Nationwide PPI - Advise

amersall

If the institution continued to pursuade or badger the OP to select PPI by explaining the benefit and not the cost and/or specific exclusions; or if the institution did not ask key questions as to the suitabilty of the product (we don't know this yet - the OP hasn't divulged the specifics of the call) - then I think that this is very much a mis-sell and that the OP has a decent enough chance of a claim.

I would go with this, if it applies, and take on board what dunstonh said.

Cockney_Wideboy

Watson306 wrote: »

I am confused about what to do now then.
I will have to listen to the recording again, but as I remember they only stipulated the benefits of it, and didnt really ask my circumstances.
I have to admit I caved in too easily going by the transcript of the call - bit disapointed with myself (there is no doubt it was me), but I can only put it down to now knowing what I was being offered at the time.

Is it worth raising a case with the FOS, or as I stand a small chance willit be too much hassle for no reward?

It is DEFINITELY worth forwarding the complaint to the FOS. It is a quick form to complete and the price of a stamp. And then you sit back and wait. That is all.

This is based entirely upon what you have mentioned in this thread and my own assertions of the FOS viewpoint - which is based upon personal experiences, testimonies and online reports. As previously mentioned, the definition of mis-bought is both not applied and disregarded if key steps are not taken/followed. This includes the seller giving the 'buyer' enough informationt to make an informed decision. If this did not happen, buy that stamp.

Watson306

Thanks guys.
I will listen to the transcript again over the weekend, but it sounds like it maybe worth trying anyway.

Will let you know how I get on if I do decide to go down this route.
It was a credit card by the way.

Cheers again

-taff

I would forward it to tthe FOS anyway, if you could have afforded the repayments with another income, or savings, or it wouldn't have covered you if you needed it or your circumstances at the time of the call weren't discussed.
Also, if it was single premium and the implications of that weren't fully dsicussed I would forward it on that basis too.

Get your skates on, you're almost out of time.

[Deleted User]

Watson306 wrote: »

Will let you know how I get on if I do decide to go down this route.
It was a credit card by the way.

Yes now you've told us that it was a credit card we can discount -taff's reference to "single premium" which was only applied to loan PPI. However, what you still haven't detailed is exactly what you complained about in your original letter because it is this which the Bank will have considered when deciding to decline your complaint. You also haven't properly detailed what the Bank said in their "full and final" response. This makes it difficult for myself and other forum users to give you advice about the specifics.

Probably the biggest mistake you made was to request proof of the telephone call to be sent to you. As the Bank's evidence is made available to FOS, you could have simply referred the declined complaint straight away, safe in the knowledge that the Ombudsman would fully check the veracity of the Bank's response.

Your refusal to believe the Bank actually had a recording has basically cost you almost half a year that your complaint could have been in the Ombudsman queue.

If you do decide to go to the Ombudsman (and there is no reason why you should not) then you can expect to wait up to eighteen months for it to be adjudicated.

As I said in my first reply back at post #2

Moneyineptitude wrote:

you could certainly forward it to FOS if it is less than six months since your original refusal.

So make haste because you will lose the right of referral if you let that six month deadline pass.

-taff

Oops, missed that bit....

[Deleted User]

-taff wrote: »

Oops, missed that bit....

I didn't:p

-taff

careful, because it will happen....:D

djdust

Moneyineptitude wrote: »

So make haste because you will lose the right of referral if you let that six month deadline pass.

So, if you let the 6 months pass and don't escalate it to the FOS, is that the end of your claim?

[Deleted User]

djdust wrote: »

So, if you let the 6 months pass and don't escalate it to the FOS, is that the end of your claim?

Yes, you have just six months to refer and after that you have exhausted all avenues available to you. Only in extreme circumstances (the death of a spouse etc) will FOS consider a referral outside of the six month limit.