loans via a broker and claiming back PPI

miller18lynn

my husband and I took out a loan that was done via the post and phone. It was with First Plus, however when we sent the claim form to them for the PPI we did not want they wrote back saying that we were sold the loan via a company called Freedom Finance. They have passed our complaint onto this company. On checking our paperwork we have nothing with this name on it Where do we go from here.

ALIBOBSY

Some companies are trying to fob claims off with the broker arguement. Write back and point out that you don't recall any broker, but that in any case a broker just introduced you to the lender and was acting as their representitive in the sale. Point out that it is to first plus who you pay your premiums to and it is them who have had the benefits of the payments and any interest, state you expect them to investigate and give a final response so you can proceed either to court or the FOS.

Ali x

roonaldo

It doesnt matter who you pay premiums to, if you are claiming mis-sale you need to complain to who sold it. If a broker is involved, they are responsible for the sale.

Alpine_Star

miller18lynn wrote: »

my husband and I took out a loan that was done via the post and phone. It was with First Plus, however when we sent the claim form to them for the PPI we did not want they wrote back saying that we were sold the loan via a company called Freedom Finance. They have passed our complaint onto this company. On checking our paperwork we have nothing with this name on it Where do we go from here.

It's very important to establish who sold the PPI policy to you so you know who to complain to as, contrary to the advice provided by ALIBOBSY, it is the seller who is usually liable for any mis-sale (obviously).

''Insofar as a complaint is about the failings set out in the open letter and our Handbook text we take the view that the ‘matter’ complained of is about the sale of the PPI, as opposed to a complaint about the underlying product. In our opinion, such a complaint is properly directed at the firm who sold the PPI''
http://www.fsa.gov.uk/pubs/policy/ps10_12.pdf

I would be tempted to send subject access requests to both First Plus and Freedom which should provide the answer.

Alpine_Star

roonaldo wrote: »

It doesnt matter who you pay premiums to, if you are claiming mis-sale you need to complain to who sold it. If a broker is involved, they are responsible for the sale.

They must have read it on CAG.

src007

miller18lynn wrote: »

my husband and I took out a loan that was done via the post and phone. It was with First Plus, however when we sent the claim form to them for the PPI we did not want they wrote back saying that we were sold the loan via a company called Freedom Finance. They have passed our complaint onto this company. On checking our paperwork we have nothing with this name on it Where do we go from here.

Freedom Finance changed name to Wilmslow Finance. Wilmslow went bust earlier this year after using every tactic in the book to avoid refunding people's PPI.

As long as the policy was sold after January 2005 the FSCS will be able to take on the complaint.

Whilst it's possible that FirstPlus are illegally blaming a broker, I find it far more likely that Freedom Finance actually spoke to you on the phone and sold you the policy, even if you thought it was FirstPlus!

I think you'll hit a dead end (and waste alot of time) writing to FirstPlus - using the FSCS is the way forward. However, if it was sold before January 2005 things will be more difficult as the FSCS won't be able to help.

roonaldo

Alpine_Star wrote: »

They must have read it on CAG.

Yes! I had a look at that website once, everything I read was factually wrong!