RBS PPI Settlement offer

[lee32uk]

Hi everyone

 

I have received a letter from the FOS today telling me that RBS have agreed to settle my PPI claim on a goodwill basis.

I am currently in dispute with them over my credit card, and the CCA they sent me, which i think is unenforceable (I have a thread in the RBS section about this).

 

The card currently has a balance of approx £4000, so my questions are:

 

1)Will they take the claim off my card balance ? (which i dont want), or can i ask them to pay me by cheque?

 

2)The letter (see below) doesnt tell me how much i will be getting, but states it will be a full and final offer How can i accept it if i dont know the amount ?

 

3) I havent sent a SAR request to RBS so i have no way of finding out what they owe me, as the deadline for me to accept the offer is 7th April.

 

4) Would i be better to wait for the FOS to carry out there full investigation ?

 

 

Thanks for any advice

Lee

 

 

 

 

[alanalana]

Hello lee,

 

Hi everyone

 

I have received a letter from the FOS today telling me that RBS have agreed to settle my PPI claim on a goodwill basis.

I am currently in dispute with them over my credit card, and the CCA they sent me, which i think is unenforceable (I have a thread in the RBS section about this).

 

The card currently has a balance of approx £4000, so my questions are:

 

1)Will they take the claim off my card balance ? (which i dont want), or can i ask them to pay me by cheque?

 

2)The letter (see below) doesnt tell me how much i will be getting, but states it will be a full and final offer How can i accept it if i dont know the amount ?

 

3) I havent sent a SAR request to RBS so i have no way of finding out what they owe me, as the deadline for me to accept the offer is 7th April.

 

4) Would i be better to wait for the FOS to carry out there full investigation ?

 

 

Thanks for any advice

Lee

 

Having been through a nightmare with RBS I would suggest the following.

 

Firstly state you will not settle until they supply you with the actual amount you will be refunded with written confirmation that the refund will be paid to you by a personal cheque and not deducted from any outstanding balance on the card.

 

I settled without knowing the actual figures on advice from the FOS but it would be better if you had a figure as then you can decide to accept the adjudicators decision or turn it down and ask for the Ombudsman to become involved (this will extend the time of your complaint but it may make RBS come up with the offer you want) ie how much and by cheque payment only.

 

hope this helps

[lee32uk]

Thanks for the reply alanalana

 

Do you think it would also be a good idea to send them a subject access request?.I know it could take up to 40days to get my statements but if i reply to the FOS just before the April 7th deadline then hopefully i might get the info back from RBS before the FOS reply back to me.

 

 

 

many thanks

Lee

[alanalana]

Hello lee,

 

Thanks for the reply alanalana

 

Do you think it would also be a good idea to send them a subject access request?.I know it could take up to 40days to get my statements but if i reply to the FOS just before the April 7th deadline then hopefully i might get the info back from RBS before the FOS reply back to me.

 

 

 

many thanks

Lee

 

Once you have decided you have a sound case for reclaiming and the majority of people have a sound case. Then I always advise a Subject Access Request is submitted. Remember to send the statutory fee of £10.00

 

1. This shows you want all of the applicable data the bank holds on you as a data subject and that you mean business.

 

2. It can throw up all sorts of information that the bank has stored away about you but that you are probably not aware of.

 

3. It enables you to back up your claim for mis-selling in a lot of cases as the banks cannot supply the relevant information, and remember if you are reclaiming ppi as mis-sold it is up to the bank to prove otherwise.

 

4. Keep at them remember £10.00 fee gives some of their remaining employees something to do for a few hours or even days.

 

aa

[lee32uk]

thanks again alanalana

 

lee

[lee32uk]

Hi all

 

I have draughted up a letter to send to the FOS re there above letter.

 

 

Financial Ombudsman Service,

South Quay Plaza,

183,Marsh Wall,

London.

E14 9SR

30 March 2009

Dear Mr Fleming,

REFERENCE : XXXXXXXX

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 there offer until they can clarify a few issues.

1) As they are offering this as a full and final settlement i would need to know the sum of money involved before i could accept.

2) I would also need written confirmation that any money paid to me would be by cheque only, and not to be taken off any remaining card balance.

3) I am also sending the bank a subject access request, so that i can cross reference the banks offer against what is 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 can come back with a positive response.

I look forward to hearing from you soon.

Yours sincerely

 

 

 

 

 

Does this look ok ? Anything i need to add or ammend ?

 

 

 

thanks

Lee

[lee32uk]

There is one other thing i have just realised.When i originally received the credit card from RBS it was there standard mastercard.Then sometime down the line they sent me a brand new card which was a gold card.Both cards had completely different numbers, so in effect i have had two different account numbers with RBS for the one agreement.

When i send them a SAR do i need to give them both account numbers ? Im not even sure i have the original one, or by giving the present account will this give me all the statements from day one (2003) ???

 

Thanks

Lee

[alanalana]

Hello lee,

 

There is one other thing i have just realised.When i originally received the credit card from RBS it was there standard mastercard.Then sometime down the line they sent me a brand new card which was a gold card.Both cards had completely different numbers, so in effect i have had two different account numbers with RBS for the one agreement.

When i send them a Subject Access Request do i need to give them both account numbers ? In a word NO Give them the original account number only and let's see what the provide under the SAR. Make them do the work Im not even sure i have the original one, That is where the SAR comies into it's own. or by giving the present account will this give me all the statements from day one (2003) ??? If you supply the present account you are doing their work for them. You send SAR on the original and see what they come up with. Their response could be interesting;)

Thanks

Lee

 

aa

[alanalana]

Lee I have responded out of order of you posts,

 

Financial Ombudsman Service,

South Quay Plaza,

183,Marsh Wall,

London.

E14 9SR

 

 

30 March 2009

 

Dear Mr Fleming,

 

REFERENCE : XXXXXXXX

 

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 look forward to hearing from you soon.

 

Yours sincerely

 

I know I have knocked it about a bit but if you are happy with the changes ok it is only a suggestion.

 

aa

[lee32uk]

Thank you very much for the replies alanalana

 

The ammended letter is excellent thanks.

I have managed to find an old card statement from 2005 which has the original credit card number, so game on and as you say it will be interesting to see what they come back with.

 

 

kind regards

Lee

[42man]

Some good advice from alanalana, a SAR might be a very good idea - try this one and edit as required - http://www.consumerforums.com/resources/templates-library/86-debt-collectors/576-subject-access-request-debt-a-dca.html

[42man]

My feeling is get the PPI claim sorted out ASAP, as there is every chance they will offset against any debt (whether you ask for a cheque or not)...(you seem to have done all the right things so far) but it seems crazy they haven't quoted a figure....(which you have obviously adressed in your letter above). Keep us posted....

[lee32uk]

Thanks 42man

 

got both my SAR and letter back to the FOS ready to post in the morning......watch this space

 

 

cheers

Lee

[Hugh Jarse]

Sorry to highjack the thread, but 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?

 

Any help will be greatly appreciated.

Edited April 1, 2009 by Hugh Jarse

[alanalana]

hello hugh,

 

if you start your own thread it will lead to less confusion and you can more easily follow the responses to your own case.

 

[Hugh Jarse]

hello hugh,

 

if you start your own thread it will lead to less confusion and you can more easily follow the responses to your own case.

 

 

Done

[lee32uk]

Had a reply back today from the Ombudsman.Not really sure what to make of it, as it doesn't entirely answer my previous letter.

 

 

 

 

Should i just accept ? or anyone have any other suggestions

 

 

thanks

Lee

[lee32uk]

anyone help with the above :-?

 

thanks

[alanalana]

Hello lee,

 

The FOS may not have been given the actual settlement figure. If you accept and then feel the amount is less than you should have been offered the you can as the FOS stated write to RBS asking them to provide details on how they arrived at the settlement figures. If you then dispute the information back to the FOS with another complaint enclosing the details supplied by RBS.

 

On my one of my claims I said I was not happy to sign a settlement form without knowing how much was being offered and the FOS then sent me a copy of the offer that RBS had made to the FOS. On my second claim I had the same problem as you seem to be having I accepted but insisted on a full breakdown of how they worked out the figures.

 

It's your call;)

 

aa

[lee32uk]

Thanks for that alanalana

 

I think i will send the form back to them and see what they come up with.I plan on comparing any offer against the statements from my SAR when i receive it.

Also can't wait to see what CCA they come up with, regarding my original account number

 

cheers

 

Lee

[havinastella]

Hi Lee,

 

I'm a few weeks in front of you.

 

I actually rang the FOS and asked exactly the same as you.

 

They state that they (FOS) give the formula that the banks should use

 

Monies paid

Compound Interest

S69 Interest (8%)

 

and the banks SHOULD follow this formula.

 

As you have no idea what you have paid, I'd get the SAR off yesterday

 

The FOS also informed me that in you at any time were not satisified, they would take the claim back on and deal with Bank.

 

 

Hope this helps

 

 

Jogs

[alanalana]

Thanks for that alanalana

 

I think i will send the form back to them and see what they come up with.I plan on comparing any offer against the statements from my Subject Access Request when i receive it.

Also can't wait to see what CCA they come up with, regarding my original account number

 

cheers

 

Lee

 

Lee what timescale did they give you for accepting the offer?

 

If there is plenty of time to run before you have to accept it may be worthwhile waiting to see what your SAR turns up. You will as posted earlier still be able to go back to the FOS and complain that any offer does not truly reflect the amounts you have paid and you should in fact get back all of your premiums plus the interest. The FOS may well have also told them to add on the 8% statutory as they did with mine.

[lee32uk]

Hi jogs

 

Thanks for the reply.

 

I have already sent off my SAR.They have until 12th May before the 40days is up.Im hoping they might reply before this.

I just hope they dont mess me around too much....maybe wishful thinking though

 

cheers

Lee

[lee32uk]

Hi alanalana

 

They have given me until 20th April to reply.I dont think that RBS will have replied to my SAR by then, but you never know.

Im hoping they will offer me the full amount back, but i suppose it's more likely that they will offer a percentage.

I will send the form back to the FOS and then take it from there.

 

Thanks for all the help

 

cheers

Lee

[lee32uk]

Hi everyone

I have received a Default notice from RBS for my credit card account (See link below)

 

http://www.consumeractiongroup.co.uk/forum/royal-bank-scotland/183872-enforceable-cca.html#post2112047

 

Will this affect my PPI claim in any way ? as i am still waiting on my SAR.If they go ahead and terminate the agreement will they still have to comply with the SAR ?

 

Just want to make sure im doing everything right

 

thanks

Lee