PPI Reclaim issue

tibbz2000

Hello all, I am looking for some help with regards to my Fathers PPI Claim the details are as follows;
Back in the late 90's, my father set up business on his own and required a loan to assist him, Barclays agreed to this but only on the basis that he took out PPI. To complicate matters they would only give him a personal loan but the PPI would be in the business name?.
Having made a PPI claim via the Ombudsman he has been told that he never took out PPI and it seems the Ombudsman is not interested in taking it further, Barclays also have "no records". My father on the other hand has all the records but interestingly enough the PPI the bank had insisted on in order to agree the loan is taken out through the business account as life insurance?. My father never took out life insurance with them and definitely had PPI in fact he already had life insurance elsewhere.

My question is has anyone heard of this situation before?

I am confident they have scammed him in someway but does he have a leg to stand on?

If anyone can assist we would of course be very grateful as we would like to resolve that matter ourselves although it seems a no win no fee solicitor may be his last option.

[Deleted User]

tibbz2000 wrote: »

My father on the other hand has all the records but interestingly enough the PPI the bank had insisted on in order to agree the loan is taken out through the business account as life insurance?. My father never took out life insurance with them and definitely had PPI in fact he already had life insurance elsewhere.

Very clearly what you determined to be PPI was Life Insurance.
Life insurance is not PPI, you cannot make a PPI complaint about Life Insurance.

The Bank have told you there was no PPI and the Ombudsman has obviously agreed.

You could make a separate complaint about the Life Insurance on the basis that your father already had another policy, but how are you going to show it was otherwise mis-sold?

tibbz2000 wrote: »

I am confident they have scammed him in someway

You have to realise that it is not somehow "wrong" to have insurance. In order to have a policy refunded, it is the manner it was sold to you that must be incorrect -not the product itself.

tibbz2000 wrote: »

it seems a no win no fee solicitor may be his last option.

A solicitor can't help in your circumstance, you are simply reliant on the Bank agreeing to refund the life insurance because it was a duplicate of a policy already held.

Your father did not have PPI. He was not "scammed". He is unlikely to get any further with this "complaint".

Insider101

tibbz2000 wrote: »

Hello all, I am looking for some help with regards to my Fathers PPI Claim the details are as follows;
Back in the late 90's, my father set up business on his own and required a loan to assist him, Barclays agreed to this but only on the basis that he took out PPI. To complicate matters they would only give him a personal loan but the PPI would be in the business name?.
Having made a PPI claim via the Ombudsman he has been told that he never took out PPI and it seems the Ombudsman is not interested in taking it further, Barclays also have "no records". My father on the other hand has all the records but interestingly enough the PPI the bank had insisted on in order to agree the loan is taken out through the business account as life insurance?. My father never took out life insurance with them and definitely had PPI in fact he already had life insurance elsewhere.

My question is has anyone heard of this situation before?

I am confident they have scammed him in someway but does he have a leg to stand on?

If anyone can assist we would of course be very grateful as we would like to resolve that matter ourselves although it seems a no win no fee solicitor may be his last option.

You can't get PPI or life cover in a business name. All health or life related cover insures a named individual. Not a corporate entity.

I might be missing something here but from what you've said the situation seems pretty clear cut. The insurance they insisted he take out in order to get the loan, which you though was PPI, was in fact life cover. It doesn't look like any kind of scam to me.

Insider101

Moneyineptitude wrote: »

Very clearly what you determined to be PPI was Life Insurance.
Life insurance is not PPI, you cannot make a PPI complaint about Life Insurance.

The Bank have told you there was no PPI and the Ombudsman has obviously agreed.

You could make a separate complaint about the Life Insurance on the basis that your father already had another policy, but how are you going to show it was otherwise mis-sold?



You have to realise that it is not somehow "wrong" to have insurance. In order to have a policy refunded, it is the manner it was sold to you that must be incorrect -not the product itself.

A solicitor can't help in your circumstance, you are simply reliant on the Bank agreeing to refund the life insurance because it was a duplicate of a policy already held.

Your father did not have PPI. He was not "scammed". He is unlikely to get any further with this "complaint".

Already having cover is of no real relevance. This was presumably to repay his mortgage or provide for his family in the event of anything unpleasant occurring. By taking out a loan for business purposes he is taking in a whole new liability and it is this that the bank wanted the insurance to be taken out to cover.

[Deleted User]

Insider101 wrote: »

Already having cover is of no real relevance.

I did say the chances of such a complaint being upheld are slim.

tibbz2000

I think I must not have explained this correctly, my father did not take out life insurance with the bank. He had no documents given to him relating to life insurance, as far as i'm aware you have to request life insurance in order to receive it?.

What he was told when taking out his loan is the only way he could get a loan was by agreeing to PPI but the bank would only give him a personal loan but wanted to take the payment protection insurance (their words not his) from his business account. The only reason life insurance has been brought up is this is the description given on all his statements. I can confirm their was no life insurance my father agreed to PPI otherwise they would not have given him the loan.

[Deleted User]

tibbz2000 wrote: »

The only reason life insurance has been brought up is this is the description given on all his statements.

If it says "Life insurance" on his statements then that is indeed what he purchased. How can it be Payment protection Insurance if it says Life Insurance?
If his statements say Life Insurance, the Bank say he didn't have PPI and the Ombudsman accept this then you have nowhere left to go.

If you want to employ a solicitor good luck finding one who will take on a case with no documentary evidence.

tibbz2000 wrote: »

I am confident they have scammed him in someway

I am just as confident that they haven't.

dunstonh

I think I must not have explained this correctly, my father did not take out life insurance with the bank. He had no documents given to him relating to life insurance, as far as i'm aware you have to request life insurance in order to receive it?.

Life assurance is issued by life assurance companies. PPI is issued by general insurance companies.

What he was told when taking out his loan is the only way he could get a loan was by agreeing to PPI but the bank would only give him a personal loan but wanted to take the payment protection insurance (their words not his) from his business account.

Bank loan PPI products are built into the loan. Not standalone (apart from MPPI). So, that coupled with the fact it says life assurance would indicate it is not PPI.

-taff

tibbz2000 wrote: »

as far as i'm aware you have to request life insurance in order to receive it?. .

no, the bank can insist on it in certain circumstances

tibbz2000 wrote: »

The only reason life insurance has been brought up is this is the description given on all his statements.

If it says life insurance on the tin......