Joint account ppi

Mr_Tumble

I was not paid PPI compensation on a loan which I had jointly with my ex as he was the principle, even though we both paid the monthly loan debt which would have included the PPI payments and I was jointly liable for the loan payments. I have since heard that banks are in discussions with a claims agent who is questioning the banks actions. The banks don't want to open this can of worms as they would have to recalculate old PPI offers and offer money to joint policy holders like myself.

dunstonh

was not paid PPI compensation on a loan which I had jointly with my ex as he was the principle,

Banks dont have loans with a principle. You either have a sole loan or a joint loan. Most banks personal loans are sole. The payment may come from a joint account though (not that it matters)

I have since heard that banks are in discussions with a claims agent who is questioning the banks actions.

Banks dont get into discussions with claims companies. Its the FCA that drives outcomes.

The banks don't want to open this can of worms as they would have to recalculate old PPI offers and offer money to joint policy holders like myself.

no they wouldnt as the standard action on joint PPi is that the refund is 50/50.

[Deleted User]

dunstonh wrote: »

Banks dont have loans with a principle. You either have a sole loan or a joint loan.

It sounds like the PPI refund was denied the OP due to the policy being in his partner's sole name. How equally they paid the loan would be irrelevant in that circumstance.

No Bank is in discussions with a Claims Firm. Claims Firms don't "question", they just charge exorbitantly for their "services"