.

Generally, offers are not made with figures picked out of thin air. They are made using defined calculations. Why is it that they figure they have and the figure you want are so different?

sweet1968

i re financed three times over a short period juggling finances and each time the ppi was settled with the next loan and so in a six month period i was sold £17600 in loan protection,but with the adjustments on refunds still paid over £5900 in ppi in six months. i think this was extreme to say the least .

dunstonh

i re financed three times over a short period juggling finances and each time the ppi was settled with the next loan and so in a six month period i was sold £17600 in loan protection,but with the adjustments on refunds still paid over £5900 in ppi in six months. i think this was extreme to say the least .

Have they broken down their figures so you can see how they worked it out?
if so, did they factor in the refunds you would have got with each PPI payment when a new loan was taken out?

sweet1968

they have worded it as ppi redress but the figures do not mach up to anything i was charged for instance the final loan has a redress of £818 but i actually was charged £2466.99 and 3 direct debits of £92.53 so where do they get £818 ?? from. it actually does say on the letter this will effectively return any premiums i have paid , dont make sense at all to me?

dunstonh

You are going to need to ask them. You dont need to reject the complaint at this stage. Just tell them that you dont understand how they have that figure as you work it out differently and ask them to explain.