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Withdrawal of offer
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AndrewJ1968
Posts: 1 Newbie
I had a claim with RBS who said I had paid PPI and made me an offer which I accepted. They now say I had no PPI and so will not be paying me what they offered. Does anybody know if they can do this or is the offer made by them binding upon them once I have accepted it?
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Comments
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If they've made a mistake, of course.
If you didn't pay any PPI, a full refund will amount to zero, even after statutory interest.0 -
If they made a mistake of course they won't pay you if they don't owe you anything
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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or is the offer made by them binding upon them once I have accepted it?
Its not binding. Much in the same way banks have paid more on an earlier offer that was found to be wrong. It works both ways. Mistakes do not give you legal entitlement.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 -
It’s more common than you’d think, even if they were legally bound by the offer, the offer would be to put you back in the position had you not taken out PPI, as you didn’t have PPI you are already in this position.0
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