Released on: January 31, 2008, 3:44 am

Press Release Author: BeyondPR

Industry: Financial

Press Release Summary: Nat West threatened with legal action over alleged
'fraudulent' sub-prime selling of PPI

Press Release Body: The consumer champion BrunelFranklin.com is prepared to take Nat
West to court over a recent case where an unemployed man alleges that he was
mis-sold PPI policies totalling more than £11,000 that were worthless, as he
couldn't claim against them.

Phil McGrath from Ross on Wye in Herefordshire says his original loan agreement was
altered twice by NatWest to hide the fact that he was unemployed at the time of
sale. Mr McGrath has not worked for seven years and receives both Disability
Allowance and Severe Disablement Allowance. His monthly payment on the Nat West loan
was £500 against a monthly benefits income of just £1000.

Mr McGrath says he has suffered considerable financial hardship as a result of
taking out the loans with NatWest and has been served with an eviction notice. He is
effectively bankrupt and says he doesn't have enough money to eat.
BrunelFranklin.com's specialist PPI compensation team Conkers.co.uk is now in the
process of issuing a letter to NatWest that will result in legal action being taken
if NatWest does not fully pay back Mr McGrath the PPI payments plus interest.

Anthony M Sultan, managing director of BrunelFranklin.com and Conkers.co.uk said:
\"We are starting to see more and more sub-prime lending where PPI takes the customer
over the edge financially. How is an unemployed man supposed to be able to afford
£25,000 in loans, never mind worthless PPI policies costing over £11,000 that aren't
worth the paper they're printed on? One of the main exclusion clauses on most PPI
policies is unemployment, so we are absolutely staggered as to how this sale could
have happened. We are hoping that NatWest will see sense and that legal action is
not required. We are however passionate about ensuring consumers get redress against
PPI mis-selling and should this case be proved in the Courts it will be one of the
worst examples we have ever seen. We will not let it rest and will take this case
all the way on behalf of our client if necessary."
Even though he said he was unemployed, Mr McGrath alleges he was sold two PPI
policies by
NatWest; one totalling £7639.00 in connection with a £17,000 loan, and then another
for £4540 covering a refinancing loan for £25,000 when the payments became too
expensive to afford.


Mr McGrath says that when he tried to claim against one of the PPI policies for a
serious kidney condition requiring hospitalisation, he was told that he was not
covered. At that point Mr McGrath decided to consult the experts and took the 60
second test at Conkers.co.uk

Anthony Sultan added: "Changing loan agreement documentation to serve your own
purposes is fraudulent. We are sure that if a Court accepts Mr McGrath's version of
events that the judge will find in favour of our client. We believe Nat West should
pay up now before any further action is taken."




Web Site: http://www.beyondpr.co.uk

Contact Details: Media Contact: BeyondPR. Tel.: 0114 275 6996. Mob: 07930 697773.
www.beyondpr.co.uk
Ref: BFL275 PPI - Phil McGrath