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The RBS are taking me to court to re-posses my house and I don’t know which way to turn, It’s a desperate situation for me and I hope you can help.
Up until October 1998 I was a staff nurse at a Accident and Emergency unit….I had been there 5 year however in 1998 my brother and sister in law were selling their small 6 bedded Care Home as they were both retiring……it was just a small bungalow with extension.
So during that year I approached the RBS with my business proposition etc, and wheels were set in motion for me to take over the Care Home and the RBS would be my partners
I therefore was being guided by staff from the RBS………….they appeared helpful and they guided me ………….and in Oct 1998 I took out a business loan with RBS for £135,000.
This loan was to be paid back over 15 yr interest only of £1200/month and an endowment policy of £600/month.
As part of the endowment they sold me I was supposedly covered for Critical illness and disability cover with a 6 month deferment period, and some sort of payment protection plan.
This policy was sold to me by the Royal Bank of Scotland and it was with the Royal Scottish Assurance (their insurance company).
For 8 year from 1998 to 2006 I was fit and well, I had been fortunate enough to have good health, as indeed I had always been fortunate enough to always have been in employment.
All was well until November 2006 my health took a nose dive and went downhill. I was taken ill in the early hours while in bed………Breathless, sweaty, heavy chest pain, pain in jaw, a ambulance was called and all was not well.
I was taken to my old place of work into the resus area……….and within 10 mins I had a cardiac arrest…………………I had to be shocked back to life, strangely enough I knew it was going to happen………don’t know why……….but I remember telling a lad I used to work with as they were giving IV medication to slow my heart down……..”well if it doesn’t work thanks for trying anyway” ………..now I don’t know where I went but it was peaceful, comfy and warm………………..Anyway as it happened I was shocked back to life……….coincidently the Sister who defibed me back to life used to be mentored by me when she was a student nurse in A&E…………coincidental of what?
I had what I thought to be a “heart attack”. I had a cardiac arrest and had to be ,I was in hospital for 3 week and eventually diagnosed with Cardiomyopathy.
Feb 2007 I claimed under my critical illness cover for a “heart attack” however the claim was disputed by RSA, for many different reason, and they used different policy “definitions” etc…….anyway to cut a long story short they weren’t paying.
I took their decision to the Financial Ombudsman. And the Ombudsman sided with the RSA, I was shocked by this………….anyway I thought well …………‘I can claim under my disability cover’ this cover was the “peace of mind” that would pay Interest charges, premiums and part of my income if I ever became to ill to work.
So in April 2007 I claimed for waiver of payments under disability cover as I had been unfit to work now for 6 month +, and had a further Drs Note for another 6 month.
I continued paying my £1200 interest payments and my £600 premiums, in the belief that once the disability claim was sorted these payments I had continued to pay would be refunded.
However it was getting increasingly difficult to keep paying, I wasn’t earning any money and the bank was constantly on my back to maintain interest payments.
I told the bank that the RSA should be paying, I had been paying my policy payments of £600/month, and I also reminded them that it was they the RBS who sold it me in the first place.
They said I had to maintain payments until RSA had sorted it. I again reminded the RBS that it was they who sold it me, and that the RSA was part of the RBS………..and as such they should approach the RSA and sort it………..they made it clear that that was up to me.
The RSA gave no explanation for not paying my interest/premium payments under my disability cover the bank wanted their monthly interest and I was left with no choice to cash in my endowment in order to maintain payments. I therefore wrote to the RBS, they in turn wrote to the RSA.
It was now Oct 2007 I had been unfit for work for 11 month I had paid my interest/policy payments up to date.
My critical illness dispute was still with the ombudsman and there was no payments made by the RSA under my disability claim.
I was forced by the RBS to meet interest payments and the only way to meet their demands was to cash in my endowment policy.
The cash in value of the endowment policy was approx £52,000 and over a period of 9½ years I had paid premiums of approx £65,000 so they made thousands out of me having to surrender……………..
I approached the RBS to cash in the endowment , they in turn contacted their RSA and the RSA sent me this letter.
Oct 22nd 2007
Received from the RSA
Dear Mr……….
I am writing to you in reference to correspondence that we have received from the RBS on 22nd October 2007.
We have received a request from the bank to surrender your policy under Power of sale. As you can understand, the surrender of this policy would have an impact upon your ongoing Critical Illness and disability claims, as well as your complaint case which is currently being dealt with by the Financial Ombudsman Service. I wanted to make sure you were aware of the implications that surrendering your policy would have on these matters.
If you still wish to proceed with the surrender under the Power of Sale, please contact myself or any of our contact centre staff and let us know how you want to proceed. Alternatively you can write and inform us of you wishes.
Should you have queries etc etc.
Looking back I feel as though I have been bullied by the RBS/RSA almost as if one has knocked me down and the though it could kick me until I could take no more. They knew it was just a matter of time for me to be unable to make payments. They have kicked me from pillar to post and for the first time in my life found myself on anti-depressants in order to cope……………..well ive had enough of the bullying.
Is it legal that they can say in effect? “Right Mr...... there will be some impact on your Critical illness dispute that is currently with the Ombudsman and there will also be some impact on your ongoing Disability claim if you surrender you endowment” how on earth am I supposed to keep paying £1800/month I had maintained payments for the last 11 month while ill.
It is now March 2009 I have not been able to pay my Interest payment to the bank (9 month arrears) and they are now commencing court proceeding for re possession. The RSA should have been making payments under my disability cover they have offered no explanation as to why they haven’t,
The Ombudsman found in favour of the RSA with regards to the Critical illness claim and although I still don’t agree with him.
The RSA should have commenced paying my interest payments, premiums and part wages from 6 month after my illness under my disability cover and this is my main concern not the CI, disability cover was designed for my senario (I think)
This disability cover should have protected me when I became ill………….I have been unable to work since Nov 2006 and I am currently retired due ill health at 52 yr old..and having to live on £62/week…………………..I have Cardiomyopathy and my health continues to deteriorate it will never get better it can only get progressively worse.I have a ICD fitted………..
Now I know my case refers back a while, however if the RSA had played the game when I first applied for Disability cover interest payments May 2007 I wouldn’t be in this position now. I have copies of their/my detailed disability cover and all other relevant papers.
Up until October 1998 I was a staff nurse at a Accident and Emergency unit….I had been there 5 year however in 1998 my brother and sister in law were selling their small 6 bedded Care Home as they were both retiring……it was just a small bungalow with extension.
So during that year I approached the RBS with my business proposition etc, and wheels were set in motion for me to take over the Care Home and the RBS would be my partners
I therefore was being guided by staff from the RBS………….they appeared helpful and they guided me ………….and in Oct 1998 I took out a business loan with RBS for £135,000.
This loan was to be paid back over 15 yr interest only of £1200/month and an endowment policy of £600/month.
As part of the endowment they sold me I was supposedly covered for Critical illness and disability cover with a 6 month deferment period, and some sort of payment protection plan.
This policy was sold to me by the Royal Bank of Scotland and it was with the Royal Scottish Assurance (their insurance company).
For 8 year from 1998 to 2006 I was fit and well, I had been fortunate enough to have good health, as indeed I had always been fortunate enough to always have been in employment.
All was well until November 2006 my health took a nose dive and went downhill. I was taken ill in the early hours while in bed………Breathless, sweaty, heavy chest pain, pain in jaw, a ambulance was called and all was not well.
I was taken to my old place of work into the resus area……….and within 10 mins I had a cardiac arrest…………………I had to be shocked back to life, strangely enough I knew it was going to happen………don’t know why……….but I remember telling a lad I used to work with as they were giving IV medication to slow my heart down……..”well if it doesn’t work thanks for trying anyway” ………..now I don’t know where I went but it was peaceful, comfy and warm………………..Anyway as it happened I was shocked back to life……….coincidently the Sister who defibed me back to life used to be mentored by me when she was a student nurse in A&E…………coincidental of what?
I had what I thought to be a “heart attack”. I had a cardiac arrest and had to be ,I was in hospital for 3 week and eventually diagnosed with Cardiomyopathy.
Feb 2007 I claimed under my critical illness cover for a “heart attack” however the claim was disputed by RSA, for many different reason, and they used different policy “definitions” etc…….anyway to cut a long story short they weren’t paying.
I took their decision to the Financial Ombudsman. And the Ombudsman sided with the RSA, I was shocked by this………….anyway I thought well …………‘I can claim under my disability cover’ this cover was the “peace of mind” that would pay Interest charges, premiums and part of my income if I ever became to ill to work.
So in April 2007 I claimed for waiver of payments under disability cover as I had been unfit to work now for 6 month +, and had a further Drs Note for another 6 month.
I continued paying my £1200 interest payments and my £600 premiums, in the belief that once the disability claim was sorted these payments I had continued to pay would be refunded.
However it was getting increasingly difficult to keep paying, I wasn’t earning any money and the bank was constantly on my back to maintain interest payments.
I told the bank that the RSA should be paying, I had been paying my policy payments of £600/month, and I also reminded them that it was they the RBS who sold it me in the first place.
They said I had to maintain payments until RSA had sorted it. I again reminded the RBS that it was they who sold it me, and that the RSA was part of the RBS………..and as such they should approach the RSA and sort it………..they made it clear that that was up to me.
The RSA gave no explanation for not paying my interest/premium payments under my disability cover the bank wanted their monthly interest and I was left with no choice to cash in my endowment in order to maintain payments. I therefore wrote to the RBS, they in turn wrote to the RSA.
It was now Oct 2007 I had been unfit for work for 11 month I had paid my interest/policy payments up to date.
My critical illness dispute was still with the ombudsman and there was no payments made by the RSA under my disability claim.
I was forced by the RBS to meet interest payments and the only way to meet their demands was to cash in my endowment policy.
The cash in value of the endowment policy was approx £52,000 and over a period of 9½ years I had paid premiums of approx £65,000 so they made thousands out of me having to surrender……………..
I approached the RBS to cash in the endowment , they in turn contacted their RSA and the RSA sent me this letter.
Oct 22nd 2007
Received from the RSA
Dear Mr……….
I am writing to you in reference to correspondence that we have received from the RBS on 22nd October 2007.
We have received a request from the bank to surrender your policy under Power of sale. As you can understand, the surrender of this policy would have an impact upon your ongoing Critical Illness and disability claims, as well as your complaint case which is currently being dealt with by the Financial Ombudsman Service. I wanted to make sure you were aware of the implications that surrendering your policy would have on these matters.
If you still wish to proceed with the surrender under the Power of Sale, please contact myself or any of our contact centre staff and let us know how you want to proceed. Alternatively you can write and inform us of you wishes.
Should you have queries etc etc.
Looking back I feel as though I have been bullied by the RBS/RSA almost as if one has knocked me down and the though it could kick me until I could take no more. They knew it was just a matter of time for me to be unable to make payments. They have kicked me from pillar to post and for the first time in my life found myself on anti-depressants in order to cope……………..well ive had enough of the bullying.
Is it legal that they can say in effect? “Right Mr...... there will be some impact on your Critical illness dispute that is currently with the Ombudsman and there will also be some impact on your ongoing Disability claim if you surrender you endowment” how on earth am I supposed to keep paying £1800/month I had maintained payments for the last 11 month while ill.
It is now March 2009 I have not been able to pay my Interest payment to the bank (9 month arrears) and they are now commencing court proceeding for re possession. The RSA should have been making payments under my disability cover they have offered no explanation as to why they haven’t,
The Ombudsman found in favour of the RSA with regards to the Critical illness claim and although I still don’t agree with him.
The RSA should have commenced paying my interest payments, premiums and part wages from 6 month after my illness under my disability cover and this is my main concern not the CI, disability cover was designed for my senario (I think)
This disability cover should have protected me when I became ill………….I have been unable to work since Nov 2006 and I am currently retired due ill health at 52 yr old..and having to live on £62/week…………………..I have Cardiomyopathy and my health continues to deteriorate it will never get better it can only get progressively worse.I have a ICD fitted………..
Now I know my case refers back a while, however if the RSA had played the game when I first applied for Disability cover interest payments May 2007 I wouldn’t be in this position now. I have copies of their/my detailed disability cover and all other relevant papers.
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