Yorkshire Bank PPI offer

steamroller

Hi, I made a PPI claim to YB back in 2007 which was rejected. You can imagine my surprise when I arrived home yesterday to find a letter saying that they have reviewed my claim and are offering to pay the PPI back (for 2 loans) plus 8% interest :j

Just wanted your opinion on whether I should just accept their figures and accept the offer, or if I should try to check their figures, which will be difficult as I don't have paperwork any more?

amersall

As you had no paperwork,I assume the bank don't either?,you take the offer.
Did you get a breakdown of the redress?.

steamroller

Thanks for the reply Amersall, yes I did get a breakdown, but assume that the bank must still have the details of the loans to have worked out the payment offer. Anyway, I probably will take their offer, just wanted to see what others think

[Deleted User]

steamroller wrote: »

I probably will take their offer

If you have no documentation of your own, it is difficult to see a circumstance where you'll be able to successfully argue for any more than has been offered. Until yesterday, this complaint had been rejected and you were content enough to have had no refund at all. Today you are prevaricating about the possibility that the Bank's calculations may be wrong!

Only if you can find compelling documentary evidence that you paid more than the Bank is refunding should you be doing anything other than accepting the offer. Refusing the offer in your current circumstance will do nothing other than delay the eventual payment of the same amount of money.

steamroller

[QUOTE=_Today_you_are_prevaricating_about_the_possibility_that_the_Bank's_calculations_may_be_wrong!.[/QUOTE]

As stated I will probably take the offer anyway, because as you rightly point out, yesterday I thought the claim had been rejected and closed. However, YB have obviously decided that they acted illegally originally by firstly taking the PPI payments and then by rejecting my claim. So I just thought that I would ask the question, never hurts to get the opinion of others

[Deleted User]

steamroller wrote: »

YB have obviously decided that they acted illegally

PPI mis-selling is not a legal issue, it's a regulatory one. Nowhere will the Bank have said or admitted that they have acted "illegally".

Some Banks have been forced by the regulator to look again at (some) complaints which may have been wrongly rejected. Clearly yours was one of them.

steamroller

No you're correct, they haven't said that they acted illegally, they have been forced to re-investigate some of their claims after being fined £21m for falsifying documents and lying to claimants (which obviously isn't classed as acting illegally if you're a bank)

[Deleted User]

steamroller wrote: »

No you're correct, they haven't said that they acted illegally, they have been forced to re-investigate some of their claims after being fined £21m for falsifying documents and lying to claimants (which obviously isn't classed as acting illegally if you're a bank)

The fine was levied by their regulator, not a court of law.. I'm not aware of any documents being "falsified", though there was certainly instances of PPI complainants being unfairly rejected.

PPI mis-selling is and always has been a regulatory issue rather than a legal one.