RBS PPI Offer What next ??

Ninjaboy · 22 February 2012 at 11:07PM

Hi Everyone

I'm another newbee to this wonderful site.

After reading many of the you experiences (good & bad) I decided to get "in about" reclaiming PPI from the RBS.

Made one phone call to the Manchester RBS PPI Customer Concerns Team (08000150319), spoke to a really nice guy on the other end and explained my concerns about PPI. Gave him account number; he said I would get a letter in a couple of week with a PPI reference No. Thirteen (YES 13) days later I recieved 7 offers relating to different accounts I was not aware of. Signed them all and sent them back "tracked" through Royal Mail.
These accounts relate to a period roughly 2000 - 2009
Wwwoooooowwww £8258 PPI refund PLUS £2748.06 int.
£ 11006.39
There is still money outstanding (£17352.08) against this account brought about due to a self-employment period failing. This outstanding decreasing balance is in the hands of a collection agency. Will the total £8777.25 go towards the outstanding or just the PPI refund and the interest to me ?

Anyone been in this position and had a result ?
Any advice ?

socks_uk · 23 February 2012 at 7:23AM

In my husband's RBS offer letter it said that the money would go into his current account if he still has one (which he does) or paid by cheque. There was nothing to say that it would be paid into his loan account.

Ninjaboy · 23 February 2012 at 10:19AM

Thanks Socks

Was your husband in the same bracket of cicumstances ? Collection agency, outstanding balance etc ?
Did phone the RBS PPI team but they came accross fairly unsure about what will happen.

Many thanks

amersall · 23 February 2012 at 2:22PM

Usually if you have arrears they can use the redress to come off the debt,if this is still within RBS collections,if they have sold the debt on,you get this refund back.
It is possible you will get the redress back to you,they will let you know in writing what they are doing.

If they take redress off the arrears,you will get the 8% back to you,this 8% is taxable and you will need to contact HMRC to find out how you pay this tax,unless RBS give you the 8% less tax,then you do not have to do anything.

socks_uk · 23 February 2012 at 4:59PM

Ninjaboy wrote: »

Thanks Socks

Was your husband in the same bracket of cicumstances ? Collection agency, outstanding balance etc ?
Did phone the RBS PPI team but they came accross fairly unsure about what will happen.

Many thanks

He still has about £2000 left to pay on his loan which he would like to pay off as soon as he can. I'm not sure what you mean by collection agency though... he pays the loan monthly out of bank account.

socks_uk · 24 February 2012 at 2:42PM

Just to confirm, my husband has had the first of his RBS PPI refunds paid into his bank account today (£1100).

sturty999 · 18 May 2012 at 11:38AM

Hi, just wondering how long it was from posting back your acceptance letters to the money being paid into your husbands RBS account? I posted my acceptance letter back on Monday, I know they quote 28 days to make payment but didn't know how long others have waited for payment.

Cheers,

Andy

Cupcake_63 · 20 May 2012 at 12:38PM

sturty999 wrote: »

Hi, just wondering how long it was from posting back your acceptance letters to the money being paid into your husbands RBS account? I posted my acceptance letter back on Monday, I know they quote 28 days to make payment but didn't know how long others have waited for payment.

Cheers,

Andy

I sent my acceptance back to RBS on 1st May 2012 and received a text message on 8th May 2012 saying they had received the acceptance and, in their words, "Thank you for returning your acceptance form. We typically expect to make payment within 28 working days of receipt". I haven't received my settlement yet! So lets hope its not too much longer.

sturty999 · 21 May 2012 at 9:32AM

Spoke to RBS this morning, they say that they recieved my signed form on 17th May and that they expect to make payment within 28 working days, although they say they are processing them quite quickly at the moment! Let me know Cupcake when you receive your payment? Will be interesting to see how long it takes!

Cupcake_63 · 21 May 2012 at 11:18AM

Well done Sturty999, that sounds positive. Fingers crossed they get their act together and settle up very soon. Will keep you posted. Good luck with yours too.:T

Cupcake_63 · 22 May 2012 at 11:27AM

Just received a text this morning from RBS Group saying "We are pleased to advise your PPI case has been paid and should reach you within the next 7 days. Written confirmation will follow in due course". That makes it well within the 28 working days from receipt of my acceptance.

RBS PPI Offer What next ??

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