Me vs Nationwide

[spike79]

Hi folks, I've been surfing these boards for quite a while now and this is the first post I've put on...

 

A little background, I've fallen foul of the bank charges and default notices and late payment charges with a few companies in the past and like most folk I used to assume I had no leg to stand on when it came to all this and if I couldn't afford to pay, tough it was my fault, so these boards have been a godsend, as I now feel like I'm one of the unfortunate masses who have been preyed on by the big fish due to virtue that I wasn't born rich, so I've been fighting back with a lot of companies and my resolve is now to borrow not another penny from anyone unless it is on my terms.

 

The story so far with Nationwide, I did start all the proceedings to reclaim my charges, which amount to about £3000 with interest now, in 2007, just as it got to the stage of the court claim the stay was put on till the test case, at this point I stopped and decided I would await the outcome of the test case now all this seems to be dragging on and I'm fed up with it and whilst I'm not starving, I am not by any means well off and don't think it is fair that I am living paycheque to paycheque whilst they hold on to £3k of my money. So I wrote a letter to nationwide reminding them of the fact that this remains unresolved and that if I don't recieve a satisfactory response from them about this I will be taken my case to court and claiming for hardship...

 

I understand this is unlikely to be successful but figure it is worth a try and was wondering if anyone here with more experience than me in these procedures can offer any advice as to how I should proceed further...

 

Thanks in advance...

[yourbank]

There is no such provision for taking a case to the County Court based on financial hardship so the threat is a moot point really. Have you incurred any charges since 2007?

[spike79]

Thanks for replying I figured I wouldn't be viewed as a hardship case as I'm still in work and can just about meet most outgoings I have although there are some arrears on personal loans and council tax. As far as I can tell from the FSA literature the stay on court cases only applies unless you can prove hardship, I know from some of the other threads that Nationwide will make you jump through hoops to prove you are a hardship case but ultimately this decision as far as I can tell would lie with the FSA and the courts, I mean if it was up to the banks to decide who was in hardship or not then what's the point in the exception 'cause I'm sure they would deem us all able to meet their demands for charges. Last charge on my account was in 08 since then I have another account I use in a responsible manner with a different bank, having learned my mistake. I have included all the charges on the spreadsheet with the interest calculator to send to them.

 

If you read the propaganda on their website they seem to believe they are in the clear on this and are not liable for anything despite the fact that I remember recently reading about a rep for them almost in tears to the house of lords saying if the test case went against the banks they would meltdown....good! They can see what it's like to live on my side of things for a change.

[yourbank]

Thanks for replying I figured I wouldn't be viewed as a hardship case as I'm still in work and can just about meet most outgoings I have although there are some arrears on personal loans and council tax. As far as I can tell from the FSA literature the stay on court cases only applies unless you can prove hardship, I know from some of the other threads that Nationwide will make you jump through hoops to prove you are a hardship case but ultimately this decision as far as I can tell would lie with the FSA and the courts, I mean if it was up to the banks to decide who was in hardship or not then what's the point in the exception 'cause I'm sure they would deem us all able to meet their demands for charges. Last charge on my account was in 08 since then I have another account I use in a responsible manner with a different bank, having learned my mistake. I have included all the charges on the spreadsheet with the interest calculator to send to them.

 

If you read the propaganda on their website they seem to believe they are in the clear on this and are not liable for anything despite the fact that I remember recently reading about a rep for them almost in tears to the house of lords saying if the test case went against the banks they would meltdown....good! They can see what it's like to live on my side of things for a change.

 

I don't advocate the FOS route unless there is a clear and obvious route to either (a) Increase an amount offered or (b) clear evidence of a breach in the waiver and the way the individual has been dealt with.

In fact the advice the FSA gave to the banks in dealing with hardship specifically mentioned Financial hardship and measures that the bank might want to provide. For example, a refund of charges where the charges themselves were making the situation worse for the individuals priority debts.

What you have read here is not entirely to full picture. The bank used what the OFT used at the beginning of the OFT test case; it's called the shotgun approach. You throw all the arguments into one bucket and hope one sticks.

[Wizard of ID]

I have although there are some arrears on personal loans and council tax ... I remember recently reading about a rep for them almost in tears to the house of lords saying if the test case went against the banks they would meltdown....good!

Hey everybody, look at me playing the world's smallest violin!!!! I know it would be a really bad thing for them to go into meltdown, but they've been such sheisters for so many years, I find it very hard indeed not to crave such retribution, and damn the consequences! May I be blessed to live long enough to see the CEO of Nationwide in jail! And I hope he gets raped.

 

As for your arrears, they can of themselves be regarded as a sign of hardship. I don't know enough of your situation to comment, but have a read of this site: Bank Charges Hardship: Reclaim NOW inc template letters...

 

Personally, I think a little financial engineering (or even quite a lot!) is justified when dealing with these thieves.

[freethemice]

Does that mean that I should write to the bank advise them I am 2 months short with the council tax because they have my money and they are obliged to send me this money?

All the Halifax have offered in my case is £28 for over £2000 worth of charges if I sign a document stating this is in full settlement of my claim.

[Wizard of ID]

If you agree to agree to accept £28 in full and final settlement, that means the bank's off the hook and doesn't have to offer you any more. That's a really, really, really REALLY baaaaaaad deal. Don't even think about it!

 

Regretably, hardship does not oblige Nationwide to anything except to consider your claim. They don't have to pay out. They just have to stop refusing to review it on the grounds that they're waiting for the results of the test case. If you tell Nationwide that you want to expedite your claim on the grounds of hardship, they will send you a two-page form to complete -- it's not dificult, and just asks for your monthly incomings and outgoings.

 

It goes without saying you should (without lying) massage these figures to your advantage in every way you can. In my case, my wife has a large income that goes into a separate account in a different bank -- we didn't tell Nationwide about that, since the form didn't ask about it. We pay our gas and electricity every three months, but we just quoted the entire quarterly figure, instead of dividing it into three. Along with various other tricks, we made it look like we were living in a cardboard box, eating nothing but mouldy bread and drinking river water! That is by no means representative of our circumstances, but Nationwide doesn't need to know that. They don't think twice about taking advantage of us, so quid pro quo!

 

They will then review your form to see if it falls within the FSO's guidelines. This website tells you what they are, in plain English: Bank Charges Hardship: Reclaim NOW inc template letters... If you qualify, they will then consider your claim, but they may just come back telling you to get lost. At that point, you can live it (although that's exactly what they want you to do), or you can fight them, and that website will tell you exactly how to go about it. But reclaiming your charges is not an instant cash scheme. You need to do a lot of work, and it can take a long time.

 

Alternatively, you can wait for the results of the test case, which has been encouraging so far. But that's not likely to get resolved any time soon. Sorry I can't be of more help.

[indebtstudent]

Many a thread like this shows the waiver and the hardship provision up for the cosy little arrangement it is. It is just a stall, all signs point to the banks losing, personally I'm getting a little anxious that they don't have the means to pay...