PPI - Accept or take further?

maccy31

Hello
I'm new to this forum business, but was wondering if anyone had heard of or had been in a similar position to me and could help.
The story goes -

[*]Took out a loan out 8 years ago and was told that probably wouldn't get loan unless took out PPI. We didn't want it but did feel pressurised into having to have it
[*]Husband worked as a chef and was laid off twice during the period of loan.
[*]As a result of this we claimed on the PPI and successfully received payments which in the end totaled more than the PPI insurance value.

• We decided to have a go at re-claiming the PPI in July as we weren't sure of the exact figures etc, and thought nothing ventured nothing gained and we were MADE to take out the insurance after all.
• Wrote to Natwest who eventually replied saying that as we had used PPI and slightly benefited from it (£259) they wouldn't pay anything out.
• Two weeks later, we received a letter saying that they would be prepared to make a goodwill offer of £541.

I am unsure whether to accept or go to Ombudsman.
Would it be pushing it if went to Ombudsman. I have tried to find threads on similar cases but can't

What do you good people think? Would really appreciate your advice.

Thank you

[Deleted User]

maccy31 wrote: »

Wrote to Natwest who eventually replied saying that as we had used PPI and slightly benefited from it (£259) they wouldn't pay anything out.
Two weeks later, we received a letter saying that they would be prepared to make a goodwill offer of £541.

I am unsure whether to accept or go to Ombudsman.
Would it be pushing it if went to Ombudsman.

You are lucky the Bank is offering any payment at all if you actually received more back than you paid in! If you refer to FOS, it will take more than a year to adjudicate and the Bank will likely withdraw it's goodwill offer.

dunstonh

Sounds like they did you a favour by selling it as you claimed on the policy. Personally, I think it is a bit of a cheek to complain when it has been used. However, the rules allow it.

Given the short turnaround in this case and the small amount involved and it being a goodwill offer, it looks like an auto payout to avoid referral to the FOS because of the FOS charge.

As mentioned above, goodwill payments can be withdrawn if you go to the FOS. The firm is charged, even if your complaint is rejected,the charge is higher than the refund. So, they have taken the business decision of going with the cheapest option. If you go to the FOS, they are going to be charged the FOS fee which they only offered you this money to avoid. So, they can then withdraw the offer and if the FOS find no mis-sale (which is quite possible as you dont appear to have a genuine complaint) then you end up with nothing.

~Brock~

maccy31 wrote: »

Would it be pushing it if went to Ombudsman. I have tried to find threads on similar cases but can't

You were pushing it by complaining in the first place, and I cannot believe that you are now thinking about pushing it even further by clogging up the FOS process with a pointless and downright greedy escalation of this matter.