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First post to this forum, although have been lurking in the background for a while
Just wanted a quick bit of advice if possible.
I'm trying to recliam mis-sold PPI on a personal loan I took out with Nationwide in April 2003, over 5 years. I paid the loan off early in May of this year.
I've been using the template letters from moneysavingexpert.com. I sent letter 1 a couple of weeks back, and received what I suspect is the standard response, which loosly translated to 'get lost'
I then sent letter 2 last Thursday (13th Sep) asking for a satisfactory response within 14 days, or I'd go to the financial ombudsman.
I've now received a letter saying their looking into my queries, and their investigations are taking longer than expected. They hope to send me a response by 11th Oct. They've also sent me a leaflet on their internal complaints procedure.
I suspect this is a standard delay tactic, but wonder what to do next?
Do I go ahead and go to the fos once my 14 days deadline is up (27th Sept), or am I now obliged to acknowledge their deadline of 'hopefully' responding by 11th Oct?
Any advice anyone?
Interestingly, I found the link on this site to the thisismoney article on Nationwide halting ppi sales. It's nice to know that they're finally admitting to mis-selling.
Hi Prutter, Just wanted to say hi and i will be watching your progress as i'm just about to start process of reclaiming PPI with Nationwide too. I can't imagine them giving in too easily. Good luck, keep us updated with progress.Kelly
First post to this forum, although have been lurking in the background for a while
Just wanted a quick bit of advice if possible.
I'm trying to recliam mis-sold PPI on a personal loan I took out with Nationwide in April 2003, over 5 years. I paid the loan off early in May of this year.
I've been using the template letters from moneysavingexpert.com. I sent letter 1 a couple of weeks back, and received what I suspect is the standard response, which loosly translated to 'get lost'
I then sent letter 2 last Thursday (13th Sep) asking for a satisfactory response within 14 days, or I'd go to the financial ombudsman.
I've now received a letter saying their looking into my queries, and their investigations are taking longer than expected. They hope to send me a response by 11th Oct. They've also sent me a leaflet on their internal complaints procedure.
I suspect this is a standard delay tactic, but wonder what to do next?
Do I go ahead and go to the fos once my 14 days deadline is up (27th Sept), or am I now obliged to acknowledge their deadline of 'hopefully' responding by 11th Oct?
Any advice anyone?
Interestingly, I found the link on this site to the thisismoney article on Nationwide halting ppi sales. It's nice to know that they're finally admitting to mis-selling.
Hello Prutter,
Welcome to the site.
The banks must adhere to their complaints procedure under the Banking Code, they are allowed a period of time to deal with complaints.
The bank must give you a final response letter and then you take it to the fos. So personally I would give them to the 11th to see what they come up with. You may be surprised. If they make you a good-will gesture, accept it as part settlement with a view of taking further.
I wish you luck and please post up your progess
If any of my posts are helpful, please feel free to click my scales. All information is given as my opinion only, based on my own personal experiences. I have no legal training, but have educated myself in aspects of consumer legislation. My motto "NEVER GIVE IN, NEVER SURRENDER", THERE IS A WAR ON YOU KNOW
Thanks for the encouragement and advice.
I had since found out that the fos wont even look at a complaint until the 8 weeks are up following the initial complaint, so wont be going to them just yet.
Hopefully I'll hear by the 11th. If not, I'll remind them!
And, I have the 40 day mark from my first letter in my calendar. If nothing by then, then I'll go to the FOS.....
Well, I received my final response from Nationwide last week. They maintain that I wasn't missold the policy. Thankfully they've said they don't have the record of my phonecalls - which I believe should work in my favour.
Interestingly they've said "Although we haven't got the original application phone calls, I can assure you that the measures we had in place at that time ensured that all advisors who were required to use the 'advised process' followed these guidelines (the GISC mentioned earlier in the letter). In addition we carry out very comprehensive training, monitoring and coaching to reinforce the requirements".
Well, if this is the case, why have they recently halted all PPI sales by their advisors due to an in-house investigation highlighting misselling!!? (see my earlier link).
The letter also claims I "would have been made aware of the product features. benefits, limitaions and exlusions" which I absolutely was not!
At the end, it says what to do "if you're still not happy. 1. Our member service department can review your concerns. I will be glad to refer it for you. If you decide to go ahead with this option please contact me. 2. If you are still not satisfied you may then approach the fos for an impartial, independant assessment of the situation."
What does this mean? That I have to do 1 before 2?
If he believes I wasn't missold, and this is their final response whats the point of going through their member service dept?
I think I'm going to write back saying thanks, yes please refer it to the member service dept - and, in the meantime I've completed my complaint to the FOS.
Do you think I can do both?
Just seems like yet another delay tactic......
Apologies for the long post. Thanks in advance for any advice
prutter Vs Nationwide ppi - advice please
on a personal loan I took out with Nationwide
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Originally Posted by prutter
