I think my father has been mi-sold a loan by Lloyds TSB

[Shazeroonie]

Hi, I'm new on here, but am desperate for some help!

 

It came to light last week that my 80 year old father has been subject to a PPI fraud.

 

He trusted that he was going to get some money back, and was asked for money in advance, to which he succumbed.

 

In the revelation of all of this, it's transpired that he has been going overdrawn in the bank, and has taken out a couple of loans.

 

The first loan was for £5000, last December, and was in his name, and, although he shouldn't have done it, it was all above board as far as we can tell.

 

There was however, a second loan in January £9600 which was used to pay off the first loan, and clear the £2500 overdraft they had allowed him to take out!!!.

 

But, and here's the thing,

they allowed him to take it out in my mothers name, without seeing her?.

They have admitted that they never saw her,

that my father was allowed to take the paperwork out of the bank,

home to her (She's not very mobile, and is not quite 'with it' any more), for signature, and then gave him the money???!!!!!!!

 

Now, we believe that this was wrong, and they shouldn't have done it.

But, what should we do now?,

who should we see etc?

[patrickq1]

First and foremost you need to get as much information from the banks you also need to legally have full permission to deal with their affairs ,if they own property you should have this and all other assets transferred to you and family ,then you can begin to start whatever action is needed as for the PPI they are well above the retirement age also the banks are at fault for providing these loans without the usual credit checks as to ability to repay they also have made a loan to a person who is not of sound mind but you need to clarify this with their doctors a written notification as to the health of your parents and their abilities to service these loans their are so many factors that have to be considered I would ask that you seek legal advice through good solicitors yes the forum will help but you beed firstly your parents permission to act as their legal guardians there is so much to do here and I am quite sure you will get expert advice on here but firstly you need as suggested above get all assets transfered in you or family good luck