Missold Loan Protection from RBS so no protection for my RBS loan

JFT_2

I have had a loan with the RBS for several years, when I took out the loan I explained to the RBS that I worked abroad in areas that may not be covered by the Loan Protection, after several visits to the RBS and letters to them and the FSA they agreed that I was correct, I got my money that I paid in for the protection ( no letter to explain why just a cheque) but it left me with a loan that was not protected.
I am now made redundant and have a loan that I am having difficulty in paying off, the RBS have made no effort to assist me even though I have contacted them on several occasions.
Can anyone suggest anyone that I can speak to, so that I can try and get some compensation or move forward.

ILW

I cannot see that you are likely to get any compensation. Due to your travelling you were unable to get insurance and were repaid the premiums on a mis sold policy. The ability to insure a loan is not a right.

JFT_2

Hi ILW,
The problem was when I took out the loan protection with the RBS and did tell them where I was working, they said it was not a problem. According to the bank my travelling abroad to the countrys I worked in where covered by their Loan guard protection. They obvioulsy did not check to see if the countrys I worked where indeed not covered by Life Guard.

Rafter

JFT,

They have refunded your premiums and they have no liability to you. When you found out that you were not covered, you could have obtained income protection insurance independently but RBS don't have any liability because you didn't.

If you are having problem paying your debts, speak to CCCS or debtline or Citizens Advice who will help you to negotiate with your creditors.

R.

simon_templar_2

Exactly as Rafter says, why should you get compensation? It is upto to you to look out for yourself.