RBS 1997 overdraft loanguard PPI claim **WON +£15k!!**

[technique1966]

Long time since I posted anything, but searching out information brings up a few results on here,

so thought I'd add this thread, might help someone in the future if it all goes to plan.

 

Approximately 7 weeks ago I received a letter from the RBS PPI team (Hardman Boulevard M/cr address)

regarding PPI on my current account with them, I'll be honest and say I'd completely forgotten about it

and the variable monthly charges show up as a charge on the account.

 

Obviously I was shocked that

a) I'd forgotten all about it and

b)I'd already inquired about any PPI with the RBS previously.

 

Having the majority of paperwork regarding to this I sent in the FOS questionnaire,

I upped my overdraft in 2004 and was told it was compulsory to have the PPI in place on a facility of this size,

similarly when it was originally taken out in 1997,

that coupled with my self employed status were the basis for the miss selling complaint.

To say I was kicking myself for being so stupid to get to this point was an understatement.

 

As stated I have statements dating back to 1997

so I'll know what has actually been paid

(so far I've only sat down and done 6 years and that's showing PPI paid as approx £1300,

months vary considerably but I'd say average is £18-£20 per month).

 

So, decision date is approx 1 week off,

I'll update this thread if and when anything happens,

seemingly several have posted success stories up,

 

so if you've had PPI on your overdraft

 

or even if you're not sure it's worth investigating

[technique1966]

Brief update on this.

 

8 week period was due up on Tuesday, so I thought I'd ring and enquire as to if a decision had been made on Monday, no was the answer but 'we're expecting it to be on our systems tomorrow,' give us a ring in the morning', fair enough comment so quick call Tuesday morning, 'no decision as yet as we've got till the close of business today' again fair enough.

 

Approx an hour later I received a call to inform that no decision was going to be made as we're still waiting on information, on asking what they actually needed I was told that they didn't actually know and I 'could possibly' get a decision in ten working days, then on the other hand I might not.

 

I'll be honest and say I've no idea what they're waiting on, my only guess (and it is purely that) is because it dates back a good distance that getting information from pre 2000 etc could be the problem, I really don't know how good the RBS are at records.

 

I have all of this stuff from a SAR in 2006 re bank charges (won and paid out). So do I give them time or is it a case of get the ball rolling with the FOS as they've overrun their designated time limits etc?

 

The only other one that I've no had a decision on within the time frame was Cardif Pinnacle and to be honest they were pretty good at keeping me informed as to what was going on and why. (That was quite a convoluted reclaim as they were the underwriters to First National who didn't want to know as they loan was arranged through the defunct Freedom Finance, that in the end was a pretty easy win.)

[technique1966]

Update, the 10 working days after the 8 week period was up on the 23/12, so again I contacted the Hardman Boulevard team by phone to check on progress, I was advised to phone again in the morning, which I duly did, still no answer and no idea of when it was likely to be resolved as they still couldn't tell me what they were waiting on.

 

By this stage I was somewhat fed up with being told one thing and then nothing happening,so I thought I'd go straight to the top, and fired in a complaint to the chieh executives office by email, to their credit the response and help from that end was superb, I had an email back on Christmas Eve to say it would be looked into by close of business on Fri, this was done and a gentleman phoned me at quarter to five, exceptionally apologetic that he couldn't raise the PPI complaints team by either phone or email, but that he would chase it up by Monday (today). Half an hour ago I had a phone call to tell me that a final decision letter had been mailed to me on the 27th, but should I not receive it in the next couple of days to contact him again at the Chief Execs office, superb service, did what he said when he said, nice to see!

 

Put the phone down and the mail arrived........

 

Well we have a winner, very pleased

 

PPI premiums paid £3554,88

8% to eavh PPI payment from date of each payment £11655.38

Statutory Interest £616.08

Less Tax -£123.22

Total Offer £15703.12

 

Off to the post office to post back, might go to the pub after! I'll make a donation in the next few days, whilst I've not needed individual help, the sheer fact of this site being here has helped beyond belief, ta very much to all involved.

[dx100uk]

i was watching well done

fantastic win!!

 

dx

[Andybars]

Can you just check the letter

- in post 3

- the second line of your calculation states 8% interest on each payment from the date of payment.

 

 

The interest on each payment should be at the interest rate you were charged for your overdraft

(or because RBS don't have a full rate history - I believe they use 18% as an average).

 

 

The figures certainly seem to suggest it was around 18%

but it would be worth querying with RBS if it does in fact state the rate was 8%

[citizenB]

Excellent news.. what a fantastic Christmas/New Year pressie