FirstPlus PPI reclaim help

jazmac_2

Hi all

Thats it a new letter drafted up tonight to send to firstplus going for the angle that the FOS are holding them responsible for all brokers they used and therefore Firstplus should investigate the claim in full instead of the fob off.

In addition another questionaire will be sent to Central Capital direct in a direct response from Firstplus to see what response i get from them if any.

Will keep ya all posted on my responses.

di3004

jazmac wrote: »

Hi all

Thats it a new letter drafted up tonight to send to firstplus going for the angle that the FOS are holding them responsible for all brokers they used and therefore Firstplus should investigate the claim in full instead of the fob off.

In addition another questionaire will be sent to Central Capital direct in a direct response from Firstplus to see what response i get from them if any.

Will keep ya all posted on my responses.

Good one, fingers crossed.;)

jazmac_2

Hi all

just thought i would post that i have reached my first mile stone received a letter from Central Capital on friday basically refuting all the issues i raised as miss selling bar one which they say they cannot confirm which was that we were not told that the policy would only last for 5 years instead of the seven that the loan lasts for so on that basis they offered a settlement of £1804.04 which they say is to cover the two years after the PPI ends. On my opinion the fact that theyt are offering anything proves that they are in the wrong and the policy on that singlr issue was miss sold.

Of couse i am not accepting this and i am writing the return letter as i type however whay should i be asking for?

The original PPI loan amount is £9796.00 so what should i expect back?

can anyone help with the figure and the calculation as i would like to show how i reaced my figure on the return letter.

Cheers all.

jazmac_2

jazmac wrote: »

Hi all

just thought i would post that i have reached my first mile stone received a letter from Central Capital on friday basically refuting all the issues i raised as miss selling bar one which they say they cannot confirm which was that we were not told that the policy would only last for 5 years instead of the seven that the loan lasts for so on that basis they offered a settlement of £1804.04 which they say is to cover the two years after the PPI ends. On my opinion the fact that theyt are offering anything proves that they are in the wrong and the policy on that singlr issue was miss sold.

Of couse i am not accepting this and i am writing the return letter as i type however whay should i be asking for?

The original PPI loan amount is £9796.00 so what should i expect back?

can anyone help with the figure and the calculation as i would like to show how i reaced my figure on the return letter.

Cheers all.

Oh yes i forgot to add their reply letter also ststed they lisened to the voice recording of the the actual time Approx 4yrs ago, saying at no time this at no time that BLAH BLAH BLAH, i think its just one of their scare monger tactics, however they offered a settlement their in the wrong in my opinion just they settlement is not large enough.

di3004

jazmac wrote: »

Hi all

just thought i would post that i have reached my first mile stone received a letter from Central Capital on friday basically refuting all the issues i raised as miss selling bar one which they say they cannot confirm which was that we were not told that the policy would only last for 5 years instead of the seven that the loan lasts for so on that basis they offered a settlement of £1804.04 which they say is to cover the two years after the PPI ends. On my opinion the fact that theyt are offering anything proves that they are in the wrong and the policy on that singlr issue was miss sold.

Of couse i am not accepting this and i am writing the return letter as i type however whay should i be asking for?

The original PPI loan amount is £9796.00 so what should i expect back?

can anyone help with the figure and the calculation as i would like to show how i reaced my figure on the return letter.

Cheers all.

Hi there

I don't blame you either, keep at them.

I would post up your figures and I think Robbedofmymoney would be happy to take a look at them for you.

If he is not here later I shall send him a pm on your behalf if you want me to.;)

jazmac_2

Excellent well here are my figures taken direct of the Loan agrement if you could PM the chap that would be great as i would like to get this sent off tommorow as they say i only have 6 months to pass to the FOS from the date of the letter.

Ammount of credit - £40,000
PPI Loan - £9796.00
Total Loan - £49,796.00

Over 84 months at - £814.27 when loan was taken out at 01/07/06
with a variable APR of 9.9% and APR of 9.52% on the PPI

Monthly premium of £814.27 made of
Loan = £654.09 over 7 years
PPI = £160.18 over 5 years

Approx amount payable at the time 84 x £814.27 = £68,398.68

These figures have ofcourse went up and down with intrest rates im currently paying £838.88 per month.

Thanks all.

di3004

jazmac wrote: »

Excellent well here are my figures taken direct of the Loan agrement if you could PM the chap that would be great as i would like to get this sent off tommorow as they say i only have 6 months to pass to the FOS from the date of the letter.

Ammount of credit - £40,000
PPI Loan - £9796.00
Total Loan - £49,796.00

Over 84 months at - £814.27 when loan was taken out at 01/07/06
with a variable APR of 9.9% and APR of 9.52% on the PPI

Monthly premium of £814.27 made of
Loan = £654.09 over 7 years
PPI = £160.18 over 5 years

Approx amount payable at the time 84 x £814.27 = £68,398.68

These figures have ofcourse went up and down with intrest rates im currently paying £838.88 per month.

Thanks all.

Not a problem, he may be along later or tomorrow no doubt.;)

I shall send Robbedofmymoney a pm for you with your link.:)

robbedofmymoney

di3004 wrote: »

Not a problem, he may be along later or tomorrow no doubt.;)

I shall send Robbedofmymoney a pm for you with your link.:)

they are trying it on

you want it all back.

so in effect you are claiming the monthly ppi premiums you have already paid, which if the loan is still active will come to

48 monthly payments of £160.18 = £7,688.64

as you believe you have been mis-sold the policy which they have now confirmed as it does not cover the entire loan term you want 8% simple interest on the premiums you have paid for being deprived of your money, this totals approximately £1,255 on top of the £7,688.64 you have paid.

these figures will vary slightly due to the changes in the interest rate, they are currently based on the original agreement figures.

then you want the remainder of the ppi removing from the loan to take your monthly loan repayments down to £654 per month.

i hope this helps,

let us know how you get on
:beer:

jazmac_2

Big thanks i will get straight onto drafting my letter

cheers

di3004

jazmac wrote: »

Big thanks i will get straight onto drafting my letter

cheers

Good ain't he?:D:T;)

Good luck jazmac.:beer: