Firstplus PPI - Need advice?

Almost_There_3

Hi,

We have a PPI Policy with firstplus which is due to pay back the 5 year premium in June this year. We (along with everyone else it seems) believe this policy was mis-sold and after some success with RBS we think its time to get our money back from FP.

The question is though, do we wait and collect the 5 year premium payment or do we start proceedings now? Could starting reclaim proceedings delay the payment we are due in June, or worse still deny us the right to that money?

Any advice please?

di3004

Almost_There wrote: »

Hi,

We have a PPI Policy with firstplus which is due to pay back the 5 year premium in June this year. We (along with everyone else it seems) believe this policy was mis-sold and after some success with RBS we think its time to get our money back from FP.

The question is though, do we wait and collect the 5 year premium payment or do we start proceedings now? Could starting reclaim proceedings delay the payment we are due in June, or worse still deny us the right to that money?

Any advice please?

Hi there

Your doing the right thing here.

I am about to send you a private message, please keep a check on your PM box cheers.;)

holly22

we too are in the same position as you.
Ours is due in May.....keep me informed and i will you.

Stillsmiling

Mine was due next year but I complained about mis-selling and got a paltry offer from Worst Plus. I then took it to the ombudsman and a year later they have told Worst Plus that they have to reset the loan to how it would be if I had not taken PPI and refund me all the PPI I've paid plus interest. Admittedly I don't have the money yet but they have agreed to it.

So my thinking would be - why wait?

Almost_There_3

Stillsmiling wrote: »

Mine was due next year but I complained about mis-selling and got a paltry offer from Worst Plus. I then took it to the ombudsman and a year later they have told Worst Plus that they have to reset the loan to how it would be if I had not taken PPI and refund me all the PPI I've paid plus interest. Admittedly I don't have the money yet but they have agreed to it.

So my thinking would be - why wait?

Well, thats the thing. We are planning a holiday this year in september and the guaranteed 5 year pay out will come in very handy. Im not sure I want to fight this for a year right now and potentially lose the chance to go on holiday. Not when I could take the payout and thn fight it??

savvykaz

Hi we too are in the same boat - due £8,000 in July. I am dreading them refusing to pay up for some reason. We have never defaulted on the loan, nor made a claim, so we are hoping they will honour the t&cs in our contract.

Stillsmiling

Almost_There wrote: »

Well, thats the thing. We are planning a holiday this year in september and the guaranteed 5 year pay out will come in very handy. Im not sure I want to fight this for a year right now and potentially lose the chance to go on holiday. Not when I could take the payout and thn fight it??

I can't see why there is any reason why you can't complain about it and if it isn't resolved quickly then claim the refund. Just watch them, they made me a pathetic offer and said they would then cancel the PPI. I told them to go jump and I was taking it higher. Few days later I got confirmation of the refund and cancellation of my PPI policy! I hit the roof and they backed down immediately, apologised profusely and within a week I had written confirmation that the policy had been reinstated (I didn't think that was possible!) and the pathetic offer taken back from my loan - where they had paid it. Having said that it was a nice thing to write on the FOS complaint form...

Though of course you could wait - if it makes you more comfortable.
Just remember that a complaint is no reason not to pay out.....

Almost_There_3

Almost_There wrote: »

Well, thats the thing. We are planning a holiday this year in september and the guaranteed 5 year pay out will come in very handy. Im not sure I want to fight this for a year right now and potentially lose the chance to go on holiday. Not when I could take the payout and thn fight it??

Decided to just go for it. Letter sent away to them last week. Expecting them to tell me to get lost - actually I'm hoping they do. Im really looking forward to fighting them for this!

Almost_There_3

savvykaz wrote: »

Hi we too are in the same boat - due £8,000 in July. I am dreading them refusing to pay up for some reason. We have never defaulted on the loan, nor made a claim, so we are hoping they will honour the t&cs in our contract.

Hi, make sure you continue speak to them regardind the dates for claiming the money. I have heard that if you miss the 30 day window then the money will be put towards your outstanding loan amount.