RBS Taking repaid PPI back out of account!!! - not impressed!!

swilllis11

My partner received 6 or 7 offer letters regarding the loans he had with Natwest, he signed the acceptance forms, all totalling around £7000. we were so chuffed as we are in the process of buying our first home so the money is really needed!

He received most of the money within a month, however not the larger amounts - one for £1500 and one for £3000 (approx). the day after he got most of them, he then received the £1500 one. great, he started to pay off the debts with the money that was built up in his account. EXCEPT the following day on checking the account, they had taken the £1500 BACK OUT leaving him over his overdraft limit by a long way with no explanation.

He has been calling and calling to find out whats gone on and why he hasnt had the rest of the money, and finally got an answer.
Apparently the acceptance letters they sent for these were calculated incorrectly - he should only be getting £1100 instead of £4500. We are so angry - surely once you have accepted their offer, signed and dealt with they cannot change their minds and pay us a lot less??

Also, he is extremely angry that they felt it was within their rights to WITHDRAW money out of his account that they had paid him upon acceptance..

Any advice would be much appreciated - we are not happy - surely they just cant do this?

DevCoder

If the calculations add up then they can, did you not calculate the PPI claim value yourselves? If so what figure did you come to?

swilllis11

we do not have the details anymore - these loans were a while ago, but the calculations on the acceptance forms all added up correctly.
i am more annoyed about the fact that they gave him the money, then decided 'oh actually its wrong' and decided to thieve it from his bank account!

DevCoder

They didnt "thieve" it though, if the calculations (re-calculations) were correct then they are entitled to take it back.

This is why it's important that you calculate a PPI claim and tally this against what is offered.

Might have been courteous of them to give you advance notice though.

DevCoder

Totally off topic, you're not a contributor to the flume programming code?

Just the name seemed to ring a bell?

swilllis11

don't even know what that is, sorry! lol

its just very gutting to think that you were going to be given £4500 then actually get £1100. i know, i know, we are very grateful that we have been able to retrieve anything back at all, and extremely chuffed that we have been able to clear most of our debts with our combined repayments, i dont mean to sound spoilt!

thank you for your advice

DevCoder

Thats why its important you get the ppi details back and calculate it yourself otherwise you have to trust what the other party says.

I'd get the paperwork back before rolling over on this one tbh.

good luck.

swilllis11

we have requested details for both of out personal loans and paid the £10 each, but all we got were a lot of pages with numbers and dates on and none of it makes any sense tbh, and not one page states anything about ppi or any kind of insurance paid...?

magpiecottage

I am not sure in this situation. However, if it was offered in fully and final settlement of any claim you might have relating to the PPI, that would seem to amount to a contract in its own right.

You were made an offer, you accepted it and the consideration was paid.

That being so, I think you have grounds for a completely different complaint.

Hang on to your offers for the old one - you may need them.

marshallka

We had a similar thing happen with a rebate complaint. We were made an offer and accepted in email and also telephone call and then the next day they said they had made a mistake and the amount was reduced by a couple of grand (a lot to us)..... Ours was not paid out though but we had already got plans and got the ball rolling on one or two and had to cancel costing us money in the end...... I know that the original offer was actually correct (rule 78 and very complicated) but we know FOS were siding with the firm and the firm were giving us only a number of days to either accept or decline. We NEEDED the money and had no other option than to accept.
I had asked FOS (as this was a complaint that FOS had in their system but was settled outside of FOS) and was told that they are quite enitled to withdraw their offer if a mistake was made. I hope you get somewhere with this as I feel we were misguided maybe.

paulgreen222

I am requesting a breakdown of my account from RBS, can anyone tell me who I should make the check payable to, I want to avoid delays as much as possible. thanks