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detritusuk

PPI Claim RBS - Loan from 2003 (Scotland)

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Hello,

 

I am providing this as a reference point for others that may be considering claiming back PPI money from the Royal Bank Of Scotland.

 

Back in 2003, I was pushed into taking out a loan to cover a student royalties overdraft despite the fact that there was an extension to my studies to complete the course. As far as the bank was concerned, it was calling in the debt.

 

My account had been frozen and I was concerned that I had no bank facility, so I agreed.

 

There was an overdraft value of just under £1500. And its all a blur in hindsight as to what was agreed but I had believed that I had only taken out a standard loan for 3 years without any extras.

 

Not having made one of the first payments I recieved a letter notifying me that I would have to pay the sum in full - around £3,200.

 

I got back on track with the loan immediately after and was paying by instalments which finished in Nov 2008 (transpired I had been on a 5 year term).

 

I never received any documentation ,nor was I given any to take with me, so to look back on this over 5 years meant I had very little to go on.

 

I was inspired by a friend of mine who had been successful with his claim with his bank for a loan from HBOS.

 

I decided that the amount I was expected to pay back was too high not to have included PPI. Even though I didn't have a breakdown to say what the breakdown of the loan was.

 

I sent a standard template to request repayment and see what would happen.

 

After this, I received a letter 2 weeks later telling me that my complaint was being investigated.

 

Later, I received another letter two weeks after that saying that they had calculated that the value I had paid on PPI was £721 and that they would pay this as a "goodwill gesture". They also admitted no liability and believed that there was no evidence to suggest that the proper procedure hadn't been followed. On the one hand I felt that I would want to argue on principle to ensure that those involved would follow proper procedure in future. However I believe that they would never ever admit liability and I should juts sign their waiver and accept the money. After all I lacked a lot of information that would be able to prove otherwise.

 

At the moment I am waiting for this to be credited to my account. 8 days has passed since I posted the details back to them. I will conclude this thread to say when this has been credited.

Edited by detritusuk

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Hello,

 

I am providing this as a reference point for others that may be considering claiming back PPI money from the Royal Bank Of Scotland.

 

Back in 2003, I was pushed into taking out a loan to cover a student royalties overdraft despite the fact that there was an extension to my studies to complete the course. As far as the bank was concerned, it was calling in the debt.

 

My account had been frozen and I was concerned that I had no bank facility, so I agreed.

 

There was an overdraft value of just under £1500. And its all a blur in hindsight as to what was agreed but I had believed that I had only taken out a standard loan for 3 years without any extras.

 

Not having made one of the first payments I recieved a letter notifying me that I would have to pay the sum in full - around £3,200.

 

I got back on track with the loan immediately after and was paying by instalments which finished in Nov 2008 (transpired I had been on a 5 year term).

 

I never received any documentation ,nor was I given any to take with me, so to look back on this over 5 years meant I had very little to go on.

 

I was inspired by a friend of mine who had been successful with his claim with his bank for a loan from HBOS.

 

I decided that the amount I was expected to pay back was too high not to have included PPI. Even though I didn't have a breakdown to say what the breakdown of the loan was.

 

I sent a standard template to request repayment and see what would happen.

 

After this, I received a letter 2 weeks later telling me that my complaint was being investigated.

 

Later, I received another letter two weeks after that saying that they had calculated that the value I had paid on PPI was £721 and that they would pay this as a "goodwill gesture". They also admitted no liability and believed that there was no evidence to suggest that the proper procedure hadn't been followed. On the one hand I felt that I would want to argue on principle to ensure that those involved would follow proper procedure in future. However I believe that they would never ever admit liability and I should juts sign their waiver and accept the money. After all I lacked a lot of information that would be able to prove otherwise.

 

At the moment I am waiting for this to be credited to my account. 8 days has passed since I posted the details back to them. I will conclude this thread to say when this has been credited.

 

 

You should take time out to read all of the information in the stickies at the top of the forum.

 

They will help you to a get all of the information on your loan and PPI added and show you the way to reclaim it all back. If you have had a goodwill gesture you can be sure it is because it is saving the RBS some Money. If you gather the information and claim through the FOS my guess is you will receive more than has been already offered.

 

aa


I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner.

------------------------------------------------

Bank charge successes:

Halifax - Full settlement incl interest.

HSBC - Settlement, goodwill no admission of liability about 75% of claim.

RBS - Settlement, goodwill no admission of liability about 70% of claim.

2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did :mad:

PPI Successes

PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.

2 claims settled in full with LV without FOS involvement.

2 claims settled in full with HSBC without FOS involvement

 

PPI Claims ongoing with:

Cap one Now with the FOS

Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.

LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc

 

1 Complaint not upheld by FOS they said it was ICO issue. Complaint upheld by ICO. See this..

Post 290 from

***RBS PPI Claim Long fight but, WON***

 

Please do not PM me for advice as it may be sometime before I can respond.

 

Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.

 

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