first plus ppi

mo_b_73

Hello has anyone had any luck claiming ppi back from first plus as far back as 2001 be good to hear something positive as dont seem to be getting anywhere thanks.

Red_peppers

mo_b_73 wrote: »

Hello has anyone had any luck claiming ppi back from first plus as far back as 2001 be good to hear something positive as dont seem to be getting anywhere thanks.

Well I'm trying , but mine is from 2007. So that probably makes it very different.

The only advise I can give is keep going and someone will be along soon to help you in detail i.e underwriters, insurers? Etc

Helen

di3004

I would certainly give it a shot with whatever reasons you have, good luck.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step3

sab_100

mo_b_73 wrote: »

Hello has anyone had any luck claiming ppi back from first plus as far back as 2001 be good to hear something positive as dont seem to be getting anywhere thanks.

Hi there,

keep at it with Firsy plus, we claimed back from 2002 and they only offered us £243 which we rejected and referred it to the FOS. We got a cheque for just over £9000 within 6 months ( the probably did not have the amount of claims to deal with as they do now though!) I am so glad we stuck with it and I would strongly recommend anyone who has a case to persue it!

Good Luck :beer:

mo_b_73

Thanks for your helpfull posts as it 11 weeks now since had the letter back and still cant get anywhere on the phone would u now take it to the fos or keep trying with them for a bit longer.

amersall

mo_b_73 wrote: »

Thanks for your helpfull posts as it 11 weeks now since had the letter back and still cant get anywhere on the phone would u now take it to the fos or keep trying with them for a bit longer.

As this was 2001 you need to find out who the insurer was,FP can tell you this.
Was this loan brokered or just through FP?

When you have the insurer details send this to them.


We/I believe we were mis sold the ppi on the above account number.
1)We/I were not told that the ppi was in effect another loan that was added to the original loan and was repayable over the loan term with interest.

2) We/I were not told that the ppi only covered us for 5 years, but the ppi would still be on the loan to term end with interest.

3) We/I were told that if we did not make a claim on the ppi ,after 5 years we would recieve the ppi as cashback, and to look on this as savings plan.. But were not told that the ppi would be on the loan to term end with interest and the cashback of ppi would not include the interest that we paid over the 5 years.

In line with the FOS recommendations it is requested that the overall situation be restored as if PPI had never been included. This will entail:
a) A refund of the monthly payments that have actually been paid towards the overall loan in excess of those that would have been needed, if the original loan had been sold without the PPI policy;
b) Restructuring of the loan going forward so that the amount owed, the monthly repayments, the term and the charges reflect those that would have applied, if the original loan had been sold without the PPI policy.
c) In addition, interest at the rate of 8% simple per annum to any excess payments made from the time each payment was made to the point that Firstplus pays them back to us. We/i believe we were not given enough information on this ppi to make an informed decision. Had we/i known the full cost of this ppi we would not have taken it.

Unless you can prove without doubt that this PPI policy was fair, reasonable and suitable for my/our circumstances we/I will require you to rearrange the loan as if PPI had never been included on the above loan.

amersall

mo_b_73 wrote: »

Thanks for your helpfull posts as it 11 weeks now since had the letter back and still cant get anywhere on the phone would u now take it to the fos or keep trying with them for a bit longer.

What reply did you get from FP?.

mo_b_73

first plus were really unhelpful told me to different underwritters the fos found out for me it was LLoyds of london and had a very speedy letter back from them in july saying if u do not here from us to sort this out within 8 weeks then contact us again but keep getting put on hold then finally got threw to be told case is on hold til the fos make a dissicion on how to deal with these cases so feel like back to square one as i thought everything had been sorted out in court by now so not sure what to do next .

amersall

mo_b_73 wrote: »

first plus were really unhelpful told me to different underwritters the fos found out for me it was LLoyds of london and had a very speedy letter back from them in july saying if u do not here from us to sort this out within 8 weeks then contact us again but keep getting put on hold then finally got threw to be told case is on hold til the fos make a dissicion on how to deal with these cases so feel like back to square one as i thought everything had been sorted out in court by now so not sure what to do next .

All you can do now is wait and see what they can do with this,it will be a very long wait though.
Hopefully FOS will hold the insurer/underwriters responsible and you will get what you deserve.
Fingers crossed.