PPI Reclaiming Discussion part 4

tazladytaz

marshallka wrote: »

Hi, you could ask for the 8% statutory interest too perhaps as i cannot tell that this has been added??? They should put you back into the position as if you never had the PPI but without a breakdown of settlement and details from the loan agreement its slightly impossible to check. It does seems the correct wording though.

Thank you for this. I have checked and they haven't offered the interest. I have worked out the interest should be approx £2300. The letter I received from them has said the money they are offering will be in my bank in 7-10 days. If I am to request the interest must I return the money they are sending me?

marshallka

tazladytaz wrote: »

Thank you for this. I have checked and they haven't offered the interest. I have worked out the interest should be approx £2300. The letter I received from them has said the money they are offering will be in my bank in 7-10 days. If I am to request the interest must I return the money they are sending me?

As they are paying direct into the bank you could try ringing (or better still a recorded delivery letter) them about the statutory interest and state that you want it including as you were deprived of the monies in the first place. They may pay it over to you but you have to work fast (before they actually pay you out) and also have you signed an acceptance from them? Have you requested a breakdown of their redress? Perhaps a good idea to ask for the two (8% statutory interest and breakdown of redress for checking) before they do pay out. Good luck;).

marshallka

lucieloo wrote: »

i am addicted to this site i think its brilliant but after a lot of reading and due to me having loans from first plus in 2001 & 2002 i dont think im going to persue this as it was not goverened by the fsa. so good look all in your ppi claims.

Hi, Firstplus were GISC members since November 2001 so you should be OK if they sold them to you direct and you did not use a broker. If you need any help just shout away. FOS are upholding 99% of FP complaints.

lucieloo

hi thanks. my first loan i took out 6/10/01 2693.00ppi and i repaid it with loan 2 which was took out 20/06/02 4408.20ppi. do you think i should still try?

marshallka

lucieloo wrote: »

hi thanks. my first loan i took out 6/10/01 2693.00ppi and i repaid it with loan 2 which was took out 20/06/02 4408.20ppi. do you think i should still try?

Hi, did you go direct with FP or use a broker? Also you are just before they were GISC members if it was 6/10/01 but you could try complaining about the other one and hope that if they dismiss it FOS will "ask" them to look at the two. FOS knows what FP are like and that is why they uphold most (99%) of their complaints.

Thinking again the first one if it was sold before regulations could be made against the insurer if all is lost but firstly I would try the two with FP and see what they say.

lucieloo

marshallka wrote: »

Hi, did you go direct with FP or use a broker? Also you are just before they were GISC members if it was 6/10/01 but you could try complaining about the other one and hope that if they dismiss it FOS will "ask" them to look at the two.

well this is what im confused with. i phoned first plus direct to arrange the loan, the aggreement has first plus at the top. and my direct debits say firstplus. so im unsure. thanks for your help i was about to give up!!

marshallka

lucieloo wrote: »

well this is what im confused with. i phoned first plus direct to arrange the loan, the aggreement has first plus at the top. and my direct debits say firstplus. so im unsure. thanks for your help i was about to give up!!

NEVER give up where FP are concerned. You will get there one way or another but it will take time perhaps. They do not cave in that easily but that is where FOS come in. If you arranged directly with FP then it is FP you make the complaint against. You need to inlcude the two loans though and they may dismiss them both. Then you have to go to FOS and explain that you had two loans, one of which is Fossible cause it was 2002 (FP were members of the GISC Nov 01) and one was a month before they were GISC members. FOS will either say to leave the two complaints and they will try for you on both or to make one complaint (the earlier loan) against the actual insurer/underwriter as they are trying to make underwriters responsible in cases like your first loan.

lucieloo

marshallka wrote: »

NEVER give up where FP are concerned. You will get there one way or another but it will take time perhaps. They do not cave in that easily but that is where FOS come in. If you arranged directly with FP then it is FP you make the complaint against. You need to inlcude the two loans though and they may dismiss them both. Then you have to go to FOS and explain that you had two loans, one of which is Fossible cause it was 2002 (FP were members of the GISC Nov 01) and one was a month before they were GISC members. FOS will either say to leave the two complaints and they will try for you on both or to make one complaint (the earlier loan) against the actual insurer/underwriter as they are trying to make underwriters responsible in cases like your first loan.

thanks ever so much i really appreciate your help. so just to clarify the fos can look at this?

marshallka

lucieloo wrote: »

thanks ever so much i really appreciate your help. so just to clarify the fos can look at this?

I cannot see why FOS would not be able to help with the second agreement as this was taken out in 2002 but the first one is "arguable" by FP as taken just before they became members of the GISC. Perhaps you could ring the FOS and see what they say but I really cannot see how they can refuse the second loan. The first loan can still be claimed if missold but "may" need to go through the insurers route. I would explain the situation to them and see what they say.

lucieloo

marshallka wrote: »

I cannot see why FOS would not be able to help with the second agreement as this was taken out in 2002 but the first one is "arguable" by FP as taken just before they became members of the GISC. Perhaps you could ring the FOS and see what they say but I really cannot see how they can refuse the second loan. The first loan can still be claimed if missold but "may" need to go through the insurers route. I would explain the situation to them and see what they say.

thanks i will carry it through now i have spoken to you. i will keep you updated and thank you very much.