Firstplus PPI reclaim

JudiBee123

Hiya everyone, this is my first time for posting on this website. I have been looking around the various forums for the last couple of hours and now can't find the one I was reading earlier which seemed to be the best thread for me. So here goes - can anyone help. I have a Loan with Firstplus which carries a .... wait for it .... payment protection policy of £8,571.50 - how stupid was I? I signed for the loan in February 2005 with the cashback on premium option if I didn't make a claim. Call me naive but this seems like an okay option at the time - having read all the postings I realise how stupid I was and how much this is now going to cost me in the long run over the full 20 years of the loan (some £16,000+). The policy runs out in February 2010 when I will get the money back less the tax i.e. £8,142. I cant bear the thought of loosing this by cancelling the policy now as I can only claim 2% back if I cancel - OUCH! Just dont know what is the best course of action. Please can someone give me any advise and or support as to whether I can get any of my money back.
Thanks
Jude

marshallka

JudiBee123 wrote: »

Hiya everyone, this is my first time for posting on this website. I have been looking around the various forums for the last couple of hours and now can't find the one I was reading earlier which seemed to be the best thread for me. So here goes - can anyone help. I have a Loan with Firstplus which carries a .... wait for it .... payment protection policy of £8,571.50 - how stupid was I? I signed for the loan in February 2005 with the cashback on premium option if I didn't make a claim. Call me naive but this seems like an okay option at the time - having read all the postings I realise how stupid I was and how much this is now going to cost me in the long run over the full 20 years of the loan (some £16,000+). The policy runs out in February 2010 when I will get the money back less the tax i.e. £8,142. I cant bear the thought of loosing this by cancelling the policy now as I can only claim 2% back if I cancel - OUCH! Just dont know what is the best course of action. Please can someone give me any advise and or support as to whether I can get any of my money back.
Thanks
Jude

Were you missold this PPI and was it sold as compulsory to the loan. If you think it was and you were not offered to buy this elsewhere then
just take a look at the link here and see what you can add and delete from the template letter. 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 (WAS IT ACTUALLY SOLD BY FIRSTPLUS OR DID YOU USE A BROKER!!!) 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

Also please join the PPI reclaiming thread as there are lots that could help you on there too.

JudiBee123

Many thanks for your help. Will give it a go and keep an eye on the website - very helpful.

Regards, Jude

di3004

JudiBee123 wrote: »

Many thanks for your help. Will give it a go and keep an eye on the website - very helpful.

Regards, Jude

Good luck Jude

If you require any further help, please post up anytime, here or on the actual PPI Reclaiming thread, where you will find if you click on loans first then the thread on the top of the page.
Myself, Marshallka and others will be happy to help where we can.;)

Di
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