***RBS PPI Claim Long fight but, WON***

[Bog]

I'd be VERY wary of ANY advice from a bank employee! I can only think of one reason as to why they would be on this forum

[adamski]

YB do you work in the reclaiming side of the bank i.e. complaints?

[yourbank]

...........................

Edited July 31, 2008 by yourbank
who cares who I am if it helps people

[alanalana]

Hello yourbank,

 

Alanalana, I have been Nattie/NatWestStaffMember for a long time now. I have spent the last 20 minutes trying to answer what is clearly a points scoring exercise(that is how I read it).

 

Not a points scoring exercise. This is more a give me my money back exercise.

 

aa

[yourbank]

.................................................

Edited August 2, 2008 by yourbank

[yourbank]

YB do you work in the reclaiming side of the bank i.e. complaints?

 

I work for NatWest Bank, I don't conceal anything of who I work for. If you work for a bank you deal with complaints regardless be it reclaiming or otherwise.

[alanalana]

Hello all,

 

I have decided to change my response at post 160 to the offer from RBS Group at post 144.

 

The PPI as I see it was not fit for purpose at point of sale so this is now my response to the goodwill offer.

Mr xxx

address

 

21 July 2008

 

 

The Royal Bank of Scotland Group

PPI Customer Concerns Team

Regulatory Risk

5th Floor

1 Hardman Boulevard

Manchester

M3 3AQ

 

Dear Mr xxx,

Re: Direct Line Loan accounts. Reference numbers:

Account No xxx 11/04/1997 to 17/12/1998

Account No xxx 17/12/1998 to 17/12/1999 (Shown as 1998)

Account No xxx 28/06/2002 to 15/03/2003

Account No xxx 15/03/2003 to 22/03/2004

 

Document References:

 

A. My original claim for the mis-selling of PPI dated 09/06/2008.

(To Retail Regulatory Risk office in Edinburgh).

B. Your Reference xxx dated 27/06/2008.

C. Your Reference xxx dated 08/07/2008

 

I write in regard to the above References A, B and C.

 

Firstly I acknowledge receipt of Reference C.

 

Your Reference C states, and I quote:

 

“On this occasion I have been unable to confirm precisely what information you were given at the time you purchased the policies. In the circumstances, as a gesture of goodwill and without any admission of liability, the Bank is prepared to make you the offers detailed below”

 

As pointed out in my Reference A your Organisation were made aware that I was in receipt of a Ministry of Defence War Pension. Your paperwork supplied under my Subject Access Request shows I was required to provide proof of the income from that War Pension to be considered for approval for a loan. I attach a copy of my War Pension letter as proof of Pre-Existing Medical conditions.

 

If you require any additional documentation please inform me, as I have a complete file and can supply a comprehensive and fully documented history.

 

At no time were any questions put to me with regard to any possible Pre-Existing Medical Conditions that may automatically preclude me from making any future claim on the Payment Protection Insurances applied to the loans. In each case on all four loans, this Insurance was applied without your staff ensuring that it was fit for purpose.

 

I now understand that you wish to offer a “gesture of goodwill” offer to refund the PPI payments that I have made on each of the loan accounts.

 

However, I would again point out that the original PPI payments were Single Premium payments with interest added at your current contractual rate. I am therefore disappointed that you have made no offer to repay the Single Premium payments added on to each of the loans. Likewise, I was also unhappy to note that you have also not offered to repay any interest on the PPI payments that I have made on each of the loan accounts.

 

I feel this is neither fair nor reasonable under the circumstances, so I must now request that each of your goodwill offers to settle my claim, should include the following:

 

1. Repayment of the single premium payment plus the interest at your contractual rate for each of the loans.

2. Repayment of the PPI payments I made by direct debit on each of the loans.

3. Repayment of the cumulative interest at the Statutory rate of 8% on each of the total figures for each loan from the date of the first payment in each case up to today.

 

The revised figures required to settle this claim now follow:

 

 

I have double checked figures after Fred kindly pointed out I was heading for prison.

Revised letter in thread shortly.

aa

Edited July 22, 2008 by alanalana
mathematical blunder

[banker_rhymes_with]

Hello aa!

 

Looks good to me (but have not checked the figures just how it reads)!

 

:o

 

Cheers,

BRW

Edited July 22, 2008 by banker_rhymes_with

[alanalana]

Hello brw,

 

many thanks for that;)

 

It's already in the special paid envelope with two letters of proof of pre existing 1996 30% disability and 2000 40% disability:D it only hurts when I laugh.

 

Let's see what the response is.

 

aa

[Fred_Funk]

alanalana

 

I thought I was pretty up to speed on PPI, however, I'm more than a bit confused by your most recent post and, especially, the figures you've quoted.

 

Surely you either paid a single premium or you paid for your PPI monthly and whichever of these it was should be the basis for your claim? Unless I'm missing something, I don't see how you can include figures for both.

 

*Here to be enlightened*

Fred_Funk

[alanalana]

Hello fred,

 

the PPI was single premium figure added to the loan with contractual interest added for the life of the loan. The monthly payments were the repayment for the loan element and the ppi element of the total loan. As I have paid around £5,000 in PPI single premiums goung back 11 years then I should be able to make a claim including statutory interest at 8%.

 

If there is a refusal I will let the FOS or Court work out the figures. I only want a fair repayment on several mis-sold insurances since 1997.

 

aa

[Fred_Funk]

alanalana

 

Maybe I'm missing something but I think your figures are wrong.

 

I can't see how you can add the repayments you've made to the single premium figure you've been quoted for PPI. Surely, it's one or the other?!

 

Otherwise, it's like reclaiming bank charges totalling, say, £500 and then adding all the individual charges to that total, ie adding the same thing again.

 

I appreciate what you say about allowing the FOS to calculate the figures but there's far more chance of RBOS giving you what you want at an early stage if you demonstrate you know what you're talking about.

 

Have you asked a moderator to have a look?

 

Fred_Funk

[adamski]

I work for NatWest Bank, I don't conceal anything of who I work for. If you work for a bank you deal with complaints regardless be it reclaiming or otherwise.

 

 

I was just asking a question, because if you deal with PPi refunds and complaints then you could be very helpful, you sound touchy at my question it was only a question, I am not one of your customers ok so please refrain from speaking to me like one

[yourbank]

My apologies to you adamski, I was following others and I have always been tetchy about where or what I do. Paranoia for me keeps me safe and keeps me in a job.

I will refrain from posting any further on this thread in response to any comments about me so if anyone would like to complain about any of my above comments please can they use either PM or a new thread so that it keeps them off the main topic of the thread which is alanalana's claim(I was guilty as well).

[alanalana]

Hello fred funk,

 

alanalana

 

Maybe I'm missing something but I think your figures are wrong.

 

I can't see how you can add the repayments you've made to the single premium figure you've been quoted for PPI. Surely, it's one or the other?!

 

Otherwise, it's like reclaiming bank charges totalling, say, £500 and then adding all the individual charges to that total, ie adding the same thing again.

 

I appreciate what you say about allowing the FOS to calculate the figures but there's far more chance of RBOS giving you what you want at an early stage if you demonstrate you know what you're talking about.

 

Have you asked a moderator to have a look?

 

Fred_Funk

 

Fred many thanks for preventing my imprisonment:eek:

 

You were correct with both posts in that I was getting a bit carried away wanting too much money:D

 

Much as the banks generally do:evil:

I should have been a banker it's easy.

 

 

Adamski and Your bank,

 

Glad you made up cannot stand the sight of cyber blood.

 

aa

Edited July 22, 2008 by alanalana
text added

[alanalana]

Hello all,,

revised letter as mentioned in earlier post for my final figure for reclaiming.

 

The Royal Bank of Scotland Group

PPI Customer Concerns Team

Regulatory Risk

5th Floor

1 Hardman Boulevard

Manchester

M3 3AQ

 

Dear Mr xxx,

 

Re: Direct Line Loan accounts. Reference numbers:

Account No xxx 11/04/1997 to 17/12/1998

Account No xxx 17/12/1998 to 17/12/1999 (Shown as 1998)

Account No xxx 28/06/2002 to 15/03/2003

Account No xxx 15/03/2003 to 22/03/2004

 

Document References:

 

A. My original claim for the mis-selling of PPI dated 09/06/2008.

(To Retail Regulatory Risk office in Edinburgh).

B. Your Reference xxx dated 27/06/2008.

C. Your Reference xxx dated 08/07/2008

I write in regard to the above References A, B and C.

 

Firstly I acknowledge receipt of Reference C.

 

Your Reference C states, and I quote:

 

“On this occasion I have been unable to confirm precisely what information you were given at the time you purchased the policies. In the circumstances, as a gesture of goodwill and without any admission of liability, the Bank is prepared to make you the offers detailed below”

 

As pointed out in my Reference A your Organisation were made aware that I was in receipt of a Ministry of Defence War Pension. Your paperwork supplied under my Subject Access Request shows I was required to provide proof of the income from that War Pension to be considered for approval for a loan. I attach a copy of my War Pension letter as proof of Pre-Existing Medical conditions.

 

If you require any additional documentation please inform me, as I have a complete file and can supply a comprehensive and fully documented history.

 

At no time were any questions put to me with regard to any possible Pre-Existing Medical Conditions that may automatically preclude me from making any future claim on the Payment Protection Insurances applied to the loans. In each case on all four loans, this Insurance was applied without your staff ensuring that it was fit for purpose.

 

I now understand that you wish to offer a “gesture of goodwill” offer to refund the PPI payments that I have made on each of the loan accounts.

 

However, I would again point out that the original PPI payments were Single Premium payments with interest added at your current contractual rate. I am therefore disappointed that you have made no offer to repay any interest on the PPI payments that I have made on each of the loan accounts.

 

I feel this is neither fair nor reasonable under the circumstances, so I must now request that each of your goodwill offers to settle my claim, should include the following:

 

Repayment of the cumulative interest at the Statutory rate of 8% on each of the total figures for each loan from the date of the first payment in each case up to today.

 

The revised figures required to settle this claim now follow:

 

Account No xxx 11/04/1997 to 17/12/1998:

£481.66 (Your offer figure)

Plus Statutory interest @ 8% from 02/05/97 to Today (22/07/2008) = £432.73.

Total repayment required £914.39

Account No xxx 17/12/1998 to 17/12/1999.

£430.05 (Your offer figure)

Plus Statutory interest @ 8% from 01/02/99 to Today (22/07/2008) = £326.04.

Total repayment required £756.09

Account No xxx 28/06/2002 to 15/03/2003.

£511.56 (Your offer figure)

Plus Statutory interest @ 8% from 01/08/02 to Today (22/07/2008) = £244.65.

Total repayment required £756.21

Account No xxx 15/3/2003 to 22/3/2004.

£1,257.34 (Your offer figure)

Plus Statutory interest @ 8% from 01/05/03 to Today (22/07/2008) = £526.08

.

Total repayment required £1,783.42

Total Claim £4,210.11

Therefore, I have calculated that the actual sum required for full and final settlement as of Today’s date, namely 22/07/2008, currently comes to a combined total of £4,210.11.

 

Please be aware that these figures are only correct as at 22/07/2008. Please note that any further delays in Settlement will require the total to be recalculated to allow for additional Statutory Interest to be added.

 

I therefore await your considered response at your earliest convenience, but in any event within 14 days. I trust you will find this revised proposal acceptable.

 

Yours sincerely,

A xxx

 

BRW

 

http://www.newsquarechambers.co.uk/Calculators/calculators/interestcalculator.htm

 

This is the calculator I used to get the interest

 

aa

[banker_rhymes_with]

Hello aa!

 

You may be able to squeeze a little more, as the New Square Chambers Calculator only works with a single lump and two dates, whereas you initially Paid the PPI Monthly in each case, which built up over a few Months for each Loan, and none of that time is getting any Interest based on the above Letter.

 

i.e. use a Spreadsheet that allows you to enter the PPI Payments as you made them, you could run up a tally starting from the first PPI Payment and add 8% as the amounts of PPI were added each Month while you were Paying PPI, and then when you stopped, the total can keep running up at 8% to the present day.

 

That to me seems more fair, as they took your money from the first PPI Payment, and kept taking it until you stopped Paying. The New Square Chambers Calculator doesn't take account of the initial build up of PPI while you were Paying it.

 

I think you could rightly claim £4,370.18, based on the four Loan PPI Totals coming to the following revised Totals with 8% applied from the start:

 

£ 542.69

£ 934.92

£ 896.04

£1,996.52

=======

£4,370.18

 

Their figures assume the mis-Sold PPI popped into existance in one go, and you have then added 8% to that.

 

In think a fairer way would be to crank on the 8% to every PPI Payment, as that money was slipping away from you at a much earlier point, and you ought to get interest on that.

 

Every little helps!

 

Cheers,

BRW

[alanalana]

Hello brw,

 

thanks for the revised figures.

 

I will amend my letter to them post haste.:o

 

aa

[Bog]

i.e. use a Spreadsheet that allows you to enter the PPI Payments as you made them, you could run up a tally starting from the first PPI Payment and add 8% as the amounts of PPI were added each Month while you were Paying PPI, and then when you stopped, the total can keep running up at 8% to the present day.

 

 

Hi aa,

 

My spreadsheet will do this for you.....

 

http://www.consumeractiongroup.co.uk/forum/show-post/post-1624569.html

[banker_rhymes_with]

Hello Bog!

 

Sorry to seem overly cautious, but the above Link takes me to another Link, and that Link apears to use Active Server Pages or similar.

 

No offence, but this could be a Link to harvest IP Addresses from CAG Members.

 

Can you perhaps post the Spreadsheet to CAG as an XLS Worksheet or similar?

 

Cheers,

BRW

[RedVixen]

Subscribing - interesting read

[Bog]

Hello Bog!

 

Sorry to seem overly cautious, but the above Link takes me to another Link, and that Link apears to use Active Server Pages or similar.

 

No offence, but this could be a Link to harvest IP Addresses from CAG Members.

 

Can you perhaps post the Spreadsheet to CAG as an XLS Worksheet or similar?

 

Cheers,

BRW

 

The first link is just to my first post in the thread here: http://www.consumeractiongroup.co.uk/forum/payment-protection-insurance-ppi/152816-download-ppi-calculator-here.html#post1624569

 

The second is only a link to my Windows Live (Hotmail) storage space .

 

Why on earth would I take the time to put together a spreadsheet to help other forum members just to get their IP address, If someone wanted our IP addresses, I assure you they would have no problem in getting them!

 

I would happily upload it to the Forum if someone tells me how!

 

Only trying to help, especially when the most common question on the forum is how to calculate the refund amount.

Edited July 23, 2008 by Bog

[banker_rhymes_with]

Hello Bog!

 

The first link is just to my first post in the thread here: Download PPI Calculator HERE (Single Premium PPI)

 

The second is only a link to my Windows Live (Hotmail) storage space .

 

Why on earth would I take the time to put together a spreadsheet to help other forum members just to get their IP address, If someone wanted our IP addresses, I assure you they would have no problem in getting them!

 

I would happily upload it to the Forum if someone tells me how!

 

Only trying to help, especially when the most common question on the forum is how to calculate the refund amount.

 

No offence was intended, just urging caution when I see Links that may not be all they seem.

 

I am sure you are genuine, but you must realise that others that appear on CAG are not all that they seem.

 

Your efforts are welcome, please look at this from another perspective, i.e. say you were not genuine, then it could be all too easy for people to follow a Link and find themselves in a situation they were not expecting.

 

My suggestion was just to make access to your Spreadsheet more transparent. You may need the help of one of the CAG Site Team to help get your Spreadsheet up in a way that is clearly safe.

 

I know CAG allows some File Types to be added, such as PDFs and XLS, but I regret I cannot see how.

 

Again, no offence has been intended, your Links were just a little out of the ordinary, and I did not like the look of the URL for the Spreadsheet Link, so voiced my concern, just in case.

 

Cheers,

BRW

[banker_rhymes_with]

Hello Bog!

 

Link has been checked out by Site Admin, and looks safe to use.

 

You may need to double check the Interest, as I've been advised that the Court 8% needs to be Simple where as I think you are Calculating it as Compound...I have yet to look myself in any detail, just passing back some feedback.

 

Not a complaint, just feedback on the Spreadsheet.

 

Cheers,

BRW

[alanalana]

Hello brw

 

Hello aa!

 

Looks good to me (but have not checked the figures just how it reads)!

 

 

Cheers,

BRW

Last edited by banker_rhymes_with; Yesterday at 09:30.

 

Only edited after you thought you were going to be my cell mate:lol:

 

aa