Need Help and Advice on PPI

[Escapologist]

Hi everyone,

 

I'm new on here and would really appreciate some help and advice on claiming back some PPI from Natwest/RBS.

 

I phoned Natwest's PPI number 8 weeks ago to check if any of my old accounts with them had PPI attached to it.

 

I was told that one of the accounts which was closed down in 2005 had PPI attached to the overdraft and a 2nd account had PPI on a £3000 loan in 1995/1996.

 

I got a letter from them that the accounts are being investigated and that they'll get back to me by 8weeks.

 

Yesterday, 7.5 weeks after I put in my claim I received a letter from Natwest saying they've investigated and there was no PPI attached to the overdraft account.

 

I found this strange since that's not what I was told on the phone whem I first contacted them.

 

I decided to ring them back yesterday and the lady I spoke to said there was PPI showing on it,

that the reason why the investigation says there was no PPI on it is because it was cancelled.

 

Now I'm confused, if it was cancelled surely their system should say that!

How can there be two conflicting information on one account?

 

I also asked the lady recheck the loan account and this time she said there was two loans for £3000, one in 1995 and the other in 1996.

They only ever told me of one loan before.

So this is waht I think, they either don't know what they're doing or they are trying everything to avoid refunding the PPI they charged me.

 

Well this morning I get another letter from Natwest offering me £614 for PP1 paid on the loan account(singular reference).

 

I was actually expecting a higher figure since the loans go back 18 years.

 

I don't have any old records or statements for the 2 accounts I'm claining on so I have no documents to proof yea or nay.

 

So here are my questions :

 

Should I turn down the £614 offer,

I think its rather low for 18yrs of them keeping my money or am I being too greedy?

I'm no good with numbers so don't know what they should be paying.

 

Should I wait to clarify if PPI was applied to one or two £3000 loans in 1995 and 1996?

If I accept the £614 can I still have them investigate the 2 separate loans.

 

Should I just for the SAR,

I'm on jobseekers at the moment and won't have the £10 for the SAR application till next week.

I'm worried about how long the whole thing will take if I go this route, I'm so broke right now.

 

Should I contact the Ombudsman regarding the conflicting info on the overdraft account?

 

I'm so sorry that this has turned out to be a right novel,

just didn't know how else to explain things so that you'll get my point.

I'll really appreciate your assistance thanks in advance.

[ims21]

Thread moved to the PPI forum.

 

First off, write to the lender and require them to provide you with a detailed breakdown of the offer. Tell them that you are not in a position to either accept or reject as they have not provided any workings on how their offer is calculated.

 

Also SAR the lender to get as much detail as you can on the accounts you held with them. There is a template for SAR in the CAG library, the link to which is at the top of every CAG page in green. Amend it to suit. The cost is £10 and they will have 40 days to comply. Make sure you add a line that it is to include copies of all and any agreements you have ever had with them.

 

If it has to wait a week or so before you can SAR them then so be it. Best to make sure their offer is correct otherwise you stand a very good chance of being stiffed by the bank again.

[dx100uk]

SAR them.

 

no otherway

 

then we can do a spreadsheet

 

and no

 

£600 is NOT CORRECT for an 18yrs PPI reclaim!!!

 

dx

[Escapologist]

Thanks for the advice, I did think my desperation was colouring my thinking, what you said makes a whole load of sense. Will write the letter and and pay for the SAR next week. Out of curiosity, how long on average does it take for the report to come through?.

[dx100uk]

40 cal days

 

dx

[Escapologist]

Thanks will wait for the SARS, If I can get more money that's worth fighting for.

I was just wondering, what sort of amount would one expect get back on a £3000 loan from 1996 that was paid back in 3 years?

[ims21]

Thanks will wait for the SARS, If I can get more money that's worth fighting for.

I was just wondering, what sort of amount would one expect get back on a £3000 loan from 1996 that was paid back in 3 years?

 

Depends on the amount of the premium. It would have been a single premium, front loaded and paid for over the life of the loan.

 

Without the figures we can't tell, hence the need for SAR and their detailed breakdown.

[Escapologist]

Okay, guess I'll just have to wait for the SAR.

In the meantime I'm writing 2 letters to RBS, asking for a detailed breakdown of how they arrived at their offer figure and to explain why on the phone to tell me there was PPI attached to my overdraft and in saying the opposite in their letter.

[ims21]

Good man

[Escapologist]

I'm a not too dainty damsel in distress:-)

[ims21]

Ooops....sorry

 

Good damsel

[Escapologist]

No worries IMS21, have a lovely evening.

[dx100uk]

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[Escapologist]

Hi guys,

 

Just wanted to update you on what I've been up to.

I've sent Natwest a letter asking for a detailed breakdown of how they arrived at the £614 offer and also applied for SAR.

Both letters were sent recorded do they can't claim they never got them.

Now to wait for their response.

[dx100uk]

great

 

dx