Self Employed PPI Claim

coldbeans

Hi I am wondering if anyone can advise we recently heard that PPI was useless if selfemployed.

My husband has had seveal loans over the past 11 yrs and a credit card all with PPI / LPI and from the same bank.

We contacted them and they claim that my husband would have been able to claim eventhough selfemployed and after digging out the policy we have seen that they claim to cover the selfemployed aswell as employees.

In these instances would the insurace really have paid anything out as the info I have heard is that these PPI's are worthless for the selfemployed.

On top of this they also sold the policy to my husband claiming that this would ensure he got the loan - of course they did not comment on this in their reply. They have sent a leaflet for us to contact the Ombudsman and advised that we shoud contact them if we are still unhappy, so I am guessing that this is their first but final response.

Has anyone got any suggestions?

The PPI paid out is approx £10K.

Many thanks

Emma

maxdp

coldbeans wrote: »

Hi I am wondering if anyone can advise we recently heard that PPI was useless if selfemployed.

My husband has had seveal loans over the past 11 yrs and a credit card all with PPI / LPI and from the same bank.

We contacted them and they claim that my husband would have been able to claim eventhough selfemployed and after digging out the policy we have seen that they claim to cover the selfemployed aswell as employees.

In these instances would the insurace really have paid anything out as the info I have heard is that these PPI's are worthless for the selfemployed.

On top of this they also sold the policy to my husband claiming that this would ensure he got the loan - of course they did not comment on this in their reply. They have sent a leaflet for us to contact the Ombudsman and advised that we shoud contact them if we are still unhappy, so I am guessing that this is their first but final response.

Has anyone got any suggestions?

The PPI paid out is approx £10K.

Many thanks

Emma

Hi threre that was not LLOYDS per chance was it.
:rolleyes:

coldbeans

Yes it was - is this usual for them?

maxdp

coldbeans wrote: »

Yes it was - is this usual for them?

Hi there it was just so familiar really. I have over draft insurance plus insurance on all Business loans and cc ppi with Lloyds. I am self employed and although they say have to work 16 hours per week do not know if that is average or regular etc. Cause as you know if you are self employed you can work 100 hours one week and 15 the next. Can you give a bit more detail about your claims and hopefully somebody here can help.;)

coldbeans

The claim is that firstly my husban was told that we would defo get the loans etc if he took the PPI but also we heard that this was worthless for self employed people.

We have sent the initial letter for each loan and for the credit card - all loans have been closed / consolidated into one another - in the past 11 yrs there have been 4 different loan accounts all with PPI and we have approx 14 months left on one.

We even contacted the bank, to request removal of the PPI on the currentloan they then tried to get my husband to take a new loan which actually had a higher monthly repayment for the same time period - and whilst my husbands current loan agreement states a monthly amount of PPI, Lloyds are stating that this is all paid upfront - however they did not tell him this when he requested to have the PPI removed. It wasn't until he told me all the details and I made him call them to ask where this starting value had come from as it appeared to contain the PPI. We have kept this new loan quote and taken the details of who we spoke to as they seem to be giving conflicting info - particuarly v's the agreement we have.

Looks like it might be along drawn out battle - does it look like we have a case?

di3004

coldbeans wrote: »

The claim is that firstly my husban was told that we would defo get the loans etc if he took the PPI but also we heard that this was worthless for self employed people.

We have sent the initial letter for each loan and for the credit card - all loans have been closed / consolidated into one another - in the past 11 yrs there have been 4 different loan accounts all with PPI and we have approx 14 months left on one.

We even contacted the bank, to request removal of the PPI on the currentloan they then tried to get my husband to take a new loan which actually had a higher monthly repayment for the same time period - and whilst my husbands current loan agreement states a monthly amount of PPI, Lloyds are stating that this is all paid upfront - however they did not tell him this when he requested to have the PPI removed. It wasn't until he told me all the details and I made him call them to ask where this starting value had come from as it appeared to contain the PPI. We have kept this new loan quote and taken the details of who we spoke to as they seem to be giving conflicting info - particuarly v's the agreement we have.

Looks like it might be along drawn out battle - does it look like we have a case?

Hi there

I am sure Maxdp shall be back at some point.

Yes this is the usual for Lloyds as it seems.

And yes you I think you have a good case here.

I would get writing to complain about this and also check this out here for further information:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Some useful PPI info on the above link, also a reclaim template letter, although try to add in your own words if you can, they have 8 weeks to respond in full.
Post by recorded delivery.

Keep us posted in order for any further help if required, another letter maybe required, but keep at them.
Good luck.;)

maxdp

coldbeans wrote: »

The claim is that firstly my husban was told that we would defo get the loans etc if he took the PPI but also we heard that this was worthless for self employed people.

We have sent the initial letter for each loan and for the credit card - all loans have been closed / consolidated into one another - in the past 11 yrs there have been 4 different loan accounts all with PPI and we have approx 14 months left on one.

We even contacted the bank, to request removal of the PPI on the currentloan they then tried to get my husband to take a new loan which actually had a higher monthly repayment for the same time period - and whilst my husbands current loan agreement states a monthly amount of PPI, Lloyds are stating that this is all paid upfront - however they did not tell him this when he requested to have the PPI removed. It wasn't until he told me all the details and I made him call them to ask where this starting value had come from as it appeared to contain the PPI. We have kept this new loan quote and taken the details of who we spoke to as they seem to be giving conflicting info - particuarly v's the agreement we have.

Looks like it might be along drawn out battle - does it look like we have a case?

Hi There can I PM you

dunstonh

Hi I am wondering if anyone can advise we recently heard that PPI was useless if selfemployed.

Incorrect. It may or may not be depending on the type of PPI.

If the policy doesnt cover self employed and you are self employed then its something you could claim back. If it does cover self employed then you cant claim it back using that reason.

Claiming it back on those grounds just makes it look like a fraudulent claim which is probably why they have rejected it.

I am guessing that this is their first but final response.

It is.

If you made the complaint on the basis of not covering self employed and they do then the complaint will be rejected. You would expect the FOS to agree with that as well as you are technically incorrect with your complaint.

coldbeans

Hi would the FOS reject eventhough we were also complaining to Lloyds that we had been sold the policy as essential to getting the loan?

coldbeans

Hi there sure send me PM as necessary.

Don't wat to be wasting my time trying to get the cash back from them but it's such a large amount and it seems so wrong that thy can get away with this - when they have mis sold and stil appear to be behaving so underhandedily.

Any advice / help you could provided would be greatly appreciated.

Emma

dunstonh

Hi would the FOS reject eventhough we were also complaining to Lloyds that we had been sold the policy as essential to getting the loan?

Anyone can say that. Where is your proof. Lloyds wont have any proof it wasnt said, you wont have any proof it was said. It would have to be a judgement call by the FOS and Lloyds seem willing to accept that.

If you used a template letter they may be playing the odds game. Template letters have a lower rate of success at the FOS than personalised letters of complaint. Whilst there is no official reason for why this is the case, it is my opinion that too many template letters include reasons that can be proven to be wrong by the firm. So, when a balance of probability decision needs to be made (which happens quite a lot when there is no proof either side) they look at the individual and the response from the firm to see which appears most likely. If the person claiming has already been found to lie about information it will work against them.

When people say they were told something, the firm will say they will not. This leads to the four truths principle. What you said was said. What the firm says was said. What was actually said and how what is said is interpreted.