Disolved Company & PPI

londonpilot

Has anyone made a successful PPI claim after dissolving a limited company? I was sold PPI on a business loan, and later I sold the business and then dissolved the company. Lloyds previously refused my complaint on the basis that the company had been dissolved. I submitted my complaint to LLoyds 7 weeks ago but I have still yet to hear back from them. I am planning to contact the Ombudsman once they refuse my complaint.

It would be great to hear from anyone that has tackled this issue and whether you were successful or not.

Thanks

-taff

If there is PPI redress, if the complaint is upheld, it can only be paid to the company, not to you, if the PPI was taken out by the company. If the company is dissolved, you would either have to start it up again, or forfeit the payment.

SonOf

Has anyone made a successful PPI claim after dissolving a limited company?

Yes they have. However, it incurs costs and the costs may outweigh the benefit.

Lloyds previously refused my complaint on the basis that the company had been dissolved.

That is correct. The legal entity has to make the complaint and you as an individual have nothing to do with the legal entity any more.

If you are successful in your complaint, it will be paid to the limited company. Not you. You will need to reopen the company at companies house. You will also need to open bank accounts and inform HMRC as the redress payment would be seen as profit and subject to corporation tax.