FSCS success + cancellation of policy within 90 days to get refund of NCB ?

amersall

leesykoi wrote: »

Hi Amersall,

Thanks for the replies.

In my case FP have stated i will NOT get the NCB if i cancel the policy and in the letter from the FSCS they were quite clear that they would refund me my NCB. The main thing is that they have NOT quantified anything.

My main question is to check if anyone has claimed their NCB from the FSCS after cancelling their policy ?

Thks.

Lee.

Give FSCS a ring and tell them what FP have said to you, this is bunkem!!!!.
I take it this was not through FP but a broker (it would not be with FSCS if it were) then FP cannot say you wont get the ncb back if you cancel,the FSCS will compensate this to you, so FP need to get lost!!.

BBJay246

I'm still waiting for my PPI cancellation quote from FirstPlus!!! 7 - 10 days they told me, that was 2 weeks ago...i'll give them until the end of the week before I call these muppets again.

Lee, how long did it take FP to send you the PPI cancellation quote?

I agree with Amersall, surely if FSCS have ruled that we have been mis-sold PPI from a broker (mine was Loanmakers...now in liquidation) then First Plus cannot refuse NCB payout as this will come from the FSCS anyway.

Are they trying to say that if we cancel the PPI with FirstPlus then we are in breach of the T's & C's and are not liable for NCB payout? How can we be in breach if we were mis-sold the PPI in the first place!!

I'll keep this thread updated with details of my FP dealings

leesykoi

FP stated they would not honour the NCB if i cancelled the policy and every time i ring the FCSC they do their very best to not answer my questions. Last contact i had they just said to ask in writing on what my refund would be ? I totally understand FSCS not wanting to make decisions for people but i find the vague non quantitive answers very frustrating when trying to make an informed decision. I'm almost 100% now that i am going to cancel the policy and claim from the FSCS (hope it's the ring decision as i'm literally making a decision on gut instinct).....

leesykoi

Oh sorry Jay, FP took about 2wks !!!

amersall

leesykoi wrote: »

FP stated they would not honour the NCB if i cancelled the policy and every time i ring the FCSC they do their very best to not answer my questions. Last contact i had they just said to ask in writing on what my refund would be ? I totally understand FSCS not wanting to make decisions for people but i find the vague non quantitive answers very frustrating when trying to make an informed decision. I'm almost 100% now that i am going to cancel the policy and claim from the FSCS (hope it's the ring decision as i'm literally making a decision on gut instinct).....

Why are you asking FP this when they did not sell you the ppi?, this is odd.
I can tell you now the refund From FP if you cancel the ppi will not be a huge amount.
The FSCS should (if they go by past compensations) give you the ppi back,at least a better return than you would get from FP.

leesykoi

Hi Amersall,

Sorry this has gone slight astray. I did not ask FP to refund me my NCB, this is going through the FSCS as it was a brokered deal with someone who is in default. I've made the decision to cancel the PPI and put my faith in FSCS to claim my NCB !!!

I will let you know how i get on.

Lee.

leesykoi

For clarity (and my sanity) i thought i would ring the FSCS a final time as they had not replied to my earlier letter.

Managed to speak to a helpful chap called Damion who fielded my questions particularly well but still would not confirm the level of NCB refund available.

Upon chatting a bit more (i work in Business Development) i managed to get him to confirm that i would be entitled to a full refund as detailed in my decision letter.

Now how quick can i write this to FP to tell them to cancel their utterly worthless policy !!!!

I will let you know what the FSCS come back with.

Thks.

Lee.

amersall

leesykoi wrote: »

For clarity (and my sanity) i thought i would ring the FSCS a final time as they had not replied to my earlier letter.

Managed to speak to a helpful chap called Damion who fielded my questions particularly well but still would not confirm the level of NCB refund available.

Upon chatting a bit more (i work in Business Development) i managed to get him to confirm that i would be entitled to a full refund as detailed in my decision letter.

Now how quick can i write this to FP to tell them to cancel their utterly worthless policy !!!!

I will let you know what the FSCS come back with.

Thks.

Lee.

Hooray :jat last, dont forget to send letter recorded, do not trust FP to say they got it :p:D

At least you now know what you get, you can now advise other FSCS claimants

leesykoi

amersall wrote: »

Hooray :jat last, dont forget to send letter recorded, do not trust FP to say they got it :p:D

At least you now know what you get, you can now advise other FSCS claimants

Will do, as soon as i get further detail from FSCS i will update this thread so others can get the benefit on what is quite a grey area when dealing with the FSCS.

Letter is going first thing tomorrow to FP (recorded delivery of course) !!

BBJay246

Update:
Received my cheque from FSCS today for interest (replacement as previous one did not arrive!!!). I called them to confirm that I could cash it whilst waiting for PPI cancellation letter from FirstPlus (for NCB) and they said I could :T

Yes, almost 3 weeks and still no cancellation quote from FP!! I called them and asked where it was only to be told "it was posted to you on 7th June"....I've been checking the postie for the past 3 weeks...nothing

FP will resend the quote asap but not holding my breath!

Any luck with yours Lee?