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I have been claiming back PPI on a loan I took out back in 1999, first I was told they had no paperwork because it was too far back and dismissed me. I went back to them with copies of the loan agreement signed by them which included the PPI amount on it and the insurance certificate. My complaint was that at the time I was told PPI was compulsory on graduate loans. They then agreed to uphold my loan and sent it for calulation. I received a letter yesterday saying that the loan for £6300 +PPI that is in the agreement that I have was never opened but superseded by a loan for £6450 without PPI. I was never advised of this and have no record. Their evidence is a printout of my account details stating that £6450 was credited to my current account. This is not on headed paper just a plain printout of numbers that could have been printed anywhere. They have not provided any loan documents and have never provided me with a loan statement, they claim they don't do that. The loan is still active although almost paid off. Where do I stand? Can they just claim there was never an PPI applied to the loan despite my having a signed loan agreement and certificate of insurance?
I have been claiming back PPI on a loan I took out back in 1999, first I was told they had no paperwork because it was too far back and dismissed me. I went back to them with copies of the loan agreement signed by them which included the PPI amount on it and the insurance certificate. My complaint was that at the time I was told PPI was compulsory on graduate loans. They then agreed to uphold my loan and sent it for calulation. I received a letter yesterday saying that the loan for £6300 +PPI that is in the agreement that I have was never opened but superseded by a loan for £6450 without PPI. I was never advised of this and have no record. Their evidence is a printout of my account details stating that £6450 was credited to my current account. This is not on headed paper just a plain printout of numbers that could have been printed anywhere. They have not provided any loan documents and have never provided me with a loan statement, they claim they don't do that. The loan is still active although almost paid off. Where do I stand? Can they just claim there was never an PPI applied to the loan despite my having a signed loan agreement and certificate of insurance?
Hello,
If I understand your post, the loan is still running, they must retain the paperwork. Have you sent a SAR or a cca request?????
If any of my posts are helpful, please feel free to click my scales. All information is given as my opinion only, based on my own personal experiences. I have no legal training, but have educated myself in aspects of consumer legislation. My motto "NEVER GIVE IN, NEVER SURRENDER", THERE IS A WAR ON YOU KNOW
No I hadn't because I thought I had all the paperwork. The reason i was given for them upholding the complaint was that all paperwork over 6 years old had been archived and they had been unable to find any of it. How will a SAR help?
Hells and CAS22, this one is to do with a full SAR including account notes. Remember me talking of the "Natwest Archive" notes system. It was thorough in terms of the loan amount and insurance or otherwise. CAS22 you need to ask for all notes on your account that the bank holds on you which should be part of a Subject access request.
Having gone back to Natwest I have received a very quick reply, here are the sections that concern me:
"With regard to your current loan, I enclose a copy of the loan account statement sheet 1 confirming that the present loan of £6450 was opened on 25 March 1999. (this was not enclosed) You will note that there is only one debit to the account and if GLP had been in place, you would have seen a seperate debit entry relating to the policy. I enclose a copy of the ledger available on your current account for the same date and you will see that there is a corresponding credit of £6450 placed to the account. (this was also not enclosed) As this confirms that you have had teh full benefit of £6450 on your current account, I am satisified that no portion of theloan related to GLP.
Regrettably, in view of the time that has passed since this loan was opened, the Bank cannot locate the loan documentation or paperwork. However, in view of the above statement entries, I am satisifed that GLP was not taken out with this loan and do not propose to investigate further. I can only assume that the GLP certificate that you have in your possession relates to a different loan."
This has been going on for well over 6 months, my concern is that the signed documents do not appear to relate to what they are telling me and they cannot provide me with alternative documents. What is my next step? The loan is still open, if they have 'loaned' me more than I agreed to and have no documentation to show I agreed to it, am I still liable for the difference? It looks like the loan was not set up as per the agreement I signed but changed - but I haved no idea or documentation to say why? This is odd because I have kept everything I was ever sent/given!
No that was what I asked for when I got this letter 4 days later? It was from a senior customer relations manager. Do I need to send it to someone else?
When you open the link go to search type in natwest in the name box and hit the search button that will bring up a bunch of connections then click the one you want and you should get all the details of the appropriate controller.
If it is not natwest directly that you will have to deal with then if you check my thread you will get some information from the letters I have been sending to RBS.
I'm a total lay here and also very frustrated with Natwest for "losing" my said loan agreement.
In your case, it just seems totally wrong !!!!!
You had a loan with Natwest, for which you retained all paperwork signed by you AND by them.
They now claim there was actually another loan taken out by you for which they can't give you the original loan agreement and which presumably you also didn't sign?
hmmm, sounds fishy.
If they can't provide a signed agreement for the supposed loan, and you can provide signed papers for another loan taken out in the same period, then surely your paperwork must the honoured documents.
OK in response to my SAR I have received two documents which are a list of transactions for both my current and loan account, nothing else. There were no account notes or loan documents or anything, there wans't event a letter just a paragraph about manual intervention of charges which made no sense to me. I am really confused.
Looks like they have not fully complied with your SAR, but they do stay very close to their track record.
There is a non-compliance letter regarding the SAR in the bank letter template sticky on the main page of the forum. Get it send as soon as possible. remember to send recorded delivery and retain all receipts and track the delivery on the royal mail website so you know and can prove when they received it.
To all others who have not received their credit agreement from the RBS or Natwest. Report them immediately to the FSA, OFT and trading standards, they do not look into individual complaints, but they do log them and if they get enough of them reported, they will investigate and probably heavily fine them which to be honest is no more than they deserve.
If any of my posts are helpful, please feel free to click my scales. All information is given as my opinion only, based on my own personal experiences. I have no legal training, but have educated myself in aspects of consumer legislation. My motto "NEVER GIVE IN, NEVER SURRENDER", THERE IS A WAR ON YOU KNOW
Looks like they have not fully complied with your S.A.R - (Subject access request), but they do stay very close to their track record.
There is a non-compliance letter regarding the SAR in the bank letter template sticky on the main page of the forum. Get it send as soon as possible. remember to send recorded delivery and retain all receipts and track the delivery on the royal mail website so you know and can prove when they received it.
To all others who have not received their credit agreement from the RBS or Natwest. Report them immediately to the FSA, OFT and trading standards, they do not look into individual complaints, but they do log them and if they get enough of them reported, they will investigate and probably heavily fine them which to be honest is no more than they deserve.
You will find that RBS will not forward credit agreements under a SAR because they claim the copies are not stored in a relevant filing system.
You must make a complaint to the Information Commissioner.
How much do you owe on the loan?
An appeaser is one who feeds a crocodile, hoping it will eat him last. <br />
Winston Churchill
You will find that RBS will not forward credit agreements under a S.A.R - (Subject access request) because they claim the copies are not stored in a relevant filing system.
You must make a complaint to the Information Commissioner.
Fully agree with paulwlton.... see my thread for a load of complaints.....
NatWest help needed..
on a loan I took out back in 1999, first I was told they had no paperwork because it was too far back and dismissed
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Originally Posted by CAS22
so you know and can prove when they received it.
