Help with First Plus/Bespoke PPI

yvonne90

Hi,

We took out a secured loan with First Plus in Feb 2004 and have just started the claim process for mis-sold PPI. We sent the PPI questionnaire off to First Plus and have had a reply this morning which is puzzling us a little.

They say the original loan was brokered by a company called Bespoke (who we have never heard of!) and enclosed a copy of the loan application form with their letter. This form has Freedom Finance at the bottom of it, not Bespoke. On the copy of the form is a sticker or stamp conveniently located over the PPI figure which says Karakus (again not someone who we've heard of).

First Plus says we need to go to the FSCS for compensation as it's nothing to do with them and Bespoke have now ceased trading.

Are First Plus trying to pull a fast one and wriggle out of the claim? Where do we go next? Do we go to the FSCS or do we need to be firmer with First Plus? I'm trying to avoid using a CMC but I'm wondering if in our case that may be the better option?

Thanks in advance for your help.

Yvonne

marshallka

As this was 2004 then the FSCS cannot help you. You really need to get the complaint against the actual insurer. This should be in your insurance documents (if you have them) or ask Firstplus to send them to you. It would be most probably Lloyds of London/Cassidy davis now Jubilee insurance or Barclays dublin. I would give FOS a ring and ask them but I am sure this is the correct direction.

You will however have to log a complaint against the insurer in the usual way and give them 8 weeks to look into it and if they do not uphold it then you should be OK taking to FOS.

Can I ask how "your" remember taking out the loan? Are you confused that perhaps it was sold direct by FIrstplus and not any broker? Lots in the same boat and something needs doing.

yvonne90

Hi Marshallka,
I'm pretty sure we may have gone through freedom finance who then referred us to first plus - I'm completely 100% certain that absolutely nowhere was Bespoke/Karacus mentioned to us and nor did we phone/speak to anyone from a company with those names. How does the insurer end up being the one that has to deal with the complaint when it's not actually their company that sold it to us?

It's just so annoying, the PPI and interest has added thousands on to our loan, which is still active and will be for the next god knows how many years and it wasn't something we ever needed in the first place, nor would we have qualified to claim on it because my husband has an ongoing medical condition but we were told we wouldn't get the loan if we didn't take it. It's only with all the media attention that we've realised what went on with it.....

amersall

Think this is a trend at the moment with FP. there is someone on the FPcomplaints website who is having the same problem, he has paperwork for freedom finance, pays loan through FP but it was really Bespoke?.
This sounds well dodgy to me.

markyboy1969

hello all

can anyone please give me the First Plus Postal Address for sending the REclaim Letter to.

thanks

marshallka

Freedom Finance will only say that they were processing on behalf of Bespoke and that Bespoke are to blame. Firstplus will tell you that although it was their policy it was not sold by them so nothing to do with them (although it is a policy that says Firstplus on the heading).

I think someone else posted that Bespoke had apparently gone into liquidation but they are not listed in the Gazette although don't know how this would work as they are based in GIB but hold a CCL here in the UK?

As regards Freedom someone else posted that they had gone bump too although nothing in the Gazette again AND they are still active on Companies house so don't think that is true??? Perhaps you could write to Freedom and see what they say? Otherwise you could always go the insurer way.

The disclaimer is on Freedoms webpage saying they process loans on behalf of Bespoke.

Also on companies house with regards to Freedom it says

Last Accounts Made Up To: 30/04/2010 (DORMANT)

marshallka

Just found this

http://www.thebusinessdesk.com/mobile/northwest/news/170840-ppi-climbdown-pushes-wilmslow-financial-into-administration.html?news_section=4148

WILMSLOW Financial Services, the finance company handling a backlog of PPI cases lodged against its former Freedom Finance loan broking business, has been placed into administration.

http://www.fscs.org.uk/news/2011/may/wilmslow-financial-services-ltd/

• Wilmslow Financial Services Ltd

Wilmslow Financial Services Ltd

24th May 2011
The Financial Services Compensation Scheme (FSCS) is aware that Wilmslow Financial Services Ltd has been put into administration. The FSCS is investigating how it is able to help consumers that have lost money through dealing with the firm.
The company was an insurance broker whose main focus was providing Payment Protection Insurance (PPI). Customers of the firm do not need to contact the FSCS.
We will publish an update on Wilmslow Financial Services as soon as more information is available.
The FSCS protection for insurance broking is 90% of any eligible claim with no upper limit.

Although this is to do with Loans sold by Wilmslow and looks like Freedom is still active? They are a very confusing firm to deal with. And I would say that the FSCS will only deal with claims for PPI sold AFTER 14th Jan 2005???

Going by companies house this is the firm in administration
Name & Registered Office:
WILMSLOW FINANCIAL SERVICES PLC
FREEDOM HOUSE
CHURCH STREET
WILMSLOW
CHESHIRE
SK9 1AX
Company No. 01780977

Status: In Administration
Date of Incorporation: 28/12/1983

Insolvency History Previous Names:
Date of change
Previous Name
23/02/2001WILMSLOW FINANCIAL SERVICES LIMITED
28/01/2010FREEDOM FINANCE PLC
29/11/2002FREEDOM FINANCE LIMITED


And yet this one is still active

Name & Registered Office:
FREEDOM FINANCE LIMITED
FREEDOM HOUSE
CHURCH STREET
WILMSLOW
CHESHIRE
SK9 1AX
Company No. 02973364
Status: Active
Date of Incorporation: 04/10/1994

Previous Names:
Date of change
Previous Name
05/10/2000QUOTE MANAGER LIMITED
28/01/2010WILMSLOW FINANCIAL SERVICES LIMITED
23/02/2001FREEDOM FINANCE LIMITED

yvonne90

Hmmmm, I wonder if we would be classed as a customer though. The loan application was filled in through FF but the loan is and always has been with FP. I've had a look on FP's website and the insurer for PPI policies pre 2005 was Cassidy Davis. I've email the FOS for advice on how to proceed/who to chase explaining the predicament.

I personally have a feeling that FP, FF and Bespoke must have been linked in some way at that time and with all the media attention about PPI have tried to distance themselves from each other and pass the buck to the other companies sending people round in circles.

marshallka

yvonne90 wrote: »

Hmmmm, I wonder if we would be classed as a customer though. The loan application was filled in through FF but the loan is and always has been with FP. I've had a look on FP's website and the insurer for PPI policies pre 2005 was Cassidy Davis. I've email the FOS for advice on how to proceed/who to chase explaining the predicament.

I personally have a feeling that FP, FF and Bespoke must have been linked in some way at that time and with all the media attention about PPI have tried to distance themselves from each other and pass the buck to the other companies sending people round in circles.

They may well have done. It seems that Freedom change their name like we do our underwear. I think even the authorities will have trouble acertaining who is to blame and what company you had dealt with with this/these companies.

yvonne90

Freedom are definitely still about... I live about 20 mins from Wilmslow and their offices are huge, you can't miss em. Maybe I should go camp out on their doorstep lol!

amersall

markyboy1969 wrote: »

hello all

can anyone please give me the First Plus Postal Address for sending the REclaim Letter to.

thanks

Is your loan with FP or a broker and what year did you take the ppi out?.

Customer Care Team
Firstplus Financial Group Plc
The Avenue Business Park
Pentwyn
Cardiff
CF23 8FF