RBoS PPI farce

[diskmandave]

Hi all, hoping someone can suggest something. A good mate of mine (male, 20) went into his local RBoS asking for a £200 overdraft, actually came out with a loan for £1000 complete with PPI for another £120 at 21% apr. He actually paid this down to the £400 mark and out of the blue was laid off and RBoS refused to pay out on the PPI, so with no way of paying they crippled the account with charges and now he's got our dear friends from Moorcroft chasing him for just under £1000.

The debt isn't in dispute at all, we just think RBoS have acted despicably, we know we can hit them for the charges back but was wondering if anyone had any thoughts on the PPI fiasco..?

Regards, Dave.

[hellhasnofury]

Originally Posted by diskmandave

Hi all, hoping someone can suggest something. A good mate of mine (male, 20) went into his local RBoS asking for a £200 overdraft, actually came out with a loan for £1000 complete with PPI for another £120 at 21% apr. He actually paid this down to the £400 mark and out of the blue was laid off and RBoS refused to pay out on the PPI, so with no way of paying they crippled the account with charges and now he's got our dear friends from Moorcroft chasing him for just under £1000.

The debt isn't in dispute at all, we just think RBoS have acted despicably, we know we can hit them for the charges back but was wondering if anyone had any thoughts on the PPI fiasco..?

Regards, Dave.

The banks do act despicably, The first thing your friend has to do is be prepared for a fight. They will deny any mis-selling, they will say that he signed the agreement and even tried to claim on the policy.

I personally would send them a Subject Access Request, which costs £10 and get all information relating to the loan. He may gain further ammunition for his complaint.

With this information he may be able to claim back penalities charges which took the debt to £1000,

Good luck