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First Plus Reclaim
derbyjim
Posts: 2 Newbie
Hello folks first post but long time reader 
Ok have had several loans over the years but always refuse any form of ppi so when hearing all this news about reclaiming mis sold ppi and was sure it wouldn't affect me, however i would appear to be wrong.
In 2007 i took out a First Plus loan for 33k over 240 months to consolidate some silly debts and fix the house up, not happy about the long term debt but needs must at the time, on checking the policy today it would appear they sold me a ppi with this loan costing me just over 8k.
Now my question is that the policy says it runs for 5 years ending in Sept 2012 when they'll give me a 100% refund so do have claim for a misold ppi since i was never made aware i had it or just wait for the refund.
Secondly since 8k was added to my loan for ppi what would roughly be the amount to reclaim since it says i pay £63 a month for the ppi and have made 55 payments would the claim be for
55 x £63 plus interest i'm a little confused at this as that amount is nowhere near the 8k they added to my loan. If i claim for a mis sold ppi what would happen to this 8k.
Hope someone can help answer this since it's confused the hell out of me
Many thanks J
Ok have had several loans over the years but always refuse any form of ppi so when hearing all this news about reclaiming mis sold ppi and was sure it wouldn't affect me, however i would appear to be wrong.
In 2007 i took out a First Plus loan for 33k over 240 months to consolidate some silly debts and fix the house up, not happy about the long term debt but needs must at the time, on checking the policy today it would appear they sold me a ppi with this loan costing me just over 8k.
Now my question is that the policy says it runs for 5 years ending in Sept 2012 when they'll give me a 100% refund so do have claim for a misold ppi since i was never made aware i had it or just wait for the refund.
Secondly since 8k was added to my loan for ppi what would roughly be the amount to reclaim since it says i pay £63 a month for the ppi and have made 55 payments would the claim be for
55 x £63 plus interest i'm a little confused at this as that amount is nowhere near the 8k they added to my loan. If i claim for a mis sold ppi what would happen to this 8k.
Hope someone can help answer this since it's confused the hell out of me
Many thanks J
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