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RBS put claim on hold until I provide policy or loan account number


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Morning,

 

I filled i the qustionnaire from RBS off their website to reclaim PPI on an old loan. I gave them my acount number from which they took the payments out as I don't have any paperwork from the loan itself. They have repled saying 'we are taking your claim seriously...' 'we are unable to progress this matter further as you have not provided us with details of the specific policy or loan account number you wish to complain about'.

 

Can anyone advise where to go from here? I presumed since this is the only loan I've ever had with them and the payments were taken out of the account number I provided they could find it. Are they being deliberately difficult?? I don't have any paperwork for the loan as I shredded it when it was finished. I know I had PPI on it tho as I discovered about 3/4 of the way into paying the loan off that it was included in my repayments and I cancelled it?

 

Any advice would be great.

 

Thanks

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Hi fiestychick

 

Did you just take a punt on this without doing a Subject Access Request?

 

Personally I like to have all the details before putting in a claim so what I would do is SAR the bank to get ALL the information they hold on you. This should reveal everything and you can put in a proper quantified claim.

 

Regards

 

ims

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Hi Ims

 

Thanks for replying.

 

Yes I guess I did! went onto their website and followed their published proceedure for the PPI request.

 

Ok I'll send off a SAR this weekend - cheers.

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Excellent stuff

 

And when you get your papers back you will be able to work out what they owe you in premiums and the interest charged on the loan ppi and the statutory 8% interest on top of that.

 

Regards

 

ims

If I have helped you please leave me a message by clicking my star

 

1. Single Premium PPI Q&A Read Here

2. Reclaim mis-sold PPI

Read Here

3. Reclaim Loan & Credit Card Charges Read Here

4. The CAG Interest Tutorial

Read Here

5. Feel Bullied by Creditors or Debt Collectors?

Read Here

6. Staying Calm About Debt

Read Here

7. Thinking of a Full & Final Settlement?

Read Here

 

How To Upload Documents To Cag

Instructions

 

I DON'T GIVE ADVICE BY PM BUT IF YOU SEND ME A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER HELP THERE

 

 

 

Private message facilities are offered for users to communicate issues that are perhaps inappropriate for posting on the main forum. Site rules explain this in more detail.

 

If you receive a private message which you consider abusive, derogatory or otherwise inappropriate, whether it be about yourself or other members, please report it using the "report" icon

 

If you are approached (or have been approached) by private message with an offer of help "Off Forum" or with a view to asking you to visit another website, please inform the site team via the report icon, especially if this results in a request for a fee. Remember, this is for your own protection

my views are my own and are given in good faith to try and help people. Please seek professional advice on your case if necessary

 

PLEASE HELP US TO KEEP THIS SITE RUNNING

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Morning,

 

I filled i the qustionnaire from RBS off their website to reclaim PPI on an old loan. I gave them my acount number from which they took the payments out as I don't have any paperwork from the loan itself. They have repled saying 'we are taking your claim seriously...' 'we are unable to progress this matter further as you have not provided us with details of the specific policy or loan account number you wish to complain about'.

 

Can anyone advise where to go from here? I presumed since this is the only loan I've ever had with them and the payments were taken out of the account number I provided they could find it. Are they being deliberately difficult?? I don't have any paperwork for the loan as I shredded it when it was finished. I know I had PPI on it tho as I discovered about 3/4 of the way into paying the loan off that it was included in my repayments and I cancelled it?

 

Any advice would be great.

 

Thanks

 

Hi,

you can always try and ring RBS loan department and ask for details of any loans you've taken out, i tried this with lloyds-tsb after waiting 3 months for a responce to my SAR request, it took 10minutes of my time and they were able to give me the full details of 5 loans id taken out since 2000,the loan account numbers when and for how long loans ran and the monthly cost of PPI on each loan.

this is a copy of letter iv sent to Lloyds requesting repayment of PPI.

 

Account No XXXXXXXXXX Sort code XXXXXX

 

Lloyds TSB,

Tredegar Park,

Newport,

NP10 8SB

 

Dear Sir / Madam

OFFICIAL COMPLAINT

Re: Request for return of Payment Protection Insurance premium and contractual interest.

 

Payment Protection Insurance (PPI) policies for 5 unsecured personal loans.

Loan Account No XXXX total PPI payed £xxxx

Loan Account No XXXX total PPI payed £xxxx

Loan Account No xxxx total PPI payed £xxxx

Loan Account No xxxx total PPI payed £xxxx

Loan Account No xxxx total PPI payed £xxxx

 

I believe I have been mis-sold a payment protection insurance polices and would like to request a full refund of my premiums, plus interest paid.

I took out a total of five unsecured personal loans over several years most of which i was either unaware PPI had been added or the salesperson who sold me the policy did not disclose all of the facts relevant to the PPI.

 

Having recently looked at the paperwork for my loans I now realise that I have been paying for insurance (and the interest on that insurance). I believe i am entitled to a refund of the payments made as no claim was made on the polices.

I am requesting a full refund of all my insurance payments that I have paid to date.

I was not advised that I could obtain insurance elsewhere to cover myself for this new commitment to your bank or shown any comparisons for other products in the industry – which may have been more competitive or better suited than your own. This latter concern has now been the subject of an enquiry by the Competition Commissioners Office who were especially critical of PPI

It was not explained to me that the policy premium would be paid upfront as a single premium and would be added to my debt and attract interest from the outset. I believe you should have disclosed to me that the single premium policy, did not give a pro-rata refund in event of early settlement.

I was not told that there were other options than a single premium policy, i.e. that I could take a “pay monthly one”.

No attempt was made to ascertain if the product provided was fit for purpose, suitable for my needs or if indeed at all. No inquiry was made as whether I had pre-existing insurance for accident, illness or unemployment. I was not given full information on what the policy would and would not cover, I was not given a copy of the insurance policy nor were any rights to cancel explained. I believe you manifestly failed in your fiduciary responsibilities, and your duty of care.

With reference to recent OFT and FSA investigations regarding the mis-selling of PPI by finance companies, I now believe that I was gravely misled when you mis-sold me this expensive insurance policy, which I did not want and did not need and for the reasons given above, totally unsuitable.

 

I believe you should have made it clear to me that the policy generated large profits for you. You failed to do this. I believe that you have also therefore failed in your duty of disclosure. Your failure to disclose is misrepresentation at common law.

Your concealment of the act of mis-selling has prevented me from asserting my right until now. I believe that there are strong grounds for action against you under common law, statute and consumer regulations.

 

If this were to proceed to litigation, Statutory 8% interest (S69 of the county court Act) allowed by the Courts would also be payable.

I am writing to ask you to refund the premium paid together with interest equal to your APR at the time under the accepted principle of mutuality and reciprocity. I would also like to claim statutory compensation in view of the fact that I have been deprived of the cash over that period.

 

Please now investigate my complaint within the eight weeks allowed to you. If I do not receive a favourable response from you I will consider pursuing this claim through the Financial Ombudsman.

May I bring to your attention that fos rules which are backed by the Consumer Credit Act 2006 require a business to acknowledge in writing a complaint by the end of the next working day.

 

Yours faithfully,

 

 

XXXXXXXXXXXXXXX

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