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A little advice pls, very confused... I know my dad was miss sold PPI but...
ch33sl3y
Posts: 17 Forumite
Hi, I hope someone can give me a few pointers as to what to do:-
My dad is severely dyslexic, he is also physically disabled and worked for himself for a number of years. We're talking about mid 90's to 2003ish here. He banked with Lloyds, he had several loans, overdrafts and he was sold insurance on every single one of them. He was in my opinion seriously taken advantage of because he trusted his bank manager to help him out and he couldn't read anything they gave to him. He told the bank manager on a few of these insurances that he didn't think they'd pay out but was told, don't worry these will.
After he retired he for some reason went to see his bank manager (he still had some running insurances with them) and told him he had all these insurances that were no good to him... they wouldn't pay out. The Manager took all the paperwork off him and told him, "Don't worry about it, leave these with me, i'll sort it out... if you hear anything from any of them just ignore it." :mad: My dad had a lot of things on his mind at the time and for some reason left said insurances.
Now all we have are his accounts and stacks of bank statements. These bank statements have loan payments and policy numbers and loads of insurance DD's on them and all kinds of different companies/policy numbers and we obviously have no idea what they were or any of the paperwork that went with any of them.
So my question really is what can we do, is there any way we can find out what these policy numbers are for? How do we go about it? Or have Lloyds & this dodgy bank manager managed to get away with ripping off & taking advantage of a disabled dyslexic man?
He wants to go to one of these no win no fee claim places but I'm loathe to do that since I believe someone else will be making money for nothing out of him.
Any advice or help gratefully received.
My dad is severely dyslexic, he is also physically disabled and worked for himself for a number of years. We're talking about mid 90's to 2003ish here. He banked with Lloyds, he had several loans, overdrafts and he was sold insurance on every single one of them. He was in my opinion seriously taken advantage of because he trusted his bank manager to help him out and he couldn't read anything they gave to him. He told the bank manager on a few of these insurances that he didn't think they'd pay out but was told, don't worry these will.
After he retired he for some reason went to see his bank manager (he still had some running insurances with them) and told him he had all these insurances that were no good to him... they wouldn't pay out. The Manager took all the paperwork off him and told him, "Don't worry about it, leave these with me, i'll sort it out... if you hear anything from any of them just ignore it." :mad: My dad had a lot of things on his mind at the time and for some reason left said insurances.
Now all we have are his accounts and stacks of bank statements. These bank statements have loan payments and policy numbers and loads of insurance DD's on them and all kinds of different companies/policy numbers and we obviously have no idea what they were or any of the paperwork that went with any of them.
So my question really is what can we do, is there any way we can find out what these policy numbers are for? How do we go about it? Or have Lloyds & this dodgy bank manager managed to get away with ripping off & taking advantage of a disabled dyslexic man?
He wants to go to one of these no win no fee claim places but I'm loathe to do that since I believe someone else will be making money for nothing out of him.
Any advice or help gratefully received.
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Comments
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Why dont you think the protection policies would pay out?0
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Why dont you think the protection policies would pay out?
Because he was self employed & physically disabled. According to several places including the MSE check list these are both reasons the PPI may not have paid out... and since we no longer have any of the paperwork we can't check the specifics. Also since my dad couldn't read any of it he was entirely reliant on the bank manager who told him he needed this stuff.0 -
If he thinks they were missold, just write to Lloyds and tell them. Don't use a claims company, they don't do anything different to what you can do yourself.
Don't mention the "dodgy bank manager" or "taking advantage of a disabled dyslexic man" this won't help.
Stick to basics, just state why you think the policies were missold. A lot of policies did cover the self employed and being disabled wouldn't necessarily prevent cover either.0 -
If he thinks they were missold, just write to Lloyds and tell them. Don't use a claims company, they don't do anything different to what you can do yourself.
Don't mention the "dodgy bank manager" or "taking advantage of a disabled dyslexic man" this won't help.
Stick to basics, just state why you think the policies were missold. A lot of policies did cover the self employed and being disabled wouldn't necessarily prevent cover either.
So all I need is policy numbers of the loans? even if they're quite old? I don't need anything else?0 -
If they are pre 2005 then they didnt fall under the jurisdiction of the FSA so the companies cna reject your complaints on that basis if they wish.
Some policies covered self employed and physically disabled, the mse article is a bit over simple.
Your dad , realising he couldnt read the documents should have asked for an independant to read them for him, you for example or someone else.0 -
This is incorrect. The FSA does not exist any more (unless you mean the Food Standards Agency).If they are pre 2005 then they didnt fall under the jurisdiction of the FSA so the companies cna reject your complaints on that basis if they wish.
However HSBC (and Midland Bank before it) were members of the Banking Ombudsman scheme. Because of this, the Financial Ombudsman Service has jurisdiction back as far as 1986.0 -
magpiecottage wrote: »This is incorrect. The FSA does not exist any more (unless you mean the Food Standards Agency).
However HSBC (and Midland Bank before it) were members of the Banking Ombudsman scheme. Because of this, the Financial Ombudsman Service has jurisdiction back as far as 1986.
the FSA existed in 2005 when PPI came under their jurisdiction (now called the FCA).
The FOS might have some guidance for them but they would not be liable for a penalty under FSA/FCA.0 -
He wants to go to one of these no win no fee claim places but I'm loathe to do that since I believe someone else will be making money for nothing out of him.
Follow these steps, don't bother aksing for any T&Cs, download and fill in the form and send it off.
Mention he was physically disable which prevented him for being able to claim on any physical ailment, that he was dyslexic and so didn't fully understand the forms, nor exactly hat the insurance covered.
If he did have a series of loans, they more than likely had single premium insurance which was never fully explained to him.
You also need account or loan numbers, you do not need PPI policy numbers.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insuranceNon me fac calcitrare tuum culi0 -
Follow these steps, don't bother aksing for any T&Cs, download and fill in the form and send it off.
Mention he was physically disable which prevented him for being able to claim on any physical ailment, that he was dyslexic and so didn't fully understand the forms, nor exactly hat the insurance covered.
If he did have a series of loans, they more than likely had single premium insurance which was never fully explained to him.
You also need account or loan numbers, you do not need PPI policy numbers.
Thank you. This is what I needed to know.0 -
is this a new thing? Lloyds subscribed to GISC and banking code and are under FOS jurisdiction. The DISP rules retrospectively apply.If they are pre 2005 then they didnt fall under the jurisdiction of the FSA so the companies cna reject your complaints on that basis if they wish.0
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