PPI Advice Please

dunstonh

Here is an ombudsman decision which shows that where a case is non-advised, suitability does not need to be checked:
http://ombudsman-decisions.org.uk/viewPDF.aspx?FileID=11363

Just posting it so you know that using real cases and it may benefit others that read this thread thinking the same thing as you.

tanyadrhodes

Afternoon,

I took out a loan in 2005 with RBS, and was told I would not get the loan without the Loanguard insurance - this was over the phone and not contradicted when I went to the branch to sign the papers. I distinctly remember being told it was compulsory - and probably wouldn't have taken the insurance otherwise as I was 25 and a bit daft about these things.

I decided to chance my luck with a claim - after a few rounds of lost paperwork on their part, it is now under investigation. I was told on the phone that they had sent me one of the "you may have been missold" letters, and that my claim is quite straightforward.

I was discharged from a trust deed in June that involved the last nine months that this loan had to run.

Surely it's my word against theirs about the reason for mis-selling, and I have no chance?

dunstonh

Surely it's my word against theirs about the reason for mis-selling, and I have no chance?

Where there is no evidence to suggest what you say actually happened then that point is nearly always rejected. However, they still have to investigate the sale and there may be other failings. Also, they may auto payout.

I was discharged from a trust deed in June that involved the last nine months that this loan had to run.

Normally that means you wont get the money on a successful complaint unless you repaid all debts and no write off was involved.

tanyadrhodes

Thank you, I had low expectations, but thought I would give it a go!

There was a write off as the trust deed administrator's costs absorbed most of the repayments, but it was accepted and discharged all the same, possibly because there weren't vast sums involved.

Will just see what happens, only two weeks into the process.

tanyadrhodes

Just a quick update, I've had lots of dealings with RBS in the last fortnight, because of inaccuracies in my credit file for the debt that was in the trust deed.

Firstly, they hadn't zeroed out the balance when the trust deed was discharged. A wee sit down with my local branch, on the phone to recoveries, with my discharge certificate sorted that.

They have not taken their dividend away from the balance owed to them. Apparently they contract out their dealings with trust deed / IVA administrators, and it can take up to four months for the contractor to tell them what dividend RBS has been paid.

When I entered the trust deed, it looks like they didn't cancel the PPI, and are still showing this as money owed.

All of this complicates their investigation into my case and any offer they might make.

I did get a letter stating that any offers will be diverted to the written off debt in the first instance.

Anyway, I wrote to them on Tuesday with my concerns about the accuracy of the information they hold in relation to my trust deed, and they have that letter now.

They are going to make a final decision by next Thursday, so I should know in the next two weeks.

I'm feeling a bit optimistic, but we'll see. By my calculations, there should be nearly £1k left even when my debt to them is settled.

I have to say, I've found their customer concerns team consistently helpful and courteous.