RBS ppi claim-offer made then money sent to their own holding account???

[wakeywakey]

RBS made me an offer of £2k for ppi from 2003

They said they would pay me by cheque.

However, the other day I had a message saying "we have deposited the money into your current account.

 

On checking this I found that they hadn't deposited into my account, but to their own holding account pending further investigations.

 

I phoned the ppi office to be told that the loan on which I claimed the ppi had arrears and so they were investigating.

 

However, I then phoned RBS credit management and they confirmed I had no outstanding debts, but then claimed they still need to investigate.

 

If they suspected this, why did they agree that ppi was refundable and why can't they find any evidence.

Really frustrating!

I have to wait another 28 days now while they investigate.

 

Anyone dealt with this before?

[dx100uk]

£2k from 2003

that seems rather low for that period.

 

 

I take it you have all the statements and have checked they are correct?

[Baz1994]

And did you receive a full breakdown of the offer?

 

They do have a habit of miscalculating as per my previous experiences.

[wakeywakey]

I'm more worried about actually getting anything at the moment, so any advice as to my main problem would be appreciated.

[dx100uk]

So phone them back and findout what's happening

[wakeywakey]

Er, thanks for that amazing advice dx.

Anyone got anything a tad more insightful?

[maroondevo52]

wakeywakey, I found RBS not too bad to deal with regarding my PPI, you'll just have to wait until they finish their investigation then ask them how they came to their conclusion.

[ThedaBara]

I wonder if they make an offer for PPI in order to re start statute barred loans, by using the PPI as a payment... are you sure you don't owe anything to them? TB

[dx100uk]

cant reset SB

[wakeywakey]

So phone them back and findout what's happening

 

OK, I did.

They said they have no idea why the PPI team have sent it to them but they will investigate anyway!

They confirmed I have no outstanding debts with them though.

[wakeywakey]

OK, they have now written to me and stated they have paid all the money into an old loan account with direct line that still as arrears on it.

"Setting off" they called it

 

 

How does "setting off" work anyway.

 

Can RBS set off if I had arrears with them?

Can they set off if I have arrears with a DMA?

Can they set off if I had arrears with a company they now own?

 

How would I get refunded if they have "set off"?

[dx100uk]

if they own a debt of yours [not sold to a dca]

sadly they can off set

[wakeywakey]

Looks like it was sold to AIC 2006

[dx100uk]

You need to remindthem the debt is sold then

They can't off set

Though sometimes they buy them back to do so

[wakeywakey]

You mean because they know there's a PPI refund due, they buy back the debt to pay the PPI refund to it?

 

Can you link me to where this has been done?

Can't seem to find any info on it.

[dx100uk]

https://cse.google.co.uk/cse?cx=partner-pub-0964707606882478:652l7hswbgv&ie=UTF-8&q=PPI+buy+back&sa=Search+CAG#gsc.tab=0&gsc.q=PPI%20buy%20back&gsc.page=1

[wakeywakey]

Sorry, I couldn't see anything there from RBS

Is there any proof RBS are doing this currently?

And even if they are, surely there is still a way to fight it, as I believe the F0S has said it's illegal?

[dx100uk]

no it cant be illegal, its not a criminal matter.

its a civil matter, so it would be deemed as unlawful

but again no, theres nothing by the FOS stating an original creditor cannot do this.

 

however there are disp rules by the FCA that do.

 

though the interpretation is taken differently in differing circumstances

 

http://www.ombudsman-decisions.org.uk/viewPDF.aspx?FileID=5623

[wakeywakey]

Is there any evidence that RBS have done this to anyone?

I can't find any but you seem to know.

 

If there isn't, what is my next move, Ombudsman or courts?

[dx100uk]

See what they say when you send that letter

All creditors have done it

But is it appropriate here?

[wakeywakey]

OK, letter sent.

Although their letter to me was their final decision letter after I complained about their tactics.

[dx100uk]

prob says you can treat this as a final response

well you aren't..

but anyway..

that's on the refund

NOT what they do with it

[wakeywakey]

No, it was a complaint about what they did with it. Once they sent it to their own holding account I sent them a complaint letter, anyway, another letter won't hurt them will it?

[wakeywakey]

See what they say when you send that letter

All creditors have done it

But is it appropriate here?

 

What deems it appropriate?

[dx100uk]

read that fos link post 19