Nat West PPI

[antony-ryan]

I'm in the process of trying to gather information from Nat West about how much I've had to pay in PPI payments over the past 4-5 years. I've had 4 sperate loans with them over this period all but one of which were paid early and I'm still paying for one. I was always told that I would have to have PPI in order to be accepted for the loans and so have clearly been mis-sold them. So I did a SAR requesting information about all loans and received a letter a month ago informing me that any info reuired to be provided under Section 7 of the Data Protection Act would be forwarded asap, but that they have no way of locating info for closed accounts without account numbers.

 

Anyway on Monday I received a copy of the agreement for my most recent loan which I'm still paying and that's it! Then yesterday I received 6 years worth of bank statements from my current acount which I already have and don't contain loan account numbers.

 

So does anyone have any suggestions o fthe next step to take. Shall I write another letter requesting copies of all loan contracts or perhaps phone to request these?

 

If it comes to it would I be able to file one court claim for the mis-selling of PPI on all my loans with Nat West or would I have to make seperate claims?

 

Any advice would be gratefully appreciated.

[reidnet]

Hi Antony,

This is just some of my thoughts on your problem.., If your loans were all taken out at your local branch it may well be worth a visit to them, I know that with the TSB when they call up my account on their system it also brings up details of all loans with account numbers. It could be that Nat West have sussed out what you are planning an could be being awkward regarding closed accounts.

 

It may also be possible that if you were repaying the closed loans via direct debit they should also be able to trace the loan account numbers that these payments were being made against.

 

Lastly if your current loan was used partly to pay off an excisting loan, again they should easilly be able to find out the old loan agreement number for you.

 

I think the banks have now started to get wise to the fact that they are about to start receiving sackfulls of complaints regarding Mis Sold PPI.

 

Good Luck Antony

 

If you have any other Questions Just Shout..

 

Ian

[antony-ryan]

Thanks Ian for your excellent advice. All I really need is the original loan agreements in order to work out how much I've paid in unnecessary PPI.

 

Is this something they should have provided as part of the Data Protection Act information I requested?

[reidnet]

Hi Antony,

It may be worth writing to them stating that they have failed to provide all data under your SAR eg Loan Agreements. It is worth a go anyway, either that or see if you can find someone helpful at your branch.

 

Ian

[antony-ryan]

I'm still struggling to get information because Nat West are dragging their heels. However I'v just had a thought which is: If Nat West settle for unfair bank charges on my current account sometime in the near future as a full and final settlement, will I still be able to file a seperate court claim for mis-sold PPI on Nat West loans? I guess it won't be a problem because presumably it's a different acccount, but just want to check anyway.

[reidnet]

I dont think you would have any problem claiming for mis sold PPI even after claiming for unlawful bank charges. 2 seperate issues there.

 

Good Luck

 

Ian

[antony-ryan]

Ok, i've finally cancelled my PPI and received a letter this morning to confirm that it's been cancelled. However my monthly payments have only been reduced by £50 per month and the monthly amount for PPI as stated on my loan agrrement was £65. Nat West have said that the PPI payments start at £65 but reduce over the period of the loan as there is less risk. Is this correct and can they do this. I'm getting so frustrated with them at the moment due to a number of issues. Anyway surely if i have an agrrement that states that PPI is £65 a month and I've now cancelled the PPI then my repayments should reduce by £65?

[Guest NATTIE]

Doesn't work like that anthony- have a look at the T&C's and it will confirm that. The only way it would be if it was cancelled within the first 14 days of the PPI being taken out.

[reidnet]

Hi Anthony,

Well if they have stated that the PPI premium reduces over the term of the loan, surely your payments should have dropped to £50.00.

 

But as Natty says above have a good read through the Terms and Conditions of the policy, and remember to read the tiny hidden small small print in these policies.

 

Ian

[juanito12]

Hi

 

Ive got similar problem, I sent a letter to Natwest asking for a full SAR but just got 6 years worth of bank statements!! the statements have got old loan account numbers but do not have the payments broken down making it hard for me to work out what was PPI and what was the actual loan, any help would be greatly apreciated

 

Juanito