rbs pro active ppi letter

pearson27

Hi

Recently I received a letter from rbs listing 5 loans and asking why I felt it was missold.

To the best of my knowledge I didnt take ppi on any loan.

Is it likely there is ppi or are rbs just contacting every loan customer?

Thanks

dunstonh

Recently I received a letter from rbs listing 5 loans and asking why I felt it was missold.

Read it again. It probably didnt ask you why you felt it was mis-sold. Their timebar letter invites you to complain if you feel it was mis-sold.

They are issuing timebar starting letters to everyone. By doing so, it allows them to timebar complaints in three years time and put a end to this saga. It does not mean you have been mis-sold. It is just an invitation to complain

pearson27

It says they are writing about the mis selling of the policies attached to the listed loans

welshgasman

They would only send that letter out if you had ppi on any of the loans, so yes, you will have had ppi even if you didn't know you had it. Good reason to claim in that case.

I recently received a similar letter from Canada Square Operations regarding PPI on my old Egg credit card. Now I would never have taken out PPI, but they managed to catch me out.

I am currently working for a large bank processing PPI payments and have mentioned in the past 'I wish I had taken out PPI now. Full refund and 8% simple interest. Where else can you get 8% even if it is simple interest'.

My PPI payment was £11.14 and I ended up getting £17.74, over 50% extra.:T:T

Do not use a Claims Management Company, that is just throwing away at least 25%.

dunstonh

So, they are admitting they have mis-sold? Or are they inviting you to complain if you think you have been mis-sold?

pearson27

Admitting by the looks of. Never ever wanted it. I have full sick pay and work for a bank. Fingers crossed then

dunstonh

If they are admitting a mis-sale then they would offer you an amount. If they are inviting a complaint if you wish to make one then they would not offer an amount.

pearson27

No they would need to investigate then makeman offer depending on my response

welshgasman

They are only inviting you to make a complaint. You will have to give reasons then why you feel it was mis sold.

So far you have two valid reasons.

1. You were not aware you even had it.
2. You did not need it, you state you had adequate sick cover etc.

We get people stating they did not know they had it and in the same breath state, it was inferred that they had to have it to get the loan, or they did not know they had it and then we find a claim on the PPI.??

You'd think you couldn't have it both ways.

You say you work for a bank, but we have plenty of employees who took out PPI in our bank

dunstonh

We get people stating they did not know they had it and in the same breath state, it was inferred that they had to have it to get the loan, or they did not know they had it and then we find a claim on the PPI.??

I go to periodic compliance meetings where they share common complaint issues (so we can get to protect our backsides from try-it-on complaints or silly documentation errors that can lead to issues if you are not careful). The "did not know i had it" coupled with the "I remember exactly what was said" is a frequent use on template letters and as you say, it does contradict the complaint reasons.