M&S Chargecard PPI - Offer made

Idler

M&S have written a letter containing the following interesting paragraph:

"I'm unable to respond directly on a case by case basis to the specifc issues raised, however on this occasion I'm prepared to uphold your complaint and outline below how I intend to resolve the matter."

Ok, so far so good. Huge fanfare at "UPHOLD".

However, they are offered £270. I've had a chargecard since 1990 and paid PPI from 1990 to 2003. They offer no sums at how they reached the figure of £270.

What should I do next? Obviously write back but it would appear this is their final offer as they refer me to the FOS, so I guess I'm looking at the FOS?

Has anyone had any M&S success with the FOS?

[Deleted User]

Idler wrote: »

However, they are offered £270. I've had a chargecard since 1990 and paid PPI from 1990 to 2003. They offer no sums at how they reached the figure of £270.

Write back to them and ask for a breakdown of the redress calculation. Do be aware that the period you mention ended nine years ago. Did you send them any documentation from the period? If not (and you don't have any) then your bargaining position is weakened considerably.
Also bear in mind that you will only have paid PPI when the card had a balance; therefore if you didn't use the card very much you won't have paid much PPI!

Idler

Thank you Moneyineptitude. I probably have three quarters of the statements for the account and may be able to find the rest, but I'm reluctant to offer them up as collateral at this stage until I can see if I can find the rest.

I'm more concerned about them not replying on a case by case basis. Isn't that against the rules??

[Deleted User]

Idler wrote: »

have three quarters of the statements for the account and may be able to find the rest, but I'm reluctant to offer them up as collateral at this stage

At exactly what stage do you plan on using them? The offer letter you received was their full and final response!
Why on earth didn't you send copies of these statements with your original complaint? Seems like you've shot yourself in the foot there!

Idler wrote: »

I'm more concerned about them not replying on a case by case basis. Isn't that against the rules??

The wording on your letter is a standard response from all lenders and no rules or regulations were broken.

janetnbecks

Just make sure you send COPIES and not the originals...they should be able to make an offer based on the statements you send (they can reconstruct if there are gaps in the statements). Just to reiterate DON'T SEND ORIGINALS

[Deleted User]

Moneyineptitude wrote: »

Why on earth didn't you send copies of these statements with your original complaint?

janetnbecks wrote: »

Just make sure you send COPIES

Yes, I don't know why the OP thought it prudent to withhold these in the first place. Sending them with the original complaint would have speeded the process and he'd likely already have a reasonable offer.

Idler

Thanks all - I reiterate what I wrote above. That I am reluctant to send the statements UNTIL I have had an opportunity to look for the rest.

[Deleted User]

Idler wrote: »

I am reluctant to send the statements UNTIL I have had an opportunity to look for the rest.

It's your potential loss. Do whatever you want.