ppi rbs advice needed please

shooby1

hello all i am really needing some advice with regards to a missold ppi claim i have in progress, i sent my complaint off 6 weeks ago and have recieved a £750 gratis offer this morning

we have had 3 loans running with the bank since 2002 and were sold ppi on all 3 with the bank knowing we were self emloyed and not able to claim on the insurance if needs be:mad: i am sooooo mad as i have even queried this with them on numerous occasions and been told that they would not agree the borrowing without the insurance or if we cancelled they would have to reschedule the loan and would not give us the borrowing, or just blatently that we needed it to secure ourselves, i am so mad as we woud not have taken the loans if we wasnt desperate and they have conned us out of a lot of money.

the decision for the gratis payment is based on the boxes were ticked at the time of taking the loan but my argument is that we didnt even tick the boxes the advisor did and we were pushed into buying it anyway we were just told to sign here there and everywhere and in our nievety we just went along with it.

what is the best course of action now and is this par for the course for them to do this.

thank you for reading and i really hope some of you can help:D

russt2000

HI,
If they are offering you money then they know they are wrong and hoping to get rid of you cheap.
Have you sent of an SAR for all your information they hold on you and your accounts? if not do so.
If all these accounts had ppi ,do you know how much on each?
were they single front loaded{just one payment ppi and loan together}or pay seperately?
Get, all your info ,work out the ammount of ppi on each one , put another letter together demanding the full ammount , restating your reasons for misselling to them. remember if they were front loaded you have been paying interest on the ppi aswell as loan ,you want that back!! so ask for it too. aswell as having the loan restated as if it hadnt had ppi at all.
They will have 8 weeks to deal with your complaint , if thet wont budge take it to the FOS they are upholding most of these claims as they were shockingly bad.

russt2000

by the way deal by email or letter not phone ,so you have a record of whats said, send it all recorded if posting.

shooby1

sorry for sounding stupid but can you explain sar please

shooby1

and the last loan was definately front loaded

russt2000

Hi yes , an SAR is a Data information request. we are all entitled to know what information a company has on us.
it is a legal request that a company cannot refuse, they have 40 days to comply by sending you all they have , about your loans etc. it costs ten pounds, postal order ,send recorded post. if you look in the templates you will see some letters you can use ,just alter them to your particular circumstances.

so the last loan you would be paying interest on the ppi premium!! and will be paying that till the loan expires. was the loan taken out directly with the lender or through a broker? as there may also be a commisson issue too.

shooby1

thank you so much for your replies russt the loan was taken with the lender no broker was involved but i am now really bugged cos on the letter they have returned they write that all measures were taken to advise us of the loan protection then further on in the letter they say they did it on a non advice basis it just seems totally stupid.

di3004

Hi there

Link to SAR (Subject Access Request) here:
http://forums.moneysavingexpert.com/showthread.html?t=1475553

Also read the details below the template letter, this gives information of payment etc, good luck.;)

shooby1

I have now sent my complaint to the fos how long would you consider a normal time for a reply and also with them offering me the £750 could i presume that they are taking some responsibility

thanks again for all your help your all great:T

di3004

shooby1 wrote: »

I have now sent my complaint to the fos how long would you consider a normal time for a reply and also with them offering me the £750 could i presume that they are taking some responsibility

thanks again for all your help your all great:T

Hi Shooby

It maybe a week or 2 before you received a confirmation letter from the FOS, it will then be in a queing system to be passed onto an Adjudicator.

This can take a little while, but only to mention that if your in financial hardship, for example, arrears on mortgage, seeking posession etc etc, let the FOS know, and request for fast tracking.

However as soon as its with the adjucdicator, call it approx 6 weeks, if the adjudicator holds in your favour and the other party does not, then normally your case would be moved on to the ombudsman himself to investigate.;)

Hopefully it will be sooner rather than later, please keep us posted, all the best.

shooby1

hello all just recieved a letter from fos to confirm reciept of my complaint, they are saying that they are recieving a high volume of complaints at the moment but they will provide us with a response as soon as they can.

thank you