Limited Company / Sole Trader

cavemanbiggles

I'm a little confused and could do with some clarification.
I have the final piece of paperwork I was waiting for and having just gone though all my old car loan agreements I note a couple of them were set up through my old Limited Company when I was a Sole Trader, the rest are in my own name. I believe PPI was mis-sold and wondered am I able to put in a claim where loan was set up in the company name, or do they need to be personal agreements as such, or does it in fact make no difference as it's all essentially me?

di3004

cavemanbiggles wrote: »

I'm a little confused and could do with some clarification.
I have the final piece of paperwork I was waiting for and having just gone though all my old car loan agreements I note a couple of them were set up through my old Limited Company when I was a Sole Trader, the rest are in my own name. I believe PPI was mis-sold and wondered am I able to put in a claim where loan was set up in the company name, or do they need to be personal agreements as such, or does it in fact make no difference as it's all essentially me?

Hello there

For whatever reasons you have for being mis sold, you pursue the ones who sat there with you on the day it was sold to you, or if it were sold via telephone purchase etc.

They do not require the personal agreements to make a reclaim but having the account number helps in order for them to track the account down. (However if you do feel tihs will help and you do have any agreements), you can send a "copy" if you want to.

You just complete the reclaim questionnaire as on step 3 below, send and keep copies for yourself in case you need to refer to it again at some point.

Good luck.

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step3

cavemanbiggles

Thanks Di. I will enclose copies of all of my agreements, my only question is with half of them being set up in my old limited company name would that affect a possible claim? They are all signed by me, and I guess PPI is an individual insurance policy so it is me and not the company 'insured'?

dunstonh

I note a couple of them were set up through my old Limited Company when I was a Sole Trader

You cant be a sole trader and a limited company. it is one or the other. You can be sole shareholder on a limited company. Sole traders pay class 2 and 4 NI. Directors pay class 1.

I believe PPI was mis-sold and wondered am I able to put in a claim where loan was set up in the company name, or do they need to be personal agreements as such, or does it in fact make no difference as it's all essentially me?

The company is the entity that complains (which is you but on company headed paper).

They are all signed by me, and I guess PPI is an individual insurance policy so it is me and not the company 'insured'?

I wouldnt guess. There are a number of business insurance/assurance plans that are different to personal insurance plans. For example, business loan PPI will have different terms to personal PPI (mainly to cover the differences in employment status).

cavemanbiggles

Sorry my mistake, it was a Limited Company which ceased trading several years ago.
Looking through all of my agreements, within the PPI section the name of the person to be insured on every single one is my full name.
All of the finance agreements are signed by me, and not on behalf of any company. It just seems strange that some of the agreements are in my name and some in the old company name. It was a while ago, and I am just not sure how relevant regarding a claim of mis-sell - I guess I will find out soon enough!

dunstonh

It will also be interesting if you succeed in your complaint as the money should be paid to the limited company. Not you.