Hi All (Some advice greatly appreciated) nationwide ppi OFT reject. confused

[deano01959]

Hi All,

 

Firstly please accept apoliogies if I've missed information on the forum. I have spent time looking around and am still stuck. Any advice would be greatly appreciated.

 

I put in a PPI claim with the FOS (updated) against nationwide over a year ago for 9 sucsessive personal loans dating back 10 yrs and 1 standalone.

 

 

Due to a relationship breakup and becoming a single parent to my 12 year old son 2 years ago (plus being a bit silly with credit) I got myself in debt and am now on a DMP. This was around 6 mths ago (not sure is relevant but wanted to give all information in case). I am also suffering from mental health (depression and anxiety) moderate.

 

Anyhow, through politely and gently asking plus providing evidence of my situation I got the OFT to finally look at my case as a prority (debt,health evidence submitted etc)

 

initial review a year ago looked like my claim had a high chance. Advised by OFT who had all paperwork from myself and nationwide. loan no's, signed agreements etc etc. I folllowed by the book and advice here and MSE.

 

I got a call yesterday basically saying the claim would not be upheld. I did not use a 3rd party and done the paperwork, claimed myself and explained as per guidlines why I thought the Ppi was mis-sold.

 

There are no recorded calls, no hard evidence etc other than the credit agreement i signed and ticked the ppi box. On the phone the PPI wasn't explained, I thought I had to take etc and was not explained exactly what PPI was etc etc.

 

The lady from the OFT explained in her opinion that the paperwork sent out clearly showed PPI details and nationwide were and have been diligent in there processes. Bottom line is i stupidely didnt read and just went on what was said on the phone etc. (all they have is a signed agreement) I have been employed by the same company for 22 years, they had very good sickness benifits, pension and I had funds in the event I lost my job.

 

Obvioulsy I am gutted (to say the least) as the potential payout would of been high and allowed me to pay off my debts to nationwide and halifax etc.

 

My understanding was that the credit agreement, box ticking as advised by the OFT didnt hold much weight when making a ppi claim, esp when going back 10 years and thought my case no different to other nationwide unsecured perosonal loans and PPI miss selling.

 

She said in her opioion nationwide have been much better than most and covered themselves. Hence the complaint would not be upheld.

 

My thoughts were if nationwide have paid out PPI on personal loans through the OFT this should set a precident if my case is the same?

 

I have no idea on sucess rates with nationwide and have googled etc. Nor do I know if the law has changed. The lady said she will have to run her decision via a senior and I can appeal.

 

Any advice would be greatly apprecaited, if this is prob a right off I would rather know or if there may be a glimmer or hope if I do something different on appeal etc.

 

Stuck for ideas and trying to keep my chin up, 88% sucsess rate and I've fallen into the minority (no violins I assure) must push on!

 

I have asked for a copy of agreements I signed and they based thier decsion on. The lady will talk through her decison with me Tuesday. Is there "Anything" I can say or do to change her mind please or point out. They are the experts and I am out of idea's. I will look through all paperwork and just wish they had recorded calls as I know the pitch was poor and one to make me feel I had no choice but to take the PPI.

 

Good luck all the rest of you in the process! This thread may even help others in a similiar situation

 

Kind Regards

Dean

 

Thanks all

Edited August 24, 2013 by deano01959

[deano01959]

sorry just some thoughts here after reading others stories

 

Could it be the amount of the potential claim? rulings changing and sheer number of complaint's? the banks have so much power?

 

ahh im confused, ok lets see other threads to warn people if I've done something wrong in all this. Dont want others to fall foul

[deano01959]

Been a tough week. I meant the FOC not OFT

 

Ok I complained to nationwide, no go on PPI

 

Got all my loan numbers etc from nationwide, 10 in total. Turns out after a while 9 were sucsessive loans over 10 yrs.

 

It wasnt the OFT, im going potty it was the FOS i contacted, provided details, filled in 10 forms. Sent back and after an initial review of my paperwork and nationwides. ie signed credit agreements they said it is a claim they will review and looks positive. just on basis initial evidence

 

So I filled a claim myself

 

I had good sick pay, family and friends, insurance policys. Employed at compnay for 10 years and after 22 still employed.

 

No calls have been recorded and I wish they had because I was mis sold this PPI via telephone calls. I did not read the small print on the credit agreement due to the very forward and unprofesional selling tactics on the phone. Why would I. I fully trusted the business and the person who I spoke too at nationwide. The PPI wasnt explained in detail, mis leading and only covers a portion.Was inferred it was compulsory.

 

No explanation of cooling off period. I had no health conditions, good credit. Was never explained what was covered at all. I had been employed at the same company for 10 plus years and am still with them now after 22. My redundacy package and sickness was very very good and can be provided for the times I took out these loans from my HR department.

 

quite simply nationwide

 

Didn't make it clear the policy was optional or tell me about any cooling off period.

 

Implied or insisted I take out their policy to qualify for the product or help with your application. Was very pushy when selling me the product, so you felt you could not say no. Would not let you continue with the application if you did not sign the insurance agreement as well.

 

The loan agreement's were made over the phone. I have done all due diligence throughout. Nationwide, its employee's have not. To me and many professionals in this area the decision and the simple legal guidelines were not followed by Nationwide via calls when applying for these top up loans.

 

As far as I am concerned the below simple guidelines were not followed

 

Didn't make it clear the policy was optional or tell you about any cooling off period.

 

Implied or insisted I take out their policy to qualify for the product or help with your application.

 

Was very pushy when selling the product, so I felt you could not say no.

 

Would not let me continue with the application if I did not sign the insurance agreement as well.

 

I can only go by what i recall, know.

 

"Shrugs" and sorry I'm no expert hence I'm here trying to get a lil help advice

 

Correct me if I'm wrong if nationwide can provide details, even in size 8 font "terms and conditions" they sent me highlighting the above, i.e cooling off period, what I was covered for and so fourth and I ticked the box then I havent a leg to stand on. No log of calls etc

 

it may be as clear cut as that for the FOS? BUT am i right in saying that this should of been provided? leaflet etc

 

all i recall and all the eveidence nationwide can provide is a single sided signiture and PPI tick box form?

 

If i'm completely of the mark legally and your unbiased, factual, please tell me.

 

I will appeal, ask for a senior/chief to review and contact my MP "If" you think I do or may have a case. 10 years back is a long time for both me and nationwide I understand that.

 

Its just there's some good strict guildlines that should have been adhered too and I honestly, hand on heart dont think they were. A sales guy on the end of phone really understanding what he should be informing and clarifying? hmm not from my experience and recolection.

 

Hit me! I'd just rather know whether to pursue and if I've possible been untreated unfairly. that is all

 

Can someone kindly who knows please advise