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Should I settle for first offer on PPI?
guitarwidow
Posts: 1 Newbie
AMEX have made me an offer (stating it's a "goodwill gesture" payment). Should I accept this, being the 1st offer they've made - how do I know if it's a FAIR offer? I now understand that my employment status NEVER would have covered me but this information was ommited. I paid it over a course of 10 yrs (from 2002).
Do I calculate: the total amount paid in over this 10 yrs plus interest at the base rate (which they have calculated)? - what % is base rate?
Some people mention "compensation" - am i to understand this is an extra amount in addition to the claim (for being inconvenienced financially)?
Can anyone help? I'd like to know what I can actually expect to get... I don't want to be ripped off a second time by the same company!! Thanks!
:A
Do I calculate: the total amount paid in over this 10 yrs plus interest at the base rate (which they have calculated)? - what % is base rate?
Some people mention "compensation" - am i to understand this is an extra amount in addition to the claim (for being inconvenienced financially)?
Can anyone help? I'd like to know what I can actually expect to get... I don't want to be ripped off a second time by the same company!! Thanks!
:A
0
Comments
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stating it's a "goodwill gesture" payment
Most are.Should I accept this, being the 1st offer they've made - how do I know if it's a FAIR offer?
Because the method of refund is standard. It is a refund of provable contributions plus interest.Some people mention "compensation" - am i to understand this is an extra amount in addition to the claim (for being inconvenienced financially)?
No. It is financial redress. Not compensation.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.0
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