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I've posted this elsewhere, but am hoping someone here can give me a more concrete answer here
My OH owns his own limited company and is the director of it. My understanding (and his), is that the company is an entity of its own, and he is an employee of the company the same as any other person employed by a company - the only difference being he owns it, not someone else. He contracts out for the company rather than as an individual and as such is employed by it.
Going along these lines, when he applied for his c/c's a few years ago he put down his job title as 'director' and employment status as 'employed', which obviously he thought was correct.
He paid his premiums every month, then a 2/3 of years ago needed to claim. When he phoned however, he was told he couldn't claim as he was a director of a company, which was classed by them as being self employed. Obviously he cancelled straight away, but they'd already had several thousand pounds in payments over the years for something that was never going to be any use to him.
Do we have any chance of claiming this as mis-sold, as although he wrote 'employed' it clearly stated on his application that he was a company director?
He also did the same on an MBNA application, but looking through the SAR from them, when they processed his application they actually changed his employment status from employed to self employed, and didn't initiate the PPI! This indicates to me that it should have been explained to him that Halifax don't consider directors to be employed, and that they too should have refused PPI.
If anyone can tell me if we have a chance with this I'd really appreciate it.
Re: Company Directors and PPI - reclaiming possible?
Hello lexis,
Hi
I've posted this elsewhere, but am hoping someone here can give me a more concrete answer here
My OH owns his own limited company and is the director of it. My understanding (and his), is that the company is an entity of its own, and he is an employee of the company the same as any other person employed by a company - the only difference being he owns it, not someone else. He contracts out for the company rather than as an individual and as such is employed by it.
Going along these lines, when he applied for his c/c's a few years ago he put down his job title as 'director' and employment status as 'employed', which obviously he thought was correct.
He paid his premiums every month, then a 2/3 of years ago needed to claim. When he phoned however, he was told he couldn't claim as he was a director of a company, which was classed by them as being self employed. Obviously he cancelled straight away, but they'd already had several thousand pounds in payments over the years for something that was never going to be any use to him.
Do we have any chance of claiming this as mis-sold, as although he wrote 'employed' it clearly stated on his application that he was a company director?
He also did the same on an MBNA application, but looking through the Subject access request from them, when they processed his application they actually changed his employment status from employed to self employed, and didn't initiate the PPI! This indicates to me that it should have been explained to him that Halifax don't consider directors to be employed, and that they too should have refused PPI.
If anyone can tell me if we have a chance with this I'd really appreciate it.
Thanks very much
Please have a look at these two threads with info on claims and MBNA
It will take you time to search but BRW and his case is on the ball and the Links gives you a multitude of information if you have the time to search and make notes.
aa
I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner. ------------------------------------------------
Bank charge successes:
Halifax - Full settlement incl interest.
HSBC - Settlement, goodwill no admission of liability about 75% of claim.
RBS - Settlement, goodwill no admission of liability about 70% of claim.
2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did
PPI Successes
PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.
2 claims settled in full with LV without FOS involvement.
2 claims settled in full with HSBC without FOS involvement
PPI Claims ongoing with:
Cap one Now with the FOS
Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.
LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc
Please do not PM me for advice as it may be sometime before I can respond.
Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.
Re: Company Directors and PPI - reclaiming possible?
I've just been looking through OH's Subject access request, and annoyingly they haven't included anything to do with terms for the PPI.
However, I had a thought (which should have occured to me long ago) and had a look on their website. I checked on their .ie site as the insurance is from Halifax Ireland, and it states there under their exclusions section:
Unemployment if you are employed by a company, partnership or someone who is self employed where either the directors, shareholder(s), employer or partner(s) (as the case may be) is/are your partner or a family member unless the company, partnership or person ceases to trade at the same time.
I also looked on the .co.uk site though, and it seems to be a little conflicting, although I may just be confusing myself.
First it seems to say OH would have been classed as self employed:
a person who exercises direct or indirect control over a company (not necessarily the majority shareholder or holder of the majority voting rights); or
working for a company and in any way connected with a person who has control (as referred to above) over that company (for example, you are one of his or her family).
But then it goes on to say he would have been classed as in work:
You are working (in work) if you are in paid work under a contract of employment and paying class 1 UK National Insurance contributions, self employed by a company of which you are a Director and paying class 1 UK National Insurance Contributions
So, I think I need to get hold of the terms from when he took the insurance out.
As I read it, according to their current terms, he would either have been classed as Self Employed due to 'exercising direct or indirect control', in which case he was not eligible and the PPI should not have been given.
Or
He was working, classed as in work and eligible for the PPI, in which case why wasn't he allowed to utilise it.
The only other way I can read it is that the You are working (in work) bit is under the heading You are unemployed (in unemployment) when you are:...
so it's sort of like a caveat - ie: even if you are currently not getting paid work, just due to the fact you are still a director you are still classed as in work and therefore not able to claim on PPI unless the company ceases to trade. Of course, you don't just fold a company when it gets a bit tough, so this is not likely to apply too often is it??
Any way I look at it it seems that he was diddled, but I don't know if I'm just reading too much into it.
Anyway, I'm going to draft a letter asking for the original PPI terms, unless anyone happens to have them from around '00, or indeed thinks it's not such a good idea to ask!
Thanks for looking
Lexis
Time flies like an arrow... Fruit flies like a banana.
Re: Company Directors and PPI - reclaiming possible?
Originally Posted by lexis200
I've just been looking through OH's Subject access request, and annoyingly they haven't included anything to do with terms for the PPI.
However, I had a thought (which should have occured to me long ago) and had a look on their website. I checked on their .ie site as the insurance is from Halifax Ireland, and it states there under their exclusions section:
Unemployment if you are employed by a company, partnership or someone who is self employed where either the directors, shareholder(s), employer or partner(s) (as the case may be) is/are your partner or a family member unless the company, partnership or person ceases to trade at the same time.
I also looked on the .co.uk site though, and it seems to be a little conflicting, although I may just be confusing myself.
First it seems to say OH would have been classed as self employed:
a person who exercises direct or indirect control over a company (not necessarily the majority shareholder or holder of the majority voting rights); or
working for a company and in any way connected with a person who has control (as referred to above) over that company (for example, you are one of his or her family).
But then it goes on to say he would have been classed as in work:
You are working (in work) if you are in paid work under a contract of employment and paying class 1 UK National Insurance contributions, self employed by a company of which you are a Director and paying class 1 UK National Insurance Contributions
So, I think I need to get hold of the terms from when he took the insurance out.
As I read it, according to their current terms, he would either have been classed as Self Employed due to 'exercising direct or indirect control', in which case he was not eligible and the PPI should not have been given.
Or
He was working, classed as in work and eligible for the PPI, in which case why wasn't he allowed to utilise it.
The only other way I can read it is that the You are working (in work) bit is under the heading You are unemployed (in unemployment) when you are:...
so it's sort of like a caveat - ie: even if you are currently not getting paid work, just due to the fact you are still a director you are still classed as in work and therefore not able to claim on PPI unless the company ceases to trade. Of course, you don't just fold a company when it gets a bit tough, so this is not likely to apply too often is it??
Any way I look at it it seems that he was diddled, but I don't know if I'm just reading too much into it.
Anyway, I'm going to draft a letter asking for the original PPI terms, unless anyone happens to have them from around '00, or indeed thinks it's not such a good idea to ask!
Thanks for looking
Lexis
Hi, it may be worth looking at Money Saving Expert, just noticed this on their PPI successes forum :
pauljones68
MoneySaving Newbie
Join Date: Jan 2009
Post Count: 1
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pauljones68
STOP WHAT YOU'RE DOING AND READ THIS!!!
On the 4th October 2008 I delivered a MSE templated letter to HSBC bank claiming that I had been miss sold PPI on a personnal loan. On 9th December 2008 I received, without challenge an offer of £10,364.51.
In Sept 02 I took out a personnal loan for £20K over 8 years. I was told that PPI was needed to have the loan offer so I signed. That was miss-selling coupled with the fact that I was a director of a small firm (I could never claim on the policy).
You MUST, MUST, MUST take Martin's advice even if you don't think you could be that lucky. If you suspect you have been mis-sold a protection policy download the letter NOW. With this payment the loan is cleared 2 years early with money left over!
YOU HAVE NOTHING TO LOSE!!!
Company Directors and PPI - reclaiming possible?
application, but looking through the SAR
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Originally Posted by lexis200
