PPI on business loan

kilowhat

Goodday to all,

Please i need guidance/advice on how to go with this PPI claim.
I took out a business loan from Lloyds in 2002 ( for £10,000).I paid back completely in 2007.Am almost certain there was a PPI on it.But i dont have any account number/sortcode to hand anymore.And the company has seized operation.How do i construct the letter demanding for all PPI back please;);)

Regards
kilowhat

Insider101

kilowhat wrote: »

Goodday to all,

Please i need guidance/advice on how to go with this PPI claim.
I took out a business loan from Lloyds in 2002 ( for £10,000).I paid back completely in 2007.Am almost certain there was a PPI on it.But i dont have any account number/sortcode to hand anymore.And the company has seized operation.How do i construct the letter demanding for all PPI back please;);)

Regards
kilowhat

You just state what you think has been done wrong, when and by who.

[Deleted User]

kilowhat wrote: »

Am almost certain there was a PPI on it.

How do i construct the letter demanding for all PPI back please;);)

Before you do any "demanding", I'd be sure you actually had the insurance. In the first instance, contact Lloyds and ask them if there was PPI on the loan.

Insider101

Moneyineptitude wrote: »

Before you do any "demanding", I'd be sure you actually had the insurance. In the first instance, contact Lloyds and ask them if there was PPI on the loan.

Even if there was, it is not somehow wrong to have PPI, especially for business loans which was generally regular premium. If I was the OP I would not go trying to "demand" anything which risks getting their backs up and you getting told to naff off. Instead I would construct a politely worded letter explaining why you feel wronged and making a reasonable request.

Do you actually believe you've been wronged or have you just decided you want your money back because other people have had it?

antrobus

kilowhat wrote: »

...And the company has seized operation.....

I believe that might be the key sentence.

kilowhat wrote: »

....How do i construct the letter demanding for all PPI back please....

When you say that the "company has seized operation", are you indeed saying that the business loan was made to a limited company that no longer exists?

kilowhat

Insider101 wrote: »

You just state what you think has been done wrong, when and by who.

Many thankx,i will give it a go and here there response.It sure was just added as when there was struggle payment from my side,i was even charged for late payments etc.

-taff

Has the company ceased operation? Because if it has, your complaint is going to go nowhere, because there's no-one to pay any redress to.

kilowhat

antrobus wrote: »

I believe that might be the key sentence.



When you say that the "company has seized operation", are you indeed saying that the business loan was made to a limited company that no longer exists?

Yes,that is the case.
Plus at a later stage towards the last few repayments,i was genuinely struggling as i couldnt get a decent job.Lloyds were not really helpful but only maintained i
neede to make my payments.Plus they declined my mortgage application then that i had outstanding debt.Surely the PPI should have been used i believe...please advice further

kilowhat

Insider101 wrote: »

Even if there was, it is not somehow wrong to have PPI, especially for business loans which was generally regular premium. If I was the OP I would not go trying to "demand" anything which risks getting their backs up and you getting told to naff off. Instead I would construct a politely worded letter explaining why you feel wronged and making a reasonable request.

Do you actually believe you've been wronged or have you just decided you want your money back because other people have had it?

Okay..i see your point and am not just trying to be an oppotunist.
I actually feel the PPI should have been used when i had financial problems struggling to make payments back towards the last year.i wrote and called up lloyds several times then,but didnt get any joy.Lloyds only insisted i maintained payments accordingly and even declined my motgage application as i had outstanding debt with them then.
Only to further offer me a platinum credit card,which i am still struggling with to date.
Do you see my point pls

kilowhat

Moneyineptitude wrote: »

Before you do any "demanding", I'd be sure you actually had the insurance. In the first instance, contact Lloyds and ask them if there was PPI on the loan.

Do you think i will could be told its over 6 years so they are not deemed to furnish us with it.As they dont have it in there records anymore.

DevCoder

You are missing the point, if the limited company has been wound up (or ceased trading) then there is no claim. It's dead in the water.

They might well say that as its over 6 years they hold no records, but some banks hold for more than that (some as much as 100 years if they also do trust business).

Why didn't the PPI cover you? What did Lloyds state for the reason?