Loanguard PPI Refund

[moneybackpleasenow]

I am looking for genuine advice , been on this great site a lot , loads of interesting reading , and its time for the working class to fight back against the toffee bankers !!!

 

This is my first post so here goes ... i had a loan with RBS 2004-2009 for £10k , complete with loanguard insurance ,which i believe was mis-sold cos i didn't know you could buy stand alone insurance,or that it was added at time of loan before the interest was added.i cancelled the insurance after 23 months and got my repayments for the remainder of the 60 month loan reduced .i have since written to COMPLAIN to RBS 8 weeks ago and been allocated a case manager to reclaim ALL the loanguard (PPI) back cos it was mis-sold.they said they're taking it serious and would hope to have it resolved in 8 weeks, now expired,with an update after 4 weeks.well like i said the 8 weeks have passed and i had no correspondance after the 4 week stage.

i should also point out that the PPI i did pay was front loaded using rule 78 so i paid a lot of PPI in those first 23 months.

i did metion in my complaint letter to them i would report them to the Financial Ombudsman .

 

Where do i go from here ?

[rebel11]

Hi money

 

I would send them a reminder giving them 14 days to respond, as well as lodging a complaint with the FOS. Just give the FOS a ring tomorrow, get a reference number that you can write in your chase letter to RBS. Send the letter Recorded. The FOS will start their process straight away.

[moneybackpleasenow]

in my reminder letter to rbs should i tell my case manager i've reported them to fos and confront them them about no letter after 4 weeks or 8 weeks

[rhos123]

in my reminder letter to rbs should i tell my case manager i've reported them to fos and confront them them about no letter after 4 weeks or 8 weeks

 

do indeed inform your case manager you have lodged a formal complaint with the fos

[moneybackpleasenow]

i've not replied yet to FOS but RBS been in in touch and offered me £ 2,200 but it's full and final . they say its gesture of goodwill and will refund with interest but i don't think they've added the interest .surely they're not still trying to fob off customers

[moneybackpleasenow]

Due to financial reasons I've accepted the offer .....but should I reply to the FOS ? Any ideas welcome

[chrissy51]

Loan guard is a rip off I took out a loan in Sept 06 and in June 08 was declared permanently unfit to work . I had to go to yhe onbudsman fr help Their finding "the documents state only certain conditions are covered - epilepsy is not one of them so while Loanguard have to pay until sept of next year ( the 5 year point) since I am lucky enough to be alive that is the limit I took the loanguard out thinking if a doctor said I woukd never work again it would be paid ! I still don't know how I will make payments of 400.00 per month on a 550 pension and still pay all my other bills ! Also I informed them I would be moving out of the country and they troied to say the small print says if I do they don't pay ! To say I am dissappointed is [utting it very mildly .