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Endowment !!!! up advice needed
Snapshot
Posts: 1 Newbie
Hello all,
I have received a letter and cheque for over £13,000 from Royal London for an endowment policy which has matured.
But I had already cashed in the same policy in 2005 for just over £11,000 after advice from the RL as the policy was mis-sold to me.
I have written to the Company on three occasions and has yet I haven't had a letter back.
I did ring Royal London and was told that the money was mine, then received a call back straight away saying it wasn't and that they had made an error.
I asked the young lady to put it into writing, that was 5 weeks ago and still haven't had a reply.
I took this info to the Citizens Advice Bureau who couldn't help and were as confused as me when they read the letter which came with the cheque.
Anyone out their got any suggestions?
I presume it is a criminal offence to cash the cheque thinking I may have already received this money (well £2,000) less of it 8 years ago.
Mark
I have received a letter and cheque for over £13,000 from Royal London for an endowment policy which has matured.
But I had already cashed in the same policy in 2005 for just over £11,000 after advice from the RL as the policy was mis-sold to me.
I have written to the Company on three occasions and has yet I haven't had a letter back.
I did ring Royal London and was told that the money was mine, then received a call back straight away saying it wasn't and that they had made an error.
I asked the young lady to put it into writing, that was 5 weeks ago and still haven't had a reply.
I took this info to the Citizens Advice Bureau who couldn't help and were as confused as me when they read the letter which came with the cheque.
Anyone out their got any suggestions?
I presume it is a criminal offence to cash the cheque thinking I may have already received this money (well £2,000) less of it 8 years ago.
Mark
0
Comments
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I think I remember a case of a woman who received thousands into her bank. They kept telling her it was hers and she eventually used it , was then subsequently taken to court.0
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You have no legal entitlement to money that you know is an error. You could present the cheque and earn interest on it and then pay them back when they ask for it. Nothing wrong with that as long as you dont spend it. If you are in receipt of means tested benefits, do not present the cheque.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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Dunstonh comments are good, as you might benefit and can't lose. I'd be tempted to raise as a complaint with them with an expectation of a small goodwill payment once they've asked for the money back due to hassle and time cost to you in flagging it up.0
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