Marc Gander - The Consumer Survival Handbook

A 220 page introduction to all things consumer related by our own BankFodder.

Includes energy companies, mobile phone providers, retailers, banks, insurance companies,debt collection agencies, reclaim companies, secondhand car sellers, cowboy garages, cowboy builders and all the rest who put their own profits before you.


Patricia Pearl - Small Claims Procedure - A Practical Guide

An excellent guide for the layperson in how to use the County Court - a must if you are intending to start a claim.

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Thread: Loan

  1. #1
    Basic Account Holder
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    Cagger since : Oct 2010


    Thumbs down Loan


    I have an ongoing (and possibly never ending) complaint with RBSicon at the moment over a Loanguard policy. As I was told you had to take out the PPI to get the loan, I have a complaint at fosicon looking to get the PPI refunded plus interest.

    As an aside to this, RBS said I could cancel the policy by visiting a branch. Something which the branch managed to mess up and RBS acutally admitted to.

    To give some background, my loan agreement shows my loan repayment is broken down to 241 for the loan, 61 for PPI. So each month I pay 302. When my PPI policy was cancelled, I expected my loan payments would then be around 241 - as there is no PPI and the figure quoted for the loan on its own was 241.

    They have now said, with my PPI cancelled, my loan repayments will now be 291 a month!!!

    When I challenged the complaint handler, she said the figures on my actual loan agreement were just estimates and the amount I actually paid towards PPI each month were actually estimates because at the start of the loan more than 61 would have went towards PPI.

    This is not noted anywhere on what little information they gave me on the loan agreement and since they gave me absolutely no info about the PPI itself, I was fuming. I also asked how they could quote very exact figures on the loan agreement, and then turn around and say they are actually just guess work.

    Do I have any grounds to challenge the original loan agreement if this is the case? It feels wrong that they can set out your premiums at the start of the loan and then turn around almost five years later and say 'well actually...'.

    They way the loan is now, I have no insurance (not that it was any good anyway!) but still going to be paying more than 50 over what the loan agreement quoted for the actual loan repayments.

    I am so confused and after almost a year so far of RBS dragging their heals and generally doing anything they can to mess up my accounts, I don't trust anything they come away with.


  2. #2

    Default Re: Loan

    Welcome to CAGicon!!

    I think you need to obtain all documentation relating to the loan including the loan agreement and details of the PPIicon policy.

    Use a SARicon to otain this information.

    I think you may be better investigating mis selling of the PPI and reclaiming all premiums on that with interest. Have a look on the PPI forum. Here is a link.

    Why not start a thread there and good luck!

    Any advice given by me is based solely on my experience in claiming, my experience in CAG or my opinion. I have no legal background. I want to encourage others to reclaim what is theirs.

    Got a DCA breaking OFT guidance. Complain to the OFT about the DCA. Help put an end to these practices-

    Register with CAG today, its free, its a great community:


    Thankyou Kennythecelt

  3. #3

    Default Re: Loan

    Any updates on this one?

    An appeaser is one who feeds a crocodile, hoping it will eat him last. <br />
    Winston Churchill

Reclaim the Right Ltd. - reg.05783665 in the UK reg. office:- 923 Finchley Road London NW11 7PE
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