Natwest credit card ppi redress offer help

[Bazza]

Re: Natwest credit card ppi redress offer help

Dear Bazza, I hope somebody will be able to answer. I am sure.
This is a wonderful forum and we constantly learn something from each other.

V

Thanks again V but I just would be interested to know if anyone else has had the same situation. Knowing Natwest I think they will try that approach me thinks

Thank-you

Bazza

[Victoria27]

Re: Natwest credit card ppi redress offer help

Yes, it makes sense,
Let's hope somebody with the knowledge of that will show up.

[Bazza]

Re: Natwest credit card ppi redress offer help

Yes, it makes sense,
Let's hope somebody with the knowledge of that will show up.

Cheers V, I will see if anything is forthcoming but I will keep asking if not.

[Victoria27]

Re: Natwest credit card ppi redress offer help

Yes, please, keep asking.
That is a very wise approach, Bazza.

[Bazza]

Re: Natwest credit card ppi redress offer help

Just an up-date regarding my claim.

RBS have made me a settlement offer but cannot see anything confirming that they will offset against other account where I have a in house payment plan.

This account was paid off and closed.

Also I am having trouble trying to calculate their figures as I know I paid more premiums that what they are advising. How have they calculated their statutory interest and compound interest figures / percentages does anyone know ?

I also submitted all statements from Nov 1988 to closure in March 1999 apart from 12 months worth in which I had missing and they could not provide, so find their comment miss-leading that they only have details from 1997 ? And again the SAR only provided details from Oct 2001 (but I had statements prior to then).

Any advice what to do next would be appreciated before accepting their offer.

[Victoria27]

Re: Natwest credit card ppi redress offer help

Bazza, there are fabulous experts here who can advise about the figures and all the calculations.
I would wait for their advise.

[Turboman]

Re: Natwest credit card ppi redress offer help

Will look this evening or in morning. ....(on the calculations aspects)

[Bazza]

Re: Natwest credit card ppi redress offer help

Will look this evening or in morning. ....(on the calculations aspects)

OK many thanks all and I will hang-fire.

Cheers

Bazza

[Bazza]

Re: Natwest credit card ppi redress offer help

Also there are various APR's used between November 1988 and March 1999 - Which would you use to calculate compound interest ?

Highest was 29.84% and lowest was 20.00 %.

They mention that they have no statements prior to 1997 (even though SAR's only provided from Oct 2001 ?) and therefore was from 21.20% to 20% since then. Prior to that it was at its highest.

Should I ask them what percentage they used to calculate compound interest figure and why no statements before 2001 ? On past experience they always respond that its too complex to submit a breakdown ?

What spreadsheet should I be using to try and calculate my own figure ?

[Turboman]

Re: Natwest credit card ppi redress offer help

See this thread

http://www.legalbeagles.info/forums/...ccessful-Claim

What info have you got ?

Date of Statement?
PPI Paid this mth?
Interest charged this month?
Closing Balance at end of month?

You are entitled under FSA Disp publications to be given the full workings out--even if they are complex?

You can send me what you have privately if you like to

PPI@legalbeagles.info

where only myself and Amethyst can view them

[Bazza]

Re: Natwest credit card ppi redress offer help

See this thread

http://www.legalbeagles.info/forums/...ccessful-Claim

What info have you got ?

Date of Statement?
PPI Paid this mth?
Interest charged this month?
Closing Balance at end of month?

You are entitled under FSA Disp publications to be given the full workings out--even if they are complex?

You can send me what you have privately if you like to

PPI@legalbeagles.info

where only myself and Amethyst can view them

Many Thanks Turboman.

I will have a go at the spreadsheet first.

I have majority of statements (my originals) from opening of account Nov 1988 to closure of account in Aug 2008. The last insurance payment was made in March 1999 and when it was transferred to another account number there were no further payments and balance run-down to nil.

The problem is that I have a period from May 1992 to Dec 1993 in which I cannot locate any statements. Will I still be able to enter some sort of guestimated figures for this period on the mentioned spreadsheet ?

It all seems confusing regarding their comments that they only have records from 1997, when I provided them with all the statements prior to this period and SAR only provided copies from October 2001 ?

As you can see by letters attached on my earlier post, especially the customer offer page; their figures seem confusing and no mention of compound and statutory interest percentages used.

Also as I previously commented, I have various APR's used throughout my statements - which do I use, the average or do I just apply the highest being 29.84% ?

Further to your comments re FSA/FCA Disp - Would anyone know which to quote as on previous experience I just got a fob off letter regarding complexity and I also discussed this with a FOS adjudicator and she also quoted the same as RBS ?????

Sorry to sound confusing but would appreciate any advice before responding or accepting their offer.

[Turboman]

Re: Natwest credit card ppi redress offer help

There is a column on the SS where you enter the APR each month (line)

Also read the "ReadMe" carefully and you will find a way of entering the actual interest from your statements and it will then apportion it in ratio of PPI Charged:Total Charges

I will find you the DISP link later

If you like --create a simple SS with

DATE
OPENING BALANCE
PPI AMOUNT
INTEREST CHARGED
APR %
CLOSING BALANCE

Then I can help you easier

Make no mistake--the other SS are VERY complicated

[Bazza]

Re: Natwest credit card ppi redress offer help

There is a column on the SS where you enter the APR each month (line)

Also read the "ReadMe" carefully and you will find a way of entering the actual interest from your statements and it will then apportion it in ratio of PPI Charged:Total Charges

I will find you the DISP link later

If you like --create a simple SS with

DATE
OPENING BALANCE
PPI AMOUNT
INTEREST CHARGED
APR %
CLOSING BALANCE

Then I can help you easier

Make no mistake--the other SS are VERY complicated

Many Thanks again very much appreciated.

I have started SS already so I will complete and perhaps forward to you (to e-mail address provided) and take it from there.

Then once finalized and checked I will respond to RBS quoting Disp regs concerning further breakdown and clarification. Its worrying because I have already had two other RBS offers in the same manner and when I spoke to FOS adjudicator they quoted that calculations are complexed so they may not be able to provide any further details ?

I have not accepted them and now awaiting a response from RBS, so hence my issue with this one.

I will revert as soon as possible with as much info as I can provide including SS.

[Bazza]

Re: Natwest credit card ppi redress offer help

There is a column on the SS where you enter the APR each month (line)

Also read the "ReadMe" carefully and you will find a way of entering the actual interest from your statements and it will then apportion it in ratio of PPI Charged:Total Charges

I will find you the DISP link later

If you like --create a simple SS with

DATE
OPENING BALANCE
PPI AMOUNT
INTEREST CHARGED
APR %
CLOSING BALANCE

Then I can help you easier

Make no mistake--the other SS are VERY complicated

Hi Turboman,

I have sent an e-mail to address previously provided with completed SS.

Any further assistance would be appreciated and let me know about the FCA DISP link.

Cheers

Bazza

[Turboman]

Re: Natwest credit card ppi redress offer help

Got it---Well done--

Give me a day as going out today ++ it takes me a while to get my head round CC cases (I specialize in Loans Redress)--but if I have queries --I will contact Bill privately

Re DISP

see here

http://www.legalbeagles.info/forums/...338#post350338