Rbs Claimback offer Delayed

russell_M_2

Hi,
Im new to the forum but thought I'd ask you all for some advise where to go next. Using martins template letters id started my claim in november, after 3 letters from rbs I then recieved a letter the end of january where due to them not accepting responsibility they offered to pay me the interest and installments part of my loan £2185 - but not the initial amount £2840 automatically added to the loan. Anyway Due to extreme financial pressure I accepted there offer of "2185" under the assumption from their letter, that they "anticipated" that the payment will be made WITHIN 28 DAYS of the reciept of the acceptance (1st Feb). Well, that was 28 days ago so I phoned up to which i received the fob off that their database was busy but that 28 days were just an approximation time. I will be phoning back today but Im really unsure what to do? If anything the money is really needed as im overdrawn with my mortgage due to relying on this money coming in. Any ideas people? surely the claim status had matured to a stage where they offer you an amount what more do they need to do other than pay me back the money??

donotpassgo_2

Hi and welcome to the board. I'm sorry that this is happening to you, some companies seem to take ages coughing up however the interest will be adding up until the date they pay you, probably not much consolation when you are desperately needing the money. I would phone them asking for the date that they are paying you and lay it on thick how much hardship you are experiencing because of the delay. Remember to stay polite good luck let us know how you get on.;)

marshallka

russell_M wrote: »

Hi,
Im new to the forum but thought I'd ask you all for some advise where to go next. Using martins template letters id started my claim in november, after 3 letters from rbs I then recieved a letter the end of january where due to them not accepting responsibility they offered to pay me the interest and installments part of my loan £2185 - but not the initial amount £2840 automatically added to the loan. Anyway Due to extreme financial pressure I accepted there offer of "2185" under the assumption from their letter, that they "anticipated" that the payment will be made WITHIN 28 DAYS of the reciept of the acceptance (1st Feb). Well, that was 28 days ago so I phoned up to which i received the fob off that their database was busy but that 28 days were just an approximation time. I will be phoning back today but Im really unsure what to do? If anything the money is really needed as im overdrawn with my mortgage due to relying on this money coming in. Any ideas people? surely the claim status had matured to a stage where they offer you an amount what more do they need to do other than pay me back the money??

Hi, you could give them a letter before action (don't know if there is a template!!) OR write to give them 7 days and then take it to FOS although FOS could be along time also. I bet they are just busy and it is frustrating but if you just keep hounding them perhaps it will shift their asses.

di3004

I agree a letter before action (LBA) may help as Marshallka suggested and also try to find out who the Chief Executive for these are too, send them a copy of the letter your sending to the refunds team.

I did have a LBA, will try to find it if I can, but yes otherwise write to them and give them 14 days or tell them you are considering further action as they have already had ample time to sort this out and refund this by now.
Good luck.

russell_M_2

Thank you people, I'm calling in an hour, I think that they have had long enough. In my small understanding of the process once i'd accepted their offer I didnt know if I could complain to the FO or even if I'm legally bound to that offer they made me e.g. adding interest applied ontop of offer until they pay up or wither theyre entitled just to offer the sum they stated etc. If anyone has got a template of LBA that would be really usefull if things dont work out today. Ill will be pushing for a solid date when they think ill be payed but not holding my breath.
Thanks again...R

di3004

Found this here from the CAG website, I'm sure they won't mind you using it lol, but you will need to tweak for your circumstances.
Remember your account number etc, and any copies of letters you have received from them in relation to the offer, do not send any originals, good luck.

Remember to tweak.

Hope this helps.


Dear


I am in receipt of your letter dated xx/xx/xxxx in which you respond to my assertion that RBS has Mis-Sold Payment Protection Insurance (PPI) to me when I took out the above loans.

I am please that you agreed to refund in full including interest of £ and not use this fund for any offsets, which resulted from deliberate mis-selling of the PPI initially. I will not accept to any new loan agreement until my PPI is fully refunded.

[FONT=&quot]PPI is not a compulsory product when taking out a loan, and adding PPI to my loan account in this way is a clear breach of both FSA regulations and guidelines and the Banking Code of Practice provided to the financial services industry. As a respected financial organisation, you will have been quite aware of these regulations and this makes your organisation's action even more serious. It is extremely poor business practice to say the least.[/FONT]


[FONT=&quot]I would remind you that the FSA takes the Mis-Selling of PPI extremely seriously and you will be aware that recent investigations by both the FSA and the Competition Commission have found that lenders continue to engage in "poor sales practices" and that "customers were not informed orally of both the monthly and total cost of their PPI". (FSA report, 30 September 2008.)[/FONT]

[FONT=&quot]I would also draw you attention to the FSA’s latest report on the 29th September 2009 titled FSA unveils tough measures to protect PPI consumers[/FONT]

[FONT=&quot]I request the refund of all moneys paid to you for the above policies including contractual interest within 14 days of receipt of this letter by you. I will not agree to accept any new agreement until I have received my full refund in cleared fund. If you do not comply with my request, I will have no option but to escalate my claim to the fos and the civil courts. I should remind you that the fos take the issue of Mis-Selling of PPI extremely seriously and in many cases, have imposed large fines on financial institutions who are in breach of regulations.[/FONT]



[FONT=&quot]Yours sincerely[/FONT]

russell_M_2

Hi thanks all, phoned today, and was told that my money will be processed in a couple of days - he could'nt elaborate on that or a specific date... (How did he know it would be a couple of days I wonder?) So I guess im gonna have to taylor the template letter, sent by di3004 (Thanks)....but I will give them the benefit of the doubt till the end of the week at least... what a laxative merry-go-round though.

di3004

russell_M wrote: »

Hi thanks all phoned today, and was told that my money will be processed in a couple of days - he could'nt elaborate on that or a specific date... (How did he know it would be a couple of days I wonder?) So I guess im gonna have to taylor the template letter, sent by di3004 (Thanks)....but I will give them the benefit of the doubt till the end of the week at least what a laxative merrygo round though.

Fingers crossed Russell that you won't be waiting too long.:beer:

russell_M_2

Thanks I hope so too sick of eating cornflakes morning noon and night heh

di3004

russell_M wrote: »

Thanks I hope so too sick of eating cornflakes morning noon and night heh

Yeah lol :beer: