Letter from RBS re PPI

cavework

Hi,
I received a letter from RBS completely out of the blue regarding a loan I took out with Lombard and the possible miss selling of PPI.
I phoned them as I TBH had completely forgotten about this and was told the loan was for 19k taken in 2006 and paid off in full in 2007.
I was self employed and have been from 2000 to present day and the PPI was useless.
So no problem, my complaint was logged over the phone and I received a letter today confirming that it would be dealt with within 8 weeks.. brilliant
But RBS could not give me any further information regarding the loan ..ie does the 19k include front loaded PPI etc?
I rang them again today to ask for a contact number for Lombard as obviously I would like full details about the loan (they supplied an account number with the letter) and they gave me a contact number for Lombard..
The number I rang states in a recorded message that Lombard no longer offer a loan service and when I chose the option to talk to customer services I got a recorded message saying they are not available to take calls and to leave a message and they would get back to me?
I am really pleased that RBS have contacted me but without the information I need re the original loan and PPI , I have no way of knowing that if an offer is made , it will be a fair offer.
Hope you understand where I am coming from ..does anyone have any idea where I can obtain the full details of the original loan please?

[Deleted User]

cavework wrote: »

..does anyone have any idea where I can obtain the full details of the original loan please?

You'd have to send a SAR letter to the original provider (cost=£10).

However, you have no need of the "full details". You've already made a "complaint" over the 'phone and you will hear the result in around eight weeks. No point now trying to research the loan AFTER you have already complained about it!

cavework

So will the offer include the details of the original loan?
As for the Black 'after' and the exclamation mark.. this is a genuine question not a request for judgement..
thanks for taking the time to reply

[Deleted User]

cavework wrote: »

So will the offer include the details of the original loan?

If you are successful you will receive a refund of all PPI paid plus attendant interest. plus 8% simple interest. This is not somehow negotiable. If you are unsuccessful, you will receive nothing.

cavework wrote: »

this is a genuine question not a request for judgement..

No "judgement" was made or implied. If you have already made a complaint, then it's a waste of time (and money) to subsequently attempt any research about it.
You've made your complaint, there is no opportunity to change it later.

cavework

But I am responding to a letter sent to me !
I have only been given a small amount of information and told that is all they hold.
My complaint is a valid one as on the back of the letter it states unfair selling .. ie self employed , which I was and still am..there is no need to change my complaint I just need further details about this loan


Surely I have the right to now follow up and obtain the full details of a loan now under investigation?
Was the PPI front loaded?
I have contacted other providers in the past re loans and supplied them with account numbers to check for other PPI,s and they have been more than happy to give me the information over the phone once I have cleared security checks.

[Deleted User]

cavework wrote: »

But I am responding to a letter sent to me !

So what?
It's simply an invitation to complain if you have reasons to do so. There is no admission of liability

cavework wrote: »

I have only been given a small amount of information and told that is all they hold.

You have complained and asked them to investigate on that basis.

cavework wrote: »

My complaint is a valid one as on the back of the letter it states unfair selling .. ie self employed

Unfortunately for you, this is just an example complaint which may not actually apply to you. Most PPI did cover the self-employed, yours may or may not have.

cavework wrote: »

there is no need to change my complaint I just need further details about this loan

Knowing details of the loan now won't increase your chances of success (or failure). You've already complained, why are you only now researching?

cavework wrote: »

Surely I have the right to now follow up and obtain the full details of a loan now under investigation?

I told you how to do this in post#2. A SAR costs £10, though, why spend money you don't need to?

cavework wrote: »

Was the PPI front loaded?

If it was front-loaded, you won't get any more money-it will just increase the chances of success. You'll know the result regardless in eight weeks (or less)

cavework wrote: »

I have contacted other providers in the past re loans and supplied them with account numbers to check for other PPI,s and they have been more than happy to give me the information over the phone once I have cleared security checks.

The difference here is that Lombard are no longer trading, so there is no one to take your call. If you want the information in this instance, you'll have to pay.

cavework

Front loaded PPI actually increases the refund and FYI the self employed were the largest group to be misold PPI in the past , the only claim that could be made was if your company became insolvent .. check it out..
But thanks for taking the time to reply.. I will post the outcome

[Deleted User]

cavework wrote: »

Front loaded PPI actually increases the refund

You'll only ever receive a refund of PPI you paid plus attendant interest. plus 8% simple interest. You won't receive a larger refund unless you paid a larger amount in the first place.

cavework wrote: »

FYI the self employed were the largest group to be misold PPI in the past

That doesn't mean it appllies in your case.

cavework wrote: »

the only claim that could be made was if your company became insolvent

Not always, A significant minority of PPI offered to self employed had "onerous terms" which have resulted in refunds for mis-sale, though.

In any case, good luck with your complaint!

cavework

Thanks .
.I don.t chase PPI refunds. All the refunds I have received so far are because they were truly mis-sold in the first place.
I will post the outcome

8965263436

RBS have started writing to customers for Lombard/Direct Line/Mint (all loans) and also just giving refunds to the people who were ineligible for the cover.

With you being self-employed, you'll get your money back if it's not the Standard level of cover (with it being 2006, it's more likely they'd have sold you the correct level of cover).

You can pay for a Subject Access Request but that's a waste of time. All you can do is keep an eye on the phone over the next 3-4 weeks and answer the complaint handler's questions - they're 100% going to ask about your employment.

Also yes, your PPI will be "frontloaded" as it will have been a single premium.

cavework

So here is the outcome..
no mis-selling due to being self employed but policy was front loaded, therefore unsuitable .
I did get a fair refund of the policy on the settlement figure, when I paid the loan off early but
RBS have repaid another £1600 due to the above
Thank you to everyone who has replied and I hope this might be of use to others on here