#PPI claim succes and claims on hold.

[nightsurf]

i have recently sent in payment protection insurance claims to the royal bank of scotland and to the nat west,

these were sent at the same time for mis selling of these policies to me,

 

i have recived a response from the nat west and they cleared my complaint with them in under 4 weeks and made an offer of settlement for just over 3k,

,which i have accepted,

 

however the royal bank of scotland have responded to me saying that current claims for mis sold payment protection insurance are currently on hold due to this enquiry that is underway.

 

i have sent in a complaint form to the f o s about the royal bank of scotland and cant understand that the nat west

have settled my complaint and they are part of the royal bank of scotland group.

 

as i was aware that no waivers had been given to the banks by the f s a and were to handle complaints of payment protection insurance as per their guidelines.

 

would i be able to point this out to the f o s that the nat west have settled my complaint with them,

where as the royal bank of scotland have said that claims are on hold.

 

or would they say that my current complaint with the royal bank of scotland is a seperate issue..

 

thanks in advance.

 

andy

[cerberusalert]

High Street banks putting all payment protection insurance (PPI) complaints on hold. 11/11/2010

The UK's largest bank, which includes Lloyds TSB, Bank of Scotland and Halifax, has taken a step back from placing a hold on all Payment Protection Insurance (PPI) mis-selling complaints. However, HSBC, HFC and MBNA are all placing new and in some cases existing complaints on hold pending the result of the British Bankers' Association (BBA) judicial review to stop the regulator, the FSA, forcing lenders to review millions of PPI mis-selling cases which they rejected or even those that they have not received complaints about. This is despite the new regulations not affecting the vast majority of complaints they are receiving and the Financial Services Authority (FSA) stating that banks must continue to handle complaints until the legal process ends. No formal response has been issued by the FSA about the banks’ actions. The Financial Ombudsman Service (FOS) who deal with complaints about lenders and insurers have kept quiet. They are maintaining that if a bank does not comply with the FSA guidelines it will proceed with an investigation. Banks and other lenders have been mis-selling PPI, designed to cover loan and credit card payments if you cannot work, on a massive scale for years. In the last five years, there have been more than a million complaints made to firms about PPI, while the FSA has taken action against 24 companies in that time and issued numerous warnings about mis-selling.

 

See; http://www.telegraph.co.uk/finance/personalfinance/insurance/incomeprotection/8059528/Lloyds-snubs-FSA-as-it-puts-PPI-claims-on-hold.html

Edited April 10, 2011 by cerberusalert

[dx100uk]

i'd turn it the otherway.......

 

 

why have natwest settled?

 

is your claim figure correct?

 

 

dx

[dj1971]

Nightsurf,

 

RBS and all financial institutions have already been given clear instructions from the FSA which state that claims for mis-sold ppi are to continue as per usual while this case is going on.

 

Personally, I would write back to RBS and remind them of the FSA guidance, requesting they commence a full and complete investigation into the selling of your policy as per the FSA guidelines.

 

Point out that failure to do so will result in your claim being forwarded directly to the Financial Ombudsman Service and a complaint to the FSA.

 

Good luck

 

DJ

[nightsurf]

how this started is my partner was having a clear out of old paper work and came across old loan agreements from 2003,

 

she was going to shred these documents and i had a look through them first,

and it came to our attention that we were mis sold ppi.

that we didnt ask for or request,

 

as i was at that time working as a self employed,and we couldnt recollect any of the information

that was on the loan agreements one with nat west and one with royal bank of scotland,

 

all we did was write a letter of compaint to them both and our letters we acknowledged as being recieved and would be looked in to,

 

we recieved a telephne call from nat west asking us about our complaint and would recieve a response in the next few days,

 

fast result,

 

£3.500.as settlement ughhh.

 

however the royal bank of scotland wrote and told us that claims for ppi were currently on hold,

and we could refer our complaint to the f o s if we wished..

 

the figures for the nat west loan were..

amount of loan £6.500

interest £2.391.16.

ppi £4.350.42

interest for ppi £1.380.74.

 

total amount £8891.16

loan ppi and interest £5.730

 

total amount.£14620.

 

 

this settlement figure was as they wrote a gesture of good faith

and didnt admit liability or deny any liability.

 

as we were in need of some money to settle other matters we accepted.

 

as its some thing we didnt have and could have made use of,

due t the way things are these days.

and me currently not working due to incapacity.

 

seems there wasnt any argumets in sorting this out for us.

although we were bemused as to how it was dealt with....

 

i.am not sure how my other claim would be with royal bank of scotland

but these figures are..

amount of loan.£6.800.

amount of interest.£2.691.16..

ppi £4.754.74

interest for ppi £1880.72

total cost of loan an ppi and interest £16126.32..84

payments of £191.98.

 

we recall this loan being paid of early.

 

but cant remember when.

we are confused with the whole thing to be honest

,but the money came just right.

 

thanks again

 

andy.

[dx100uk]

hey how about editing the msg and adding a few blank lines huh?

 

dx

[nightsurf]

dx100uk

 

sorry about that hey,at this mment in time i only have the use of one arm and typing is a bit of an issue at the min

thnaks for the response from you all reagrding this

andy.

[dx100uk]

not an issue

 

i've done it

 

dx

[dj1971]

Andy,

 

Over how many months was the terms of the natwest loan?

 

DJ