PPI Reclaiming Discussion part 4

di3004

cappo wrote: »

How are you Di,how are those workmen coming along,:D have you shot them yet lol

Hi Steve

LOL yeah not too bad thank you, and you? :D

When they come back next week I will be keeping my beady eye on them :eek::eek:, LOL well you can say I was tempted Steve lmao :rotfl::rotfl::rotfl::D;) xx

di3004

Red_peppers wrote: »

I have received my NOT upheld letter today

Basically it says after reviewing the sales call they are happy with the way it was sold and we were told it was optional. The fact that it only covers the first five years was explained and we agreed. Then was told to check the paper work.

The policy will remain in force.:mad:

Any help please guys

No mention of single premium either

Was this the final decision?
I would write back anyway and give them 14 days, tell them you want this complaint reconsidered because you don't believe they have investigated your complaint properly, and it seems they have not considered everything.
Tell them, these policies are "frowned upon" and are worthless after 5 years, and tell them you will consider taking this further with the FOS plus the FSA about this if they do not consider this in your favour.

Tell them despite the signing of the agreement, you were told you had to do this to have the loan, and then tell them their terms and conds are all jargon and not always easy to understand, where you feel this have not been sold in your best interest.
And any other info you can think of in relation of your complaint.

Then if you hear nothing by 14 days, complain to the FOS.
Some will even change a final decision within good reason, keep at them, good luck.;)

cappo

Red_peppers wrote: »

I have received my NOT upheld letter today

Basically it says after reviewing the sales call they are happy with the way it was sold and we were told it was optional. The fact that it only covers the first five years was explained and we agreed. Then was told to check the paper work.

The policy will remain in force.:mad:

Any help please guys

No mention of single premium either

sorry to hear that who are the bank?

cappo

di3004 wrote: »

Hi Steve

LOL yeah not too bad thank you, and you? :D

When they come back next week I will be keeping my beady eye on them :eek::eek:, LOL well you can say I was tempted Steve lmao :rotfl::rotfl::rotfl::D;) xx

Alright Di enjoying the weekend hope everyone else is too, where's that sunny sunny today. Enjoy your weekend sunny.

Red_peppers

cappo wrote: »

sorry to hear that who are the bank?

It is First Plus

aandrea

magpiecottage wrote: »

I think you may have problem. ARG Equation changed its name to GUS Home shopping but has recently dissolved.

That means it will not be able to pay any redress and because the sale took place before 2005, the Financial Services Compensation Scheme cannot assist you.

Even if that were not so, although you say it subscribed to the GISC code, the FSA register indicates it was never FSA authorised so FOS would not have had jurisdiction.

So is it just Aviva, from when they took over ?

cappo

Red_peppers wrote: »

It is First Plus

i've heard of a lot of problems with first plus yes i agree with Di speak to the bank again as sometimes you can get hold of someone reasonable at the bank they will be well aware of the fact that single premiums have been banned and there were front loading problems i would speak very reasonably to them explaining that they've misold you on the fact that fp did'nt explain to you that you would pay for the ppi in one lump upfront and interest was payable on the ppi as well, deffo a misold, as our Di says if no joy fos them as i think the fos will take a dim view of this, should be an uphold. let us know how you get on.

Red_peppers

Thanks Di, yes they said final decision.

I will try and compose a letter! I'm not very good at these things so I was hoping maybe yourself, amersall and niggly could combine your mighty forces and help me out.... :A:A:A

Red_peppers

cappo wrote: »

i've heard of a lot of problems with first plus yes i agree with Di speak to the bank again as sometimes you can get hold of someone reasonable at the bank they will be well aware of the fact that single premiums have been banned and there were front loading problems i would speak ery reasonably to them explaining that they've misold you on the fact that fp did'nt explain to you that you would pay for the ppi in one lump upfront and interest was payable on the ppi as well, deffo a misold, as our Di says if no joy fos them as i think the fos will take a dim view of this, should be an uphold. let us know how you get on.

Will do, thank you for your help :A

PurityExiled

Hello


I hope that this is the correct section to ask for advice.


We took out a secured loan with Firstplus in Jan 2008. Whilst arranging the loan (which we wanted over a five year term) the Firstplus agent recommended PPI, which she said we would get back at the end of the loan term if we didn't make a claim. When she told me what the repayments would be including the PPI, I said no thanks we couldn't afford that amount, she then said that they could extend the loan term to 6 years and thereby make the PPI affordable. However, I was not told that the PPI would only cover the first 60 months of the loan and not the additional 12 months that had been added to get us to take the PPI. Looking at our policy it looks like the PPI was front loaded too.


We now have a 6 year rather than 5 year loan, and PPI that doesn't cover the full term, but which we will be paying interest until the end.


Do we have a case to reclaim the PPI?