Broker or Lender

marshallka

You will both have three different firms involved in the loan and PPI. Your broker will have sold it and according to FOS it is them that you make the complaint against. Then there is the lender who takes all your repayments and its the lender that actually gave you the loan for the PPI in one lump sum and then there is the insurer who should accept some liability for anyone selling their insurance. Also the policies are headed "FIRSTPLUS" so surely again the insurer is allowing Firstplus to use their name in relation to their insurance so ONE of them should be held responsible and often its only the insurer that is actually regulated for earlier loans. Its the insurer that writes the terms of the policy whereby if you settle the loan early you will not get a proportional rebate back and that alone is unfair. Its a mess with all these companies and annoying that someone like the FOS cannot determine who is responsible for what. If they cannot tell this from all the details they have then how the hell can we as consumers. I just hope we all get somewhere.

sue149

last letter off f/p stating again it is norton fault and even sent me a copy of the agreement we did with norton when we went in for the loan

ANY_CHANCE

sue149 wrote: »

so f/plus did actually offer you something them not norton

Yes thats right, FP offered a rebate ( in moments of weakness sometimes i wonder if i should just accept it, times are tough)

Norton said thay did not mis sell. I sent my complaint to FOS who said that they could not look at the case as Norton wernt under them at the time:rolleyes:

marshallka

ANY_CHANCE wrote: »

Sue that is exactly my situation re norton and FP

I settled my loan with FP and have complaint re unfair rebate with FOS which has been with them over a year as i would not accept FP offer of what was in the end not even 50% of what i have paid out for the PPI.

So frustrating

Any Chance, why have you not gone for misselling as your loan would have been covered (either through broker or lender) as this was taken out May 2005 and ALL insurance was regulated since January, 2005????

If you have sent this into the FOS have you mentioned misselling too???

ANY_CHANCE

In my opinion Front loaded PPI such as the one FP gave should be refunded to all, it was a product that should never have been allowed. Totally unfair.

I would love to know was there anyone who took out a first plus loan who didnt have the PPI? I would be surprised if there was

marshallka

My PPI total was £9K nearly. I actually paid it for 39 months and then settled and upon settlement an amount (which was PPI and interest on the PPI too) of near on £4K was charged for a policy no longer of use. I realise when FP offer their enhanced rebate now of 78% they do not include the interest on this so it would not have been 78% of the 4K but it would still amount to a couple of grand and that is what i want. If FOS include the interest then all fair well and good but they told me it was the insurer that i made the complaint to about the rebate. They just now have to get them to accept the complaint and that is the problem.

Both the broker and lender were not regulated at the time of the loan and then although FP were regulated when I settled they say that they are not reponsible for the rebate and they cannot make a complaint against them. I assume your insurers were Barclays??? Mine was an older policy and it was ultimately Lloyds of London.

ANY_CHANCE

marshallka wrote: »

Any Chance, why have you not gone for misselling as your loan would have been covered (either through broker or lender) as this was taken out May 2005 and ALL insurance was regulated since January, 2005????

If you have sent this into the FOS have you mentioned misselling too???

Hi i did send my initial complaint regarding mis selling to FOS and had a letter returned saying that they could not even look at it because noton were not regulated by them, so of course i just beleived what they said then sent my complaint regarding unfair rebate.

marshallka

ANY_CHANCE wrote: »

In my opinion Front loaded PPI such as the one FP gave should be refunded to all, it was a product that should never have been allowed. Totally unfair.

I would love to know was there anyone who took out a first plus loan who didnt have the PPI? I would be surprised if there was

Any Chance, there was someone on the loan thread the other week that I asked this to and they replied they did not have PPI. I find it hard to believe actually and I even (my evil mind) thought they were perhaps a "mole" just to prove that you can have a FP loan without it.

marshallka

ANY_CHANCE wrote: »

Hi i did send my initial complaint regarding mis selling to FOS and had a letter returned saying that they could not even look at it because noton were not regulated by them, so of course i just beleived what they said then sent my complaint regarding unfair rebate.

But if your loan was taken after Jan 2005 (taken out that is and not settled) then you CAN make the complaint about misselling as ALL (EVERY SINGLE POLICY SOLD AFTER THEN) were regulated.

marshallka

Norton Finance Limited were appointed representatives of Norton Insurance Services so they were actually their principles. I remember someone else having the same probs with this and FOS returning the forms. They had to admit they were wrong and it was resubmitted.