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PPI Lloyds Claim and Bereavement
Apathy
Posts: 107 Forumite
Hi there. My dad had sent a ppi claim for his Lloyds mastercard he took out in 2004. He had paid it for 8 years. The claim was made in September, hoever unfortunately he passed away in early October this year. It was taken out in branch. The reason stated on the claim as to why he felt he was mis-sold and written on the claim was because:
1. He was told I had to in order to get the credit; ie. I wasn't given an option.
2. He was told when he queried why that the monthlu ppi cost would be included as 'standard'.
3 He was told it would have been more expensive had he not taken the ppi premium at the time.
4. he had saving of over £16,000 at the time.
5. He was self employed at the time.
6. He had Accident and sickness with a provider at the time. (value £20,000)
Now Lloyds have recently written back to him stating:
"Unfortunately I'm not currently in a position to provide you with a final response.
The FCA has indicated that it will implement additional rules and guidance for firms on how they should asses certain categories of complaints where the level of commission on the PPI policy was not disclosed. I understand that your complaint is likely to fall within one of these categories.
In order to help ensure that I assess your complaint fairly in accordance with regulatory standard, I need to wait for the additional rules and guidance to be implemented before I consider the remainder of your complaint. In August 2016, the FCA released a new consultation paper and stated that it anticipates its new rules and guidance will come into force at the end of March 2017, but this date is not confirmed. However, based on its recent announcement, we expect to receive the new rules and guidance towards the end of 2016.
|When I have considered your concerns in light of the FCA's new rules and guidance I will be able to provide you with a final response. The timetable for this is dependant on the FCA. The FCA will allow us a period of time to implement the new rules. We therefore expect to write to you with a final response in the Summer of 2017.
Based ion the information currently available to me, I do not believe your PPI policy was mis-sold. However the Financial Conduct Authority's additional rules and guidance are implemented, I will need to consider your complaint again, I light of those rules and guidance, before being able to provide you with a final response. I've set out below the current findings and conclusions on the parts of your complaint where I've been able to complete my investigation.
Lloyds current findings and conclusion.
I wanted to speak to you about your sale and your circumstances at the point of sale. This was to help me gain a better understanding of your recollection of what happened and anything which would have affected your decision to purchase the PPI policy. This includes key points such as checking your eligibility. the suitability of the policy fro you and the way it was sold to you.
In order to obtain this information, I tried to contact you several time and on more than one day I was unable to reach you. This means I've undertaken my review of your complaint based on the limited information available to me. If I had spoken with you and obtained the additional information, the outcome may have been different."
Now the obvious reason they wasn't able to contact him was because he died during all of this, and I didn't have control of his phone but I have not and heard the voicemail and messages, also they state they have limited information however I have copies of the claim/complaint and it clearly stated the 6 point I highlighted above.. I am his only child on the will and his estate and was present at the bank with him even though I was quite young at the time (15). Are they trying to delay things with this "implementation of rules", Should I contact the FCA or Lloyds first?
I haven't contacted Lloyds yet due to the grievance still. I'm just looking for advice based on the information given here please before I proceed to contact them. Also wondering now my dad's passed away how I should proceed and if Lloyds ask me direct questions, would I answer them in the 3rd person of him or what my dad would of told me and would the chances of success be smaller now he's died and can't give direct information from the 1st person? Thanks and if anybody needs any more information I will post and reply.
Much appreciated.
1. He was told I had to in order to get the credit; ie. I wasn't given an option.
2. He was told when he queried why that the monthlu ppi cost would be included as 'standard'.
3 He was told it would have been more expensive had he not taken the ppi premium at the time.
4. he had saving of over £16,000 at the time.
5. He was self employed at the time.
6. He had Accident and sickness with a provider at the time. (value £20,000)
Now Lloyds have recently written back to him stating:
"Unfortunately I'm not currently in a position to provide you with a final response.
The FCA has indicated that it will implement additional rules and guidance for firms on how they should asses certain categories of complaints where the level of commission on the PPI policy was not disclosed. I understand that your complaint is likely to fall within one of these categories.
In order to help ensure that I assess your complaint fairly in accordance with regulatory standard, I need to wait for the additional rules and guidance to be implemented before I consider the remainder of your complaint. In August 2016, the FCA released a new consultation paper and stated that it anticipates its new rules and guidance will come into force at the end of March 2017, but this date is not confirmed. However, based on its recent announcement, we expect to receive the new rules and guidance towards the end of 2016.
|When I have considered your concerns in light of the FCA's new rules and guidance I will be able to provide you with a final response. The timetable for this is dependant on the FCA. The FCA will allow us a period of time to implement the new rules. We therefore expect to write to you with a final response in the Summer of 2017.
Based ion the information currently available to me, I do not believe your PPI policy was mis-sold. However the Financial Conduct Authority's additional rules and guidance are implemented, I will need to consider your complaint again, I light of those rules and guidance, before being able to provide you with a final response. I've set out below the current findings and conclusions on the parts of your complaint where I've been able to complete my investigation.
Lloyds current findings and conclusion.
I wanted to speak to you about your sale and your circumstances at the point of sale. This was to help me gain a better understanding of your recollection of what happened and anything which would have affected your decision to purchase the PPI policy. This includes key points such as checking your eligibility. the suitability of the policy fro you and the way it was sold to you.
In order to obtain this information, I tried to contact you several time and on more than one day I was unable to reach you. This means I've undertaken my review of your complaint based on the limited information available to me. If I had spoken with you and obtained the additional information, the outcome may have been different."
Now the obvious reason they wasn't able to contact him was because he died during all of this, and I didn't have control of his phone but I have not and heard the voicemail and messages, also they state they have limited information however I have copies of the claim/complaint and it clearly stated the 6 point I highlighted above.. I am his only child on the will and his estate and was present at the bank with him even though I was quite young at the time (15). Are they trying to delay things with this "implementation of rules", Should I contact the FCA or Lloyds first?
I haven't contacted Lloyds yet due to the grievance still. I'm just looking for advice based on the information given here please before I proceed to contact them. Also wondering now my dad's passed away how I should proceed and if Lloyds ask me direct questions, would I answer them in the 3rd person of him or what my dad would of told me and would the chances of success be smaller now he's died and can't give direct information from the 1st person? Thanks and if anybody needs any more information I will post and reply.
Much appreciated.
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Comments
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Unfortunately as he has passed on you cannot use any such arguments beyond those he has already stated unless you were present during the sale. You can focus on facts (such as providing proof of his savings and his cover).
It sounds like they are referring to the Plevin ruling i.e. they believe he was not miss-sold but there was a high level of commission (over 50%) and they will be looking to refund the commission over that limit,
If you disagree with the rejection you should try and find out why they are not letting you refer it to the FOS as you normally have 6 months to do soSam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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The complaint has failed but is currently on hold pending Plevin. The OP will only be able to refer the complaint to the Ombudsman once a full and final response is issued. The six months will only begin once the final response is received.If you disagree with the rejection you should try and find out why they are not letting you refer it to the FOS as you normally have 6 months to do so
Not much the OP can do but wait. No point contacting the Bank, the FCA or anyone else for that matter....0 -
Moneyineptitude wrote: »The complaint has failed but is currently on hold pending Plevin. The OP will only be able to refer the complaint to the Ombudsman once a full and final response is issued. The six months will only begin once the final response is received.
Not much the OP can do but wait. No point contacting the Bank, the FCA or anyone else for that matter....
It seems a bit odd that the bank can reject it and refuse an appeal to the FOS on the grounds of Plevin - the whole point of the FOS is to escalate to if you disagree with the rejection. The bank is basically saying "you weren't miss-sold, you can't appeal that, here's £50 because someone charged you 52% commission"Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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The case (along with many others) is simply on hold.It seems a bit odd that the bank can reject it and refuse an appeal to the FOS on the grounds of Plevin - the whole point of the FOS is to escalate to if you disagree with the rejection. The bank is basically saying "you weren't miss-sold, you can't appeal that, here's £50 because someone charged you 52% commission"
As I said, once a full and final response is received, the OP will be free to refer to the Ombudsman.
The complaint looks to be very weak and hardly worth a FOS referral, but that's a separate issue.0 -
Hi thanks for the replies but i thought there were people claiming years after for example their husband dies successfully or is that not something i can persue? Also o guess i have to tell them now about his death, it cant do no harm and maybe they can resolve the case and yeah i was present even though i thought he had no option to opt out of ppi. Any other advice? Thanks.0
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Hi thanks for the replies but i thought there were people claiming years after for example their husband dies successfully or is that not something i can persue? Also o guess i have to tell them now about his death, it cant do no harm and maybe they can resolve the case and yeah i was present even though i thought he had no option to opt out of ppi. Any other advice? Thanks.
If you were present when the card was taken did you argue about the PPI being unnecessary? You can use the sort of he said/she said complaints if you were there though they won't amount to much.
If he had £16000 in savings why wasn't he paying off his balance in full every month and thus avoiding paying interest?Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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Moneyineptitude wrote: »The case (along with many others) is simply on hold.
As I said, once a full and final response is received, the OP will be free to refer to the Ombudsman.
The complaint looks to be very weak and hardly worth a FOS referral, but that's a separate issue.
Stupid rule that, should be able to refer to FOS after rejection immediately, odd too they talk about Plevin given it was taken out in a branch so unlikely there was a sale with commission given the staff worked for the bank and wouldn't have been on commission for something like a credit cardSam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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Your late father has already complained. There is no point in you attempting to make a separate complaint about the same thing. As above, once a "full and final" response is received from the Bank you (or other next of kin) will be able to refer the rejected complaint to the ombudsman on behalf of your father.i thought there were people claiming years after for example their husband dies successfully or is that not something i can persue?
There is little point telling the Bank your father has since died, as it seems likely he no longer held an active account with them at the time of his complaint. Wait for the rejection letter and take it from there...
Since the OP was just 15 at the time, I doubt he would have had any influenceIf you were present when the card was taken did you argue about the PPI being unnecessary?0 -
Stupid rule that, should be able to refer to FOS after rejection immediately, odd too they talk about Plevin given it was taken out in a branch so unlikely there was a sale with commission given the staff worked for the bank and wouldn't have been on commission for something like a credit card
The Supreme Court ruling refers to the commission paid to intermediaries out of the PPI premium before it reached the insurer. It was the non-disclosure of the commission payable (71.8% was taken in commission) that made the relationship between Mrs Plevin and Paragon unfair within the meaning of section 140A CCA not the “commission” paid to front line bank staff as part of an incentive scheme.0 -
The Supreme Court ruling refers to the commission paid to intermediaries out of the PPI premium before it reached the insurer. It was the non-disclosure of the commission payable (71.8% was taken in commission) that made the relationship between Mrs Plevin and Paragon unfair within the meaning of section 140A CCA not the “commission” paid to front line bank staff as part of an incentive scheme.
Which is fine and I'm well aware of the case, the point is that the bank are basically rejecting an in branch PPI miss-sale but blocking referral to the FOS on the basis of Plevin which seems unlikely to apply here - would a bank staff member really be on 50%+ commission (or indeed any at all) to get people to sign up for PPI?Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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