Firstplus PPI won- but in arrears!!!!

berta_2

Hi

My partner and I have just received a "letter of goodwill" re missold of PPI. However we are in arrears and although I believe their calculation are probably right My ???? is why have my arrears not been reduced when the arrears include monthly payments plus PPI payments....Any money I get back will go to the arrears as I want rid of them. I do also have CAB on the case and happy for any advice. Firstplus have recalculated twice and come up withdifferent figures they now say this is their final offer and if I dont like it go to the Ombisman.... I thought I was supposed to be put back in a position as if PPI had never been taken out so why do I still owe them it in the arrears. And they have taken us to court twice for a suspended order ( we have been paying the monthly payment +ppi+extra 265 towards the arrears since May and will continue to.Next court date in November but only 10days to reply to offer).Any ADVICE pLEASE XXX

di3004

Well done on your success!:beer:

Also bumping this up for you, good luck.;)

bandofbrothers

berta wrote: »

Hi

My partner and I have just received a "letter of goodwill" re missold of PPI. However we are in arrears and although I believe their calculation are probably right My ???? is why have my arrears not been reduced when the arrears include monthly payments plus PPI payments....Any money I get back will go to the arrears as I want rid of them. I do also have CAB on the case and happy for any advice. Firstplus have recalculated twice and come up withdifferent figures they now say this is their final offer and if I dont like it go to the Ombisman.... I thought I was supposed to be put back in a position as if PPI had never been taken out so why do I still owe them it in the arrears. And they have taken us to court twice for a suspended order ( we have been paying the monthly payment +ppi+extra 265 towards the arrears since May and will continue to.Next court date in November but only 10days to reply to offer).Any ADVICE pLEASE XXX

Speak to your CAB ASAP and take all your paperwork.
Also take it all to court too just in case.

I hope you get this sorted for your own piece of mind.

berta_2

Hi

Thanks. I do have CAB on the case and they are having to speak with the higher gods as they don't know. I was hoping the arrears would be payed off and leaving us back in a better position before going back to court but looks like FP are just being awkard.
The thing is when speaking with the First Plus representative when explaining my query she kept saying "I understand what your saying" but couldnt tell me why the arrears didnt have the PPI removed she went off and spoke with a colleague when came back with an attitude of "its our final offer and if we dont like it go to the Ombisman". she then waffled on about a "Barclays policy" which does not include addressing arrears re PPI. I asked her for a copy of the policy and was told there was no way I cpould have a copy but the Ombisman could request it"... I think she was out of her depth. Has anyonew else has any issues re having PPI removed from arrears????

dunstonh

The redress should clear the arrears and any surplus after that should be paid to you. The amount you have borrowed remains the same. So, monthly payments will remain the same. The "rebate" in your hands (minus the arrears) means you are effectively being refunded the PPI premium direct to you rather than handled within the loan.

berta_2

Hi
Thank you but im afraid i am non the wiser. I know the figures i have been given are for the PPI over the loan plus interest. My query is how do I still owe the same arrears now as before I claimed for missell of PPI. For example my arrears are £9000. I am getting approx £5500 refund but arrears still £9000 therfore I am still paying PPI back in the arrears.

I really am confused

dunstonh

My query is how do I still owe the same arrears now as before I claimed for missell of PPI. For example my arrears are £9000. I am getting approx £5500 refund but arrears still £9000 therfore I am still paying PPI back in the arrears.

That would indicate that they are not deducting the arrears from the £5500 refund. That would be unusual. Although, if you havent had the money yet, its possible you are jumping the gun.