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PPI Refund Refused (Scottish Customer)


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At the beginning of the year I successfully claimed 2 PPI insuranced I had with RBS, 1 was credited to an existing loan I have with RBS and 1 was credited to my royalties account.

 

At present I have a fixed payment arrangement with RBS to pay back existing debts

 

1 x Peronal Loan

1 x Business Overdraft

1 x Business Credit Card

 

The PPI that was credited to my Royalties account brought that account into credit, of which I asked them to send me a cheque for.

 

I also wrote to them regarding bank charges on Royalties Account and Business Account, I wrote to them explaining my circumstances at the time and used the hardship template found on CAG website.

 

I received a reply today regarding both issues which is as follows:-

 

Our understanding of your complaint to the Bank.

My understanding of your complaint is that you believe are are due a refund of £xx.xx being the credit balance on your royalies gold account and you are seeking a refund of charges on that account and your business account.

 

Details of the investigation carried out and our findings

I have thoroughly invetigated your complaint. From my review of the Bank's records I see that you still have substantial liabilities on both your flat rate loan and on your business overdraft. The bank has a legal right of set off over any credit balance maintained and consequently is looking to the credit balance in reduction of those two liabilities. Therefore a refund of the credit balanace is entirely inappropriate.

 

As regards the charges applied to both accounts there are correct and in accordance with the Bank's published tariff and the Bank does not consider that a refund is appropriate.

 

They have given me the option to refer the complaint to the FOS.

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Did you get the correct level of refund on these PPI policies??

 

This is what should happen and is what the judicial review is about- http://www.fsa.gov.uk/pubs/cp/cp09_23.pdf

Any advice given by me is based solely on my experience in claiming, my experience in CAG or my opinion. I have no legal background. I want to encourage others to reclaim what is theirs.

 

Got a DCA breaking OFT guidance. Complain to the OFT about the DCA. Help put an end to these practices-

 

http://www.consumeractiongroup.co.uk/forum/letter-templates/155095-complain-oft-about-unfair.html#post1652270

 

Register with CAG today, its free, its a great community:

http://www.consumeractiongroup.co.uk/forum/register.php

 

[email protected].

 

 

 

Thankyou Kennythecelt:)

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Did you get the correct level of refund on these PPI policies??

 

This is what should happen and is what the judicial review is about- http://www.fsa.gov.uk/pubs/cp/cp09_23.pdf

Any advice given by me is based solely on my experience in claiming, my experience in CAG or my opinion. I have no legal background. I want to encourage others to reclaim what is theirs.

 

Got a DCA breaking OFT guidance. Complain to the OFT about the DCA. Help put an end to these practices-

 

http://www.consumeractiongroup.co.uk/forum/letter-templates/155095-complain-oft-about-unfair.html#post1652270

 

Register with CAG today, its free, its a great community:

http://www.consumeractiongroup.co.uk/forum/register.php

 

[email protected].

 

 

 

Thankyou Kennythecelt:)

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1st one was a refund of £59.55 + £3345.99, which was for a £10,000 loan between 2001 & 2006 total loan amounted to £17,000 of which I paid off early by getting another loan.

 

2nd Refund was £671.79 (cancellation) PPI Element was £1358.25 again for a £10,000 loan from 2006 - present - total loan is £15,000 (still paying it off - have a direct payment arragement with them due to financial difficulties).

 

To be honest I am not sure if I did get a correct refund, but I did sign and accept their offers - Jan 2010.

 

Any thoughts on what I do about the Bank Charges?

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Sorry, maybe I need to explain myself better.

 

Did you do the calculation or did the bank do it?

 

What calculation was used for each policy, including what interest was applied?

Any advice given by me is based solely on my experience in claiming, my experience in CAG or my opinion. I have no legal background. I want to encourage others to reclaim what is theirs.

 

Got a DCA breaking OFT guidance. Complain to the OFT about the DCA. Help put an end to these practices-

 

http://www.consumeractiongroup.co.uk/forum/letter-templates/155095-complain-oft-about-unfair.html#post1652270

 

Register with CAG today, its free, its a great community:

http://www.consumeractiongroup.co.uk/forum/register.php

 

[email protected].

 

 

 

Thankyou Kennythecelt:)

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OK, no problem, I understand now. Whilst I used to trust banks, I no longer do.

 

I think the first approach is to ask them for the calculations used in determining what refund you got for each policy so you have a better understanding if its correct or not.

 

In tandem with that, you could post details of each policy up here with all the details needed to do the calculation. This includes loan amount, ppi amount, interest rates, date of loan, date of settlement, amount of settlement, loan duration.

 

I can't do the calculations but there are skilled folk on here that can. That should help you quite a bit.

 

Did you accept this as a full and final settlement BTW?

Any advice given by me is based solely on my experience in claiming, my experience in CAG or my opinion. I have no legal background. I want to encourage others to reclaim what is theirs.

 

Got a DCA breaking OFT guidance. Complain to the OFT about the DCA. Help put an end to these practices-

 

http://www.consumeractiongroup.co.uk/forum/letter-templates/155095-complain-oft-about-unfair.html#post1652270

 

Register with CAG today, its free, its a great community:

http://www.consumeractiongroup.co.uk/forum/register.php

 

[email protected].

 

 

 

Thankyou Kennythecelt:)

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My above post crossed with yours- apologies.

 

In view of the result of the test case, I don't personally see any mileage in reclaiming bank charges at present, except in cases of proven hardship. Do you believe you qualify for hardship- why?

 

The bank are correct in using the amount of PPI refund to set against any debt owed to them, I'm afraid.

Any advice given by me is based solely on my experience in claiming, my experience in CAG or my opinion. I have no legal background. I want to encourage others to reclaim what is theirs.

 

Got a DCA breaking OFT guidance. Complain to the OFT about the DCA. Help put an end to these practices-

 

http://www.consumeractiongroup.co.uk/forum/letter-templates/155095-complain-oft-about-unfair.html#post1652270

 

Register with CAG today, its free, its a great community:

http://www.consumeractiongroup.co.uk/forum/register.php

 

[email protected].

 

 

 

Thankyou Kennythecelt:)

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No probs,

 

With regard to the charges, I definately do think I qualified under hardship, last year I defaulted on the loans due to no work (I am self employed) and OH being made redundant - our financial situation changed dramatically and still is, basically couldn't afford to pay the loan, business overdraft and business credit card.

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OK try the hardship route again and do research on it ie on other successful folk using hardship.

Any advice given by me is based solely on my experience in claiming, my experience in CAG or my opinion. I have no legal background. I want to encourage others to reclaim what is theirs.

 

Got a DCA breaking OFT guidance. Complain to the OFT about the DCA. Help put an end to these practices-

 

http://www.consumeractiongroup.co.uk/forum/letter-templates/155095-complain-oft-about-unfair.html#post1652270

 

Register with CAG today, its free, its a great community:

http://www.consumeractiongroup.co.uk/forum/register.php

 

[email protected].

 

 

 

Thankyou Kennythecelt:)

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