Ppi and arrears

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Hi,

I have today recieved a letter from RBS saying they made me a ppi offer in march 2013.

This is correct, I chose not to accept this offer as at the time I was about 4 years into a default on said account, and heard if i accepted that it could make this default stick on file for another 6 years.

At this point my finances were much better and I didnt want anything to affect me buying a home so I ignored the offer.

So today they made the offer again and I have 12 weeks to accept. Default long since disappeared and file has been perfect since last default in 08.

Is there any reason I should not accept the offer? Credit file wise.

Thanks in advance 

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    You should have accepted it in 2013. It would have made no difference to your default.

    Accept it now.
  • Taggo
    Taggo Posts: 100 Forumite
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    Didn't want anything to affect my file so close to buying a house.

    So the worst that could happen now is they put it against any arrears i had back in 2007/8?
  • dunstonh
    dunstonh Posts: 116,625 Forumite
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    This is correct, I chose not to accept this offer as at the time I was about 4 years into a default on said account, and heard if i accepted that it could make this default stick on file for another 6 years.
    Not correct.

    Is there any reason I should not accept the offer? Credit file wise.
    No.  However, the lender can use the redress to set off against any unpaid debt.  in fact, they may have already done it back in 2013 as they do not require your permission to accept the offer.
    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.
  • Taggo
    Taggo Posts: 100 Forumite
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    Ok, well they never because they have asked me to accept the offer today.

    Ive accepted so i guess at worst they put it against the arrears and at best I get it.

    They called in a student overdraft while I was studying and while they were entitled to do so, the way it was done means morally ive made peace with not paying it. Young and headstrong. 

    Thanks for the advice. 
  • dunstonh
    dunstonh Posts: 116,625 Forumite
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    At least you know the best and worst outcome with this.   Assume the worst and hope for the best.

    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.
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