how long should it take for rbs to settle a claim for mis sold ppi

theheadlander

I am hoping that someone can help me as I am struggling to find an answer to my question.

The question is how long does a bank in this case RBS have once they have admitted they have mis-sold PPI in writing before they must issue the money back to me?

Back ground
For the past 10 years i have been forced by rbs to pay PPI on 2 credit cards that I took out in the early 90's. I canceled the PPI on both card 3 times & have evidence at RBS accepted the cancelations only to then re-instate the PPI 4 months later. I have taken solicitors on to take on the case.

RBS have agreed that they were at fault and issued a small part of the money out standing to me via the solicitors. However the solicitors have told me that although RBS have admitted fault for all & issued all of the smaller amounts requested. The 2 larger amounts are still yet to be agreed in value although they have been agreed in principle. It is now 10 weeks since I received a letter from RBS saying they would return the money once the 2 amount were agreed by the applicable department.

My solicitors initially said it would take 6 weeks from the letter admitting that RBS would return the money to me. I have called the both RBS & my solicitors and now am being told there is no time limit to how long RBS can take to agree to return the money to me. Could you tell me if this is correct?

Thank you for any help

di3004

Hi there

If successful, after accepting and signing the acceptance, this can be anything from as little as 2 weeks to maybe 45 days, I would contact the ones who have been dealing with your claim to get this clarified, good luck.