Nationwide PPI

[orfoster]

Can you claim interest on personal loans with Nationwide??? Anyone done it? I've been charged £40 monthly for a loan i have been unable to pay because of bank charges and a job loss.

[dolly]

Is it a late or non payment fee? If so then yes.

[orfoster]

hi, many thanks for your help. It just say "interest charge" so im unsure. its always around £40 a month give or take £1 or £2.

[dolly]

I am assuming it is just the APR interest charge that is put on a loan and because you are not making any payments to it then the interest goes up. For example - My husband has a Lloyds loan and does not start making payments until October. However, interest is still accruing on this and it goes up daily. I assume that is what yours is then, and so the answer is that you can't claim it. You could, however, ask them to freeze the interest charge whilst you are unable to pay.

[orfoster]

Hey.

 

I've had a loan with Nationwide now for a year and took out their Payment Care Plan thing that has increased my payments by god knows how much.

 

I have been trying to get info on how to cancel this policy, Money saving expert has said that Nationwide will allow you to cancel this insurance at anytime with no penalty but then when i go onto their website it says you can only cancel within a 30day period.

 

two questions, Can i claim back the money i've paid into the payment protection insurance as i was only working casually at the time i took it out? And more importantly can i cancel it now for the future so reducing the amount i owe them?

 

Thanks.

[reidnet]

The standard for cancelling these policies without penalty is normally 30 Days.. But in your case as they mis sold you the policy due to your status you may be able to claim it back on that Grounds.

 

Just a couple of things:, Do you pay for the PPI on a monthly basis or was it a single payment policy?. This may make a difference on how they can cancell the policy. Monthly Paid policies should be easy enough to cancel compared to Single Payment policies where they tend to make the excuse that the only way they can cancel it , is by taking out a new loan agreement without PPI to pay of the excisting loan with PPI.

 

How long ago did you take out the loan ?

If it was after Feb 2005 they should have by law provided you with a breakdown of your loan, EG Amount of Loan Interest On Loan Total for Loan, and also Cost Of PPI Interest on PPI and total cost for PPI.

along with a total for both.

 

Ive probably confussed you more now..lol If you need anything explained more , Give me a shout and I will try and sort it out for you .

 

Good Luck

 

Ian

[orfoster]

Hi, thanks for the reply

 

I have a copy of my credit agreement here. I pay the insurance on a monthly basis and its worth £1333.95 of the loan in total. I took the loan out in November 2005.

 

Over that time i didn't work on a contract that was permenant or full time so i guess i can get the policy cancelled, i just can't remember where i was working at the time i took the loan out etc. I don't know if that matters, are people having to prove all of this?

[reidnet]

 

Over that time i didn't work on a contract that was permenant or full time so i guess i can get the policy cancelled, i just can't remember where i was working at the time i took the loan out etc. I don't know if that matters, are people having to prove all of this?

 

If they were told that you were not in full time employment at the time of the sale, I think that you will more than likely find that you will not be able to claim on the policy, Have a look through the Terms and Conditions as it should be stated in there about full time employment.

If as I suspect that contract employment is not Covered your policy has been Mis sold to you and you have a case to fight here.

 

Nearly all PPI policies have different terms and conditions, so if you have a copy of the terms and conditions go throw it with a fine tooth comb and I think you may find you would not be eligble to make a claim on it. If you scan the Terms and Conditions and email me them I could have a look too.

 

In fact the more Info I can gather on different terms and conditions would be useful to me too.

 

Good Luck

 

Ian

[orfoster]

Hey, heres the link for the Terms and Cons. Nationwide LoanCare Cover

 

I have some questions, i told them when i started at my job how long i'd been working with them and even sent them a copy of my contract which showed i'd only been working there 4 months and the cover says you need to have been in employment with the place for 6months.

 

I no longer work for the company and work in a job where i am not on a full time contract but do work 50hours a week at the mo and have worked here for 9 months, will that have any effect on it now or is it at the point the policy was taken out.

 

Do you think i should ask Nationwide for disclosure on all the information they hold on me to do with my PPI so i can see what they asked me at the time etc?? The other thing is that when i took out the loan i increased it twice more when i was working for another employer that i did have a contract with but was a temporary contract. Do you think it applies when i took out the first loan or the last time i increased it if you see what i mean as it was a new loan agreement i signed??

[orfoster]

Hi all.

 

I am helpling a friend from work claim back her bank charges. She has three accounts that are all current and are flex accounts, two of them are joint accounts. The question i have is....we have done all this on three different spreadsheets as they are all different accounts but would be better if we could claim them all under the same claim, will there be any problems with this?

 

Will she have to run three seperate claims or do them all in under the same claim?

[Allyxia]

Hello and Welcome

 

Congratulations for posting in the correct forum, here you will have other “experts” who know how that particular this bank reacts.

 

 

I have just finished my claim with this bank, but I decided to stick around to see if I help others like you who are just starting out with their claim to see if I can share anything to make your journey through this claim a bit better!!!

 

My understanding is three seperate accounts still equals three seperate claims!! As you are looking at three different contracts!!!

 

Remember the banks have acted unlawful you haven’t!!!

 

 

Well done for reading the FAQs and continue to read as many threads as possible as there is a wealth of information on here!!

 

 

Remember its important to open a parachute account, especially if the charges are spiralling out of control and you have little or no money left, at the end of each month.

 

 

If your account goes into a negative balance after you have transferred your banking, send them this notice to prevent them taking any further action.

http://www.consumeractiongroup.co.uk/forum/bank-templates-library/5078-10-data-protection-act.html

 

If you get stuck have a look (by searching) to see if your question has already been asked by reading other people threads, if you are still not sure either post your question in your own thread or PM me to attract my attention and I will be happy to help you by answering on your thread.

 

Also look for another newbie claiming against the same bank as you, that way you can do your claim together and support each other as the post drops through the door!!

 

 

Sometimes the banks act awfully and you can get very stressed out by it all. But stick to your guns - you are in the right - they are not. Don’t let them put you off, that’s what they want to do!

 

Hope this helps

 

Good Luck

 

[orfoster]

Hi,

 

Thanks for the reply. Ok so i have now prepared for her, three seperate prelims and spreadsheets for each account. There isn't any reason why these can't all be sent in at the same time is there? Although they are all seperate claims they can all run parralel to eachother can't they? or can someone see anything wrong with that??

 

If not i will be sending them off today, the claim comes to about £400 for the three accounts.

[orfoster]

Anyone see anything wrong with me sending all three Prelims for each account in at once?

[kirstytwin]

Hi,

 

You can send them all as one claim stating all three account numbers and attaching three seperate spreadsheets.

 

When you put the total of what you are claiming just put the total of all 3 accounts.

 

Hope this helps,

 

Kirsty

[debt_mountain]

Kirsty is correct. you can claim for all accounts at the same time. You can send seperate prlim letters & LBA letters but at the court stage all 3 can be on 1 form. If the total for all 3 is greater than the £5000 limit it may be less stressful tosplit them, but I went for £13,000 in 1 claim and won £10,000 so far.

 

good luck.

[orfoster]

Thanks both of you for your advice, i will tell her. I thought this was the case but wasn't too sure. Cheers.

[orfoster]

**Bump**

 

Can anyone help me on this one? I really don't know where to start here, im trying to read up as much as i can but im not getting far. What is it i need to write to them in a letter?

 

If someone can help. Cheers.

[reidnet]

Hi,

you may get some idea from my earlier thread, http://www.consumeractiongroup.co.uk/forum/ppi/25650-reid-lloyds-2-ppi.html

 

I will have another proper read of your post later this week, sorry but my head is not very straight at the momment, one of my friends and neighbours collapsed and died very suddenly last night..He was on 33 too..

 

I hope the above gives you some idea, you can change it to suit your own needs, but i will glady have a read over any letter that you write before you send it.

 

Good Luck

 

Ian

[demon_x_slash]

Sorry to hear that, reidnet.

[orfoster]

Ian,

 

I am ever so sorry to hear that. I will read through that post. Thanks for your help.

[orfoster]

LOAN ACCOUNT NUMBER: ********

 

 

Please supply me with terms and conditions I have with your organisation and the grounds that my policy has Payment Protection Insurance on it. I am requesting access to the questions I answered when being sold the Payment Protection Insurance I currently have with you for the above account and also the requirements for this to be put in place.

If you are unable to supply this data as requested above then please indicate so in your response to this request.

 

I enclose the statutory maximum fee of £10. You have 40 days in which to comply. I require all data held in relation to how the Nationwide Loan Care was sold to me and the terms and conditions with this policy. I require this information as I have been informed and understand I have been mis sold this policy and would like to cancel this policy from the start of the cover.

 

If there is specific information which you require in order to satisfy yourself as to my identity, please let me know by return. However, please note that the above address is the one which you normally use to communicate my private business to me and which you have hitherto found to be acceptable.

 

The policy involved was mis sold to me by a member of your staff at a time I was in financial difficulties and I was pressurised to take the policy otherwise the loan would not be approved.

I am looking for all data on this payment protection policy so I can look into this further. I can see that the policy was applied and has the value of £1,333.95. I have been informed that this policy was sold to my in a deceitful manor and that you are not allowed to make Payment Protection Insurance a condition of taking out the loan unless you include the cost of the PPI within your quoted loan interest rate, which you did not do. I therefore consider that I have been mis-sold this expensive insurance that I did not want and wish for this to be cancelled. If you have any questions then please write to me at the above address, I will look forward to receiving the above requested information.

Yours faithfully

 

This is what i am thinking of sending in, SAR + informing them that i am wanting the PPI back, any suggestions or additions to this letter??

[orfoster]

Sending off the above SAR request to nationwide today. Fingers crossed. I think it says all it needs to say.

[reidnet]

Hi,

Sorry for the delay getting back to you on this one.. Had some things to do recently.. and had film crew from Granada TV here yesterday.

 

Firstly you should submit your SAR to obtain all the information and copies of the original loan agreement. Once you have the copies have a good read through them and give me a shout once you have them.

 

The employment status will be important at the date you took out the policy, as I am sure you will have advised them at the time of taking out the loan you were on short term contract ?, this being the case I would say that you would have struggled should you have tried to claim on the policy.

 

Let us know when you get all your information back from them and we can take it from there.

 

Good Luck

 

Ian

 

PS.. Friday 12th January - Tonight with Trevor McDonald - Programme is all about Payment Protection Insurance.. Hopefully it will help our cause too..

[orfoster]

Hi,

Sorry for the delay getting back to you on this one.. Had some things to do recently.. and had film crew from Granada TV here yesterday.

 

Firstly you should submit your S.A.R - (Subject Access Request) to obtain all the information and copies of the original loan agreement. Once you have the copies have a good read through them and give me a shout once you have them.

 

The employment status will be important at the date you took out the policy, as I am sure you will have advised them at the time of taking out the loan you were on short term contract ?, this being the case I would say that you would have struggled should you have tried to claim on the policy.

 

Let us know when you get all your information back from them and we can take it from there.

 

Good Luck

 

Ian

 

PS.. Friday 12th January - Tonight with Trevor McDonald - Programme is all about Payment Protection Insurance.. Hopefully it will help our cause too..

 

SAR Submitted 6th January. Letter received today saying they are completing my SAR and will get back to me within the 40days. Yes i told them i was on a short term contract with no garunteed hours and to be honest in 99% sure i actually had to send them a copy of my contract to take out the loan because they were unsure if they were gonna give me it because of that and then they let me do the PPI as well.

 

So i await the information to take the next step. I will be trying to watch that show, if not i will try and record it.

 

Thanks for your help.

[reidnet]

It will be interesting to see what your SAR reveals..

 

Ian