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Should offers be accepted?
WorriedByDebt
Posts: 19 Forumite
In a nutshell, I have received an offer from RBS. I've had previous PPI payouts and those just said "this is what we have calculated".
The fact that RBS have termed this "our offer" makes me suspicious. The old adage "never accept a first offer" springs to mind.
Anyone else had an offer increased? Or decreased?
The fact that RBS have termed this "our offer" makes me suspicious. The old adage "never accept a first offer" springs to mind.
Anyone else had an offer increased? Or decreased?
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Comments
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PPI redress is defined, not somehow negotiable.
Accept the "offer"0 -
So you'd think. However I'm naturally suspicious and having to sign a document saying it's full and final settlement makes me wonder if I'm being shortchanged.0
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Naturally suspicious?WorriedByDebt wrote: »I'm naturally suspicious and having to sign a document saying it's full and final settlement
PPI redress is defined, not somehow negotiable. You can't haggle any more and they can't "offer" any less.0 -
It's the fact that I have to sign to say it's in full and final settlement that makes me wonder. If they could demonstrate that they have paid the full amount then there'd be no point in that, would there?0
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If you have solid evidence that you paid more than is being refunded, then you should present this to the Bank.
Otherwise...0 -
The term offer is typically used in goodwill gestures rather than accepting actual wrong doing.t's the fact that I have to sign to say it's in full and final settlement that makes me wonder
Standard wording when accepting any redress.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Thanks all. I've accepted the offer.0
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WorriedByDebt wrote: »So you'd think. However I'm naturally suspicious and having to sign a document saying it's full and final settlement makes me wonder if I'm being shortchanged.
It's a shame you didn't apply your "naturally suspicion" when you originally took out the financial products. Maybe then you wouldn't have had unwanted PPI in the first place!0 -
Try reading the FCA handbook section on PPI redress, and the FOS guidance. They refer to "consequential losses", did you have any ?0
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