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Got an offer but not correct?

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Hello Forum, today I have received a offer from Lloyds tsb to repay my PPI but the offer is way below the amount I originally paid in fact the amount i originally paid is equal to the final offer with all of the 8% apr and cost involved eg final offer £500. for PPI the £300 for APR and costs my original PPI payment was £900 in advamce. I have called Lloyds to ask this question but have been banded around with no correct answers. only the option to not accept the offer and take thing to the FOS. Now i would like to know why the offer is well below the amount i originally paid and if it is worth rejecting the offer and taking thing further? Is this normal tactic in a hope that i would take the money and run?

Would be grateful of any info and to hear other experiences.

I am happy to take Private messages.

Comments

  • roonaldo
    roonaldo Posts: 3,420 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    did you have a rebate, or make a succesful claim or in arrears?
  • roonaldo wrote: »
    did you have a rebate, or make a succesful claim or in arrears?

    Sorry can you explain what you mean?

    I didn't get a Rebate or Refund.

    I made a successfully claim in that i have an offer from the bank

    the loan is paid off not in arrears.

    Is this what you meant?
  • amersall
    amersall Posts: 17,035 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    There are a few reasons why the PPI is not the whole PPI amount, did you settle this loan early?.
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