Definitely not had any activity on this since early 2003. Does anyone have a link to a SB letter?

Thanks

I've had another letter from 1st Credit completely ignoring my letter that I sent on 5th August. Its a letter offering a sliding sclae discount if I pay within a certain period.

Should I just send them the original letter again asking for proof that I owe this debt?

Ah OK - I've never had any correspondence from Fredrickson so I presume they have just passed it to 1st Credit.

I forgot to ask..... the letter says their client is Fredrickson/American Express.

Who are Fredrickson??

Definitely not made any payment since middle of 2003

OK - Thanks a lots guys/girls. will send tomorrow and post how I get on.

Fingers crossed.

I've had a second letter from 1st credit regarding a debt with Fredrickson/American Express. 1st letter came on 19th July chasing payment for the debt. 2nd letter came on 29th July stating legal proceedings and that it was my final opportunity to contact them. I have not spoken to or written to them. Pretty sure this debt dates back to 2002/2003. What should I do..... Ignore them or write back?

Any help greatly appreciated.

Thanks

This is the first time I've seen any mention of anyone deducting base rate tax from the statutory interest part of the refund - either with regard to mis-sold PPI or bank charges.

 

Admittedly, I'm no expert but it smells distinctly fishy to me. Isn't the idea of the statutory interest a court or the FoS might award to return you to something like the position you might have been in if the bank hadn't deprived you of your money? How is that going to occur if they start making deductions for tax?

 

And, more to the point, if this is legitimate then why weren't the courts deducting base rate tax when they awarded s.69 interest?!

 

I suggest you PM a site helper and ask them to take a look at this thread. Then if, as seems likely, it transpires RBS are taking the proverbial, I wouldn't hesitate to contact every media organisation out there. In the current climate, I'm sure they'd be very interested in this kind of story.

 

Fred_Funk

Thanks Fred,

How do I private message a site helper?

Thanks AA.

I'm going to ask RBS to provide the original details onthe loan. ie apr on loan, amount of ppi and apr on ppi and rebate figures. This in info that I have requested on numberous occasions in the past dating back to 4th March.

Does anyone know if RBS offered prorata refunds on ppi in 2003/2004 and also can they deduct base rate tax from the statutory interest part of the refund?

I’ve just had an offer letter from RBS (as a gesture of goodwill) and it was nowhere near what I was expecting.

Here it is in a nutshell

I took out an unsecured Personal loan for £15k in April 2003.

The total of the loan + interest and the ppi + interest was £21246 over 4 years. Monthly repayments were £443.

The statement is as per this table.

Withdrawn Paid in Date Balance

21246.00 30.4.03 21246.00DR

443.00 30.5.03 20821.00DR

443.00 30.6.03 20378.00DR

443.00 30.7.03 19935.00DR

443.00 1.9.03 19492.00DR

443.00 3.9.03 19935.00DR

443.00 11.9.03 19492.00DR

443.00 30.9.03 19049.00DR

443.00 30.10.03 18606.00DR

443.00 3.11.03 19049.00DR

443.00 1.12.03 18606.00DR

443.00 3.12.03 19049.00DR

443.00 30.12.03 18606.00DR

443.00 2.1.04 19049.00DR

443.00 30.1.04 18606.00DR

443.00 1.3.04 18163.00DR

443.00 30.3.04 17720.00DR

443.00 30.4.04 17277.00DR

443.00 1.6.04 16834.00DR

443.00 3.6.04 17277.00DR

443.00 30.6.04 16834.00DR

443.00 2.7.04 17277.00DR

443.00 30.7.04 16834.00DR

443.00 31.8.04 16391.00DR

443.00 30.9.04 15948.00DR

443.00 1.11.04 15505.00DR

2317.04 loan rebate 23.11.04

13187.96 23.11.04 NIL

I haven’t got the original paperwork and nor (so they say) have RBS. But from the loan statement I have got I have the following information. I received a loan rebate of £2317.04 and the refinance cost £13187.96.

Anyway, looking at RBS’s current cost of PPI on a £15k loan over 4 years I reckon the ppi part of the loan including the interest was about £4k. I’m also pretty convinced that they didn’t offer pro-rata refunds in 2003/2004.

Their offer (as a gesture of goodwill!) reads as follows:

‘The bank is prepared to refund the insurance premiums and interest that you have paid to 23 November 2004. This excludes the amount automatically credited to your loan account of £983.93 when the policy was cancelled. Our calculations show that you have paid a total of £2011.28 for the payment protection element of your loan. To this we have added as requested the statutory interest the Financial Ombudsman Service would grant. This is a gross amount of £710.42 after deducting basic rate tax this is an amount of £568.34. This means our total offer is £2579.62’

I was expecting an amount closer to £5500 - £6000 including the statutory interest.

Can anyone help me with this as I’m a bit confused by all the figures and I definitely don’t want RBS to wriggle out of paying the amount that they should pay.

I'm trying to help my girlfriend Put in a claim for mis sold PPI

She took out a personal loan with Lloyds internet banking in May 2005 for £16k. THe ppi on this was £3586.06

I'm trying to find out how to word the claim letter. As she applied on the internet I presume she must haev ticked the ppi box or does that happen automatically.

Can anyone help?

Thanks

thanks AA.

Can anyone else help with this??

Almost good news!! eventually found out from RBS that I only had PPI linked to one loan. They obviously cant find any of the original paperwork so they have upheld my complaint - I'm waiting for a calculation to come through from their PPI customer concerns team.

Does anyone know if they include stat interest automatically or do you have to fight for that?

Another important question I've got is that I have refinanced this loan 3 times since 2004 and because of the PPI ( approx £4k including interest) on the original loan I have been paying extra interest on the refinanced loans. Do I have an argument to claim back the interest that I've paid on this extra £4k on the refinanced loans?

Thank you and Good Luck!!

They've already had since 4th March to comply with my SAR and were playing silly buggers. I'm not going to bother with the FOS - going to go down the Court route and I've given them the standard 14 days until LBA and then another 14 days.

Good luck with yours!!

Thanks guys.

I sent the letter to RBS yesterday by Special Delivery.

I'll keep you infomred of any response I get and progress I make.

Take care

Thanks Alanalana - I read your thread with interest and great amusement. I see you've been dealing with the infamous Joyce Tudor as well.

I've decided, as they wont comply to my SAR to claim on an estimated amount.

I've used one of the template letters (see below). can anyone tell me if they think this is ok to send.

Thanks

The Royal Bank of Scotland xxxxxxx

xxxxxxxx xxxxxx

xxxxxxxxxxxx xxxxxxx

xxxxxx

xxxxxxx 18th July 2008

xxxxxxx

My Ref: xxxxxxx

Dear Ms xxxx,

Sort Code: xx-xx-xx

Current Account Number: xxxxxxxx

I believe I have been mis-sold a Payment Protection Insurance policy and would like to request a full refund of my premiums, plus interest paid.

Apart from my current loan with RBS, I have held at least 2 other personal loans with RBS since 2000, both of which had Payment Protection Insurance.

At the time I was experiencing short-term financial difficulties and I was told by ‘John …’ that the underwriter at RBS would not approve the loan unless I agreed to take out the insurance.

No claim was ever made under this policy.

I now realise following the recent OFT and FSA investigations, that you mis-sold me this insurance policy, which I did not want and did not need. I believe I signed up for the insurance under economic duress and that your actions were unconscionable.

Your responsibilities

I would draw your attention to the terms of the contract, which you agreed to at the time that I opened my account. It is an implied term of that contract that you would conduct yourselves lawfully and in a manner which complies with UK law.

I am frankly shocked that you have operated my loan accounts in this way as I had always reposed confidence in your integrity and expertise as my fiduciary.

Firstly, I understand that at the time I entered into the contract with you, your bank was running an incentive scheme to encourage your employees to sell PPI schemes, as were several other High Street banks.

I was not aware of this and even if it is untrue, I consider that there was a clear conflict of interest between your fiduciary responsibilities to me and the direct selling by your employees of PPI schemes, given the very large profit margins they generate.

No attempt was made to ascertain if the product provided was fit for purpose, suitable for my needs or if indeed if I really needed it at all. No inquiry was made as to whether I had preexisting insurance for accident, illness or unemployment. I was not given a copy of the insurance policy nor were any rights to cancel explained. I believe you manifestly failed in your fiduciary responsibilities, your duty of care.

Secondly, I understand under the Consumer Credit Acts and following a House of Lords judgment that you are not allowed to make a loan conditional on taking PPI unless you include the costs of PPI as part of the charge for credit and not the credit itself.

You did not do this. You added it to the total for credit and then charged me further interest on the premium on top of the interest for the loan. This is unacceptable.

Finally I believe insurance contracts are contracts uberrimae fidei (contracts of the utmost good faith) which imposes on you a “duty of disclosure of all material facts because one party is in a strong position to know the truth.” Inter alia, I believe that you should have disclosed to me that the type of policy you sold me, a single payment premium, did not give a pro-rata refund in event of early settlement. I believe you should have made it clear to me that the policy generated large profits for you. You failed to do this. I believe that you have also therefore failed in your duty of disclosure. Your failure to disclose is misrepresentation at common law.

What I require

Your concealment of the act of mis-selling has prevented me from asserting my right until now. I believe that there are strong grounds for action against you under common law, statute and consumer regulations.

As you are aware I wrote to you on 4th March requesting details on all personal loans I have held with RBS. Following extensive correspondence from you regarding my Subject Access Request you have said that you are unable to provide me with the details that I requested and therefore you have failed to comply with my Subject Access Request and you are in breach of the Data Protection Act 1998.

Because of this I have had to estimate the PPI that I have been charged which I have based on the current cost of your PPI schemes.

I require a full refund of all premiums, which I estimate to be £4500, and subsequent interest on these payments, that I have paid in relation to this policy. I also expect 8% interest to be added to each payment I have made, as this is the statutory amount a court would pay under S69 of the County Court Act.

My targets to resolve this matter

I hope that you will enter into a sincere dialogue with me about this matter and I am writing this letter to you on the assumption that you will prefer to do this than merely respond with standard letters and leaflets. I will give you 14 days to reply accepting, unconditionally, my request in principle and letting me know a date by which I will receive payment.

If you do not respond, or you do not respond positively, within this time period, I shall send you a letter before action giving you a further 14 days in which to reflect. I believe that this time frame is sufficient for a large company such as yours with its dedicated staff and departments. After that, there will be no further communication from me and I shall issue a claim through the courts at the expiry of the second deadline.

Yours sincerely,

xxxxxxxxxxxxxxxxxxxxx

I've banked with RBS since 1991. Since 2000 I've had 3 loans including my current one - basically I've refinance them. The 2 closed loans had PPI. I sent a SAR to RBS on 4th March. Since then there have been loads of letters going back and forth and they have provided lots of info - no of which I had asked for or was relevant. Their latest letter says that they cant provide info on the 2 closed loan accounts without the accounts numbers. All my loans have been linked to my current account which I've had for 17 years. I'm now am at a loss of knowing what to do. Should I complain to the Information Commissioner (which could take months) or make a couort claim for an estimated amount for a PPI refund.

Can anyone advise please - Thanx

OK I've worked out that B'card owe me £300 in charges and £310 in interest going back to 2001. In the prelim letter how do I word the interest bit I'm claiming as it's not overdraft interest. Also to I send the prelim to Barclays H/O or is there a different address for Barclaycard.

Thanks

Hello,

I'm just about to start a smal claim against BC. The account is now closed and is now in the hands of a firm called HLCF Ltd. I am paying the debt off monthly. Can anyone tell me how to calculate Contractural Interest.

Thanks

PS Popped home at lunchtime - that's why I have suddenly got the offer letter!!!!

Having gone through my statements again, although it doesn't make it very clear as they're not broken down individually, I think they're right and I've added the monthly account fees onto my claim. Cant really tell what the amount is exactly but it looks like it may be about £400 and they have deducted £480 from my claim ie from £3727 to £3247.

Anyway so I am going to accept their offer. By accepting does it mean that I agree to any future charges. It says in Sandy's letter - quote:

"Any charges that properly accrue in the future will be applied to your account in line with our published tariff and in accordance with your agreement with the bank. Should you be unwilling to accept any such charges, then we may need to consider if we are prepared to continue to provide you with your existing banking facilities. Instead we may offer you a simple account that does not offer borrowing facilities or other services that can result in charges"

I'm surprised that they didn't put up more of a fight as it's only been a month since my prelim!!

I would hang fire for the written offer and see exactly what they are offering. We got all our charges back from RBOS before going to court stage, when I turned down their first partial offer via letter and gave them a bit of extra time prior to starting the court claim. They wrote back with a full offer, but we didn't get any interest.

ali x

OK. Will do. Thanks Ali

Yes mate it is:

Sandy.Watt@rbs.co.uk

Thanks.

I live in England. My claim was for £3727 in charges and in my prelim letter (being a novice) I put in about the 8% interest blah blah.

I now know that you cant claim this unless you start court proceedings.

I emailed Sandy this morning to ask details of the offer as you cant rely on the post and timescales are tight etc. etc...

Her reply was:

Offer is for £3,247

Please be advised that there is a covering letter with our offer, advising

customers which type of charges are being refunded by the Bank. Should you

decide to decline our offer, then you will need to advise us in writing. We

have standard procedures to deal with customer who decline our offers.

As a result, I am unable to accept an e-mail as a decline of our offer.

Regards

Sandy

Dont really know what to do as I think I may have included some of the monthly account charges for the priviledge of having a Royalties Gold Account with them !! (NOT)!! Does anyone know what their standard procedures of dealing with non conforming customers are?!!

I've just received this email from the lovely Sandy Watts.

Dear Mr XXXXXX

I am pleased to advise you that, an offer letter was despatched to you

yesterday.

All being well, this should be in your hands in the next couple of days.

Regards

Sandy

I think I might start taking bets on the fact the the offer wont be my full claim. The odds that I'd offer would be 33/1!!

Anyone else received any offers recently (before court proceedings)?