Ppi on unsecured loan

[zojakhan]

Hi Guys,

 

I am new here and need some advice regarding an existing delinquent loan from Natwest.

 

Hi Guy, sorry for the short message above but i was tying to post since yesterday night and was facing problem in posting. Now i will come to the main issue. I took a loan from Natwest bank in oct 2005 and was making regular payment through instalments. I was paying them £253.38 for 28 months when i got into severe debt problems and couldn't afford to pay anymore instalments. i approached the debt advisor and she start communicating with the bank and they didn't listen but finally the bank agreed and asked me to pay them £16 a month for a short time, but that payment wasn't accepted for my loan account but for the overdraft on my current account with them. They passed the account to Robinson way for collection and put the account on delinquent status on my credit report and there is no default date, this means that i will suffering for more years then expected. In 2011, i logged a complaint to the bank for my PPI and the claim were accepted and the bank paid me £3217 and told me that they will adjust this in my loan. the loan amount was £10000 and to be repaid in 5 years time (60 months) along with PPI. my monthly instalment was 253.38. Later on i went to check the total amount of my loan left on me was again the same like the total amount wasn't decreased but still the same.

 

i contacted the bank and they told me that they adjusted the PPI money into my current account Overdraft which is another issue and the remaining surplus money is in the closed account for the last 2 and half years without telling me that i have got surplus money in that closed account and i am suffering financially. this means they did it intentionally to keep me deprived of my money. Long story short, in my opinion that the loan i took at the time was £10,000 and i should repay back to the bank £15280.80. But after reclaiming the PPI and they paid it back to my account, so the amount of £15280.80 should be decreased to £12,000 something, because the interest was £2680 and the principal amount was £10,000. The bank refused that they paid the money back to me and i need to make the full payment of £15,280.80. I told them that this means that what you paid me, so i am going to pay it back to you - so what's the point then. Please help me correct me if i am wrong here to get to the bottom of this dilemma. Even i spoke to the Ombudsman and he told me the same thing that the money they paid me like i am paying it back to them and asked me that when i receive the letter from the bank, then i should forward it to the Ombudsman. Please help me because there is so much experienced people here. Thanks and this site is really helpful for a people like us who had been conned by the bank.

Edited June 15, 2014 by zojakhan
to explain my problem

[ims21]

Hi Guys,

 

I am new here and need some advice regarding an existing delinquent loan from Natwest.

 

Hi and welcome along

 

Fire away with your questions please.

[zojakhan]

Hi Guy, sorry for the short message above but i was tying to post since yesterday night and was facing problem in posting my problem. Now i will come to the main issue. I took a loan from Natwest in oct 2005 and was making regular payment through instalments. I paid them £253.38 for 28 months when i got into severe debts problems and couldn't afford pay anymore instalments. i approached the debt advisor and she start communicating with the bank and they didn't listen but finally the asked me pay them £16 a month for a short time, but that payment they didn't accept for my loan but the overdraft on my current account with them. They passed the account to Robinson way for collection and put the account on delinquent status on my credit report and there is no default date, this means that i will suffering for more years then expected. In 2011 i lodged a complaint to the bank for my PPI and the claim were accepted and the bank paid me £3217 and told me that they will adjust this in my loan. the loan amount was £10000 and to be repaid in 5 years time (60months) along with PPI. my monthly instalment was 253.38. Later on i went to check the total amount of my loan left on me was again the same like the total amount wasn't decreased but still the same.

 

i contacted the bank and they told me that they adjusted the PPI money into my current account Overdraft which is another issue and the remaining surplus money is in the closed account for the last 2 and half years without telling me that i have got surplus money in that closed account and i am suffering financially. this means they did it intentionally to keep me deprived of my money. Long story short, in my opinion that the loan i took at the time was £10,000 and i should repay back to the bank £15280.80. But after reclaiming the PPI and they paid it back to my account, so the amount of £15280.80 should be decreased to £12,000 something, because the interest was £2680 and the principal amount was £10,000. The bank refused that they paid the money back to me and i need to make the full payment of £15,280.80. I told them that this means that what you paid me, so i am going to pay it back to you - so what's the point then. Please help me correct me if i am wrong here to get to the bottom of this dilemma. Even i spoke to the Ombudsman and he told me the same thing that the money they paid me like i am paying it back to them and asked me that when i received the letter from the bank, then i should forward it to the Ombudsman. Please help me because there is so much experienced people here. Thanks and this site is really helpful for a people like us who had been conned by the bank.

[zojakhan]

Thanks Ims, now the detailed question is posted and looking forward for help

[ims21]

OK so you had a loan and an overdraft with the bank.

 

The reduced payments you made went to the overdraft and not the loan...is that right?

 

Are you saying that they never defaulted the loan account?

 

We probably need to look at the figures in stages.

 

Do you have the loan agreement and all of the statements of account?

 

Do you have the formal offer letter detailing the figures when they made the offer of a refund?

 

If so, can you post up what you have please. They will need to be PDF files and you can use this method to do it...

 

**you can post up images/letters by this method immediately..you don't need 10 posts**

.

set your default scan page size to A4 less than 300DPI [150 will do]

scan the required letters/agreements/sheets - as a picture[jpg] file

don't forget you can use a mobile phone or a digital camera too!!

'

BUT......

ENSURE: remove all pers info inc. barcodes etc

but leave all monetary figures and dates.

.

************************* ************************* *******

{DO NOT USE A BIRO OR PEN OR USE SEE THRU TAPE OR LABELS]

************************* ************************* ***********

.

DO IT IN MSPAINT.EXE or any photo editing program

goto one of the many free online pdf converter websites ...

http://freejpgtopdf.com/

http://www.convert-jpg-to-pdf.net/

..

if you have multiple scans/pics

put them in a word doc FIRST and convert that to PDF

or http://www.freepdfconvert.com/

or

use http://www.pdfmerge.com

 

convert existing PC files to PDF [office has an installable print to PDF option]

..

it would be better to upload a multipage pdf if

you have many images too rather than many single pdfs

.

or if you have PDF as an installed printer drive use that

or use word and save as pdf

try and logically name your file so people know what it is.

though DONT USE BANK NAMES or CAGicon in the title

i'e Default notice DDicon-mm-yyyy

.

open a new msg box here

hit go advanced below the msg box

hit manage attachments below that box

hit the add files button on the top right

hit select files, navigate to your file on your pc

hit upload files

...

YOU DONT have to put a link to the attachment in the msg box..just upload it ..job done

you can click on your links to check them too!

[zojakhan]

Thanks Ims, i don't have anything paper work but i can request the bank to send me the break down.

[zojakhan]

That's right Ims - i do both loan and OD, which later they consolidated to one. The account was defaulted and the loan is delinquent. Don't know how to turn the time back.

[ims21]

If it were me I would send a Subject Access Request to the bank.

 

There is a template in the CAG library, the link to which is at the top of every CAG page in green.

 

There is a statutory fee of £10 payable to them and they will have 40 days to comply.

 

From the information that comes back it should be possible to establish exactly whet the refund should have been and how it was dealt with.

 

Until we have the full data then we would be speculating to a certain extent.

 

However, I will look at your first posts again and see if we can make some preliminary headway on it.

[zojakhan]

Thanks Ims and i will send them the SAR request.