What would be the legal aspect on this?

[Millie]

Hi

A few years ago we took out a loan for £3000, my husband was told he had to agree and sign for the PPI or the loan could not go ahead.

Our problem is this: Though my name was not on the loan and I was not present at the point of sale, my husband was advised to take out insurance in 'both' our names.
I was/am registered disabled, so the insurance would have been null and void where I was concerned from the start, so why were we forced to have the PPI and what would be the legal aspect on this?
As I said, I was not named on the loan.

Thanks

[di30]

Re: What would be the legal aspect on this?

Hi there

The insurance should have been made optional and with the loan not at all being in your name I don't understand why they brought your name into it at all, and as your not going to be able to make a successful claim due to your med condition its worthless to you.

So I take it you are thinking about making a reclaim on the PPI?

Do you mind posting what company sold your husband the loan, I expect there will be many on here who have had experience from the same bank/loan business that may also be able to help and advise, cheers.

[Millie]

Re: What would be the legal aspect on this?

Thanks Di

The company was HSBC, yes I do intend to claim back the PPI, but what are the legalities in this case, should I have even been mentioned on the PPI insurance and pay for it, seeing as the loan was nothing to do with me at the point of sale?

Thanks Di
------------------------------- merged -------------------------------
Di

Are the claims for PPI for the period 2005 still on hold?

Cheers.

[pompeyfaith]

Re: What would be the legal aspect on this?

Are the claims for PPI for the period 2005 still on hold?

Good Question and one that all banks are taking a different view on, but legally no they are not.

I would follow the guidance on the FOS and FSA websites

Still submit your claim to HSBC

[di30]

Re: What would be the legal aspect on this?

Your very welcome, and as PF as said, still submit your reclaim to the head office of HSBC, they are by right supposed to continue with investigating complaints.

I do actually have 2 held back myself, via Lloyds at this point and seeing how it goes, but will submit time to the FOS if it goes on too long, even though the FOS do have a high volume of complaints to deal with it will still be dealt with.

I would therefore continue with the reclaim with the reasons you have, I would also make a point of the policy being totally worthless to you due to your reasons and it was added without "you being present" when the loan was sold to your other half, give them as many details as you can that relates to your reclaim.

Check the link below for more information and then complete the reclaiming questionnaire, send to as stated above and keep a copy for your reference and anything you receive, in case you need to refer to this again at some point.

They do normally have 8 weeks, they may write to ask for more time, or they may suggest you wait longer due to the Judicial Review issues at present, but they should also give you the opportunity to take your complaint to the Financial ombudsman service (FOS) as well.

http://www.legalbeagles.info/forums/...ad.php?t=22339

The reclaiming questionnaire "Payment Protection Insurance"
Also on the FOS site here:
http://www.financial-ombudsman.org.u...complaints.htm

http://www.financial-ombudsman.org.u...stionnaire.doc

I would also like to add, even though you do not actually need to give them the calculations, maybe it would be useful if you have any details on these, to post them up here and there is help for this on this site, Turboman, Bilk etc.

Ask for any further help if required, and please keep us posted, good luck.

[Millie]

Re: What would be the legal aspect on this?

Thanks PF, I shall submit my claim and check out the FOS and FSA guidance as advised. (Cheers)

Thanks Di,
Yes, policy was totally worthless.

Thanks for the forms Di, shall fill them in asap and post anything helpful on here.

Cheers Both, very much appreciated.

[pt2537]

Re: What would be the legal aspect on this?

Legal Beagles Consumer Forum

Id direct people to this judgment

The PPI can lead to an irredeemable unenforceability on the loan

[pompeyfaith]

Re: What would be the legal aspect on this?

I would also like to add, even though you do not actually need to give them the calculations, maybe it would be useful if you have any details on these, to post them up here and there is help for this on this site, Turboman, Bilk etc.

This is a very good point and indeed certainly worth pointing out from the start, as it is well known that banks and all work on damage limitation and will pay out the least that they can.

The FOS as good as they are will also not state the amount payable by the firm until it reaches the ombudsman final stage.

Adjudicators use the open offer settlement form so it is a must we back up our claims with our own figures.

[pompeyfaith]

Re: What would be the legal aspect on this?

Ill just pop this here Millie as it makes it very clear on the FSA's stance on the handling of complaints during the Judicial Review:

http://www.fsa.gov.uk/pages/consumer...ppi_letter.pdf

[ncf355]

Re: What would be the legal aspect on this?

Legal Beagles Consumer Forum

Id direct people to this judgment

The PPI can lead to an irredeemable unenforceability on the loan

Is that thread VIP only?

I cant view it

[cappo]

Re: What would be the legal aspect on this?

Legal Beagles Consumer Forum

Id direct people to this judgment

The PPI can lead to an irredeemable unenforceability on the loan

hi guys can the unenforceability still be questioned on these loans/credit cards i thought waksman finished all that off

[PPItechexp]

Re: What would be the legal aspect on this?

Hi

A few years ago we took out a loan for £3000, my husband was told he had to agree and sign for the PPI or the loan could not go ahead.

Our problem is this: Though my name was not on the loan and I was not present at the point of sale, my husband was advised to take out insurance in 'both' our names.
I was/am registered disabled, so the insurance would have been null and void where I was concerned from the start, so why were we forced to have the PPI and what would be the legal aspect on this?
As I said, I was not named on the loan.

Thanks

I think you should phone the insurance underwriter and see exactly who is covered as it seems rather strange that you would be ut on the policy aswell! if they confirm that it is a joint policy for yourself asell as your husband then you have a strong mis-sale case. Thanks

[Millie]

Re: What would be the legal aspect on this?

Hi Folks

Thanks PF for the link to the letter from the FSA, interesting reading

Thanks also to everyone on here for their input, much appreciated! (Such a great bunch and so helpful).


Cheers!

[pompeyfaith]

Re: What would be the legal aspect on this?

Millie,

You are more than welcome and as Martin Lewis said PPI is a blatant rip-off and serves one perpose only to swell the coffers of the banks.

Anything you are not sure about just post on your thread here and one of us will pick it up and give you guidance.

Regards

[ncf355]

Re: What would be the legal aspect on this?

hi guys can the unenforceability still be questioned on these loans/credit cards i thought waksman finished all that off

That judgment and several others since were made after Waksman, so no problems there