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We've got a claim ongoing with RBS, they have agreed to cancel the PPI saying that we were not mis-sold the policy, but, as a gesture of 'goodwill' are willing to make a payment without accepting any liability.
We've worked out what we've paid in PPI in the period of the loan. If we were to accept their offer, does anyone have any ideas on how much we would get? (we paid approx £850 in PPI).
We've got a claim ongoing with RBS, they have agreed to cancel the PPI saying that we were not mis-sold the policy, but, as a gesture of 'goodwill' are willing to make a payment without accepting any liability. If you were them would you offer a refunde as a goodwill gesture if you were sure the policy was not mis-sold?
We've worked out what we've paid in PPI in the period of the loan. If we were to accept their offer, does anyone have any ideas on how much we would get? (we paid approx £850 in PPI). If the PPI is being cancelled then the loan should be restructured and you payments should reduce accordingly. As for the PPI refund you should expect a full refund of all PPI payments made, the insurance on those payments and also ask for 8% statutory interest on top. I would write and ask what repayment they are offering and then decide to accept, complain to the Financial Ombudsman Service (this will take several months due to the explosion of claims the fos are getting ie 500 a week). You also have the choice of Court action and the onus is on RBS to prove the PPI was not mis-sold. The offers of goodwill are flooding out now this way they are trying to fend of the FSA fines that have been imposed on so many more banks.
Any help will be greatly appreciated.
Hope this is useful If you are not happy with their offer then send a Subject access request with the £10.00 fee gather the evidence you need and start a claim from scratch. Every complaint to the FOS will incur a £400.00 cost to RBS.
I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner. ------------------------------------------------
Bank charge successes:
Halifax - Full settlement incl interest.
HSBC - Settlement, goodwill no admission of liability about 75% of claim.
RBS - Settlement, goodwill no admission of liability about 70% of claim.
2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did
PPI Successes
PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.
2 claims settled in full with LV without FOS involvement.
2 claims settled in full with HSBC without FOS involvement
PPI Claims ongoing with:
Cap one Now with the FOS
Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.
LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc
Please do not PM me for advice as it may be sometime before I can respond.
Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.
Are you using the Financial Ombudsman to help your claim through or are you dealing with RBoS directly?
If you are using the ombudsman then feel free to use the letter below (Thanks to alanalana for the assistance with it)
Thank you for your letter regarding my complaint against The Royal Bank of Scotland Plc.
I am pleased to hear that the bank wishes to settle my complaint, although I am not willing to accept their offer until they can clarify a few issues.
1) As they are offering this as a Full and final settlement, as a goodwill gesture and without any admission of liability, I would need to know the actual figure involved before I could accept.
2) I would also require written confirmation that any refund paid to me would be by personal cheque in my name only, and that the appropriate refund should not under any circumstances be deducted from any balance remaining on the card.
3) I am also sending the bank a Subject Access Request, in line with the Data Protection Act 1998 so that I can cross reference the banks' offer against the figures shown on the credit card statements. Therefore the 7th April deadline is impractical.
I would be grateful if you would pass this on to the bank, and hopefully they will respond in a positive manner.
I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner. ------------------------------------------------
Bank charge successes:
Halifax - Full settlement incl interest.
HSBC - Settlement, goodwill no admission of liability about 75% of claim.
RBS - Settlement, goodwill no admission of liability about 70% of claim.
2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did
PPI Successes
PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.
2 claims settled in full with LV without FOS involvement.
2 claims settled in full with HSBC without FOS involvement
PPI Claims ongoing with:
Cap one Now with the FOS
Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.
LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc
Please do not PM me for advice as it may be sometime before I can respond.
Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.
With regards to the comments, you've obviously gone to the fos with your complaint following initial complaint to RBS. You therefore may as well accept the offer as what ever the fos have decided will be 'fair'. The don't give you an actual figure as they calculate as at the date they receive your acceptance. I don't know how they calculate the amount that is paid back - if it's single premium I believe you will get the whole premium plus possibly interest at 8%.
With regards to the comments, you've obviously gone to the fos with your complaint following initial complaint to RBS. You therefore may as well accept the offer as what ever the fos have decided will be 'fair'. The don't give you an actual figure as they calculate as at the date they receive your acceptance. I don't know how they calculate the amount that is paid back - if it's single premium I believe you will get the whole premium plus possibly interest at 8%.
I disagree.What if there offer is only 70% ? That is the reason you need to have a figure, as once you accept then there is no comeback.
Refund due from RBS, but no liability?
, they have agreed to cancel the PPI
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Originally Posted by pinkkibby
