PPI Question

DougalDog

Hi,

Am new to this forum, so please bear with me.
I took out a business development loan with Natwest in 1989/90. Included in the loan was Development Loan Protector Cover, I assume this is the same as PPI.
I have a couple of the original documents, including the signed loan agreement, the account number the loan was to be taken from, as well as a letter that stated I was to be charged £13 a month for the protection cover. I am no longer with the Natwest Bank, and have not been for a long time. I put in a claim with the RBS, and eventually they replied to say, that they only keep records for six years, and that I had to supply all my bank statements showing the loan payments for them to investigate further. My question is, if they do not keep records going back 25 years, then why should I be expected to do so. Is there anymore I can do, or is it a lost cause.
Any advise please.

DougalDog

Insider101

DougalDog wrote: »

Hi,

Am new to this forum, so please bear with me.
I took out a business development loan with Natwest in 1989/90. Included in the loan was Development Loan Protector Cover, I assume this is the same as PPI.
I have a couple of the original documents, including the signed loan agreement, the account number the loan was to be taken from, as well as a letter that stated I was to be charged £13 a month for the protection cover. I am no longer with the Natwest Bank, and have not been for a long time. I put in a claim with the RBS, and eventually they replied to say, that they only keep records for six years, and that I had to supply all my bank statements showing the loan payments for them to investigate further. My question is, if they do not keep records going back 25 years, then why should I be expected to do so. Is there anymore I can do, or is it a lost cause.
Any advise please.

DougalDog

You're the one alleging wrongdoing. Therefore, the onus is on you to provide your case.

Law of the land unfortunately.

[Deleted User]

DougalDog wrote: »

. My question is, if they do not keep records going back 25 years, then why should I be expected to do so.

You're not expected to do so. However, if you want to complain then the burden of proof is yours, not the Bank's. You cannot make any allegations stick without evidence.

Insider101 wrote: »

Law of the land unfortunately.

Actually, it's the law which protects the individual from simply being accused without any evidence. Without it, there would numerous miscarriages of justice.

So, hardly "unfortunate".

Insider101

Moneyineptitude wrote: »

You're not expected to do so. However, if you want to complain then the burden of proof is yours, not the Bank's. You cannot make any allegations stick without evidence.




Actually, it's the law which protects the individual from simply being accused without any evidence. Without it, there would numerous miscarriages of justice.

So, hardly "unfortunate".

Yeah I know that, I meant from the OP's perspective.

dunstonh

. Included in the loan was Development Loan Protector Cover, I assume this is the same as PPI.

It is a type of PPI. Main difference is that it is geared to benefit the self employed or majority shareholder directors.

I have a couple of the original documents, including the signed loan agreement, the account number the loan was to be taken from, as well as a letter that stated I was to be charged £13 a month for the protection cover.

At least that eliminates single premium as a reason complaint.

My question is, if they do not keep records going back 25 years, then why should I be expected to do so.

You dont have to in the same way they dont have to. Except the choice is yours whereas the law requires them to destroy records no longer required.

DougalDog

Many thanks for the replies, very helpful.

Cheers,

DougalDog