Building Society are asking for pointless info

chris3

I recently applied to Nationwide for a PPI reclaim. They sent me the standard form then 2 weeks later they sent me a letter asking for information about whether I had any staff in my business and if I owned the building or business itself. What has that got to do with them? Is this normal?

[Deleted User]

They can ask for any pertinent information. If this is not pertinent to your complaint then you can decline to answer.

What sort of PPI complaint have you made if they want to know your Business affairs? Business loans didn't have PPI, more likely Income Protection which was often mandatory.

roonaldo

There isnt such thing as an application for a PPI reclaim.

chris3

It was a personal loan, that's why I'm confused why they want to know about my old business details which I sold after I paid back the loan over 13 years ago.

[Deleted User]

chris3 wrote: »

It was a personal loan, that's why I'm confused why they want to know about my old business details which I sold after I paid back the loan over 13 years ago.

Odd that they've somehow linked your business dealings (did you also hold a business account with them?) to a personal loan PPI complaint.

Have you actually asked them why they want to know these details?

dunstonh

That is not pointless information. it is checking whether there was a financial need. These sorts of questions get ask if your allegations suggest you were not eligible or had no financial need.

asking for information about whether I had any staff in my business and if I owned the building or business itself. What has that got to do with them? Is this normal?

They want to find out if you were a "key man" worker or not. A very common question when looking at protection for someone in that situation.

I'm confused why they want to know about my old business details which I sold after I paid back the loan over 13 years ago.

it is point of sale of the PPI that matters. Not later events.

roonaldo

I think what they may be getting at is to find out whether it was suitable for your circumstances and if you ever could have claimed on the unemployment part of the policy. To claim unemployment the business needs to be wound up involuntarily ie go bust. Not just close the business due to a lack of work.

E.g. Say you were a self-employed hair dresser, if you were a sole trader with no employees and no outgoings if there was downturn in business it would be hard to involuntarily cease trading ie go bust, so hard to claim.

But, if you were a self-employed hair dresser who owned a shop with 5 employees and there was a downturn in business, you would probably go bust and the business wound up, hence you could make a claim.

I'm pretty sure thats the sort of reasoning behind it. Hope that makes sense.

chris3

Thanks for all your replies. I was sick several times during the time I had the loan but being self employed couldn't afford to take the time off as is the case for many self employed people so I think the insurance was pointless.

roonaldo

chris3 wrote: »

Thanks for all your replies. I was sick several times during the time I had the loan but being self employed couldn't afford to take the time off as is the case for many self employed people so I think the insurance was pointless.

PPI covers sickness for self-employed just the same as it does for employed people. You say you couldnt afford to take time off, but thats what the PPI is for!!!!