PPI refund offer received, need advice please!!

samtob

Hi, I have posted this on the successes forum but as I haven't received a reply I think this is the wrong place!!Just a quick question; In brief, had Tesco credit card since 2000, with PPI. Tesco agree I was mis-sold PPI and offered a very nice refund. They state that 'I would like to offer you a refund for your ppi from December 2003. This is the earliest available payment date we hold on record for your account. If you can provide any earlier card statements which show ppi, please submit these and I will be happy to review our offer'. As another kind post added, I have the original application which shows PPI was added in 2000, so surely this should count as 'evidence'? And surely it is up tp Tesco to provide this information, they must have it on record when I was paying PPI? If it was taken out at the time of application then this proves somewhat that I have been paying since 2000? I have today phoned them, and they say that as there is no evidence of the amount I had paid between 2000 and 2003, they cannot offer me a refund for this period, but only for the period 2003 to 2011. I was obviously paying out so what should I do about these 'missing years'? Any advice would be greatly appreciated!! , Also, does anyone know that if you do not accept the first offer and ask them to consider to review the offer, is there a risk of losing the first offer altogether? Sounds daft, I know, but I don't want to tempt fate. Good news like this doesn't happen to me often so I'm kind of expecting it to go wrong somewhere! Please help, Tesco admit they mis-sold so surely I should receive something for those missing years? Thanks so much!

magpiecottage

samtob wrote: »

In brief, had Tesco credit card since 2000, with PPI.

That would probably mean that FOS has no jurisdiction as it predates the GISC code of practice.

I have the original application which shows PPI was added in 2000, so surely this should count as 'evidence'?

It does - but it could equally be construed as evidence that you actively applied for it rather than that it was missold to you.

surely it is up tp Tesco to provide this information, they must have it on record when I was paying PPI?

That depends on how long they have retained their records. In law, you have asserted a missale so the onus is on you to prove it. They are not obliged to.

If it was taken out at the time of application then this proves somewhat that I have been paying since 2000?

It also proves it is more than six years since you took out the policy and thus any misselling that may have occurred. That may not seem significant but if it is more than six years since the event giving rise to the complaint and more than three years since you ought to have been aware that you had grounds for complaint then they could timebar.

[quotedoes anyone know that if you do not accept the first offer and ask them to consider to review the offer, is there a risk of losing the first offer altogether?[/QUOTE]

Yes they can. If an offer is not accepted by the complainant the firm is not bound by it.

I have not done large scale complaint handling like this for some years now but when I did the firm I worked for made a lot of "commercial" decisions to uphold complaints unless it was obvious that it should not be. If that happened I would look at the case in detail but would consider both sides. If I believed a mistake had been made I would correct it and issue a new offer or a rejection as appropriate.

The risk you run is that the firm will withdraw the offer and decide the policy was not missold (based on the rules as they applied at the time) or that it is timebarred.

They may not do that and may offer further redress (assuming there is evidence they consider warrants doing so) but the risk remains.

It is your call.

src007

samtob wrote: »

They state that 'I would like to offer you a refund for your ppi from December 2003. This is the earliest available payment date we hold on record for your account. If you can provide any earlier card statements which show ppi, please submit these and I will be happy to review our offer'.

samtob wrote: »

As another kind post added, I have the original application which shows PPI was added in 2000, so surely this should count as 'evidence'? Any advice would be greatly appreciated!! , Also, does anyone know that if you do not accept the first offer and ask them to consider to review the offer, is there a risk of losing the first offer altogether?

You have three options:

1) Accept the current offer;

2) Go into your basement dig out around and if you find all your old statements and proof of the payments made between 2000 -2003 send them into RBS and kindly ask them to review the fingers - then see what they say (if they have put in writing that they'll review the offer on submission of more evidence there is no chance that you'll lose the current offer by doing this);

3) Tesco cards were run by RBS so you could also get the complaint reviewed by the FOS. I've never heard of a PPI complaint being time barred at the FOS (although some complaints are barred for other reasons).

HOWEVER - the FOS may well reject the complaint completely if you send it to them and you would end up with nothing.

If you go down this route the FOS could ask RBS to work out an average payment to make up for the missing years however the onus usually on the consumer to prove the payments made, so it would be a very big risk for a small (if any) gain.

offcumden

Samtob
You seem to be posting on several different Boards on the same subject and I suspect that you don't realise this is the case as you state you have not had any replies.
I am posting this in the hope they can be collated in one post as it appears to me that you are getting a lot of helpful advice which will be of use to all of us and to my mind would be beneficial if the were all linked together.
If you click on your own name you will be able to access all of your own posts and the responses to them
Good luck

magpiecottage

src007 wrote: »

I've never heard of a PPI complaint being time barred at the FOS (although some complaints are barred for other reasons).

I am not aware of it actually having happened.

However, I did use DISP 2.8.2 to timebar a complaint about an interest-only a couple of years ago. The argument I used was that there would have been annual statements (because the Mortgage Code dictated that the lender must issue them) and these would have shown the amount outstanding, so it would have been clear that it was not going down.

FOS accepted that position. With a credit card, showing the PPI payment each month, a complaint that "I didn't know it was there" ought to be able to be timebarred on the same grounds.

It would not enable complaints about suitability to be timebarred and it would not allow complaints about single premium policies that were added to the loan but a timebar ought to be enforcible on these specific grounds

src007

magpiecottage wrote: »

However, I did use DISP 2.8.2 to timebar a complaint about an interest-only a couple of years ago. The argument I used was that there would have been annual statements (because the Mortgage Code dictated that the lender must issue them) and these would have shown the amount outstanding, so it would have been clear that it was not going down.

FOS accepted that position. With a credit card, showing the PPI payment each month, a complaint that "I didn't know it was there" ought to be able to be timebarred on the same grounds.

That makes sense, although if PPI was added in without someones knowledge (if that can be proved) someone might think it was a compulsory part of the card agreement and so seeing it on the card statements might not mean that they're aware of the complaint.

Barclaycard at some stage started calling it 'optional payment protection' on their statements, so maybe the time barring argument could work for them three year after the 'optional' word was added to the card statements.