Loan PPI - RBS

kittycat65

Hi folks

Been on here previously with a few PPI questions in relation to CC's. Turns out I didn't have any.... :cool:

Turned my attention to loans. Basically I have had loans with RBS since February 2000, until the present day. I have rescheduled and topped these up several times along the way. I did not have the loan reference numbers apart from the current one, so I wrote off to RBS requesting these. I also asked if I had PPI on any of them (as I knew I would never have asked for it, and if I was asked I would have said no due to ample employment cover).

Today, I received a letter providing me with the reference numbers. The letter says
"If you believe a Payment Protection Policy may have been mis-sold, you can make a complaint via any branch, or alternatively, please contact the PPI Complaints unit"

Attached was a schedule as follows:

Date Opened Date Closed Loan Amount PPI Premium
15/2/2000 20/3/2001 £7000 Yes
20/3/2001 12/9/2002 £15000 No
12/9/2002 13/5/2004 £19000 No
13/5/2004 18/11/2004 £21000 No
18/11/2004 7/12/2007 £22000 No
7/12/2007 Present £25000 No

Now, am I right in saying that I had PPI on a loan of £7000 from February 2000 to March 2001? The schedule also says "amount of loan does not include any PPI premium is this was attahced to the loan"

I don't want to get unneccessarily excited here if I am not due anything. If I am though, would I be right in saying that I would be entitled to a refund of the PPI premium, plus 8% on top, by way of compensation?

Grateful for any advice or guidance.

Kitty

amersall

Put the claims in, these were Single Premium PPI and this is the reason that you use for mis sell, PPI from every loan you took would have had the remaining PPI after the rebate at settlement, put onto the next loan and so on.

kittycat65

Thanks for the reply amersall.

I know I am probably being thick here, but do you mean that I should put in a claim for all the loans? I was going to just submit a claim for the one for £7000.

If I understand you correctly, do you mean that when that loan was settled and rolled over to the next one, an element of outstanding PPI would also have been added?

Does this mean I may be due more than if it was just related to the loan for £7000?

Thanks again for your help.

Kitty

jdwmfc

kittycat65 wrote: »

Thanks for the reply amersall.

I know I am probably being thick here, but do you mean that I should put in a claim for all the loans? I was going to just submit a claim for the one for £7000.
Claim for the £7000

Does this mean I may be due more than if it was just related to the loan for £7000?

Kitty

In short I think the answer is yes, however it is not guaranteed you will win and therefore do not spend any money yet. HAHAHA


I think if you use the FOS questionnaire you will complain about the first loan as that had PPI and then there is a section to explain further details. You can point out that the loan was consolidated several times. And include a copy of the information they have sent you.

Ensure you have a strong case there is no point saying because they told me I had to.

Have a look on the main PPI page for the questionaire and info on how to fill out.

Good luck,

kittycat65

jdwmfc wrote: »

In short I think the answer is yes, however it is not guaranteed you will win and therefore do not spend any money yet. HAHAHA


I think if you use the FOS questionnaire you will complain about the first loan as that had PPI and then there is a section to explain further details. You can point out that the loan was consolidated several times. And include a copy of the information they have sent you.

Ensure you have a strong case there is no point saying because they told me I had to.

Have a look on the main PPI page for the questionaire and info on how to fill out.

Good luck,

Thanks again for the reply. I am actually gobsmacked to find that there was PPI on this loan. Any time I was asked if I wanted PPI, I always refused. This is because I do not need it. I have an excellent SSP package as well as generous death in harness benefits and pension. So, I won't be saying "because they told me I had to". In fact they didn't even tell me I had it at all!!

I have a credit card and £10,000 remaining on my loan, which is due to finish in 2014. Am I correct in saying that any refund that may be due will be offset against my remaining debt? This would be fine if that's the case, as at least it will reduce my monthly outgoings somewhat and maybe free up a wee bit of cash.

As always, grateful for any help.

Kitty

jdwmfc

kittycat65 wrote: »

Thanks again for the reply. I am actually gobsmacked to find that there was PPI on this loan. Any time I was asked if I wanted PPI, I always refused. This is because I do not need it. I have an excellent SSP package as well as generous death in harness benefits and pension. So, I won't be saying "because they told me I had to". In fact they didn't even tell me I had it at all!!

I have a credit card and £10,000 remaining on my loan, which is due to finish in 2014. Am I correct in saying that any refund that may be due will be offset against my remaining debt? This would be fine if that's the case, as at least it will reduce my monthly outgoings somewhat and maybe free up a wee bit of cash.

As always, grateful for any help.

Kitty

They can use it to offset your debt if it is with the same bank. Sounds like a good plan anyway to be honest. I am really pleased for you.

kittycat65

jdwmfc wrote: »

They can use it to offset your debt if it is with the same bank. Sounds like a good plan anyway to be honest. I am really pleased for you.

Yes, it is the same bank. I just hope that I am succcessful and that it is a decent amount that is due back, as right now I don't have a clue what the figures could be!!

Kitty

kittycat65

kittycat65 wrote: »

I just hope that I am succcessful and that it is a decent amount that is due back, as right now I don't have a clue what the figures could be!!

Kitty

Actually.....would any kind person have any kind of a rough idea of what we may be talking about here? Difficult I know without exact amounts, but could it be 2 or 3 figures?

Thanks again in advance.

Kitty

jdwmfc

kittycat65 wrote: »

Actually.....would any kind person have any kind of a rough idea of what we may be talking about here? Difficult I know without exact amounts, but could it be 2 or 3 figures?

Thanks again in advance.

Kitty

Don't get too excited, fill out the questionnaire, make sure you have some good reasons clearly stated.
Send it.
Then make a cup of tea, read a book and wait for their response. Carry on with your life as normal!!! Don't attack the postman daily and do not try and work out how much you will get as if you are not successful it will just make you feel really really p***** off.

Think of it as a happy bonus if it turns up and in the meantime enjoy the British summer.

kittycat65

jdwmfc wrote: »

Don't get too excited, fill out the questionnaire, make sure you have some good reasons clearly stated.
Send it.
Then make a cup of tea, read a book and wait for their response. Carry on with your life as normal!!! Don't attack the postman daily and do not try and work out how much you will get as if you are not successful it will just make you feel really really p***** off.

Think of it as a happy bonus if it turns up and in the meantime enjoy the British summer.

Oh I have good reasons alright!

You are right of course I know. I have to be patient - just a shame patience (or the lack of it) is my very worst trait :eek:

I anticipate a very stressful few weeks ahead for me. Tormenting myself already wondering what the figures may/may not be...:(

Kitty

kittycat65

Questionnaire now complete and ready to post off tomorrow!

I genuinely didn't know that I had PPI until I wrote off to RBS asking for my loan account numbers so I have used that as a reason for being mis-sold i.e. I didn't know I had it, it was just added on.

I have also stated that I have generous SSP, redundancy and death in harness cover from my employer, with whom I have worked for 27 years.

I complained to about it being single premium PPI and have pointed out that the loan has been consolidated a further 5 times, from £7000 to £25000 since the year 2000.

I hope these reasons will be enough for my complaint to be upheld and that they won't take too long to get back to me. Any award, no matter the amount, will make such a difference to me.

Thanks for the support so far.

Kitty