response from first plus

carcoti

hi iv had a response from first plus after sending the 1st template letter off saying i thought the salesperson was pushy in selling us the ppi on the loan, they have sent me a 4page letter of the conversation that occured when we applied for the loan, looking through this we were not mis sold as first thought. although i do think we went into it with our eyes closed, i wish i had had more sense, anyway i dont think i have a case. does anyone have any thoughts on this? i think maybe i am stuck with this for the rest of my life, also , because i sent the first letter will it exclude me from the 5yr payout? have never made a claim or late payment on it. thank you for taking the time to read my post.

di3004

carcoti wrote: »

hi iv had a response from first plus after sending the 1st template letter off saying i thought the salesperson was pushy in selling us the ppi on the loan, they have sent me a 4page letter of the conversation that occured when we applied for the loan, looking through this we were not mis sold as first thought. although i do think we went into it with our eyes closed, i wish i had had more sense, anyway i dont think i have a case. does anyone have any thoughts on this? i think maybe i am stuck with this for the rest of my life, also , because i sent the first letter will it exclude me from the 5yr payout? have never made a claim or late payment on it. thank you for taking the time to read my post.

Hi there

I think with it being a loan where they throw in the PPI in on top, and it only protects you for 5 of those years, they are a rip off, because if your loan was longer than that, then you would still be paying for this for the life of your loan, in other words your loan would not be protected after 5 years anyway.

Did they explain this in the conversation?

If not then write back and tell them that, and can you remember any of the conversation?
I would ask them to send you the recorded disc for this as well.

Ask them to reconsider with your reasons.

These type of policies are frowned upon anyway, so keep at them, good luck, please keep us posted.;)

Juneno

Hi there!
Don't give up! You definitely have a case! I have just got my money back from them today in fact and I wrote my first letter in October last year.
They tried to fob me off with a similar letter to yours but I knew better thanks to the clued up people at the firstpluscomplaints.co.uk website. I advise you go there as these guys are exclusively dealing with the bad practises of FP and have a font of knowledge - I couldn't have done it without them!
I asked for my SAR after the fob off and then wrote a strong letter demanding that they either give me a final response so I could go to the ombudsman or settle my complaint. They settled.
It takes time but you will win. The FOS are upholding 99% of cases brought against FP and they know it so are settling (although they say in their letters that they still don't believe they mis-sold, but since they are nice people they'll refund you!)
Good luck - but keep going please!
Cheers,
June

marshallka

LIke the posters above say, DO NOT GIVE UP. Did FP explain to you that by having this PPI (even if you did agree!!) it would in fact be paid to the insurer upfront by way of you having another loan for the Premium. This would then mean that it would be treated the same as your existing loan and would incur interest for all the years that your original loan ran for making it very costly. DId they also explain that this would only cover your loan for 5 years? Did they also explain that after 5 years (which they sometimes - well most of the time - ) you would get it back anyway so a "sort of savings plan type thing". Well I bet they did not explain that all though you get the "premium" back after 5 years if you do not make a claim, you would still have ALL the interest to pay on it.

A total rip off and the usual reply which CAN put some off but don't be put off and carry on your complaint.

FOS are upholding 99% of FP complaints... I wonder why????

Good luck