PPI on Firstplus Loan

thunders79

Hi

We had a loan with Firstplus about four years ago and I know we were misold the PPI on the loan but it was taken out via a broker.

I remember about a year ago I wrote to Firstplus stating my complaints again their miselling and they sent me a letter back stating that we didn't take the loan directly with them but through the broker so we needed to take the matter up with them.

I can't remember who the Broker was at this minute (will need to dig deep through all my old paperwork) however, i do remember getting a letter back from the broker saying that the company went bust and they were trading under a new name and were unable to help etc.

My question is, how do I go about starting this claim up again? who should be my point of contact? the broker, firstplus, fos or FSCS? i'm confused. I was going to just let it go as it all seemed too complicated but I'm not reading all these posts on here and thinking we were misold it so why shouldn't we have our money back like everyone else. The PPI was for about 9k as the loan was 50k!

All help appreciated.

Thanks

di3004

thunders79 wrote: »

Hi

We had a loan with Firstplus about four years ago and I know we were misold the PPI on the loan but it was taken out via a broker.

I remember about a year ago I wrote to Firstplus stating my complaints again their miselling and they sent me a letter back stating that we didn't take the loan directly with them but through the broker so we needed to take the matter up with them.

I can't remember who the Broker was at this minute (will need to dig deep through all my old paperwork) however, i do remember getting a letter back from the broker saying that the company went bust and they were trading under a new name and were unable to help etc.

My question is, how do I go about starting this claim up again? who should be my point of contact? the broker, firstplus, fos or FSCS? i'm confused. I was going to just let it go as it all seemed too complicated but I'm not reading all these posts on here and thinking we were misold it so why shouldn't we have our money back like everyone else. The PPI was for about 9k as the loan was 50k!

All help appreciated.

Thanks

Hi there

Yes if the broker are no longer active, went bust etc then you contact the FSCS, ask if they are listed with them and if so you can go through these, they will send you a claim form, you complete and send anything you have in copies, such as an agreement etc, anything even if its lenders paperwork.
http://www.fscs.org.uk/contacts/

I would contact FP to ask who the broker is.;)

di3004

Sorry I forgot to mention, it is that of the broker you pursue this with, but if they are not running anymore then you do this through the FSCS.

Also just to give you more of an idea, there is a link here, if the company/broker are already in default, then payouts should not take long with the FSCS, otherwise you can still continue with your claim with the FSCS, and wait then for them to be declared in default.
Check this link here:
http://forums.moneysavingexpert.com/showthread.html?t=1897143