PPI Is the offer right & proper...

7777

Hi everyone,
New to MSE forum today. I work for a UK bank (16 years now) and so have always avoided PPI claims despite being mis-sold on both loans and credit cards.

I have submitted a large number of claims and to date have had very good success considering I did this in late August.

My issue today is two fold and any advice would be great.

Firstly is with RBS. Natwest were my bank growing up and I had everything, loans, cards and overdrafts from say 18 - 25. They have offered me around £2k (BTW - I am not meant to be sounding like an idiotic show off. I have HUGE debts and know that I am lucky being offered anything).... so £2k is a tenth of what I received from another bank who paid me £22k. If you add in another part of their world that is actually nearer £25k after tax.

This has all been done via MSE approved Resolver. Now the issue is that the bank who have paid me for more for my card going back to 1997 is not as long as the Natwest. Thus £2k sounds wrong and there is no info to use to show how they worked it out.

My question is - what should I go back and ask them to check? This leads onto question two. First Direct were my bank after the Natwest and they had my accounts a lot longer and then. closed when I got into financial difficulty. Their letter reads - here is £3k - take it and go away or we may look into it and it could drop down.

All of this money is life changing and allowing me to pay off debts so to turn down three thousand and risk getting nothing sounds like a dangerous option. I am sure FD paid me about £1500 three years ago due to insurance they sold me on a loan.

Thanks for reading my novel! Any help would be great!

7777

The_squirrell

It sounds to me as if they can see that you had PPI, but do not have records going back as far as 1997 and as a result, they have made a reasonable offer based on the information that they do have / goodwill etc. Not all banks will have information going back this far (How long is your employers retention period?) so if you have not provided any details showing that you had PPI, then it may be considered a good offer.


Obviously you have the option to take this to FOS if you are unhappy with the response, but without any further details, I think it is unlikely that the amount would be increased

7777

Hi The_squirrell,

Thanks for taking time out to help me. Natwest yes you are right they go back to the mid nineties, First Direct far more recent but still ten years.

I did not want to come across as greedy, and yet I think perhaps that is how I sound (to myself). I was mis sold PPI in some cases being told I could only have the card if I signed to say yes I want the PPI. It just felt that as I had seen detailed workings going back to 1997 on the large sum amount, it made me feel their guess-timations may have been out my a large factor.

Truly not sure what to do. Thank you though!

[Deleted User]

If you have no evidence that you can provide to suggest the figure is wrong, then you just need to enjoy the refund.

7777

HI zx81

I have no fact based evidence other than Company A paid £x and they were not my main bank. Company B offer signinifnatly less and it does not seem right.

You are correct though - no further details I can share so perhaps its end of the line

[Deleted User]

As the old Chinese proverb* goes, "A modest amount of PPI redress money in your pocket always beats a large amount of PPI redress money you don't have."

* Not an old Chinese proverb.

7777

A great point ZX81 and well made, thank you!