PPI Claim returned to RBS/Natwest

Precious074

Hi,

Could someone please help me I have recently had a few cheques from Natwest for a PPI claim totalling £14000 in bank loan charges etc. On going to my bank I found that these had been returned unpaid, I contacted the RBS PPI team who said I shouldn't have received them as this was being used to pay offset on the account which to my knowledge should have been closed July 2012 after my IVA against Natwest had completed. They informed me that it was still open and no paperwork had been received both by the PPI team or the Insolvency Team. I have since spent the last 2 weeks pulling my hair out trying to get to the bottom of this issue and they keep passing me to one another with no more information and that they have no paperwork from Credit Fix (insolvency Agents) who sent paperwork off to the Insolvency Exchange to pass onto RBS in relation to this last year. I have since explained my situation and the fact that I have faxed the Form 5 and letter of Discharge to them twice and another one today, it was also posted to them via the PPI company I was going through (Fast Claim) who have also taken their share of the money thinking this was a completed case only to find they will not reissue my money back which has left me in debt with my bank and unable to pay for childcare and other bills etc for the rest of the month. I have contacted CAB who told me to write a complaint letter to Fast Claim attaching a copy of statement from my bank to show this return of cheques. I also contacted Financial Ombudsman who have started a claim against RBS/Natwest for their neglect to follow protocol. Is there anything else I could do in the meantime to get my money back from both companies or do I need to wait and wait for Natwest to turn around and say they are still using it to offset which they are in the wrong for and also for Fast Claim PPI to say they cannot reissue my payment as they have done their job which clearly they haven't as yet! I'm going mad and starting to get slightly depressed

societys_child

Sounds like they may be able to offset against any debt that was written off. (Why should they pay money that wasn't paid in the first place?)

Seems the claims company have done their job and taken their fee.
(Even if any or all the redress is offset against the debt they still want paying)

You'll have to see what comes of the FOS complaint to RBS/Natwest.

[Deleted User]

Precious074 wrote: »

On going to my bank I found that these had been returned unpaid, I contacted the RBS PPI team who said I shouldn't have received the cheques as this was being used to pay offset on the account which to my knowledge should have been closed July 2012 after my IVA against Natwest had completed.

Unfortunately completing an IVA involved lenders writing off some of the money you owed and now the Bank wants to offset the redress they awarded against the amounts written off.
They are allowed to do this:
http://www.moneysavingexpert.com/banking/setting-off

However, it's certain the Bank should not have sent the cheques to you and then returned them unpaid when you attempted to cash them. I would think a complaint about breach of protocol will be upheld, but I doubt very much it will result in the release of £14,000 direct to you.
As far as Fast Claims are concerned, the Bank have upheld their complaint made on your behalf so it's hard to see them agreeing to refund their commission fee. Having said that, they should really have told you that the Bank were likely to offset monies written off as part of your IVA and it would then have been your choice whether to proceed.
Did you actually inform Fast Claims at the outset that you had had an IVA?

Precious074

I did tell the PPI company that I had been in an IVA and that it had completed last July. They didn't inform me that money could be offset monies written off

[Deleted User]

Precious074 wrote: »

I did tell the PPI company that I had been in an IVA and that it had completed last July. They didn't inform me that money could be offset monies written off

They should have done, but that won't mean they won't still want commission;
http://blog.moneysavingexpert.com/2012/04/27/is-it-worth-using-a-ppi-claims-company-10-things-you-need-to-know/


You'll probably find there was a warning about off-setting in the paperwork they sent you as part of your contract...