PPI offer halved, is there anything we can do

[chrisnewton]

Hi all

I wrote on here a few weeks ago about an offer of £4,000 from ocean finance, i had a feeling they had made a mistake, anyways they sent the offer out and we singed it and waited for the check to come..today we had a call saying they have made a mistake and another letter will be coming out for us to sign for £2,000. Can they do this? we could have borrowed on the strength of that first letter??

Any advice would be appreciated

Chris

[EXC]

Re: PPI offer halved, is there anything we can do

If they made a mistake it would be reasonable for them to adjust their offer accordingly.

Either was they have an obligation to explain to you clearly how the offer is calculated before you agree to accept as per DISP App 3.9.4 FSA Handbook - Full Handbook

[di30]

Re: PPI offer halved, is there anything we can do

Hi

Do you know what you actually paid of the PPI?

You could ask them for a breakdown, its possible they may have miscalculated, but I would definately request for a written breakdown or an explanation of the mistake they made.

[skv123]

Re: PPI offer halved, is there anything we can do

Hi all

I wrote on here a few weeks ago about an offer of £4,000 from ocean finance, i had a feeling they had made a mistake, anyways they sent the offer out and we singed it and waited for the check to come..today we had a call saying they have made a mistake and another letter will be coming out for us to sign for £2,000. Can they do this? we could have borrowed on the strength of that first letter??

Any advice would be appreciated

Chris

We've had this sort of thing come up before but not with Ocean. We've gone directly to the CEO or executive team of a firm, argued basic contract law of offer and acceptance and they've stumped up the extra cash.