Name of bank to claim??

edited 30 November -1 at 1:00AM in Reclaim Bank & Credit Card Charges
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November2November2 Forumite
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My Father is a TSB customer however his loan paperwork from 1997 is when they were taken over and known as Lloyds TSB. Is the claim for PPI made to Lloyds Bank? I'm also a bit confused re the misselling bit, how do you prove it was missold if you can't remember what was said or why it was added.

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  • societys_childsocietys_child Forumite
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    Complain to Lloyds, but if you or your father can't remember anything, what would your complaint be?
  • November2November2 Forumite
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    Thank you for taking time to reply. But that's me point, how can anyone recall what was said years ago when they took out a loan? How can anyone prove they were missold ppi? My father can't recall anything about the terms or what was said. I do know he seemed to be paying it off forever and when he showed me his monthly statement and asked me why the amount didn't seem to be going down I made him go to the bank as the amounts and figures made no sense. He was then informed he only actually owed a pittance and what he was paying every month was just interest and they got him to pay it off there and then to close the loan.

    Martin says don't use a company to claim but it all seems too complicated not to. Any advice appreciated.
  • edited 19 September 2017 at 4:38PM
    societys_childsocietys_child Forumite
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    edited 19 September 2017 at 4:38PM
    Just paying the interest each month and not paying down the loan, would obviously take for ever, it shouldn't have been a large amount if he only owed "a pittance", but it doesn't sound like it has anything to do with ppi?
    Interest is not PPI.

    If you wish to make a complaint about something, simply phone the bank, they will normally take your complaint (whatever it is about) there and then (or send you some forms to fill in)
    Don't use a claim company, they can't do anything you can't do yourself, for free.
  • dunstonhdunstonh Forumite
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    how can anyone recall what was said years ago when they took out a loan?

    Not many people can. Which is why so few complaints succeed on the basis of recollection or opinion of what may have been said decades ago.
    I do know he seemed to be paying it off forever and when he showed me his monthly statement and asked me why the amount didn't seem to be going down I made him go to the bank as the amounts and figures made no sense. He was then informed he only actually owed a pittance and what he was paying every month was just interest and they got him to pay it off there and then to close the loan.

    This doesnt sound like a personal loan. lloydsTSB personal loans were repayment only and to a maximum of 5 years. This sounds more like a mortgage or a secured loan that was interest only.

    However, not of that indicates there was a PPI policy? For example, LloydsTSB never retailed PPI built into their mortgage/secured loans. If people did have MPPI, then it was monthly premium standalone direct debit.
    Martin says don't use a company to claim but it all seems too complicated not to. Any advice appreciated.

    A claims company wont know if he had PPI or not. From what you say, it doesnt appear clear he had PPI. So, use a claims company wont make things easier.

    So, did he have PPI?
    If so, was it missold?
    (remember that most secured loan/mortgage PPI was not missold).
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • November2November2 Forumite
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    Sorry seem to have confused everyone, yes he had ppi as I have his loan paperwork which shows the ppi payment amount. He originally took out a loan with TSB in 1997 which had no ppi, this was to be paid over 48 months. In 1999 I have new paperwork from Lloyds TSB and it appears to be the same loan revised as it has the same loan account number and it states 'to repay existing liabilities', this time it has ppi added.
    My Father is now in his 80's, I've worked out he would have been retired from his full time job and claiming pension when he took out the loan, he also worked a couple hours each day with a part time job during that time. He has no clue whatsoever why it was added, he didn't even know what ppi stood for when I asked him.

    Regards paying off the loan, it was all very odd as he was paying the amount shown on his statement every month as the amount due, he was not choosing a lesser amount, it wasn't until he queried it that he discovered he only owed a couple of hundred pound and was paying just interest every month, his balance never went down.
  • [Deleted User][Deleted User] Forumite
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    November2 wrote: »
    Regards paying off the loan, it was all very odd as he was paying the amount shown on his statement every month as the amount due, he was not choosing a lesser amount, it wasn't until he queried it that he discovered he only owed a couple of hundred pound and was paying just interest every month, his balance never went down.
    Could this have been a "Flexi-loan" for which he could choose to pay a minimum amount which would only cover interest perhaps? If so, that is not reason for complaint.

    Regardless, you are losing sight of the valid complaint you might make that your father was apparently already retired when the PPI was added and so did not need the insurance.

    The "fly in the ointment" is that he may have chosen himself to purchase the PPI when the loan was refinanced. If the Bank's documentation shows he bought rather than was sold PPI, then of course that trumps his memory twenty years after the event.
  • November2November2 Forumite
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    Ok, now I'm totally confused. I can't see how anyone can make a ppi claim, as no one can possibly remember a conversation from years back and so make a valid claim that they were missold ppi? How are people making successful claims?

    I'm going to fill in Martin's form and see what happens, I guess my father's age when the loan was taken out will be my basis of complaint.
  • dunstonhdunstonh Forumite
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    Ok, now I'm totally confused. I can't see how anyone can make a ppi claim, as no one can possibly remember a conversation from years back and so make a valid claim that they were missold ppi? How are people making successful claims?

    You are not expected to remember a conversation. There is not expected to be any evidence of a conversation. That is why allegations that are purely about conversations rarely succeed on that particular point.

    Most complaints succeed on the basis of what the available evidence points towards a wrongdoing. i.e. not being eligible for cover or a structural failing in the product that would have made it difficult or impossible to be paid out on. e.g. being too old at the point of sale.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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