PPI Advice Please

Miss_Ali_Bali

Struggling what to do next so any advice much appreciated.

Recently found some RBS bank statements and the overdraft agreement (no mention of PPI) which ran fron 1999 to 2006 the statements clearly demonstrate overdraft loanguard which I believe is a PPI! Followed the advice given here and received a quick reply saying RBS can't find any evidence, sent 22 pages of evidence and have now received a gesture of goodwill letter offering £2,600 this appears a tidy sum at face value but does not reflect the premiums taken from my account over a period of 87 months! The minimum premium was £3.00 plus additional fees based on the borrowing, my overdraft was maxed for the majority of that period! Bottom line I can only prove with statements that I have that the average premium deducted was just under £10 a month although I know from the higher end statement figures that I have, that the monthly premiums were around £16! Just wondered if I should fight on for a fairer outcome or accept their goodwill offer! Unfortunately I do not have all the bank statements and I don't know if RBS retain statement history for the period I am referring to!


Seems incredible that in a period of less than a month they find no evidence then offer £2,600!


Thanks in advance and sorry if long winded just stuck as to my next move.

-taff

well, if they were taken from yuor account over 87 months, then you would have thought you might have noticed this.......
Ask them if they will consider refunding you all of your premiums. They don't have to though.

You've made a complaint now so your choices are to accept their offer or go tot ehFOS which may or may not rule in your favour. It's your choice.

It doesn't appear that you have much of a case really, it just looks like you agreed to it and then forgot about it, and never actually checked your statements......I would certainly start by asking them to refund all the premiums though.

McKneff

They can withdraw their good will gesture at any time. So think on....

-taff

One more thing,. if you don't have proof of more payments, you will either have to try and get some with a SAR and £10 [see the front page sticky for a template] or you will have to accept that they don't have them.

A goodwill offer is just that, an offer, it isn't negotiable by force because they haven't upheld your complaint.

Miss_Ali_Bali

Thanks, in fairness I left RBS in 06 due to horrendous incompetence on their part as a business! 5 years of fighting resulted in defaults they wrongly applied removed and compensation awarded. I then had a ceremonial burning of all things bad bankers out with the ancient statements I recently found. I referred to 87 months premiums taken as this is what RBS have offered as a gesture of goodwill! This period of time I referred to in my letter of complaint I never needed or would have signed for PPI hence was perturbed to find them on old bank statements - and my claim for miss sold PPI! Seems RBS are still paying lip service to customers and fobbing them off with gestures of goodwill just wondered if it was worth taking forward! For the record I only cleared my credit rating by having proof of RBS incompetence and my own tenacity! As this site informs the mid selling of PPI caught millions of consumers out I just want repaid in full that's all :-)

DevCoder

What was your reason for being mis-sold?

Miss_Ali_Bali

I understand that PPI must be fully explained and it's suitability for the consumer confirmed!
Not informed that taking was optionalNot asked whether I had sufficient cover in place
Not informed that the ppi had been added
Never signed for this or had any statements relating to this,


I was shocked to discover that I had in fact been missold! Just goes to show how widespread this practice was :-

dunstonh

I understand that PPI must be fully explained and it's suitability for the consumer confirmed!

Only on advised cases. Not on non-advised cases.

Not informed that taking was optionalNot asked whether I had sufficient cover in place

Financial need is on advice cases. Not on non-advised. Hard to argue that you were told it was not option. Documentation rarely supports that view.

Not informed that the ppi had been added

Did you not see it on the paperwork or monthly statements?

Never signed for this or had any statements relating to this,

It cannot be hidden. It will show on paperwork. So, how sure are you of this.

You can refer your complaint to the FOS. However, it appears they are paying what they can prove you pay. Unless you prove otherwise (by using your statements) then its going to be hard to get any more. The requirements are to pay what can be proven was paid.

amersall

have now received a gesture of goodwill letter offering £2,600 this appears a tidy sum at face value but does not reflect the premiums taken from my account over a period of 87 months!

If they gave you the £16 a month for the 87 months, that is only £1,393 that you paid in premiums, the offer they have made is £1,207 over what you have paid, count this as interest, as your PPI varied from £3.00 to £10 and maybe £16, if I were you, I would take the money and run.

-taff

Miss_Ali_Bali wrote: »

I understand that PPI must be fully explained and it's suitability for the consumer confirmed!

You can't prove it wasn't

Miss_Ali_Bali wrote: »

Not informed that taking was optional

Again, you can't prove it

Miss_Ali_Bali wrote: »

Not asked whether I had sufficient cover in place

Obviously you didn't otherwise you would have paid off your overdraft

Miss_Ali_Bali wrote: »

Not informed that the ppi had been added

You said you found statements, so that means you didn't read them properly the first time round

Miss_Ali_Bali wrote: »

Never signed for this or had any statements relating to this,

See above....

Miss_Ali_Bali

Thanks for the responsesUnfortunately sometimes circs in life mean we are up to our eyes in overdraft, only safe in the knowledge that if paid off or sickness episodes were to happen we have ways to settle our responsibilities!


I may have been negligent in not noticing the loanguard on my overdraft I may have had legitimate reasons for this! What I am sure of is this is the only time I have been caught out on PPI and thank this site for pointing me in the right direction.


For clarity I have been offered a refund based on a monthly premium of £5.97 which seems way below what I was paying, guess consensus is I take this offer and run!


Many thanks