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RBS - PPI Claim


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Ten weeks ago a relative sent away a claim for PPI to RBS this was for a loan they had taken out in 1999/2000.

 

They received a reply after four weeks exactly asking for more time then 4 weeks after that they received another letter from them asking of rmore tidme to complete their investigation.

 

The last letter was 2 weeks ago asking for more time (in total 10 weeks since first letter) and he still has not heard anything from them so he phoned them on Friday 9/4/10 to be abruptly told that if he wasn't happy to go to FOS as he may get nothing.

 

Could anybody help to comply a letter to bank at this stage as we are not very good at writting letters of this nature and tend to just go along with them as we are not sure what to do next.

 

Can anybody help with the next stage.

 

Many thanks in advance for any help you can give.

AFW

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Personally I would contact the FOS (Financial Ombudsman Service) as your bank has now passed the 8 weeks allowed to investigate a complaint.

 

The link to their website is Financial Ombudsman Service I suggest you give them a ring and explain your circumstances and they will send a complaint form for you to fill in and return with copies of all correspondence between yourself and your bank.

 

The FOS do take quite some time to investigate your complaint due to the number of complaints they receive every week, but on the up side it costs you nothing and if you are not happy with their final decision you can still take this to court if you wish.

 

Hope this helps

DJ1971

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  • 2 weeks later...
Ten weeks ago a relative sent away a claim for PPI to RBS this was for a loan they had taken out in 1999/2000.

 

They received a reply after four weeks exactly asking for more time then 4 weeks after that they received another letter from them asking of rmore tidme to complete their investigation.

 

The last letter was 2 weeks ago asking for more time (in total 10 weeks since first letter) and he still has not heard anything from them so he phoned them on Friday 9/4/10 to be abruptly told that if he wasn't happy to go to FOS as he may get nothing.

 

Could anybody help to comply a letter to bank at this stage as we are not very good at writting letters of this nature and tend to just go along with them as we are not sure what to do next.

 

Can anybody help with the next stage.

 

Many thanks in advance for any help you can give.

AFW

 

Straight to the FOS IMO here is a link for the complaints form...

 

http://www.financial-ombudsman.org.u...omplaints.html

 

this was my fight with RBS use anything you can to help your own fight

 

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

 

good luck

 

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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  • 2 weeks later...

Hi

Eventually I have been able to get on Computer been having withdrawal symptoms (Comp been playing up - virus) and let you know update.

 

Brother in Law received an offer for PPI Insurance claim of £201.02. The Royal Bank of Scotland said this was all premiums + interest that was paid to the loan from 15/4/2002 - 9/1/2003 when he refinaced. When he refinanced there was a loan rebate but nothing to say that there was an Insurance Rebate, would this be included in the Loan Rebate ?

 

We intially claimed £338.00 from 15 April 2002 which we calculated at £4240.04 including 17.5% interest and 8% Interest over the period from 15th April 2002.

 

They also stated that they on this occasion are satisfied that B in L had been provided with full information about policy how it works and signifcant esxclusion which would have allowed B in L to make an informed decision to take out PPI. They also stated this policy was cancelled but he didn't actually cancel the policy he refinanced does this make a difference ?

 

They have now said we can go to Ombudsman but would we be wasting our time as the loan was intially taken out April 2002 (8 years) is this outwith the time barrier.

 

Please can anybody advise us what to do. Brother in Law too ill to go to court.

 

Dilemma here is does he take the meansly offer (£201.02) or go to FOS

 

Reasons why he should not have had this Insurance was:

 

Didn't realise that the 17.5% interest was added to Insurance.

Didn't realise that sickness claims were limited to 12 monthe (Works had a 12 month sickness Plan)

 

Was led to believe if we didn't take Insurance out tehn we wouldn't get the loan.

 

HOWEVER OUR DILEMMA NOW IS, IS IT WORTH GOING TO FOS, AS THIS LOAN WAS TAKEN OUT IN 2002.

 

Any advice would greatly appreciated.

Cheers

AFW

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ok lets clear one thing up

there is NO time limit for PPI reclaims

under sec 32c of the Limitation Act it ticks from you became AWARE of the wrong doing.

 

now, pers i'd SAR them first before you go tothe FOS

lets see what this refinance involved, i bet it got rolled over int on int PPI on PPI.

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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As DX says, might be worth going the SAR route.

 

To save time you could get your brother-in-law to ring the RBS PPIConcerns office in Manchester (number will be on his letter) and ask for the total cost of the PPI (excl and incl interest) and how much rebate he was given when he refinanced. They gave me the values over the phone.

 

This seems to be the area where RBS are quite clever, they offer a refund of premiums paid. The big difference comes in the rebate applied is much less than you would expect but they don't offer to make up this shortfall. They never tell you how much your rebate is and they have used s78 (I think, not that knowledgeable) and so you end up with a paltry rebate.

 

Hope i haven't confused you, someone might be able to explain it more clearly.

 

Good luck!!

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Hi dx and dec22

 

Many thanks for your fast replies (greatly appreciated). We have SAR’d Royal Bank of Scotland (month ago) and they said they could only give us a loan statement as they only retained 6 years paper work and the paperwork for this loan would have been disposed off.

The statement only gave monthly payment amounts and dates and Loan Rebate amount.

Luckily my Brother in Law had kept his original loan agreement but had no Insurance Paperwork. Seemingly RBS couldn’t provide a copy of this agreement but they could remember that they said they had advised my B in L correctly regarding PPI in 2002 (the mind boggles).

When you say lets see what refinance involved I bet it got rolled over int on int PPi on PPI could you please try and explain what I am looking for in the paperwork. Wish I had half of some of the peoples knowledge on here I wouldn't say I am completely stupid but I am finding it hard to grasp this PPI system.

Also they have had this money for 8 years are they not entitled to pay interest on it as the have deprived B in L all these years of this money.

Cheers

AFW

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If total PPI was £4000 and payments totalled £500. Rebate given might only be c£2500 and the £1000 stays with the RBS because of the favourable rules used to apply the rebate.

 

You need to find total PPI in the first instance less rebate received (all exl interest to make it easier) and that is what you are after plus interest. You want to be put back in the position as if there wasn't any PPI.

 

They are really difficult over this and genrally only refund payments made incl relevant interest. I haven't heard of anyone getting the 8% interest unless it has gone through the FOS.

 

If the numbers aren't clear from your docs then give them a ring, as I said I found them quite helpful.

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Hi dx and dec22

 

Many thanks for your fast replies (greatly appreciated). We have SAR’d Royal Bank of Scotland (month ago) and they said they could only give us a loan statement as they only retained 6 years paper work and the paperwork for this loan would have been disposed off.

- i would press them for a certificate of destruction, typically this is used as an excuse to hide things...

 

The statement only gave monthly payment amounts and dates and Loan Rebate amount.

 

Luckily my Brother in Law had kept his original loan agreement but had no Insurance Paperwork. Seemingly RBS couldn’t provide a copy of this agreement but they could remember that they said they had advised my B in L correctly regarding PPI in 2002 (the mind boggles).

- usual denial tactics

 

When you say lets see what refinance involved I bet it got rolled over int on int PPi on PPI could you please try and explain what I am looking for in the paperwork.

- diff to say, you SHOULD have been rebated the old PPI+ ins interest charged. i dont know if that will show on the new loan, but it would be useful to scan up the agreement[s?] he has it.

Wish I had half of some of the peoples knowledge on here I wouldn't say I am completely stupid but I am finding it hard to grasp this PPI system.

 

Also they have had this money for 8 years are they not entitled to pay interest on it as the have deprived B in L all these years of this money.

- yes you can claim 8% stat from the date of each PCM PPI payment to the date of your claim.

 

Cheers

AFW

 

also this might help:

 

http://www.consumeractiongroup.co.uk/forum/payment-protection-insurance-ppi/61081-ppi-some-notes-claimants.html

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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