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Very old ppi claim
swinterton
Posts: 25 Forumite
Hi guys, need some advice on where and what to do next on my fathers pip claim.
The claim relates to a TSB 40,000 pound business loan my father started in approx 1991.
We have the account no from old 1994/95 bank statements showing he was paying about 500/600 per month for the loan.
At first Lloyd’s stated that they could not locate the loan, then they said they located the loan account but no proof/record of pip.
So I did a SAR, (of this site)they have just sent back the checks stating they do not keep records this long and they can find nothing.
Is the standard of proof on me to prove the existence of PPI or is it for them to prove there was not.
What’s my next step please.....Thanks in advance for any help and advice
The claim relates to a TSB 40,000 pound business loan my father started in approx 1991.
We have the account no from old 1994/95 bank statements showing he was paying about 500/600 per month for the loan.
At first Lloyd’s stated that they could not locate the loan, then they said they located the loan account but no proof/record of pip.
So I did a SAR, (of this site)they have just sent back the checks stating they do not keep records this long and they can find nothing.
Is the standard of proof on me to prove the existence of PPI or is it for them to prove there was not.
What’s my next step please.....Thanks in advance for any help and advice
uncle buck
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Comments
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You're the one making the complaint - so if you can't prove there is PPI and that it was mis sold, it's going nowhere.0
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Oh okay thank you’ for you quick reply
What about the returned SAR, I asked for all info and if info had been destroyed details of such time dates etc ..... is it reasonable for them to return cheques without the info I asked for.uncle buck0 -
Is the standard of proof on me to prove the existence of PPI or is it for them to prove there was not.
Logically, proof of existence is required. Not proof of non-existence. The latter would be daft. Logic wins in this case thankfullyWhat!!!8217;s my next step please
Game over unless your father has records.What about the returned SAR, I asked for all info and if info had been destroyed details of such time dates etc ..... is it reasonable for them to return cheques without the info I asked for.
You have no legal right to request such things. There is no requirement for dates/times of destruction to be recorded and given to you.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.0 -
It's unusual, but very kind of them if they know they don't have data that old, which they shouldn't.0
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Only record we have is that loan and account existed, and my father remembering the term ppi being mention and written somwhere, but no written proof of this.
But that’s shame looks like we will have to let this one gouncle buck0 -
I thought ppi wasnt applied to business loans.
Quite happy to be enlightenedmake the most of it, we are only here for the weekend.
and we will never, ever return.0 -
A "memory" from 27 years ago is easily trumped by the Bank's records I'm afraid. You'd need comprehensive documentary proof that the "PPI" was paid and you'd also need to show it was somehow mis-sold.swinterton wrote: »Only record we have is that loan and account existed, and my father remembering the term ppi being mention and written somwhere
As above, it's also very unlikely that any insurance on a Business Loan was PPI.
I think you'll need to forget about this one...0 -
Moneyineptitude wrote: »A "memory" from 27 years ago is easily trumped by the Bank's records I'm afraid.
Yes I know’ it’s not much use in law.... but the bank has no record to easily trump this.
Very interested in the business loan/ppi if others have info on this to be correct, it would at least help my father feel betteruncle buck0 -
swinterton wrote: »
Yes I know!!!8217; it!!!8217;s not much use in law.... but the bank has no record to easily trump this.
Very interested in the business loan/ppi if others have info on this to be correct, it would at least help my father feel better
The bank doesn't need a record, you are alleging something, you have to provide the proof (whether in the form of old paperwork, bank records of payment etc). It's like me saying you owe me £50 and expecting you to show I don't.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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Yes I know!!!8217; it!!!8217;s not much use in law.... but the bank has no record to easily trump this.
And no record at all either way trumps all of it.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.0
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