Anyone tried reclaiming ppi with first plus after five years cashback??

amersall

Jacobs_Creek wrote: »

Hi Amersall,

I spoke to you briefly in July when I started this procedure with First Plus. I sent the original email on 4th July 2012 and a reminder to see if they had recieved it on 16th July 2012. To date I have heard nothing and wonder what I should do next??

S

Give them a ring and make them acknowledge the complaint or tel them you will take this to FOS.
They are unbelievable this lot :mad:

South_West_Sid

I have been watching this thread now for a while and I have used a lot of the advice given. A few years back I contacted one of the PPI claim companies to ask if they could help and when they said there was no claim "as I had been paid out my cashback" I thought that was the end of it. Earlier this year I was sent a letter by FP asking me if I thought they owed me anything. I decided then to follow the advice of the forum and completed a claim form. I hoped that maybe I could get some interest back at least, however I was amazed when the reponce came back saying they had upheld my claim. Originally I took out a large loan and although it was secured against my property they still insisted on a PPI which amounted to £19,000. After the 5 years I got my £19,000 and left it at that. They have now put me back to where I would have been if I had not taken out the PPI which includes reducing my outstanding balance by £16,000, reducing the monthly payment by circa £160 and last week I banked a cheque for £3,900 even though I had received my £19,000. For me this is a real result thank you all for your help in getting me this!!

amersall

:j:j Another one bites the dust :beer: love a win with FP :cool:

amersall

Word of warning did you sign a from with the claims co to make the original claim or did they just tell you they could not do it as you had the cash back?.
If the latter then phew:D if the former then :mad:
Had you signed a contract with the claims co, you would now have a bill for their services for the whole £19,000 and the redress you received.

[Deleted User]

amersall wrote: »

Had you signed a contract with the claims co, you would now have a bill for their services for the whole £19,000 and the redress you received.

Well, the OP would have a bill representing a large percentage of that £19,000-not the whole amount of course.

South_West_Sid

No I did not even give my name. All they wanted to know were a few basics and as soon as I mentioned having been paid the cash back they simply said forget it you can’t make a claim. I certainly did not agree to anything verbally nor sign anything.

bebobob

Hi there
Has anyone been successful, if they accepted the cashback, in getting a refund of the interest on it? What exactly are you entitled to if you make a claim to First Plus? Surely if you've had the cashback you are only asking for a refund of the interest?

amersall

South_West_Sid wrote: »

No I did not even give my name. All they wanted to know were a few basics and as soon as I mentioned having been paid the cash back they simply said forget it you can’t make a claim. I certainly did not agree to anything verbally nor sign anything.

That is good, well done.

amersall

bebobob wrote: »

Hi there
Has anyone been successful, if they accepted the cashback, in getting a refund of the interest on it? What exactly are you entitled to if you make a claim to First Plus? Surely if you've had the cashback you are only asking for a refund of the interest?

If you had the cash back, you make a claim for mis sell of the whole PPI, use the letter I posted earlier in the thread.
If the loan is still running and your claim is upheld they will give you 3 options as to how you wish the redress to be paid, it is imperative you take the option that resets the loan, if you do not then the PPI total remains on the loan to term end with interest, this will cost you thousands over the remaining term.

If the loan is reset, the whole PPI amount is taken off the loan balance and your loan monthly payment goes down by the PPI monthly amount.

If the loan is settled then they will redress the whole PPI and take off the cash back and the rebate, if the loan was settled early and you get any surplus cash.

bebobob

hi
thanks for the advice...should I send the Financial ombudsman questionnaire too as they ask on the website, or do you think the letter should suffice for now?