RBS unable to trace my Credit Card account.

[suvin50]

This debt has never been sold. I have had no contact from RBS about this debt for over 7 years. I don't have other debts within the group.

[ims21]

Ok so they can set off against the debt that they hold.

 

The 8% interest should, however, come to you as I understand it.

[suvin50]

I can't see any statutory interest on the breakdown of the refund, just one figure of premiums and associated interest.

[ims21]

If this is on a credit card then it may be that the reconstructed account after removing the PPI never showed a credit balance in which case there wouldn't be any 8%.

[suvin50]

It does say "Gross interest at statutory rate added to each overpayment from the date of the payment to date" NIL

[suvin50]

[ATTACH=CONFIG]47160[/ATTACH]

 

This is how the award is broken down

[ims21]

Which would seem to indicate that no 8% is due.

 

Have you been able to carry out your own calculations? Do you have all of the statements to enable you to do so?

[suvin50]

I don't have any relevant statements. Statements I received from SAR only go back to 2006. The account has been inactive since 2005. The covering letter says that statutory interest has been awarded.

[ims21]

Can you post up their letter with personal identifiers removed please?

 

You could also ask them to give you the detailed breakdown of their offer...premium by premium.

[suvin50]

Here it is

[ims21]

Ok so as above, it may be that the card never went into credit following the reconstruction.

 

If you want to be sure as to how they calculated the refund then get them to forward you the detailed calculations.

[suvin50]

It could be that the account never had a credit balance. I will ask for the detailed breakdown.

[tanyadrhodes]

RBS are one of the banks that are most stringent about setting off PPI awards against old debts, and yes, they are within their right to do so. IF there had been statutory interest, which I understand there wasn't, they can also keep that.

[tanyadrhodes]

Although what they've said in your letter about paying back the 8% regardless of whether your account is with Credit Management Services, is at odds with what they told me - were you in any form of insolvency, e.g. DMP / IVA / Trust Deed?

[suvin50]

No ...........as I said before no contact from RBS for over 7 years, There was a mention of RBS from a CRA which said this was satisfied in 2011.

[tanyadrhodes]

Apologies, I missed that. But in any case, they can reactivate written off debt to set off PPI refunds against it, as that's what they are doing to me.

[suvin50]

When a debt shows up on a CRA file as satisfied does it mean it has been sold to a DCA?

[dx100uk]

yes