Would be interested to know .....

goodmorningsunshine

Very complicated - please bear with me.

Has anyone financed a purchase through a finance company, only years later find out they were paying PPI (which they were not told about or actually qualified for) due to the conditions you must meet when taking out the finance.

Then as you start enquiring about the PPI refund, the person died.

The amount outstanding is then cleared off.

Does anyone know if this amount was cleared off due to the PPI or because the person is no longer here to pay?

There is lots more to this story but hope I have given all the facts needed.

Insider101

goodmorningsunshine wrote: »

Very complicated - please bear with me.

Has anyone financed a purchase through a finance company, only years later find out they were paying PPI (which they were not told about or actually qualified for) due to the conditions you must meet when taking out the finance.

Then as you start enquiring about the PPI refund, the person died.

The amount outstanding is then cleared off.

Does anyone know if this amount was cleared off due to the PPI or because the person is no longer here to pay?

There is lots more to this story but hope I have given all the facts needed.

Not really.

Who was it that took out the car finance and the PPI? Was it you or was it the deceased person? And who started asking about a refund?

Normally you would have to actually make a claim on the policy ( or the executors of the estate would) in order for the amount to be paid off. Otherwise the debt would be enforceable against the deceased's estate.

Also, if the person was actually ineligible for the cover (which I assume is what you mean by didn't qualify) then they ( or their executors) would never be able to claim on it.

Bit more info needed really.

goodmorningsunshine

Thanks for your interest Insider 101.

It was my dad who took out the finance for double glazing (who mentioned a car?) and due to my dads illness, my mum told me that they were nearly finished paying the glazing.

I asked to look at the paperwork, only to my horror to find they had yet ANOTHER 5 years to pay, I looked into this PPI thing, and found my dad was not eligible, they didn't even know they had it - was just added on to the monthly payments.

At this point my dad was still with us, so I started to look into the mis-selling of the PPI. Never actually spoke to any company about it, as my dad took a turn for the worse, so we had other priorities at that time, it went on the back burner.

When my dad passed away, I phoned the company and informed them, next thing I remember was the debt was cleared - no more to pay. (Although can I just add that they had already paid 5,000 pounds for 2 YES 2 double glazed windows - just your average size) Grrrrrr. AND they were only half way through paying!!!

We were never asked for any more monies (well they still took a payment after my dad passed away), so it must have been the PPI payout that cleared the loan.

Hmmm, have I just answered my own question?

Insider101

Quite possibly. Sorry, just assumed when you mentioned finance that it was the car variety as its very rare to have PPI sold with anything else. Also sorry to hear about your father.

It seems like a very odd set of circumstances. Firstly, they would not normally just take verbal advice of the death, most companies would insist on seeing the death certificate. How did you find out the debt was cleared?

Also, what were your reasons for believing your father was ineligible? If this was literally the case then the cover would never have paid anything on his account.

If this is the case then depending on how much the PPI cost in the first place and how much the balance was when the loan was cleared, it may be better to let sleeping dogs lie. The reason being that if you were awarded any reimbursement then it is standard practice to deduct any amounts paid out in claims. So if the amount paid off by the PPI was greater than the cost of it you would get nothing anyway.

goodmorningsunshine

Well when I said complicated - I meant odd.

And maybe I have opened up a new door - people who were sold double glazing on finance should maybe look at their policy !?!

The company did contact my dad's GP, so would have got confirmation - presumably to check previous medical conditions - they are NOT covered.

Along with the fact my dad had been retired for 10 plus years - would also have made the policy null and void.

As for the balance - well a joke really - whoever heard of paying
10,000 for 2 windows. They paid 5,000 so still had another 5 years and 5,000 to pay.

And who says salesmen are sharks ... Watch out for the Double Glazing salesmen.

I will take your advice and leave well alone, but its good to know that someone was given(?) a policy without their knowledge that they shouldn't have had and they have paid out.!?!

I'm still a bit confused.

Insider101

Ah right, makes a bit more sense now. It could be that as your father was retired he could never have claimed on the accident sickness or unemployment part of the cover. However, assuming the policy included life cover, obviously you don't need to be employed to have that. I'd maybe contact them and ask.

As regards salesmen being sharks, in other news the Pope is catholic!!!