Help with First Plus/Bespoke PPI

src007

yvonne90 wrote: »

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.

This is the biggest scam I've heard of regarding PPI and its happened to many people.

FirstPlus (based in Wales I believe) financed the loan.The sale of FirstPlus PPI almost always gets classed as mis-selling at the FOS (FirstPlus often lose 99% of insurance complaints against them).

Freedom Finance based in England sold the loan however they didn't sell you the insurance. It was Bespoke Finance (also called Karacus) that sold you the PPI. Although you might not of known it, they were selling you it from Gibraltar!!!

Freedom Finance surely must have known they were doing something wrong, when they were selling it through a company on the edge of Spain!

As well as this Barclays Insurance Dublin were involved and they were based in Ireland for tax avoidance reasons.

http://www.bankingtimes.co.uk/2007/10/22/barclays-foots-300m-bill-for-ppi-tax-avoidance/

Barlcays also own FirstPlus.

An international merry-go-round of scamming. :rotfl:

I really don't how this was allowed and I've yet to hear of anyone who's got their money back.

But there's an outside possibility of success against the underwriter throught the FOS, as I think has been mentioned earlier. Although the underwriter will argue they can't be held responsible, as will every other company listed above.

marshallka

Seems with the "Freedom/Wilmslow companies there is a lot of confusion about them being a Limited company OR a Public Limited Company too. I noticed that the FSCS have it listed as a Limited Company and yet the one on Companies house says its a PLC that has gone into administration?

Don't know the significance of this but just noted.

Just a little bit of jargon busting here

http://tutor2u.net/business/gcse/organisation_limited_companies.htm

marshallka

Yep, the insurer route src007. I think that even though the FSCS are dealing with some complaints (or will be in time) it will be a case of Bespoke sold the insurance.

The OP was sold in 2004 so has to be the Insurer route here as the FSCS will not be able to deal with any complaint of a policy sold prior to 14th jan. 2005

amersall

Just a thought people, if this insurer was in gibraltar will they be in FOS jurisdiction?.
I remember from a while ago now someone on here was trying to get ppi from insurance in gibraltar and had no success from what i remember.

marshallka

amersall wrote: »

Just a thought people, if this insurer was in gibraltar will they be in FOS jurisdiction?.
I remember from a while ago now someone on here was trying to get ppi from insurance in gibraltar and had no success from what i remember.

The insurer will no doubt be Cassidy Davis (now Jubilee) and it was through a LLoyds syndicate pre 2005 and then it was Barclays after. Lloyds of London are not in GIB and I think FOS will tell the OP to make the complaint to them.

yvonne90

The insurer is definitely Cassidy Davis. Has anyone had any dealings with them for PPI complaints?

Also, does anyone know do I write to Cassidy Davis based in Hemel Hempstead (which shows on google, not sure if it's the right company...?) or do I write to Jubilee's head office?

Thanks
Yvonne

amersall

I would send it recorded to head office.

marshallka

yvonne90 wrote: »

The insurer is definitely Cassidy Davis. Has anyone had any dealings with them for PPI complaints?

Also, does anyone know do I write to Cassidy Davis based in Hemel Hempstead (which shows on google, not sure if it's the right company...?) or do I write to Jubilee's head office?

Thanks
Yvonne

I had a rebate complaint against them but FOS wrote for me and my reply was from Society of LLoyds (Lloyds of london and nothing to do with LLoyds Bank!!). Its best to ask FOS where to write or let them write for you. Society of Lloyds have there own internal complaints procedure you have to follow. Its quite confusing really. Cassisdy Davis are now Jubilee insurance and they were a LLoyds syndicate.

yvonne90

Thanks Marshallka, how did you get FOS to write to them on your behalf? Do you just ask them to take the complaint up for you? I assume this means that you would only receive the PPI amount back from Cassidy Davis and that the original FP loan would end up the same i.e. not put back to the place it should be if you'd never had PPI in the first place or will the FOS also make FP amend the loan? Sorry for all the questions, this is completely doing my head in and seems to go around in circles!

marshallka

yvonne90 wrote: »

Thanks Marshallka, how did you get FOS to write to them on your behalf? Do you just ask them to take the complaint up for you? I assume this means that you would only receive the PPI amount back from Cassidy Davis and that the original FP loan would end up the same i.e. not put back to the place it should be if you'd never had PPI in the first place or will the FOS also make FP amend the loan? Sorry for all the questions, this is completely doing my head in and seems to go around in circles!

I would just tell the FOS about the broker being in administration and tell them who the insurer is and they will advise your next step.

As regards the redress I have no idea on that one as there are a few with insurer complaints and no-one has posted as yet about winning although the complaints are mostly/all in the hands of FOS. They are "trying" to get insurers to take responsibility in cases like this one so its all new to them.