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Had an offer but not sure if I should take it - any advice?


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Hi All

 

After a very long fight with GE Money (well over 2 years and we've been at court for 18 months but keep revising dates as we have been in discussions about a settlement) they have finally made an offer thats in the same ballpark as my original figure.

 

The figure they have come up with is for the original PPI amount of £1,024.89 plus a daily interest figure calculated at 35p a day for 2064 days. Obviously this is nothing like the FOS methodology, but neither is my original court submission (compound spreadsheet from here from ages ago). So a couple of considerations:

 

1. As the loan was paid of after 24 months, if I take this amount in respect of the PPi refund, could I then go back and argue that the settlement figures for the loan were incorrect ? The settlement figure thing s in line with FOS guidance and I don't want to lose out on this aspect because he difference if PPI hadn't been applied is £2000 + 8% interest so a lot more than the current offer !

 

2. Or I could go back to GE and suggest we use FOS methodology - this wouldn't be as much as the 2 claims would be seperately as they currently stand, but may be a more honest approach. But they have dragged this on for over 2 years, so not sure I need to be too moral about it.

 

I've got another week before I need to respond to GE so any thoughts would be appreciated.

 

Best Wishes

 

Popeye

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