PPI Reclaiming discussion Part III

Neptune76

di3004 wrote: »

Found this by googling:

1st Auto Direct Ltd.

Beck House
BOSTON
Lincolnshire
PE20 1TT
United Kingdom Telephone:
Fax:
+44 (0)1205 290 900
Not available

If its these I would write directly to them and tell them if they do not resolve this case you will take to the Financial Ombudsman service to investigate.

Tell them that you received a letter from GE Money who claims its them you have to pursue.;)

Hi, thanks so much for your help so far. It was def 1st Auto Direct Ltd in Boston. I phoned them just now but got a landscaping company! They had never heard of 1st Direct.

I can't find anymore info for them. Think they might not be around anymore. I think that they may have been linked with Yes car credit? Guess I have come to a dead end with this.

marshallka

Neptune76 wrote: »

Hi, thanks so much for your help so far. It was def 1st Direct Ltd in Boston. I phoned them just now but got a landscaping company! They had never heard of 1st Direct.

I can't find anymore info for them. Think they might not be around anymore. I think that they may have been linked with Yes car credit? Guess I have come to a dead end with this.

I will take a look on companies house and get back..

marshallka

Don't know if this is anything to do with them. You could look at the company registration number...maybe they changed address??


Name & Registered Office:
1ST DIRECT LTD
DOBSHILL FARM
MILL LANE STAUNTON
GLOUCESTERSHIRE
GL19 3PD
Company No. 04810604

Status: Active
Date of Incorporation: 25/06/2003

Country of Origin: United Kingdom
Company Type: Private Limited Company
Nature of Business (SIC(03)):
9120 - Trade unions
Accounting Reference Date: 31/12
Last Accounts Made Up To: 31/12/2006 (TOTAL EXEMPTION SMALL)
Next Accounts Due: 31/10/2008 OVERDUE
Last Return Made Up To: 25/06/2008
Next Return Due: 23/07/2009
Last Members List: 25/06/2008

Neptune76

marshallka wrote: »

Don't know if this is anything to do with them. You could look at the company registration number...maybe they changed address??


Name & Registered Office:
1ST DIRECT LTD
DOBSHILL FARM
MILL LANE STAUNTON
GLOUCESTERSHIRE
GL19 3PD
Company No. 04810604

Status: Active
Date of Incorporation: 25/06/2003

Country of Origin: United Kingdom
Company Type: Private Limited Company
Nature of Business (SIC(03)):
9120 - Trade unions
Accounting Reference Date: 31/12
Last Accounts Made Up To: 31/12/2006 (TOTAL EXEMPTION SMALL)
Next Accounts Due: 31/10/2008 OVERDUE
Last Return Made Up To: 25/06/2008
Next Return Due: 23/07/2009
Last Members List: 25/06/2008

Sorry made a typing mistake! Its 1st Auto Direct Ltd not 1st direct Ltd. Sorry about that.

marshallka

Neptune76 wrote: »

Sorry made a typing mistake! Its 1st Auto Direct Ltd not 1st direct Ltd. Sorry about that.

yeah, just looked back over your posts and found that out...



found it dissolved here

Name & Registered Office:
1ST AUTO DIRECT LTD
BECK HOUSE
KIRTON HOLME
BOSTON
LINCOLNSHIRE
PE20 1TT
Company No. 03913435

Status: Dissolved 29/07/2003
Date of Incorporation: 25/01/2000

Country of Origin: United Kingdom
Company Type: Private Limited Company
Nature of Business (SIC(03)):
5010 - Sale of motor vehicles
6522 - Other credit granting
Accounting Reference Date: 31/01
Last Accounts Made Up To: 31/01/2001 (SMALL)
Next Accounts Due:
Last Return Made Up To: 25/01/2001
Next Return Due:
Last Members List: 25/01/2001


This means you will have to make a complaint to the FSCS on this one.

marshallka

Details of the Financial Services Compensation Scheme are here


http://www.fscs.org.uk/consumer/How_to_Claim/

Doddy03

Doddy03 wrote: »

Hi all - I posted on here a while ago with regard to our First Plus Loan which was taken out in 2004. I stated that we applied and wanted our loan to run concurrently with our mortgage which I believe at the time was approximately 23 years. We received a telephone call from First Plus after applying saying that we had to up the time to 25 years and that we HAD to take out PPI otherwise they would not consider us. I wrote to First Plus and had the standard response saying that PPI was optional and that on the recording it states all this. I have received a copy of this disc but this is the second phone call and I was under the impression that we had no choice about the PPI at this stage so I agreed with it all. I asked FIrst Plus over the telephone for a copy of the original phone call where it was stated we HAD to take the PPI and apparently that particular file is corrupt! I just wanted some advice as to what my next course of action should be. Sorry for waffling but look forward to hearing from someone? Thanks

Hi all wrote to First Plus Again and have today received a letter back from them saying that they do not believe that we were mis sold but as a gesture of goodwill they are willing to refund us an "enhanced rebate" and is "calculated on a pro rata basis of 78% of the insurance premium". Basically because we have had the policy for 51 months already this amounts to an amount just over £1,100. However they also state that "on the 20th August 2008, subject to no successful claims being made and meeting the terms and conditions of the loan, you will receive a full refund of your premiums minus IPT of around 5%". I also completely baffled as I think they must mean 2009 and its a typographical error. However if we accept this offer of £1,100 does that mean that we do not meet their terms and conditions as we are in effect cancelling the policy 9 months early. Sorry for the long post but am completely confused as to what to do next. I think that they are admitting guilt to offer us anything but hubby thinks we should take the money and then claim back the whole lot in August next year. Any help with anyone fighting First Plus would be appreciated. Many thanks and kind regards

marshallka

Doddy03 wrote: »

Hi all wrote to First Plus Again and have today received a letter back from them saying that they do not believe that we were mis sold but as a gesture of goodwill they are willing to refund us an "enhanced rebate" and is "calculated on a pro rata basis of 78% of the insurance premium". Basically because we have had the policy for 51 months already this amounts to an amount just over £1,100. However they also state that "on the 20th August 2008, subject to no successful claims being made and meeting the terms and conditions of the loan, you will receive a full refund of your premiums minus IPT of around 5%". I also completely baffled as I think they must mean 2009 and its a typographical error. However if we accept this offer of £1,100 does that mean that we do not meet their terms and conditions as we are in effect cancelling the policy 9 months early. Sorry for the long post but am completely confused as to what to do next. I think that they are admitting guilt to offer us anything but hubby thinks we should take the money and then claim back the whole lot in August next year. Any help with anyone fighting First Plus would be appreciated. Many thanks and kind regards

Right although they have offered this pro rata rebate of 78% of the PPI it does not take into account the actual interest on the PPI as well. Where they state about you getting this back in "2008" I take it meaning "2009" if you were to accept this refund then I bet that you will have to forfeit this as well meaning they have still won lots from you as in less than 12 months time you would get the full premium back anyway (but not the interest that is charged for the full term of the loan). You never get the whole amount back as its a loan upon a loan and they only pay you back the actual PPI and not the interest.....

How much did the insurance cost and was it for 5 years also??

How much are they offering to refund to you?? Is it £1100...??

Doddy03

Hi the insurance was for a period of 5 years and cost over £10,000! This is why I want to take it further. I can't see where the 78% has come from and I also believe that come next August they will state that we have cancelled the policy and therefore are not entitled to any further money. I know we have nothing to lose by taking it further but it is now beginning to stress me out already!!! Any help would be much appreciated and thanks so much for responding. Oops sorry they have offered us £1,100 in final settlement.

Neptune76

marshallka wrote: »

yeah, just looked back over your posts and found that out...



found it dissolved here

Name & Registered Office:
1ST AUTO DIRECT LTD
BECK HOUSE
KIRTON HOLME
BOSTON
LINCOLNSHIRE
PE20 1TT
Company No. 03913435

Status: Dissolved 29/07/2003
Date of Incorporation: 25/01/2000

Country of Origin: United Kingdom
Company Type: Private Limited Company
Nature of Business (SIC(03)):
5010 - Sale of motor vehicles
6522 - Other credit granting
Accounting Reference Date: 31/01
Last Accounts Made Up To: 31/01/2001 (SMALL)
Next Accounts Due:
Last Return Made Up To: 25/01/2001
Next Return Due:
Last Members List: 25/01/2001


This means you will have to make a complaint to the FSCS on this one.

Thanks for finding that info for me. Will look into the FSCS. Still think that GE Money must take some blame for this as they did sign the contract 12 days after I did. And the insurance part is not in my handwriting. Surely they have to check that I was given the correct information?