RBS Where to go now?

Avenger2

This is my first time on this website so I,m sorry if its in the wrong place, I just need a bit of advice of what to do next


I will try to keep this keep this a brief as possible,
Approx 5 years ago I was self employed, due to problems with cash flow I had 2no over draughts with the RBS, one in my current account and one in my business account. The RBS decided that it would be best for them to offer me a consolidation loan to clear my over draughts, they gave me 24 hours to make up my mind or they would recall both.

At that time I had no choice than to sign the credit agreement and take out the loan, It wasn’t until July of this year that I looked into the PPI issue due to the press and of course this web site, I was paying 80 pounds a month for PPI, I sent a letter to RBS to cancel the insurance, the response I got from the RBS was their insurance people would contact me with confirmation of the cancellation, I expected RBS then to re-calculate the loan and send me another agreement, to this date I have only received standard unsigned letters stating that they are carrying out their investigations and would be in touch in the near future.

I wrote a letter back explaining that if they read the credit agreement they would see that I had cover for redundancy, at the time of taking out the loan I was self employed, therefore I feel I was miss-sold insurance, the credit agreement and all communications are now with the Ombudsman,

I was made redundant in August of this year, I am now employed but have had to work a month in hand, my salary went into the bank on Friday, I got a statement out of the local ATM , I had expected my account to be overdrawn due to my unemployment for a month, when I checked I had approx 400 pounds bank charges,

I phoned the bank and was told that my loan was in arrears and had been since July, I explained about the PPI claim of which she said that the department I was speaking to have no knowledge of!!

The lady then proceeded to arrange for the loan to be consolidated encompassing my current over draught, bank charges and 5 months arrears on my loan, I tried to explain that the bank hadn’t taken out any loan payments since my PPI claim back in July so how can they apply any bank charges?

We received the new loan agreement on Tuesday morning for us to sign and send back,

They did say that they would arrange for another over draught limit of 1000 pounds but this would not be available until they received the new signed loan agreement!!

I have sent an Email to the person handling my case at Ombudsman’s office explaining all communications, but they have said that due to the amount of claims they are dealing with it will be next month before they can do anything with my case.

Can anyone offer any advice on what to do next, I have called the bank about my complaint, they gave me a reference number on Tuesday and said someone will call me, it is now Friday and I haven’t heard anything.

natweststaffmember

Avenger2 wrote: »

This is my first time on this website so I,m sorry if its in the wrong place, I just need a bit of advice of what to do next


I will try to keep this keep this a brief as possible,
Approx 5 years ago I was self employed, due to problems with cash flow I had 2no over draughts with the RBS, one in my current account and one in my business account. The RBS decided that it would be best for them to offer me a consolidation loan to clear my over draughts, they gave me 24 hours to make up my mind or they would recall both.

At that time I had no choice than to sign the credit agreement and take out the loan, It wasn’t until July of this year that I looked into the PPI issue due to the press and of course this web site, I was paying 80 pounds a month for PPI, I sent a letter to RBS to cancel the insurance, the response I got from the RBS was their insurance people would contact me with confirmation of the cancellation, I expected RBS then to re-calculate the loan and send me another agreement, to this date I have only received standard unsigned letters stating that they are carrying out their investigations and would be in touch in the near future.

I wrote a letter back explaining that if they read the credit agreement they would see that I had cover for redundancy, at the time of taking out the loan I was self employed, therefore I feel I was miss-sold insurance, the credit agreement and all communications are now with the Ombudsman,

I was made redundant in August of this year, I am now employed but have had to work a month in hand, my salary went into the bank on Friday, I got a statement out of the local ATM , I had expected my account to be overdrawn due to my unemployment for a month, when I checked I had approx 400 pounds bank charges,

I phoned the bank and was told that my loan was in arrears and had been since July, I explained about the PPI claim of which she said that the department I was speaking to have no knowledge of!!

The lady then proceeded to arrange for the loan to be consolidated encompassing my current over draught, bank charges and 5 months arrears on my loan, I tried to explain that the bank hadn’t taken out any loan payments since my PPI claim back in July so how can they apply any bank charges?

We received the new loan agreement on Tuesday morning for us to sign and send back,

They did say that they would arrange for another over draught limit of 1000 pounds but this would not be available until they received the new signed loan agreement!!

I have sent an Email to the person handling my case at Ombudsman’s office explaining all communications, but they have said that due to the amount of claims they are dealing with it will be next month before they can do anything with my case.

Can anyone offer any advice on what to do next, I have called the bank about my complaint, they gave me a reference number on Tuesday and said someone will call me, it is now Friday and I haven’t heard anything.

First point, DO NOT SIGN the new loan agreement yet.
Are you claiming on the PPI or are you claiming misselling on the PPI?
Is the account only used for the loan?
Have you started the process of reclaiming bank charges yet?
Is this account the main account you use?

Avenger2

Thanks for replying, sorry for the delay
1/ Nothing has been signed yet, I'm waiting for RBS to call me to confirmation exactly what has been included in the new agreement.

2/ We are claiming that the PPI was miss sold

3/ No it is our current acc.

4/ No I was going to wait until the PPI was sorted.

5/ Yes my salary and standing orders/direct debits are all tied up in this account

natweststaffmember

Ok, can you repost the first post on the PPI forum and explain you are reclaiming the PPI.
They will definitely help you do that.

Avenger2

Hello again
With regard to the PPI reclaim, I haven't got any real problem with that as such, I have a case number etc from the Ombudsman. They have all the information/communication between both parties, my biggest concern at the moment is that the person at RBS I spoke to last week has said they were not aware of my PPI reclaim and as far as they were concerned the loan remains in arrears, therefore they have set up the new agreement to consilidate all the arreas plus the bank charges, I have asked for a breakdown of the loan figure but have not recieved answer back from them.
I'm also concerned that when I originally cancelled the insurance in July, I received a letter from the RBS to say they were in recept and their insurance people would be in touch, this has never happened despite my letters to them, I just keep receiveing standard letters back (unsigned) asking for more time to do their investigation.

natweststaffmember

Avenger2 wrote: »

Hello again
With regard to the PPI reclaim, I haven't got any real problem with that as such, I have a case number etc from the Ombudsman. They have all the information/communication between both parties, my biggest concern at the moment is that the person at RBS I spoke to last week has said they were not aware of my PPI reclaim and as far as they were concerned the loan remains in arrears, therefore they have set up the new agreement to consilidate all the arreas plus the bank charges, I have asked for a breakdown of the loan figure but have not recieved answer back from them.
I'm also concerned that when I originally cancelled the insurance in July, I received a letter from the RBS to say they were in recept and their insurance people would be in touch, this has never happened despite my letters to them, I just keep receiveing standard letters back (unsigned) asking for more time to do their investigation.

If the FOS gave you a reference number or even RBS Bank who you would have contacted firstly in the process then tell them this.

Avenger2

Ok I will call them in the morning and quote all ref nos, my origanal call to them on Friday morning was to find out what the bank charges were for, I only requested that these be remburised, but it would appear that they have tried to draw up another loan agreement to clear the uncollected loan payments from July, another point I haven't checked is my credit file.
Should I try and recover costs for my time in respect of checking my credit file etc, I don't get much chance to do any chasing up at work so most of this I will have to do on my return from work

natweststaffmember

No I wouldn't at the moment.

Avenger2

OK no problem, I have copies of all communications with dates etc, of which I relay back to RBS in the morning,
Thanks for your help and I will add an update tomorrow night if there are any developments.
Regards

Avenger2

Just recieved letter back form RBS, I don't think it is an answer to the letter I have sent as it is dated the 10th Nov the same day I sent mine.
However I think it is a result from the numerous telephone calls I made, they have refunded 228.00 pounds, but this is purley as a good will gesture as they feel the charges were levied correctly,
Obviously it is great news but I am concerned on how they have put together the new credit agreement, as I think that they have included the loan payments from July which also include the PPI payment which I cancelled in July.
Keep you posted as they will have my letter now.

natweststaffmember

Avenger2 wrote: »

Just recieved letter back form RBS, I don't think it is an answer to the letter I have sent as it is dated the 10th Nov the same day I sent mine.
However I think it is a result from the numerous telephone calls I made, they have refunded 228.00 pounds, but this is purley as a good will gesture as they feel the charges were levied correctly,
Obviously it is great news but I am concerned on how they have put together the new credit agreement, as I think that they have included the loan payments from July which also include the PPI payment which I cancelled in July.
Keep you posted as they will have my letter now.

Is the £228 bank charges or PPI?