natwest says my 2nd loan made my first (PPI) loan null and void?

[Jane 6498]

I took out a NatWest loan in 2003. I was financially desperate, to say the least. I was told that unless I take out PPI it is unlikely my loan will be approved and I agreed. The PPI lumpsum was added to my loan.

In 2005, I got nagged by NatWest telephonically almost on a daily basis to pay off my overdraft by taking out a new loan. I had a 2k overdraft which I almost maxed out monthly.

So in 2005, they gave me a consolidation loan. They asked me if I wanted PPI insurance and I said do I have to? And she said, no. So I opted out of PPI on the second loan.

The two loans were merged and I now pay a single monthly instalment to NatWest.

The first loan had PPI of about 1500k.

I called NatWest last week to ask them for the details of my first loan.

They refused to give me any information saying the first loan is now null and void as it was paid off by the 2nd loan. I asked for a copy of the loan agreement and they said they dont' have it and that it is my own responsibility to keep it.

What am I do do next?

please help.

	Are you letting your bank keep your money Are you giving away thousands of pounds?? Many people aren't claiming all of the money they are entitled to when they make their bank charges claims. You have been forced to pay unfair bank charges. Have you forgotten that your bank has charged you inteest on those charges? If you are overdrawn and the bank owes you charges - then your overdraft is made up of charges - money which you bank owes you. Yet you are paying interest to the bank - on your own money!!! Follow this link to see the discussions on this. You might even double th size of your claim.

[fightthemback]

Hi Jane,

You need to hit them with a SARN request which will give both the initial details of the loan as well as a full statements of accounts.

If they do not return your details within a certain time frame it is then considered a criminal offence and you can pursue them thru the FOS and the courts if necessary.

It is fully their responsibility to retain your records especially as they would have been instrumental in setting up the 'new' loan.

Dont be fobbed off, request a full SARN and make it clear you will pursue them for the repayment of any monies wrongfully charged.

There are hundreds on here like you who have fought and won.

	The Financial Ombudsman Service For the most part, don't bother. The Ombudsman is an industry arranged service which is under-resourced, takes too long, lacks clear transparency. You have no idea what evidence the FOS has received from the bank or how your complain has really been handled. The FOS is the preferred complaints route for the banking industry. The county court is to be preferred by consumers for its speed, openness, the quality of its awards and also because it will award 8% interest on top of any damages won by you. The Ombudsman should normally be used to solving little technical difficulties or customer service problems which you have expereinced with your bank.

[Jane 6498]

Wow, great.

I will send that off imminently. They almost had me believe that there's nothing I can do. Which is, I guess, why they do it.

Thanks for CAG !!!

[hellhasnofury]

Originally Posted by Jane 6498

Wow, great.

I will send that off imminently. They almost had me believe that there's nothing I can do. Which is, I guess, why they do it.

Thanks for CAG !!!

Hello Jane,

See your up against the Nastywest,

I have been having a bit of a ding, dong with them for a while now and yes they are not very good at supplying information, because they are aware what you are going to do with it

Get your Full Subject Access Request sent off, you will find it in the ppi stickies, send you £10 fee and start counting the days,

Come back when you have the information.

This is a great site for help and advice

	Subject Access Request A Subject Access Request is a demand which you can make to any organisation to disclose any personal information which they hold on you. The right to disclosure of data is provided by the Data Protection Act. There is no time limit. The organisation is obliged to reveal everything they have about you - which you ask for - as far back as you ask for. There are very few exceptions. It does not matter whether the data is held on microfiche, in an archive, on tape, in a cardex system, in sound recordings or in screen notes. Some companies are saying that they do not have to disclose where it would be difficult to do so - "disproportionate effort". This is untrue. Disproportionate effort refers to something else under the Act. If you are seeking bank charges information then you should ask for "all data held on you" and you should make it clear that you want everything as far back as it goes. Do not be put off by excuses. Do not accept being fobbed off. It is not in your bank's interest to make full disclosure to you. This means that it is in your interests to get it. If you have not started gathering your bank charges information yet, then you should start now. There will soon be a big rush once the OFT test case has been settled. Get all of your bank account informtion as far back as possible. At least as far back as 1995. If your bank says that they don't keep data as far back as this, don't accept it. Be persistent. They've got what you need in some form or other.