RBS -Double indemnity

Mikeone

Hi all

I've got a loan with RBS (Natwest) for which they insisted I take PPI. They said they could not grant the loan without this. It was part of a 'consolidation chain' (their term) and I have a copy of the CCA for the most recent portion. PPI premium of just over £4k. I put in a claim for that amount, but they wrote back to me yesterday offering just over £2k for three other loans, which I had taken out earlier in the chain. Today I received a letter offering me the £4k for the other loan.

Magic. Except for that...

...each offer is claimed via a form which essentially indemnifies RBS against any other claim I make. So, if I send both forms back, they could honour the £2k, but say that by claiming it, I have indemnified them against the £4k. See my dilemma?

Naturally, I will call them on Monday to speak to them about it, and I am prepared to seek professional legal advice (will be worth it to claim the full amount) but I wanted to know if anyone here has experienced a similar thing?

It could well be the honest result of having multiple PPI liabilities, but having dealt with this company for ten years I know how crafty they can be!

smitchy73

Is it not a case that they are indemnifying themselves from any future claims against them under that loan/ppi policy, rather than subsequent loan complaints.

Some thing you'd need is the full breakdown of their calculation of the redress of each of the complaints, this should tell you how they have come to their amount.

If each of your loans has paid off the previous one there will be an amount carried forward to the next loan and there would have been a certain amount rebated(although probably not much).
If you can post the redress figures some resident experts should be able to help.

Mikeone

Thanks @smitchy73

I think you're right about them being indemnified against the particular loan account -looking again at the forms, they have worded it as follows.

I wish to accept the Bank's goodwill offer of £xxxx on the basis that such an offer is accepted full and final settlement of all or any claims which I might have agains the Royal Bank of Scotland Group or any subsidiary companies in respect of my NatWest Payment Protection Insurance Policy for Loan Account Number xxxxxxxxxx (my emphasis)

They are all for separate loans and the redress calculation seems to have accounted for this.

It looks like both offers are valid and not mutually exclusive.

smitchy73

Excellent that sounds about right, it just means that once you accept their offer on each loan you can't go back in the future to have another go!

I'm hoping mine's will be in soon, I've got 5 complaints of mis-selling in to RBS, so fingers, toes and all other things crossed.

Mikeone

Cheers smitchy, very best of luck with your claim. Hope you get it all back

:beer:

smitchy73

so do I my friend.

Topkapi

Put three claims in to RBS las September on three separate loans. Got paid out on the first two loans from 2002 and 2003 at the begining of December. Am still waiting for the third claim to be settled. They say they are dealing with them in date order of receipt but that can't be right as they have acknowledged that they received all of them on the same date last year. You are correct in thinking that each offer letter only refers to the account number stated on the offer letter. You should receive separate letters for each claim.