Ref.ppi Claim

[davidmarsden]

my wife recently passed away.we had a loan with Alliance and Leicester which I thought was just in my wifes name.they state it was a joint loan but on the PPI claim I am making they want me to provide a statutory declaration because the PPI was in my wifes name .if it was a joint loan is it possible to have one name for PPI ?.I have been repaying the original £6000 loan for
almost 20 years and it has now been transferred to Santander.

[Bazile]

20 years ? - crikey mate .

Are you the executor of your wifes estate - if so i wouldn't have thought it matters if it's only one name or both .

However i may be wrong and i'm sure one of our legal eagles will happen along soon .

[davidmarsden]

sorry-yes I am the executor but my wife never left a will and owned less than £3000 .

[chrissa1]

They want you to make a Statutory Declaration that your wife has sadly passed away and you are claiming it as your wife's next of kin.
Its simple to do and costs about £10 to get it done by a solicitor. It takes about 15 minutes then send it to the company you're claiming from.

[bednobs]

hi, it is perfectly possible to have the PPI in one name on a joint loan. It's a *** for you though as of course, the PPI will be added to your wife's estate and used to mitigate any of her debts, rather than coming to you to help you pay off the loan :(

[chrissa1]

Hang on, hang on.
You have been paying off a loan of £6000 for the last 20 years?? What was the interest rate you were paying?

There was no "estate" bednobs. DM's wife did not have the assets to warrant one. Santander will probably knock off what is owed on the loan before sending him a cheque, but he will get the balance, which will not to be sneezed at.

[bednobs]

i dont think that's right chrissa - if the money is owed to the wife, it will form part of her assets and go towards her estate. We have no idea how much the PPI is worth but it might be a lot. We also dont know if the wife had any debts, but if she did, the ppi will have to go towards payig htem

[chrissa1]

Who is going to know about these "debts" bednobs? There is no, estate. I would say it's up to davidmarsden what to do with the money.

[bednobs]

errr, the creditors? It may be that the wife does not have any debts, but then the money is likely to go towards the funeral i would have thought An executor (or in this case administrator of the estate) has a legal duty to identify the creditors and the assets and sort the estate out according to strict rules. They can't just conveniently "forget" about debts - if they come to light later and david has just spent money from the estate on himself, he could be personally liable.

[chrissa1]

As I said before, the only debt that Santander will be interested in, will be the loan in question. They will clear that loan using any PPI money and the balance will be sent to, DM.

You're assuming that there are lots of debts, bednobs. If I were to die tomorrow, I wouldn't have any debts, whatsoever.

[bednobs]

"We also dont know if the wife had any debts"
"It may be that the wife does not have any debts"
I m not assuming there are loads of debts at all!

[chrissa1]

Sorry, but that sounds what it sounded like to me, bednobs. :)