firstplus

carcoti · 26 October 2009 at 6:45PM

hi, i took a loan out with firstplus and am considering claiming the ppi back, im wondering if this is wise to do as i will get my ppi back in 2012, a total of £13,000 if i try to claim it back now and am unsuccessfull will it still pay me my ppi back in 2012? any help is most grateful, this loan is crippling me as im paying £567 a month on it. many thanks.

sunnygirls · 26 October 2009 at 7:02PM

Hi if you believe youve been missold go for it .I have sent a letter claiming missold ppi from first plus im hoping to hear shortly as we are now nearing 12 weeks ,theyve asked for more time and ive decided to wait before taking it any further Good Luck Sunny

di3004 · 26 October 2009 at 7:42PM

Hi there,

In my opinion these Cashback policies are a right rip off, in that 5 years you cannot make a claim, if we did then we would not benefit from it anyway, and for a loan that lasts even longer than 5 years, the ppi would not cover the remainder of the years.

It is absolutely your choice hun, but read a little more on the link below, you will find template letters, useful ppi info with guidelines of reclaiming, and a check list of mis selling reasons, if you want to go this direction, good luck.
And ask for help if required.;)
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

russt2000 · 26 October 2009 at 10:55PM

Carcoti,
best to reclaim, if you are expecting 13000 back, then you are paying a good bit a month for this policy, if you take this money at 5 years , you will still be paying that same full ammount for the remainder of your loan ,depending on the number of years left will be a huge ammount .

So it is in your interest to start the miselling claim
the Ombudsman is up holding nearly 99% of all FP claims ,so it is a safe option as it was rubbish.

carcoti · 27 October 2009 at 8:52PM

thanks for the replies, i think it does make sense to claim it back,

isy1011 · 6 November 2009 at 6:31PM

Good luck. Ive just had letter from First Plus saying that yes I was mis-sold and they are refunding payments etc etc.

di3004 · 6 November 2009 at 6:57PM

isy1011 wrote: »

Good luck. Ive just had letter from First Plus saying that yes I was mis-sold and they are refunding payments etc etc.

Absolutely brilliant :T:T:j:j
Congratulations
:beer::beer::j:j:T:T

marshallka · 6 November 2009 at 7:29PM

isy1011 wrote: »

Good luck. Ive just had letter from First Plus saying that yes I was mis-sold and they are refunding payments etc etc.

Well done, love a win with FP..:j

carcoti · 6 November 2009 at 8:52PM

well done di, i previously read that if you try to reclaim ppi first plus are putting up ure repayments, this is what is putting me off as i simply cant afford a higher repayment.

sunnygirls · 7 November 2009 at 11:11AM

carcoti wrote: »

well done di, i previously read that if you try to reclaim ppi first plus are putting up ure repayments, this is what is putting me off as i simply cant afford a higher repayment.

Hi ive got a claim in with first plus ,that looks like its going to fos but so far my payments havn't gone up Sunny

amersall · 7 November 2009 at 11:44AM

you go for it with first crap( dont you just luv em?) take a look at this website firstpluscomplaints.co.uk then you will have your eyes opened!! as di says if you claim your cash back you will still be paying the ppi for the term of the loan with interest, BIG RIP OFF!!! if you win mis sell all the ppi amount is taken off your loan plus you get back all ppi payments made to date with interest, the loan is then put back in the position it was without ppi and your monthly repayment goes down, thats far better than claiming the cash back and your payment stays the same. good luck with this and keep us posted