nationwide ppi advice?

nw005uk

Hi there one and all. Im new to this and only just heard about PPI.I took out a loan back in May 2003 for £20,000 with nationwide and it finishes next may (2010). when i took it out they told me protection was compulsory for this loan due to its size. is this right. I took it as i needed the money even though i was and still am a very secure job. Do i have a case to claim? I dont know alot about this and would like all the advice from you i can get.!Thanks for all your time!Nick

coldbeans

My husband and I are trying to reclaim PPI from unsecured loans and a credit card all from the same bank - the oldest loan dates back to 1997 but we still have paperwork for it etc.

The bank say that unemployment for self employed individuals such as my husband is included in their policy but my understanding is that it is worthless for the self employed - is tis correct and should I pursue - we believe that the total PPI on the various loans and the cedit card my husband previously had equates to appropx £10K.

We were also told that my husband would be more likely to be accepted for the loans if he took out the PPI. I believe that this is incorrect and that it certainly is not compulsory.

If you check the PPI section on this sitethis will show you examplesof miss selling and how to claim back the PPI.

Good luck - hope somebody can advise me regarding the self employed issue I have.

di3004

nw005uk wrote: »

Hi there one and all. Im new to this and only just heard about PPI.I took out a loan back in May 2003 for £20,000 with nationwide and it finishes next may (2010). when i took it out they told me protection was compulsory for this loan due to its size. is this right. I took it as i needed the money even though i was and still am a very secure job. Do i have a case to claim? I dont know alot about this and would like all the advice from you i can get.!Thanks for all your time!Nick

Hi Nick

And yes you do have a case here, so I would go for it.

Check this out here for further PPI info, there is also a letter template on the link but try to write in your own words with your own reasons, post by recorded delivery for your proof of posting, as they have 8 weeks to respond in full.

Another letter maybe required if not successful first time round, or until you receive the final response, they should let you know this in the letter and details of the financial ombudsman service.

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Let us know how you get on, and if you need any further help give us a yell, good luck.;)