PPI with First Plus/ Freedom Finance/ Bespoke

I have been trying to reclaim my PPI for a number of years.

The background to it is that I had a loan with First Plus, who say Freedom Finance brokered it, who say they were working on behalf of Bespoke who were unregulated.

I sent a claim to the Ombudsman back in 2012, who are looking at claiming against the underwritters, Society of Lloyds. I have had fairly frequent letters from them stating they are still investigating if the underwritter is legally responsible and will keep me updated.

I was made redundant, which I notified the Ombudsman of in the hope of progression, but am still waiting for a decision and growing desperate to the point of considering a handling company?

I have never believed my loan or PPI was with anyone other than First Plus which I have explained to the Ombudsman, as all the signed original loan paperwork is branded First Plus. Again they were going to look into this, but have heard no more since.

Can anyone give me some advice based on above or share their similar experience & success that I could try and replicate?

Cheers
Paul

Comments

  • Nasqueron
    Nasqueron Posts: 8,631
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    I have been trying to reclaim my PPI for a number of years.

    The background to it is that I had a loan with First Plus, who say Freedom Finance brokered it, who say they were working on behalf of Bespoke who were unregulated.

    I sent a claim to the Ombudsman back in 2012, who are looking at claiming against the underwritters, Society of Lloyds. I have had fairly frequent letters from them stating they are still investigating if the underwritter is legally responsible and will keep me updated.

    I was made redundant, which I notified the Ombudsman of in the hope of progression, but am still waiting for a decision and growing desperate to the point of considering a handling company?

    I have never believed my loan or PPI was with anyone other than First Plus which I have explained to the Ombudsman, as all the signed original loan paperwork is branded First Plus. Again they were going to look into this, but have heard no more since.

    Can anyone give me some advice based on above or share their similar experience & success that I could try and replicate?

    Cheers
    Paul

    The complaint is against the seller not the finance provider and the underwriter doesn't have any liability though some will take it on - FOS probably looking for a link between the seller and the insurer

    A CMC cannot do anything you haven't done, indeed, if you take one on, as soon as they realise you have complained and referred to the FOS they will bill you for wasting their time especially if they realise it's a pre-regulation case where you're hoping to get lucky.

    Leave it with the FOS.

    I suppose there is a certain irony that having lost your job, claiming on the PPI would actually have been useful if it was still running.
  • I have been trying to reclaim my PPI for a number of years.

    The background to it is that I had a loan with First Plus, who say Freedom Finance brokered it, who say they were working on behalf of Bespoke who were unregulated.

    I sent a claim to the Ombudsman back in 2012, who are looking at claiming against the underwritters, Society of Lloyds. I have had fairly frequent letters from them stating they are still investigating if the underwritter is legally responsible and will keep me updated.

    I was made redundant, which I notified the Ombudsman of in the hope of progression, but am still waiting for a decision and growing desperate to the point of considering a handling company?

    I have never believed my loan or PPI was with anyone other than First Plus which I have explained to the Ombudsman, as all the signed original loan paperwork is branded First Plus. Again they were going to look into this, but have heard no more since.

    Can anyone give me some advice based on above or share their similar experience & success that I could try and replicate?

    Cheers
    Paul

    If you do not get this money through is their a chance you could eventually face repossession for non payment of the loan
  • The loan is fully paid, including the front loaded PPI.
  • amersall
    amersall Posts: 17,004
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    Yo will have to see if the insurer accepts liability, this is not set in stone, I hope you are lucky and get the PPI back though, please let us know what the outcome is.
  • I went through exactly the same process for over a year and the ombudsman said there was nothing I could do as freedom finance no longer regulate, I thought I was dealing with first plus and have no paperwork or anything from freedom finance, there are many others the same as us, surely there should be something else we can do.
  • amersall
    amersall Posts: 17,004
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    I am afraid it is what it is, these loans were brokered and it is the broker that sold you the PPI and not FP.
  • Ombudsman has now confirmed that they are unable to take any further.

    Gutted & annoyed that FP & the others have got away with it is an understatement.

    Any suggestions if or what to do next greatfully received.
  • FP didn't sell it so can't really be held responsible for mis-selling something they didn't sell at all. They just provide the money.

    The responsibility for the sale lies with the broker and they were not regulated. FOS do not appear to have been able to link the underwriter and the seller so unfortunately it's game over.
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