Under 18 when loan was taken out, regards to ppi

sun73

Thank you Watchman, Wolverines and others for pointing out the age stipulation on lending. I was following Dunstonh's comments about it not being illegal to lend to under 18's. As you say it depends what is written in the policy booklet and why we should all read the small print.

dunstonh

Dont mix up the loan and PPI. It is legal to loan to under 18s. It would be wrong to sell PPI to under 18s unless you were shortly to be 18 and your policy covered you at point of claim (ie. are you 18 at claim) and not point of sale.

spaniels_rule

Thank you all for your replies!

I phoned Lloyds ppi helpline, they say the loan was taken out in June 1991.

I wasn't 18 until January 1992.

Would I need to send of for a SAR, to get a credit agreement?

Thanks again

dunstonh

Would I need to send of for a SAR, to get a credit agreement?

You dont need the agreement. That is for people who dont know if they had PPI and dont want to ask the bank in normal ways.

spaniels_rule

Thanks Dunstonh

So have I grounds to appeal LLoyds decision, to not uphold the loan?
for being under 18?

LABMAN

spaniels_rule wrote: »

Thanks Dunstonh

So have I grounds to appeal LLoyds decision, to not uphold the loan?
for being under 18?

Did you commit fraud to get the loan?

spaniels_rule

Can anyone be of assistance regarding the helpful posts?

shall I complain, as I have 14 days to reply if i don't agree with Lloyds decision.

Thanks Again

tizerbelle

Advice will depend on the answer to the question you keep avoiding.

Did you lie about your age to get this loan?

spaniels_rule

Hi,

I am not avoiding the question, I was 17 at the time of the loan as I said in my earlier posts.

tizerbelle

We know you were 17, you've told us that, but we are asking about the actual loan application.

Did you put your real date of birth on the loan application form or did you use a made-up date of birth?