PPI Reclaiming Discussion part 4

livylegs

sorry edited my post read the letter properly the 2nd time lol

not sure what to do about accepting I want to as its over and done with but not sure how much its short!

I will get all info out and post it up and Turboman might take a look for me:)

thanks alot.xx

Mr_Bojangles_3

Turboman wrote: »

Will have a look if you post up details
1)-Date of agreement 23/07/03 and Number of Months of Loan 60 repayments
2)-Date of first payment 7th Sept 2003
3)-Amount of Cash Advance Loan 9547.65 plus 13952.35 to repay existing debts = 23499.7 / Monthly Pymt at outset 504.34 (excluding PPI) / % at outset 10.9%
4)-Amount of PPI Loan / Monthly Payment at outset/ 5091.53 / 109.27/month
5)-Total Loan Amount (not incl interest)/ Total Mthly Pymnt (as a crosscheck of above 2 to be sure) at outset 28591.53 / 613.61
6)-Number of payments made so far Final payment was made November 2008
7)-
8)-Exact figures & wording from your received settlement letter and dates thereof - No settlement letter yet, just a letter from the FO saying that Lloyds have agreed to settle my complaint as a gesture of goodwill, plus £200 compensation for distress etc. 11th March 2009.
9)-Present Monthly Total Payment + % N/A
10)-any history you have of Interest Rate Changes in form of a list--- None

---

Date of Change/new amount/new %

Thanks for your time and effort Turboman:beer:

di3004

Mr_Bojangles wrote: »

Thanks for your time and effort Turboman:beer:

Turbo is amazing isn't he?:A X

shallwehaveacoffee

Hi Guys, today we have received a letter from Firstplus this is what it said:

I would like to confirm that following a review of the telephone calls available, you were not advise that your loan was conditional on you taking the insurance offered. we confirmed verbally and in writing that the insurance is an optional product.
I have reviewed the details of your complaint and remain satisfied that the details of the ppi were explained to you correctly and information regarding cover was sent to you for your consideration prior to proceeding with the agreement.
i am therefore satisfied that you were provided with enough information to make an informed decision as to the suitability of the policy.
Nevertheless, having considered your complaint the senior managers of Firstplus are willing to reach an agreement with you in an attempt to reach a mutually agreeable outcome.

We would therefore like to offer you an enhanced rebate of the insurance premium of 1,715.94 in addition to the rebate of 356.78 that was included in the settlement figure of your loan.

The enhanced rebate offer is calculated on a pro-rata basis of 78% of the insurance premium and takes into account the policy provided you with cover when your loan was in force (40 months) and the rebate is calculated on the unexpired term at the time you settled(20 months)

I would point out that this additional refund is made with no admission of liability by either the insurers or Firstplus and is purely a gesture of goodwill. I would be grateful if you would confirm acceptance of this offer in writing at your earliest convenience.
xxxxxxxxxxxxxxxxxxxxxxxxxxx

Sorry that was goes on a bit but thought it may be helpful to anyone who can give me advice on whether to take this offer. I would like to point out that the 1st letter received just said a point blank NO! so i wrote back stating the main point of being told the ppi would help our application then this arrived today.
I have to say Firstplus have been very prompt and professional whilst i have been dealing with this, after reading some of the posts i was expecting quite the opposite.

Any advice would be greatly appreciated.
Thank you

di3004

shallwehaveacoffee wrote: »

Hi Guys, today we have received a letter from Firstplus this is what it said:

I would like to confirm that following a review of the telephone calls available, you were not advise that your loan was conditional on you taking the insurance offered. we confirmed verbally and in writing that the insurance is an optional product.
I have reviewed the details of your complaint and remain satisfied that the details of the ppi were explained to you correctly and information regarding cover was sent to you for your consideration prior to proceeding with the agreement.
i am therefore satisfied that you were provided with enough information to make an informed decision as to the suitability of the policy.
Nevertheless, having considered your complaint the senior managers of Firstplus are willing to reach an agreement with you in an attempt to reach a mutually agreeable outcome.

We would therefore like to offer you an enhanced rebate of the insurance premium of 1,715.94 in addition to the rebate of 356.78 that was included in the settlement figure of your loan.

The enhanced rebate offer is calculated on a pro-rata basis of 78% of the insurance premium and takes into account the policy provided you with cover when your loan was in force (40 months) and the rebate is calculated on the unexpired term at the time you settled(20 months)

I would point out that this additional refund is made with no admission of liability by either the insurers or Firstplus and is purely a gesture of goodwill. I would be grateful if you would confirm acceptance of this offer in writing at your earliest convenience.
xxxxxxxxxxxxxxxxxxxxxxxxxxx

Sorry that was goes on a bit but thought it may be helpful to anyone who can give me advice on whether to take this offer. I would like to point out that the 1st letter received just said a point blank NO! so i wrote back stating the main point of being told the ppi would help our application then this arrived today.
I have to say Firstplus have been very prompt and professional whilst i have been dealing with this, after reading some of the posts i was expecting quite the opposite.

Any advice would be greatly appreciated.
Thank you

Hi there

It seems you have possibly received the standard response that ALL Firstplus complainants received.

I would write back to them if that was the first response hun, keep at them.

I bet that amount they offered is not a lot compared to the real amount.

Give me a few mins, I am going to send you a private message.;)

Di
X

shallwehaveacoffee

No its not much compared to the 7.972.00 we paid

livylegs

thats the exact same letter i got shallwehaveacoffee well different amounts though am unsure what to do aswell.x

simonsmiff

Just got offer for 4,692 pounds. great news. HSBC now want to see me to restructure the existing personal loan without protection at the same interest rate and term.

i'm a bit paranoid i'll be hoodwinked again. what do i need to look out for? i don't want to be trapped in some other nasty way. or is this just standard procedure?

di3004

simonsmiff wrote: »

Just got offer for 4,692 pounds. great news. HSBC now want to see me to restructure the existing personal loan without protection at the same interest rate and term.

i'm a bit paranoid i'll be hoodwinked again. what do i need to look out for? i don't want to be trapped in some other nasty way. or is this just standard procedure?

Wow that is cool Simon, great news and well done :beer: :T :beer: .

Ask them to send you a full written breakdown of this.

This should help, just in case anything is amiss, you can post them on the above reclaiming thread where they will be checked for you if you want to.;)

It maybe standard procedure, but also check on the above Success thread, where others who have had dealings with these may be able to help you as well.;) Good luck X

amersall

livylegs wrote: »

Hiya guys!!
I received a letter from first plus with a offer of £1510.28 which they say is 78% of the insurance premium on a pro rota basis!
letter says this mean an amount of £1510.28 would be applied to your account in addition to the normal rebate of £515.80 on cancellation of the policy!!
however shall accept it and if I do I i dont want it on my account can I say no and ask for a cheque?

oh i they saying its a good will gesture as the still happy I was sold ppi correctly lol

thanks in advance.xx

DO NOT ACCEPT THIS , THE REMAINING PPI IS STILL ON YOUR LOAN FOR THE REMAINING TERM that is a lot to pay back for something you do not have the benefit of, am i correct in thinking this is what you have been offered to cancel? if you can go for mis selling with fos look at this website before you make a hasty decision firstpluscomplaints.co.uk, this site is amazing PLEASE TAKE THIS TO THE END when you look at the website you will know what i mean. good luck and keep us posted.you will be glad in the end you took this advice ( by the way this money will be taken off your account and you wont save much on the monthly premium,) unless this loan has allready been paid up by yourself then you will get it back, but if you go for the long haul you will get all the ppi back with8% interest please hang fire and think about this x