PPI Reclaiming Discussion part 4

RMUSS1978

Hi, I have made a PPI claim against my £20,000 loan with RBS. I took out this loan in November 2006 when I asked for an extension to my overdraft. Rather than helping me sort out my woes with a short-term fix, they rail-roaded me into consolidation. When someone says to you, that you can pay off everything you owe and have something left over you kind of jump at the idea. Anyway skip forward two years I realised I could reclaim the £91 a month extra added onto the loan in PPI. I was a little naive when I took out the loan, but felt the advisor implied in order to help that day it was best to sign up with the PPI. I used the template provided through this site and sent it all off, they acknowedged receuipt almost two weeks after I sent it and said they would investigate up to 8 weeks from date they received it. Then about two weeks later they sent a letter saying it was still being investigated. Finally this week I got a bulky A4 envelope through the post, answering all the points and saying I didn't have a claim. However as a goodwill gesture I could accept a £750 payment. This I find to be a bit contradictory. When a bank is in financial difficulty, surely if it says it has proven in black and white I do not have a case then they would not be wasting £750 on me. Is this damage limitation on thier beahlf or is it best to accept this offer? I estimate without interest I am owed £2639. I really am unsure what to do. I strongly believe I have been mis-sold. RBS state they are not obliged to tell you you can purchase stand alone policies, which was one of my main gripes. Any help with this situation?

di3004

RMUSS1978 wrote: »

Hi, I have made a PPI claim against my £20,000 loan with RBS. I took out this loan in November 2006 when I asked for an extension to my overdraft. Rather than helping me sort out my woes with a short-term fix, they rail-roaded me into consolidation. When someone says to you, that you can pay off everything you owe and have something left over you kind of jump at the idea. Anyway skip forward two years I realised I could reclaim the £91 a month extra added onto the loan in PPI. I was a little naive when I took out the loan, but felt the advisor implied in order to help that day it was best to sign up with the PPI. I used the template provided through this site and sent it all off, they acknowedged receuipt almost two weeks after I sent it and said they would investigate up to 8 weeks from date they received it. Then about two weeks later they sent a letter saying it was still being investigated. Finally this week I got a bulky A4 envelope through the post, answering all the points and saying I didn't have a claim. However as a goodwill gesture I could accept a £750 payment. This I find to be a bit contradictory. When a bank is in financial difficulty, surely if it says it has proven in black and white I do not have a case then they would not be wasting £750 on me. Is this damage limitation on thier beahlf or is it best to accept this offer? I estimate without interest I am owed £2639. I really am unsure what to do. I strongly believe I have been mis-sold. RBS state they are not obliged to tell you you can purchase stand alone policies, which was one of my main gripes. Any help with this situation?

Hi there

There is quite a difference in the amounts I think, so personally in my opinion I would ask them if they could higher the amount.

They may be trying this on and hoping you will accept that offer.

They do tend to try to fob off with the lowest of the offers at first, but if your not happy and they will not higher the amount for you, you should have the opportunity to take this to the Financial ombudsman service.

But be beware the volumes of these complaints are very high and you may be waiting a while, unless your stuggling with financial hardship, you could let the FOS know in order for them to consider fast track for you, but its not always guaranteed.

Hopefully RBS will higher the amounts for you hun, but if not the FOS is another direction you can take.

Also check out the success thread on here and check out the RBS success and post up there as well if you want to where the ones who have had dealings with these may give you some helpful info and advice, good luck hun, keep at them.;)

Di
X

amersall

RMUSS1978 wrote: »

Hi, I have made a PPI claim against my £20,000 loan with RBS. I took out this loan in November 2006 when I asked for an extension to my overdraft. Rather than helping me sort out my woes with a short-term fix, they rail-roaded me into consolidation. When someone says to you, that you can pay off everything you owe and have something left over you kind of jump at the idea. Anyway skip forward two years I realised I could reclaim the £91 a month extra added onto the loan in PPI. I was a little naive when I took out the loan, but felt the advisor implied in order to help that day it was best to sign up with the PPI. I used the template provided through this site and sent it all off, they acknowedged receuipt almost two weeks after I sent it and said they would investigate up to 8 weeks from date they received it. Then about two weeks later they sent a letter saying it was still being investigated. Finally this week I got a bulky A4 envelope through the post, answering all the points and saying I didn't have a claim. However as a goodwill gesture I could accept a £750 payment. This I find to be a bit contradictory. When a bank is in financial difficulty, surely if it says it has proven in black and white I do not have a case then they would not be wasting £750 on me. Is this damage limitation on thier beahlf or is it best to accept this offer? I estimate without interest I am owed £2639. I really am unsure what to do. I strongly believe I have been mis-sold. RBS state they are not obliged to tell you you can purchase stand alone policies, which was one of my main gripes. Any help with this situation?

they are fobbing you off, take this to the ombudsman natwest/rbs are settling claims for mis sell they are hoping you take the good will payment, there has been a lot of coverage about these goodwill payments and the advice is not to accept, please keep at this as you have a lot more to gain. good luck

dec22

My experience with RBS was that where they had copies of the agreements available they made a goodwill gesture of £750. Where they couldn't provide the agreements they refunded premiums and interest paid.

di3004

dec22 wrote: »

My experience with RBS was that where they had copies of the agreements available they made a goodwill gesture of £750. Where they couldn't provide the agreements they refunded premiums and interest paid.

How long ago was this hunni?

And how long ago did you take this policy out, was it the last 6 years or more?

If longer than 6 years they do not always keep records, unless the loan is still active to what I know of.

Were you happy with the outcome of this hun?;)

xxisabellexx

xxisabellexx wrote: »

Hi all, wondered if I might get a little advice...

I am trying to reclaim missold PPI on a Lloyds loan for my mum. We sent the first letter in January 08 and the second letter in Feb 08. We received a final response from them (saying jog on, as you may have guessed) in March 08. I suggested to my mum to continue with the claim by going to the ombudsman. For whatever reason; being scared off by the letters from Lloyds or general apathy, the ombudsman form sat untouched for the best part of a year. In Feb 09, we decided to start trying to reclaim bank and credit card charges and agreed to look into the PPI reclaim again.

The ombudsman have replied today saying that because its been over six months since the final response, 'we cannot deal with such cases unless the ombudsman is satisfied that there are exceptional cicumstances for the delay in referring the matter to us or the firm does not object to our considering your complaint'.

Does anyone have any experience with how 'exceptional' the circumstances have to be? Is there any point in us carrying on with the claim or are we just wasting our, and the ombudsmans, time?

TIA

di3004 wrote: »

Hi hun

There have been a few on here this has unfortunately happened to.

However, if you had a good reason why you did not continue with this last year, maybe personal reasons for example the FOS may consider this.

But another way is, write to lloyds again, (it may work, it may not but maybe worth a try) and tell them you want this treated as a brand new complaint, you strongly believe you were mis sold because of your reasons and would appreciate if they considered investigating this for you.

Unless others have other ideas here for you hunni, I do wish you luck though and hope they do take another look at this for you, but again if you had personal reasons of why you did not move this forward let the FOS know.

Good luck and please keep us posted.;)

Di
x

Thanks for your help and speedy reply. I have been thinking about it over the last couple of days and I, personally, would like to continue trying.

Im thinking of drafting a version of the second template letter, but including something about the recent media coverage of the banks deliberatly saying no to all PPI claims to put people off and asking them to look into it again otherwise we will go to the ombudsman.

What do you guys reckon? Is that a good idea or shall I try it as a completely new claim? And if Lloyds then reply to my letter offering a second, updated, version of a final response, will the Ombudsman accept that and investigate for us?

Thanks again
xx

di3004

xxisabellexx wrote: »

Thanks for your help and speedy reply. I have been thinking about it over the last couple of days and I, personally, would like to continue trying.

Im thinking of drafting a version of the second template letter, but including something about the recent media coverage of the banks deliberatly saying no to all PPI claims to put people off and asking them to look into it again otherwise we will go to the ombudsman.

What do you guys reckon? Is that a good idea or shall I try it as a completely new claim? And if Lloyds then reply to my letter offering a second, updated, version of a final response, will the Ombudsman accept that and investigate for us?

Thanks again
xx

Hi hun
Personally in "my" view I think its worth another try, and if you have more reasons to add you can if you want to do that as a brand new complaint, and mention you are hearing more and more of this mis selling in the media all the time and you feel strongly let down which is so unfair that this matter was not corrected and resolved.

So you can either go for a brand new complaint.

or

Carry this on and tell them you have not continued with this within the timescale due to personal reasons, but know you were mis sold this by learning more of this in the media recently and feel you have rights to have this resolved.

Go for it hun, I'm sure we can try other things out if this does not work.;)

Just to add if they do decide to investigate this and do not uphold your complaint, you should then be able to take this to the FOS again, as the loan company did investigate X

Good luck

Di
X

waltermcculloch

Hi,

I take it that the following letter is only applicable to the late charges?

http://images2.moneysavingexpert.com/attachment/cc_letter1.rtf

di3004

waltermcculloch wrote: »

Hi,

I take it that the following letter is only applicable to the late charges?

http://images2.moneysavingexpert.com/attachment/cc_letter1.rtf

Hi hun

I am having problems with opening some links right now, but hopefully Turbo will be along soon to check this out for you.;)

Did you get the chance to check this link out here also: This is for reclaiming bank charges though.
http://www.moneysavingexpert.com/reclaim/bank-charges#step2

maxdp

Hi Dizzy Di

How you doing. Did not understand PM do I have info still to reply to. x