Under 18 when loan was taken out, regards to ppi

spaniels_rule

Hi Everyone,
I recently put 3 claims for PPI, for 3 loans with LLoyds Bank.

One was upheld the other two were not.

One loan was in 1991 when I was 17, therefore under 18 at the time, should this be ilegal? with regards to the ppi and the loan?
This particular loan wasn't upheld.

Many Thanks In Advance

[Deleted User]

spaniels_rule wrote: »

One loan was in 1991 when I was 17, therefore under 18 at the time, should this be ilegal?

Making a fraudulent application? Yes, I believe so.

dunstonh

One loan was in 1991 when I was 17, therefore under 18 at the time, should this be ilegal?

No, it is not illegal to lend money to under 18s. it is just unenforceable in the courts should you not repay it.

That is unless you lied about your age. That would be unlawful as it is fraud.

sun73

spaniels_rule wrote: »

Hi Everyone,
I recently put 3 claims for PPI, for 3 loans with LLoyds Bank.

One was upheld the other two were not.

One loan was in 1991 when I was 17, therefore under 18 at the time, should this be ilegal? with regards to the ppi and the loan?
This particular loan wasn't upheld.

Many Thanks In Advance

What reasons did the lender give for not upholding your complaints about the two other loans?

spaniels_rule

Hi Sun73,

Basically, they are just using alot of words to say that I wasn't mis sold ppi on the other two loans, eg. I believe more likely than not that policy was explained etc, so they haven't actually looked at
any of my accounts.

Do I complain again about being 17 and having ppi, also that they are 'making up' reasons not to uphold.

Thanks Again

sun73

Don't complain about your age at the time as its not a valid reason. Have you still got the paperwork? If so, take a look at the credit agreement, does it show you paid the PPI premium at the start of the two loan? This is known as single upfront premium and a valid reason for mis-sale.


If you've still got the relevant bank statements do they show one direct debit (from LLoyds) per month or two separate direct debits?

WatchMan

sun73 wrote: »

Don't complain about your age at the time as its not a valid reason. Have you still got the paperwork? If so, take a look at the credit agreement, does it show you paid the PPI premium at the start of the two loan? This is known as single upfront premium and a valid reason for mis-sale.


If you've still got the relevant bank statements do they show one direct debit (from LLoyds) per month or two separate direct debits?

Many PPI policies required that the policy holder be aged 18+ at the time the policy was taken out. If this was the case, it is likely the OP did not meet the eligibility criteria.

As such, the OP's age is very relevant. It is also a very good complaint point. More so than the policy potentially being single premium.

CKhalvashi

WatchMan wrote: »

Many PPI policies required that the policy holder be aged 18+ at the time the policy was taken out. If this was the case, it is likely the OP did not meet the eligibility criteria.

As such, the OP's age is very relevant. It is also a very good complaint point. More so than the policy potentially being single premium.

Plus the fact that the PPI would have been useless anyway, as the debt was unenforcable through the courts had the OP failed to repay.

This would be a good point to try to argue (the under 18 bit) IMO.

dunstonh

The age thing is an issue to complain about unless the OP was close to 18 at the time of taking it out and the loan was for more than 12-18 months.

WatchMan

dunstonh wrote: »

The age thing is an issue to complain about unless the OP was close to 18 at the time of taking it out and the loan was for more than 12-18 months.

Well that depends upon what the policy states.

Many say that the person must be aged 18+ as of the policy start date.

wolverines

spaniels_rule wrote: »

Hi Sun73,

Basically, they are just using alot of words to say that I wasn't mis sold ppi on the other two loans, eg. I believe more likely than not that policy was explained etc, so they haven't actually looked at
any of my accounts.

Do I complain again about being 17 and having ppi, also that they are 'making up' reasons not to uphold.

Thanks Again

I would not read too much into the letter, it will not have been written by anyone and is either auto generated or from a template.

Being under 18 is a very valid complaint point as pretty much every policy booklet will require you to be over 18 to be eligible.

Problem is, there will be no documents or account records going back that far. Therefore, the 1991 start date if pulled from their records may be accurate, may be inaccurate or may be a generic date used for loans that they do not have a start date for.

Unless you can provide documentary proof that the loan was taken out when you were 17 (a signed CCA would be ideal....) I reckon they are simply taking it that the start date is wrong and that you will have been 18 when the loan was taken.