I'm hoping someone who knows what they are doing can help with some advice, on the next steps I should take in relation to my complaint for mis-sold PPI on a Credit Card with NatWest.
I've received a Final Decision letter from RBS which upheld my complaint, and making me an offer in redress.
I was a slightly confused as to how they had arrived at the figure, and so contacted them to request a breakdown of their calculations, particularly in relation to the compound interest part.
I've attached a word document (Letter From RBS NatWest.doc) which contains the wording I received in response, along with their "breakdown", which to me seems to be of little help in providing clarification.
Now that they have finally told me (it wasn't mentioned in the original Final Decision Letter) that they are "guessing" at some of it as they do not hold the data further back than 2001,
I'm planning on providing further evidence in the form of some extra statements that I have found for months prior to that date. Whilst not fully completing the picture, hopefully it will help them to come to a more exact calculation.
I've also attached a spreadsheet detailing all the amounts that are known, and where there are unknowns (those cells highlighted yellow, for months marked with an 'x' in column A) I've added in a nominal calculated figure to make the sheet work throughout.
I'd appreciate it greatly, if someone could take a look at the spreadsheet to firstly check that I've completed it and the compound interest and statutory interest is worked out correct, and if so, then secondly that the numbers that I've added make sense, and are suitable, or if I should do something else to fill in the blanks.
Finally, I noticed that on the spreadsheet that the interest stops accruing whenever no monthly payment is made for PPI (I finally got them to cancel it after a long fight earlier this year), and I wondered if someone can just confirm that this is right, or if the interest would continue whilst the credit card is still in force and the whle sorry tale has finished?
Thanks in advance for your help.