Thread: royal bank of scotland ppi

hi
about 6 weeks ago i sent a request for a true copy of my personnal loan credit agreement(recorded delivery)
4 weeks later no reply so i sent a further letter(with a copy of the first letter)
both letters copied from this forum
i have now recieved a letter back from the bank saying they have mislayed my agreement heres a copy of there letter
RBS letter023 consumer forum.jpg Views: 15 Size: 11.9 KB">rbs letter023 consumer forum.jpg
rbs letter024consumer forum.jpg
my question now is where do i go from hear
i have had 3 loans over the last 6 years do i need to request seperate loan agreements for the other 2 loans
am i just being daft or does the bank owe me this money back
i was told on each of the 3 loan occasions that the insurance would guarantee me the loan application being successfull as i dont have the best of a credit rating i took it not knowing how much it would end up costing me

many thanks for all your help
mike

Hi

A SAR would be better - costs £10, but you should get everything they have on you, including screenshots, print outs of amounts paid on each loan, agreements if they have them, etc.

Do you have the account nos for all 3 loans? You will need these to start reclaiming PPI, so you'll have to do the SAR if not.

Have you read the stickies at the top of PPI forum? From what you say you should be able to reclaim PPI.

Sorry, can't read your letter.


Jan

hi jan4a
thanks for the quick reply
im not very good on the pc so this is what is said in there letter

dear mr
re request for copy credit agreement under section 77 consumer credit act1974

i refer to your correspondence dated 7 november 2009 making a request under s77(1)
we regret to inform you that the loan agreement has been misfiled and despite searching our records we have been unable to locate it regretably we are unable to comply fully with your request made under s 77(1)
of the consumer credit act and return the £1.00 which was enclosed with your letterhowever we are able to provide you with a statement of financial information which is detailed below

statement of financial information


(loan details etc here)


other non statutory information
interest rate 13% apr
personal loan protection premium £4709

notwithstanding this the loan remains valid and we expect you to continue to meet your obligations under the agreement we should point out that if you cease to make future payments as they fall due we will report the default to credit reference agencies (cras)
the RBS group and other companies may use the record of the default and any other information provided to the cras when considering applications by you or anyone else whom you have a joint account or similar financial association for facilities including motor household credit life and general insurance
the existence of information on accounts in default at the cras may impair your ability to obtain credit or other financial facilities such as current accounts for a period of up to 6 years

if you require more details about the loan we shall be pleased to supply whatever details we have in our records should further assitance be required please do not hesitate to contact us at the above office

yours faithfully

i dont have the details of my other 2 loans so i take it i should now go down the road of SAR
thanks mike

Yes, you do need the agreement ref/no to start PPI reclaims. Unless there is another way you can get the accounts nos?

For the one you have the ref, amend this letter to suit and send recorded if you want to start the ball rolling rather than wait for all agreement nos.




Dear Sir/Madam

Re: Loan Ref No:

I have been looking at my agreement with you, reference above and have noted that I purchased Payment Protection Insurance from you.

I am now of the belief that I was mis-sold this policy for the following reasons:


1. Employment Status: Due to being self employed when I took out the policy.


2. Responsibilities When Underwriting a Policy of Insurance: On each occasion, when the details of a loan were discussed your sales advisors failed to check my personal circumstances at the time of the sale, which they are under obligation to do when underwriting a Policy of Insurance. If they had done so, they would have realised that the PPI policies were useless to me. At no time was any attempt made to ascertain if the product provided was fit for purpose, suitable for my needs or if indeed it was required at all.


3. Alternative Insurance Cover: Your sales advisors in each case failed to ask me if I had any alternative arrangements for insurance cover. My employer has a generous illness package which would cover a period of sickness as follows: 6 months full pay followed by 6 months half pay. I would also be entitled to a generous redundancy package and a substantial payment would be made in the event of my death in service (more than suffice to clear the balance of the loan).


4. Failure to Supply Important Information with Regard to Significant Policy Exclusions: I was most definitely not informed that the PPI policies could contain certain exclusions which could affect me and my ability to claim on the policies if I should need to. Additionally I was never told that Pre Existing Medical Conditions could invalidate my policy and I was never asked if I had any Pre Existing Medical Conditions despite your advisors being aware I was in receipt of a War Disablement Pension. One element of this pension includes back injury which I know is an exclusion in PPI Policies. I also believe that I would also be excluded on at least one other existing condition.


5. Widespread PPI Mis-Selling:I am now aware of the widespread mis-selling of PPI by some financial institutions, following recent media coverage and recent OFT, FSA and Competition Commission investigations and inquiries regarding the mis-selling of PPI. I believe this is borne out by Point 3 above. I am also aware that the question of PPI cover is the subject of an ongoing inquiry by the Competition Commissioner


6. Wholly Inappropriate PPI Selling - Employee Bonuses: I understand that some employees are paid higher bonuses if they get prospective creditors to take out PPI with loans. How can the best interests of the customer possibly be met, if there is a clear conflict of interest between your responsibilities to me, and the drive of your employees to sell Payment Protection Insurance whether it is suitable or not in order to receive bonuses?


7. True Nature of Single Premium PPI Not Explained: No explanation was forthcoming from any advisor on any occasion on the full extent of single premium PPI policies or the fact that they would offer little or no refund if the loan was settled early or if the insurance was cancelled. The statements you have forwarded on accounts xxx and xxx, show no element of any refund of PPI or PPI interest when the accounts were refinanced or settled. There was also no explanation that the cost of the PPI premium would be added to the total cost of credit and interest added for the full term of the agreement. I believe this practice is unlawful.


8. Unfair attachment of PPI with no competition involvement: I now believe that the single premium PPI policies attached to the loan accounts were both extremely unfair and totally unreasonable and offered me very little, if any protection value whatsoever. Furthermore I believe in light of the preliminary finding by the Competition Commission that the PPI was unfairly attached as there was no opportunity for me to seek competitive Insurance. I am therefore requesting a full refund of all costs including all single PPI premiums that have been paid, the interest added to these premiums and the PPI proportion of the direct debit payments, that I have paid over the life of the account agreement.

What I expect from you is justification that the policy was suitable for me based on my circumstances and an explanation as to how your suitability criteria works. If you cannot justify this to my satisfaction I request a full refund of all premiums paid to date as well as interest on these payments.


Furthermore as I believe I have been unlawfully deprived of this money, I also expect the repayment of the interest at the Statutory Interest rate of 8% to be applied to of each of the single premiums and the PPI proportion of the direct debit payments.

In respect of cancellation of a policy may I draw your attention to the following reports from the FSA, namely, 'The sale of payment protection insurance - results of thematic work, November 2005' & 'The Sale of Payment Protection Insurance - results of follow-up thematic work, October 2006'' that state "When consumers cancel the PPI without repaying the loan, some firms will need to reissue the loan without the PPI. Firms should ensure they treat their customers fairly in relation to the terms on which they reissue the loan.". This means that any new loan is on the same or better terms and does not detriment me in any way and that this is to be done without making a new search on my credit file.

I expect a swift response to this letter within 14 days, containing either your full justification or notice that you will be refunding these payments.

If I do not receive a satisfactory response I will issue another letter notifying you of my intention to take further action if the matter is not resolved within a further 14 days. After this limit has passed I will be either contacting the Financial Ombudsman to investigate my complaint or issuing court proceedings.

Yours faithfully

hi jan4a
thanks again for a quick reply
i think i will send off to the bank a copy of the letter you have outlined below . my only worry is if i start the ball rolling,will the bank mislay all the details of the two previous loans like they have with this one, but this time they could mislay account / reference numbers and then i would not be able to claim back PPI
so i think what im trying to say is do i wait untill i have the SAR or do i get stuck in and start claiming back all that im due on this loan then start claiming on the other two once i have the required details

many thanks again
mike

It will probably be easier if you get the SAR first then do all three claims together. It'll be easier to keep track that way as well (just in case they try and offer you full & final settlement on the one claim).

It depends how fast you want the money really.

Jan

thanks again jan4a
i will send off for the SAR tomorrow , is this the correct address to send it off to(royal Bank of Scotland) . i think it is as i checked on the forum but just wanted to make sure


Registration Number: Z5619639
Date Registered: 03 August 2001 Registration Expires: 02 August 2010

Data Controller: THE Royal Bank of Scotland PLC

Address:

36 ST ANDREW SQUARE
EDINBURGH
MIDLOTHIAN
EH2 2YB


thanks mike

Hi

Sorry, not sure. My claim was Northern Rock. But the stickies will be right.

Remember to send recorded delivery in case they mess you about.

Jan

hi
thanks pall will do recorded delivery . i did it with my request for a true copy of my credit agreement just dont trust the banks (just like every one else on here)
thanks again mike

thanks for all the info alanalana
i have sent off for the Subject access request and will post as soon as i hear anything back from my wonderful bank (cough cough)
thanks again everybody mike

hi guys
just a quick update
just got a letter back from royal Bank of Scotland not bad considering i sent off the Subject access request on 08/01/2010 . they sent my request back saying i had to sign it to confirm my identity i sent it back to them on 28/01/2010 ,recorded delivery and recieved this reply yesterday 05/03/2010

data protection act 1998

we acknowledge reciept of your letter requesting your personal data held by the bank and payment of the £10 fee
we are in the process of dealing with your request any information that is required to be provided under section 7 of the data protection act will be forwarded to you at the above address as soon as possible
please be aware that it is not our practise to provide further copies of standard documents that you would have recieved as part of our normal course of business . this would include providing you with further copy statements
however , if you do wish us to include copy statements ,please advise us at your earliest convenience ,please also confirm the statement period you wish this to cover
if you have any queries relating to this matter please do not hesitate to contact me at the address shown above
yours sincerely

my questions are
1 is this a standard letter
2 i am wanting to claim back my PPI on 2 loans that i dont have account details on and 1 that i do have details for will i get these details in the Subject access request or should i ask for them
3 how long should i allow the bank to get the subject access request to me ,they do seem to be dragging there heels a bit

thanks for all your help
mike

Subject access request
am i right in saying the banks have 40 days to supply me with a Subject access request , if so when will the 40 days start
1 when i originaly posted it to them
2 when i reposted it to them
3 when they acknowledged reciept and said they were in the process of dealing with it (2 months after originaly posting the request to them)
many thanks for your help
mike

When I sent my PPI complaint to RBS I only had my current loan number but asked them to investigate all previous loans which they duly did.

So you don't necessarily have to wait for the SAR info before back from them.

Good luck!

thanks dec22
how did you get on with your case against RBS is it still ongoing or have you settled with them
thanks again mike

hi pal
thats great to here youve won your cases gives me a lot more hope
just waiting for my Subject access request seen as ive sent for it then its time to get myown back on that wonderful (not) establishment the royal Bank of Scotland
thanks dec22
mike

Good luck!

Also be aware, that once you have made your complaint, RBS generally take about 12 weeks to investigate, not that often that they give a final response within 8 weeks.

dec22 thanks
i will keep you all updated

ok peeps
need help here
today i recieved what i thought would be my Subject access request
what i actually recieved was
1 copy statements for my RBS credit card
2 a copy of the original contract for my rbs credit card
and nothing else
this info came from rbs credit card centre in southend on sea but the Subject access request was sent to-
Data Controller: THE ROYAL Bank of Scotland PLC
36 ST ANDREW SQUARE
EDINBURGH
MIDLOTHIAN
EH2 2YB


my subject access request listed my 2 bank accounts my rbs credit card and i quote "And any other account ie loan accounts etc"so my question now is-
will i also recieve subject access request details from the other departments of rbs or will i have to write back to them and ask for the details on the bank accounts and the other loans