RBS Bank loan reclaiming. Help Please ;-)

[di30]

Re: RBS Bank loan reclaiming. Help Please ;-)

just a quick update....

received a letter from RBS, it basically says we are sorry your unhappy with the PPI (yeah right..bet you are)

We take this matter very seriously (well pay me from the £1m bonus your CEO got shafted on then...)

We will colect information at the time the policy was started including documentation and speak to the member of staff that sold the policy (The member of staff was 12 and had to count up using his fingers...The idiot probably cant remember what he had to eat yesterday)

Then goes on to say about financial hardship blah,blah, blah and to contact the providors if this is the case (asked for help before and was told to get stuffed, now going UE route on the credit cards, that'll show em)

M

LOL, Hi M, thank you for your update, but yes I second what you say.

Hope all goes your way now, good luck and look forward to hearing the outcome of this.

[mjr001]

Re: RBS Bank loan reclaiming. Help Please ;-)

Just a quick update on this PPI reclaim, with some questions thrown in for good measure.

I recieved the letters above today saying they will refund my PPI on this and another loan account (the other account is only £150, as it was a small loan) but have some questions about the wording of the paperwork.

I am currently experiencing financial difficulties, as I have been out of work since November, but also I have 2 credit cards with RBS, an RBS one and a mint one. I have missed 2 payments on each, with the last time they were both paid was in Jan.

I have been having the usual letters from them about being in arrears etc and was just enquiring, can they use any of the refund of the PPI to pay the arrears on my credit cards ?

I am not in arrears on my current account as yet, but am getting no end of grief about the cards. I am sending them uneforcability letters soon, but want to get this paid back to me first.

If they can use any of the PPI reclaim, can they only take the arrears, which is about £500 or can they take it all to pay some of the balance of the cards, about £13k

Anyone that can give some light to this I would be grateful.

best regards

M

[di30]

Re: RBS Bank loan reclaiming. Help Please ;-)

Just a quick update on this PPI reclaim, with some questions thrown in for good measure.

I recieved the letters above today saying they will refund my PPI on this and another loan account (the other account is only £150, as it was a small loan) but have some questions about the wording of the paperwork.

I am currently experiencing financial difficulties, as I have been out of work since November, but also I have 2 credit cards with RBS, an RBS one and a mint one. I have missed 2 payments on each, with the last time they were both paid was in Jan.

I have been having the usual letters from them about being in arrears etc and was just enquiring, can they use any of the refund of the PPI to pay the arrears on my credit cards ?

I am not in arrears on my current account as yet, but am getting no end of grief about the cards. I am sending them uneforcability letters soon, but want to get this paid back to me first.

If they can use any of the PPI reclaim, can they only take the arrears, which is about £500 or can they take it all to pay some of the balance of the cards, about £13k

Anyone that can give some light to this I would be grateful.

best regards

M

Hi

Well done on your success.

Going by the letter, it does state the arrears on the account, this is generally standard and can vary from one bank to the other, and sometimes they do also refund towards the owed balance, so it can be a confusing matter. In my opinion they mean this account only though, because if you do also have other cards with the same business, realistically they should be treated separately.

I would contact them to ask once the arrears are cleared, if they will be sending you the remaining of what's left once the arrears are cleared on this actual account, and if so how they plan on doing this, cheque, bank account etc.
Just tell them you want some clarity on this.

Good luck.

[mjr001]

Re: RBS Bank loan reclaiming. Help Please ;-)

If they say arrears on the account then there are none, both the loan accounts are finished and cleared, the only arrears on the account are for credit card accounts with RBS. My current account is also not in arrears.

I am totally confused as to what to say or write to them

M

[di30]

Re: RBS Bank loan reclaiming. Help Please ;-)

If they say arrears on the account then there are none, both the loan accounts are finished and cleared, the only arrears on the account are for credit card accounts with RBS. My current account is also not in arrears.

I am totally confused as to what to say or write to them

M

Hi I think that is standard what they say if there are any arrears outstanding, so basically in my opinion on a clear account that should be refunded back to you, but if you want them to clarify on this, email or ring just to ask by asking stating that as this account has no arrears you would just like confirmation that you will be receiving the refund and not that of other accounts.

[mjr001]

Re: RBS Bank loan reclaiming. Help Please ;-)

i will ring them tommorrow, just to check. it also says subject to arrears or indebtedness to the group halfway down one page though so bit of a grey area.

There must be someone who has claimed PPI back and has been in arrears on either their current account or credit card and know how RBS might play it ?

Thanks

M

[mjr001]

Re: RBS Bank loan reclaiming. Help Please ;-)

Another thing I have just picked up on is that on page 1 it says that "It has come to light this loan forms part of a consolidated loan chain. As a result an investigation into all loans within this chain has been carried out"

Does anyone know what that means ?

Does it mean the 2 loan accounts which i have claimed the PPI back on, which are the 2 letters I received today, or does it mean credit cards as well ?

M

[di30]

Re: RBS Bank loan reclaiming. Help Please ;-)

i will ring them tommorrow, just to check. it also says subject to arrears or indebtedness to the group halfway down one page though so bit of a grey area.

There must be someone who has claimed PPI back and has been in arrears on either their current account or credit card and know how RBS might play it ?

Thanks

M

Yes that is correct, my hubby is one of them, both with Lloyds though, the one card was still active, they refunded the arrears towards that one, he ended up receiving the interest, and on the other card there was nothing owing and he received the whole lot back to him.

[di30]

Re: RBS Bank loan reclaiming. Help Please ;-)

Another thing I have just picked up on is that on page 1 it says that "It has come to light this loan forms part of a consolidated loan chain. As a result an investigation into all loans within this chain has been carried out"

Does anyone know what that means ?

Does it mean the 2 loan accounts which i have claimed the PPI back on, which are the 2 letters I received today, or does it mean credit cards as well ?

M

What normally happens in this case, once a complaint have been made for reclaiming, all other accounts in relation to the other account, such as a consolidation loan to take one to pay the other must be looked into too, yet it's always best to still raise them up with the bank just in case they do not bother, but they are supposed to.

[mjr001]

Re: RBS Bank loan reclaiming. Help Please ;-)

no, what happened was i originally took out a £1750 loan about 6 years ago, then after 6 months of paying it took out the £9500 loan, which paid the original loan remainder off and the rest went into my bank..

This big loan finished in Jan and cleared completely. I then reclaimed the PPI on both of the loans, do you think thats why they say consolidated loan chain or do they class borrowing on their credit cards as consolodated loan chain ?

confused.com

[mjr001]

Re: RBS Bank loan reclaiming. Help Please ;-)

What i am asking is the PPI is from a RBS bank personal loan, but I am in arrears with an RBS credit card, just seeing if they can use the loan PPI to pay the card arrears

[di30]

Re: RBS Bank loan reclaiming. Help Please ;-)

no, what happened was i originally took out a £1750 loan about 6 years ago, then after 6 months of paying it took out the £9500 loan, which paid the original loan remainder off and the rest went into my bank..

This big loan finished in Jan and cleared completely. I then reclaimed the PPI on both of the loans, do you think thats why they say consolidated loan chain or do they class borrowing on their credit cards as consolodated loan chain ?

confused.com

To what I know of it is that of consolidated loan chain.

[di30]

Re: RBS Bank loan reclaiming. Help Please ;-)

What i am asking is the PPI is from a RBS bank personal loan, but I am in arrears with an RBS credit card, just seeing if they can use the loan PPI to pay the card arrears

They should not use money from a separate account, such as a credit card account to pay towards another account (loan).
Only if that account your complaining of has arrears.

But as said, banks differ from one to the other, all mine have mainly been Lloyds and they dealt with each one of them separately, and did not mix with credit cards accounts if you know what I'm saying.

[MattyA]

Re: RBS Bank loan reclaiming. Help Please ;-)

Hi I agree with Di.

I had a similar situation but with another bank - they kept the claims seperate ( 1 loan PPI & 1 Credit card PPI)

With the RBS I had a Natwest Business OD,Natwest credit card and a mint credit card.
Again they treated them all seperatley.

Wierd think is some banks have paid me back all of the money even though the accounts were in arrears and defaulted - luck of the draw I guess.

Matty

[mjr001]

Re: RBS Bank loan reclaiming. Help Please ;-)

So you think that I may get the Ppi back on the cleared loan then ?
Like I said the loan, which is the Ppi I am claiming for is cleared. But I have arrears on my credit card with them

M