Lloyds MIS-SELLING admission.

[TheFamousCash]

Llyods admitted mis-selling my son various services. He received full repayment and token compensation.

HOWEVER, they do NOT admit mis-selling £12,5000 loans and overdraft.

The corrupt Ombudsman is trying to let them get away with it, even although they admit my son is not fit to sign such documents. (Also, they have a legal document in their possession which shows I am responsible for my son's financial transactions and they took advantage of my son behind my back. I was not even informed this was going on.)

Question is, with no power to force Ombudsman to give correct decision, how do I take them to court? Not sufficient finance.

[leclerc]

Re: Lloyds MIS-SELLING admission.

You need to explain a bit more. The second sentence you have written says: "He received full repayment and token compensation."

You mention £12500 in loans and overdrafts.

Need a lot more information to know what we are talking about....

[TheFamousCash]

Re: Lloyds MIS-SELLING admission.

They mis-sold him various insurances. Even when life insurances came back with an additional loading of 75% because of his physical problems they went ahead.


They also gave him a £1,000 loan then a second loan to "pay off" the first and a third to "pay off the second". They charge him fess for the loans, charges for overdraft and charges for unauthorised overdraft. The loans now stand aroung £12,500. MY son knows he owes the bank "a lot of money" but believes he is going to prison because of this and I cannot get him to change his mind. We have noth been highly stressed for nearly a year now.

I have a document signed by my son stating that I have control over "any and all" of his financial transactions. The bank firstly denied having a copy but I proved them to be lying when I produced letters regarding and unrelated complaint some years ago showing they had it. They then claimed because it was not a registered Power of attorney they would not recognise it.

Following the original complaint, I had received apologies and assurances my son could never be overdrawn again so I let him withdraw monies as he deemed fit, happy in the knowledge he could not get into financial difficulties and lent him money sometimes to tide him over until payday. (He works for civil service in mail room as a registered disabled employee.)

By chance I found a scrap of paper on my son's floor bearing an amount and "DD". After much interrogation, found the bank had been abusing him for some time. They (again) did not get my authority. I was completely unaware they were targeting him as a vulnerable person. His learning difficulties prevent him from understanding the basics of finance and he is unable to comprehend simple documents.


I immediately wenr into the branch. Interestingly, the staff member with who I spoke claimed she could not discuss his account because they did not have POA but then we spent a long time discussing his account. This has happened a number of times and all my calls were recorded proving this.


The banjk immediately admitted mis-selling the insurances and gave full refund plus token compensation. I had this increased by 50% following yet further incompetence.

However they do NOT admit the loans and overdrafts werre mis-sold and the Financial Ombudsman has let them get away with it.

Notwithstanding the document (which I have been advised IS perfectly legal) I contend they should never have mis-sold the loans in the first place. It is extremely obvious to anyone with more than two firing synapses that my son is not able to understand what he is signing. He is also profoundly deaf.

I wrote to the CEO of the bank and got the predictable answer that the bank refuses to even reconsider their refusal to admit the laons were mis-sold although they admit he had no clue about the insurances.