PPI Reclaiming discussion Part III

di3004

davecregan71 wrote: »

MARTIN PLEASE...

ADVICE ALL FIRST PLUS SINGLE PREMIUM PPI CUSTOMERS THAT THEY ARE ALL DUE A REFUND!

I'VE GOT MINE AND FSO WEREN''T INTERESTED IN THE HOW IT WAS SOLD.

THEY SAY THE POLICY ITSELF IS UNFAIR BECAUSE YOU PAY INTEREST OVER 25YEARS ON A PREMIUM FOR A POLICY THAT ONLY LASTS FIVE. SO WAS "NOT IN YOUR INTEREST"

FORGET I HAD A BAD BACK OR I HAD PMT - THESE POLICIES ARE DEEMED UNFAIR YOU WILL ALL GET YOUR MONEY BACK PLEASE PUT THIS IN THE WEEKLY NEWSLETTER AS FP CUSTOMERS ARE BEING BADLY CRUNCHED!!

STEP ONE SEND LETTER ASK FOR DOSH BACK PLAUS 8% - GET KNOCKED BACK. THIS SHOULD BE A FINAL RESPONSE

NOW SEND TO fso WHO ARE SWAMPED AND WAIT...

THEN MONEY ARRIVES.
I NOW WANT INFO ON THE FACT I WAS SOLD MY LOAN AS VARIBALE BUT IT ONLY GOES UP! I BELIEVE THIS IS MISSELLING TOO. IT FOLLOWS NO INTEREST RATE AT ALL.... MORE FP LIES!

COULD THIS BREAK THE SALES OF GOODS ACT??

Hiya hun
Thanks for adding this.

There are lots who have complaints against First Plus and I feel they have a good chance of getting their money back.

Good for you on yours as well.

If you don't mind me asking did your case take long from start to finish?

I know a lot of posters/members will agree with you here.;)

Again thanks for posting up.

I am sure someone will confirm your question for you.

Di
x

marshallka

davecregan71 wrote: »

MARTIN PLEASE...

ADVICE ALL FIRST PLUS SINGLE PREMIUM PPI CUSTOMERS THAT THEY ARE ALL DUE A REFUND!

I'VE GOT MINE AND FSO WEREN''T INTERESTED IN THE HOW IT WAS SOLD.

THEY SAY THE POLICY ITSELF IS UNFAIR BECAUSE YOU PAY INTEREST OVER 25YEARS ON A PREMIUM FOR A POLICY THAT ONLY LASTS FIVE. SO WAS "NOT IN YOUR INTEREST"

FORGET I HAD A BAD BACK OR I HAD PMT - THESE POLICIES ARE DEEMED UNFAIR YOU WILL ALL GET YOUR MONEY BACK PLEASE PUT THIS IN THE WEEKLY NEWSLETTER AS FP CUSTOMERS ARE BEING BADLY CRUNCHED!!

STEP ONE SEND LETTER ASK FOR DOSH BACK PLAUS 8% - GET KNOCKED BACK. THIS SHOULD BE A FINAL RESPONSE

NOW SEND TO fso WHO ARE SWAMPED AND WAIT...

THEN MONEY ARRIVES.
I NOW WANT INFO ON THE FACT I WAS SOLD MY LOAN AS VARIBALE BUT IT ONLY GOES UP! I BELIEVE THIS IS MISSELLING TOO. IT FOLLOWS NO INTEREST RATE AT ALL.... MORE FP LIES!

COULD THIS BREAK THE SALES OF GOODS ACT??

Well done first for getting yours back from Firstplus. This is one lender that I love to hear of wins with...:D .

I myself had a Firstplus loan and ours was variable too but only ever went UP. Ours went up every time we requested a settlement figure from them just purely to trap us in. I hope you do get somewhere with the complaint about the Interest rate too and I know there is a thread about it on the loans section.

Ours was outside of the FOS jurisdiction so we cannot go to them about this. We do however have a complaint in at the moment about the rebate we received from the policy and this is what the FOS told us to do and this is with the insurer. Don't know what will happen but just hope we win...

marshallka

maxdp wrote: »

Hi All

Hope you have had a fab christmas.

I have thoroughly enjoyed mine. Seemed such a long time off but having been rushing here there and everywhere trying to catch up with friends and family:eek:

Went to a party last night, first I have been to for a year and definitely feeling long past my sell by date today:rotfl:

Di Hope you have a fab Wedding Anniversary;)

Marshallka Hope you are ok;)

Hiya maxdp. I'm F.I.N.E. thanks...;)

Hope you are enjoying yourself and letting your hair down. Sounds like you're having fun.

mrrobgee

I took out a loan with first plus in 2002 to cover various expenses of moving etc. The load was around 56800 which included 13910.32 Payment Proctection Premuim. THis was there cash back premuim and so received approx 11000 back from this. Is this totally different from PPI and can i reclaim ? as when i asked for a settlement figure it was way above what i had originally borrowed

di3004

mrrobgee wrote: »

I took out a loan with first plus in 2002 to cover various expenses of moving etc. The load was around 56800 which included 13910.32 Payment Proctection Premuim. THis was there cash back premuim and so received approx 11000 back from this. Is this totally different from PPI and can i reclaim ? as when i asked for a settlement figure it was way above what i had originally borrowed

Hi there
I assume it is that of PPI hun.;)

There are many on here dealing with these right now and keep a check on the posts when you can where I am sure others will post up on this issue for you.

They tend to add the PPI together with the loan as one huge payment and the interest is extortionate as well.

Marshallka's was the same regarding the settlement figure, it was very high too.

pinknico

Hello all! hope you are all ok and had a lovely christmas. XXX

marshallka

mrrobgee wrote: »

I took out a loan with first plus in 2002 to cover various expenses of moving etc. The load was around 56800 which included 13910.32 Payment Proctection Premuim. THis was there cash back premuim and so received approx 11000 back from this. Is this totally different from PPI and can i reclaim ? as when i asked for a settlement figure it was way above what i had originally borrowed

I assume you took out a PPI policy where after 5 years if you did not make a claim then they would refund you the policy. They say this to you to get you to buy this but they forget to add that the policy is refunded at the cost without the interest that is payable over the whole term of the loan. This is then near on double what the policy is and you only get back the actual price of the policy without the interest so very expensive in the long run.

I take it you are saying you received the cash back part of the policy back???

Also was it Firstplus that actually sold you this policy or did you use a broker?? If you used a broker then its the broker you make a complaint against and not the lender.

And what year was this taken out??

Where you say that "is this totally different to PPI", its not. The policy that you received back is your PPI. You could still make a claim on this if it was missold to you in any way. Was it added as compulsory and also were you aware that this incurred interest payable over the whole term of the loan and in the settlement you only get back a small rebate (if any!!) against the whole cost. This is why your settlement was so high as it had the interest on the PPI added.


Just take a look at the link here and see whether you think you were missold and if you were then you can make a complaint and add and delete from the template letter what is applicable to you. Its always best to do your own from this. There are lots of reason on there for the misselling so pick out the ones that are applicable to yours.

You then write to the firm that actually made the sale of the PPI to you if this is different from the lender and don't forget to send this recorded delivery so you always a proof and dates etc.

After that you have to give them 8 weeks for a full and final response. In this time it is usual to get a response of "sorry we sold this to you fairly" but you then respond to this and reiterate your complaint again. The next time they write they either give you a final response which you would need in order to take this complaint to the FOS or offer to settle.

http://www.moneysavingexpert.com/rec...urance#reclaim


Good luck

Toffee_Penny

Yo yo yo yo

oohhh Christmas is over, that's it time to fight that tree back in it's box ready for next year. Loved the soaps over christmas (yes I am that sad! ) but now feel ready for new year and a new start.

I'm not bothering with New Year Resolutions like dieting and stopping smoking, for me it's going to be clawing back our 'stolen' money for late payment fees, admin fees, overlimit fees aswell as the dreaded ppi!

Using the templates on here I'm going after;

Marbles - loan started in 2004, paid off early 2005-6, haven't got the original loan agreement (stupid me threw it out pre-DMP) still I have OH old bank statements showing direct debit payments to them so I hope there is a chance of records their end.

Halifax - 2 top ups on one loan from original one in 2003, topped up in 2004 and 2006 all with ppi on, total amount of ppi charged - a staggering £9653.95!! :eek: wish me luck on this one folks

GUS - 2 top up loans from 2001 and 2002 ended in 2004, joint application with Gold creditcare ppi, this was a joint application, I had a catalogue account with them which is still active through DMP payments, hoping they will have details on these loans


I'm also claiming back late payment, overlimit charges fetc rom GUS, Halifax credit card and Monument credit card.


So I'm going to be a busy bee for the new year don't you think? Couldn't have done it without you guys though, so a big :beer: from me!

take care and wish me luck, think I will need it with that lot! :rolleyes:

di3004

Toffee_Penny wrote: »

Yo yo yo yo

oohhh Christmas is over, that's it time to fight that tree back in it's box ready for next year. Loved the soaps over christmas (yes I am that sad! ) but now feel ready for new year and a new start.

I'm not bothering with New Year Resolutions like dieting and stopping smoking, for me it's going to be clawing back our 'stolen' money for late payment fees, admin fees, overlimit fees aswell as the dreaded ppi!

Using the templates on here I'm going after;

Marbles - loan started in 2004, paid off early 2005-6, haven't got the original loan agreement (stupid me threw it out pre-DMP) still I have OH old bank statements showing direct debit payments to them so I hope there is a chance of records their end.

Halifax - 2 top ups on one loan from original one in 2003, topped up in 2004 and 2006 all with ppi on, total amount of ppi charged - a staggering £9653.95!! :eek: wish me luck on this one folks

GUS - 2 top up loans from 2001 and 2002 ended in 2004, joint application with Gold creditcare ppi, this was a joint application, I had a catalogue account with them which is still active through DMP payments, hoping they will have details on these loans


I'm also claiming back late payment, overlimit charges fetc rom GUS, Halifax credit card and Monument credit card.


So I'm going to be a busy bee for the new year don't you think? Couldn't have done it without you guys though, so a big :beer: from me!

take care and wish me luck, think I will need it with that lot! :rolleyes:

Hi there Toffee Penny and good on you :T :T :beer: , good luck with them all, keep on at them and I'm sure you will get that luck in 2009 :T :A .
Happy New Year for 2009 hunni.:beer:
Good luck, we have everything crossed for you here.;)

Di
x

Toffee_Penny

Hi Di

I know it sounds so cheesy but if it wasn't for you guys and that Martin fella then I wouldn't know where to start with it all

Reading through the success and failures thread brings hope to everyone who is trying to get something back.

It's a stab in the dark with GUS because of the date of the loan but others have had successes from that far back, so I am hoping (crossing my fingers and all that!) I suppose it's worth spending £1.08 compared to what we could get back :rolleyes: