Firstplus PPI claim after receiving cashback

ttoirram1974

Hi Mermaid

Hello, I am now to the forum, although I have been reading MSE for a bit now. Just wanted to let you know that we too had a loan with FP for £80000, and we received cashback in 2010.

We have successfully claimed PPI mis-selling, and we are expecting a lump sum of just under £2k very soon, as well as saving £150 per month on the repayments. In addition to that, they have readjusted our loan balance to £52,000! Without the PPI being removed and the loan readjusted, we had a balance of nearly £75000!!

Hope this gives you some hope.

E
xx

[Deleted User]

Mermaid77 last visited the site in October last year.

24759947

Need some info..... Took out a first plus loan, reclaimed mis-sold PPI a couple of years ago. Forgot to take option of cash back on PPI after the 5 year period' I am now 6 years into a 10 year term. Can I still ask for a cashback on the PPI loan. I think the policy suggests that you can only do this up to 30 days after the 5 years.

-taff

Your question has already been answered.

dunstonh

Also, if your complaint was successful, then you dont get your money back on the 5 year period as the redress method takes care of that (assuming they didnt take the 5 year refund into account).

24759947

Sorry I don't quite understand..... Since l had a small claim I have continued to pay the PPI loan around 44 per month with PPI loan amount added to my original loan amount. Is this correct?

24759947

Thanks for the reply. Since I received a small amount back a few years ago I am still paying my PPI loan which is still included in the total amount of loan... Is this correct?

-taff

Perhaps you should give us some more information.

Have you made a complaint regarding misselling of PPI or did you make a claim on the PPI for example if yuou were made redundant/out of work/sick?


If you did make a complaint, did they repay all of the PPI and associated interest or re-jig your loan so you paid less?
If you made a complaint, how did you do it?#

Who did you have the loan with and when was it sold to you?

24759947

Hi I made a complaint with first plus for missold PPI. I only received around 1k.since then I am still paying the PPI loan on top of my original loan. The total loan amount and monthly payments have remained exactly the same throughout.
First plus loan 2007 over 10 years
198 pm and 44 pm PPI
Complaint 2010 - received around 1 k

-taff

I think you'd better re-submit your complaint because they haven't returned the full amount of PPI, and it sounds like it was single premium.
I knw you've complained once, but try it again anyway, because they haven't refunded your entire PPI, it sounds like it was single premium, so you're still paying the interest