Reclaiming PPI

annmacdonald

We took out a loan with First Plus in 2003:

Loan amount - £50,000
ppi amount - £12,245
length of loan - 180 months
is it a settled or unsettled loan - settled in 2005
monthly amount payable - £616.31 (including ppi payment)
interest rate - 0.716% per month
apr - 8.9%
Loan start date - 01/08/2003

When we settled in 2005 we had to repay £55,000.

I've sent one of the template letters to First Plus. How much do you think I can claim?

di3004

annmacdonald wrote: »

We took out a loan with First Plus in 2003:

Loan amount - £50,000
ppi amount - £12,245
length of loan - 180 months
is it a settled or unsettled loan - settled in 2005
monthly amount payable - £616.31 (including ppi payment)
interest rate - 0.716% per month
apr - 8.9%
Loan start date - 01/08/2003

When we settled in 2005 we had to repay £55,000.

I've sent one of the template letters to First Plus. How much do you think I can claim?

Hi there

If you copy and paste your post at the reclaiming-discussion thread on top of the page, I am sure someone will take a look for you, Turbo is mainly the one here now that works them out.

Anyway just to give you some sort of example, for just my loan PPI was over £10K and as the loan was settled, we won back almost £13K with interest, also £250 compo for a distress payment, as this was resolved through the FOS.

They must aim to put you back in the postion as if you did not take out PPI, plus interest etc.

It will more than likely work out over the amount of PPI you had on the loan, hope this helps.;)