Central Trust PPI

sparky70

I took out a loan of £18000 with first plus which was arranged by central trust and was sold PPI of 4408
The loan was settled in 2007
I wrote to Centarl Trust eight weeks ago about being missold the PPI and received a letter which said the sales person had not provided sufficent information regarding certain aspects of the PPI during the applicant and they have offered me a goodwill gesture of £2400 i need advice?? do i take this or continue to the FOS to try and reclaim for a full refund but would i lose the offer

Thanks;)

di3004

sparky70 wrote: »

I took out a loan of £18000 with first plus which was arranged by central trust and was sold PPI of 4408
The loan was settled in 2007
I wrote to Centarl Trust eight weeks ago about being missold the PPI and received a letter which said the sales person had not provided sufficent information regarding certain aspects of the PPI during the applicant and they have offered me a goodwill gesture of £2400 i need advice?? do i take this or continue to the FOS to try and reclaim for a full refund but would i lose the offer

Thanks;)

Hi there,;)

In my personal opinion I would try to the full whack of the PPI and the interest and still hold them responsible for mis selling, as they are offering you a goodwill gesture, they are stating they have not mis sold the product to you.

It is up to you though, but if this was me I would be telling them that I still believe I was mis sold and request you refund me the whole of the PPI, the interest and the extra 8% interest of what a court would award, or if they could at least higher the amount for you to consider.

If they do not do this you can always ask the FOS to investigate, but be aware it can take some time with the FOS, due to the high volumes of these complaints.
Good luck on what you decide, please keep us posted, cheers.;)

sparky70

Just to keep you updated i sent a letter back to Central trust to tell them i would not accept there offer and i was going to the FOS which they have now received my claim form, i`ve since received a letter offering the full premium back less rebate when i settled the loan, my question is do i write back to them to ask for the interest on the premium + the 8% or wait for the FOS to investigate???;)

marshallka

sparky70 wrote: »

Just to keep you updated i sent a letter back to Central trust to tell them i would not accept there offer and i was going to the FOS which they have now received my claim form, i`ve since received a letter offering the full premium back less rebate when i settled the loan, my question is do i write back to them to ask for the interest on the premium + the 8% or wait for the FOS to investigate???;)

I would always ask for the 8% to be included. What is the wording of the letter. Have they mentioned the interest on the premium too?

sparky70

Thank you for your reply, the letter stated i would be getting back my full premium less the rebate on the ppi when i settled the loan it has no mention of the interest on the ppi

marshallka

sparky70 wrote: »

Thank you for your reply, the letter stated i would be getting back my full premium less the rebate on the ppi when i settled the loan it has no mention of the interest on the ppi

hmmm. difficult.. I would ask that they put you back into the position as if you never had the PPI and 8% statutory interest and see what they say or ask about the two different interests and say that you assume they mean these are included. ..

Alway do this in a letter and not in phone call and send by recorded delivery I have seen this before and it is exactly that, just the premium less the rebate..when exactly did you take the loan out?

sparky70

the loan was taken out in may 2005 and settled in june 2007

marshallka

sparky70 wrote: »

the loan was taken out in may 2005 and settled in june 2007

Great, you have no probs with the Ombudsman then if they do not give you the whole lot back. I would just ask that you want to be put back into the position as if you never had the PPI and nothing less and 8% statutory interest and take it from there. They may cave in.;)

sparky70

thank you again, they have given me a email address to send to do you think i should send a email to see what response i get or just post my letter back??;)

marshallka

sparky70 wrote: »

thank you again, they have given me a email address to send to do you think i should send a email to see what response i get or just post my letter back??;)

You could but perhaps put "hard copy" in the post.

With post service as it is at the moment may be quicker.

sparky70

new update, I sent a letter with what i thought i should be entitled to and received a letter back saying it has been refused (which i knew it would) but on this letter it stated what there offer would be withdrawn if i went to the FOS ( which i have) and any decision the FOS Make would be binding upon them, is this a scare tactic ??