Al59 at war against Nasty West

[Al59]

Hi everyone,I'm new to this site.I sarted Court proceedings against Natwest last month for misold loan insurance,The banks are presently being investigated by The OFT over the selling of these policies.Briefly they attached the policy to my loan they get 40% commission from the insurance company,they send the premium which was £3675 to the insurer
less the 40% they then put the £3675 on top of the loan so you are now paying interest as well. I had a friend in the same business as me who broke his foot and tried to claim he was told because hw was self employed he could not claim for illness,accident,falling out of work,however a claim would be CONSIDERED IF he became Bankrupt.
When I found this out I tried to cancel the policy,Natwest told me I could not cancel.Since threatening them they have suddenly allowed me to cancel but they say because I have had it for so many years I have to carry on paying £26 per month for something I dont have.I am also claiming charges now from two accounts totalling £8560 I have started court proceedings on one and am starting court proceedings next week on the other one. I think I have made a mistake with the insurance claim as I have now realised I have tried to claim to much on the claim can any one help as Natwest have said they are defending all of this claim. Al59

[enaid]

Hello A159 and Welcome,
looks like you are rather busy then with your claims, I suggest to make it easier for people to help you, that you give the info for each claim and where you are up to seperately. That way you will be helped with the next stage for each of your claims. Enaid

[enaid]

When you are all settled in, please feel free to join in any of the Lamp Post threads for a chill out and a laugh.

[Al59]

Loan insurance Rip off

Hello Enid,
lets take the insurance one first The Natwest claim that when they sell the policy to you it is explained to you at the time.This is lies they just attach it to the loan.Who in there right mind would accept a policy if the seller said "I must warn you as a self employed person you can not claim for illness ,accident ,or losing your work" This was not explained to me and this is why the banks are being investigated. I just put down the cost of the policy on my claim,I realise I should have calculated how much they had taken each month up to the cancellation then worked out how mch they will take out each month till the end of the loan. I am scared that the court would kick it out or could I explain on the day as I am claiming less than the original claim.

[mistie]

Hi Al59,

Welcome to the site make sure you start a thread in the natty west forum.

When you feel up to theres some great advice and fun to be had in chat...be warned can be abit mad at times but the people in there are great.

mistie

[enaid]

A159, I am sorry I must have not made my self clear, you are best off posting your details in the Nat west forum for your 2 charges claims seperately. Your PPI claim will be best started off in there for now as well. PPI is a different ball game to charges claims so will have to be treated differently. Once you have your threads started people will be able to see where you are up to and help you.

[Delta]

You know, I am sure that I read somewhere that when claiming back a mis-sold ppi, you had to use the full amount of the policy as it is added to your loan and you pay interest on it.

Can't remember the specifics, but I am sure that you claim the full amount back....does someone know what I am talking about cos I don't !

[Delta]

Oh and by the way, welcome to the site AI59

[Nattie]

Just to clarify a few points, Loan Protector is a policy that can be cancelled within the first 14 days and the policy terms and conditions are available to read. Second point, NatWest did lie with regards to cancelling the policy which can be done at any point during the loan, with the newer payment taking effect the 2nd month after cancellation. I believe you are correct that as a self employed person you can claim but only if the illness makes the business fold, not necessarily bankrupt. The Duty of Care Checklist which is attatched to the loan form, you are required to sign to state you have understood what is and is not claimable and that you are or are not taking the loan protection. It is not just stuck onto the form as that would be sackable for any loan seller with the bank.

[Al59]

Hi Nattie,
This makes me sound like I havnt got a chance with this claim for misold insuransce.I work away from home for three quarters of the year I was away when all the paperwork was sent to me.Not once during the meeting for the loan did the bank employee explain that I could not claim for illness accident or falling out of work.That is the whole point about taking out insurance to cover yourself.I have been with Natwest for over 20 years they know I am a self employed entertainer the girl even asked me were I was flying to next. They did tell me I could not cancel when I tried and I just kept paying till I saw an article in Mail on Sunday about the banks being investigated for miseling loan insurance that is no good to anyone who is self emplyed.I then threatened the with action and they cancelled the policy But what gets up my nose is that when they did cancel the policy they are still charging me £26 per month saying repayments are higher at the start of the loan because the risk is higher,my payments did not drop the longer the loan went on so what am I PAYING FOR?????

[Nattie]

The payment would have dropped slightly when the PLP was cancelled. Have you got a copy of the insurance Terms and conditions? If not can you get a copy of the ones you had and post the bits about self employed bit. We will get you there but if everyone has the wording we can win this one as well. I would still say you have a case because if the policy was not clearly explained to you and that it was not cancelled there is a claim for the number of payments made when the loan was cancelled

[enaid]

That is true the payments are higher at the beginning. As far as the self employed bit you will have to check your T&C's that will tell you exactly what you can and can't claim for.
There are different rules which they use to work out the settlement figures when you cancel PPI, I will see if I can find the info for you. Also on this forum there is a member Hellasnofury, she has had successful PPI claims and will be able to help you a lot better than i.

[Al59]

A star is Born

Hi Nattie,
searching this site I have just realised you work for Nasty West.You should be in my Business because you are a STAR
Taking the chance that you do to help us all.Bravo!!!!!!!!!!!!!!!!

[enaid]

You got me going now, i know your in show biz, but which part?

[Nattie]

No worries, but i think we need to now take the convo to the natwest bit of the site, i keep forgetting this is the welcome bit of the site. My knowledge of NatWest is fantastic, called natty or natwestaffmember or nattie depending on the site that you go on. Insider has my 30 seconds of fame on whistleblower(bask in glory for one second ). Today Nattie is a year old or rather one year of helping people get their money back.
NatWest forum is where we should carry on this case, ok?

Maybe I should swap jobs with you as well, Job swap