Should I accept the offer

Richardl_2

Hi, I hope someone is able to advice me .
After years of writing to M&S Bank asking to reclaim my mis sold PPI. I had two rejection letter one in 2011 and another in 2012. Today I received a letter saying that they review the evidence and they will uphold my claim. But they will only refund my PPI from year 2000- 2009. They claim that they are unable to find any record from the year that my policy was sold in 1988.

Can someone in the know let me know whether I should refuse the offer and ask for them to get an average for the total amount from 1988 through to 2009.

Any advice would be greatly appreciated .

magpiecottage

You could.

They could then say that predates regulation so they don't have to pay you anything.

WatchMan

What they ought to do, where they do not have records of your account, is to make reasonable assumptions on what they owe you for those years.

They should do this by looking at your normal 'behaviour' or using the profile of a 'normal' customer.

How you ask them to do this, or whether it is a good idea at all, depends on what type of offer they are making you now and on what basis.

1988, the date of sale, predates relgulation. This doesn't seem to be an issue in this case and isn't an issue generally since another party has taken responsibility for the years up to 2005 (regulation).