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First Plus PPI 5 year refund
greenmaddie
Posts: 1 Newbie
Hi
I have just reclaimed my PPI premium from first plus after the 5 year period.
However, we have only received 50% of the premium cost.
When we were sold the PPI (and when we queried this through the PPI reclaim process) first plus claimed we were not mis sold this and quoted the account manager, informing us that we agreed to the PPI (?) and that we would be entitled to claim back the premium. It even quoted what the total cost of the premium would be then quoted the amount we would be able to reclaim (i.e. total cost £14266 (approx) for the total cost over the life of the loan and able to reclaim £7436 (approx)) but when we queried why we only got £3647 back, first plus told us that our terms stated we only recievd 50% of the premium.
This was not how it was sold to us and given the information he supplied when we brought this we would not have queried this as 50% of the £14K is £7K which is the exact amount he told us we would be able to claim back.
First plus have told us to send the documentation and the letter we received from them and they will investigate this.
My question is am I being stupid and they are right? Or given the information we were given and then they provided as quotes from their account manager, as I correct in thinking that I should be entited to the £7K as he stated?
Any advice would be most welcome, this is stressing me out and I need to know whether I have a case to pursue should they decide I'm incorrect?
Thanks in advance
I have just reclaimed my PPI premium from first plus after the 5 year period.
However, we have only received 50% of the premium cost.
When we were sold the PPI (and when we queried this through the PPI reclaim process) first plus claimed we were not mis sold this and quoted the account manager, informing us that we agreed to the PPI (?) and that we would be entitled to claim back the premium. It even quoted what the total cost of the premium would be then quoted the amount we would be able to reclaim (i.e. total cost £14266 (approx) for the total cost over the life of the loan and able to reclaim £7436 (approx)) but when we queried why we only got £3647 back, first plus told us that our terms stated we only recievd 50% of the premium.
This was not how it was sold to us and given the information he supplied when we brought this we would not have queried this as 50% of the £14K is £7K which is the exact amount he told us we would be able to claim back.
First plus have told us to send the documentation and the letter we received from them and they will investigate this.
My question is am I being stupid and they are right? Or given the information we were given and then they provided as quotes from their account manager, as I correct in thinking that I should be entited to the £7K as he stated?
Any advice would be most welcome, this is stressing me out and I need to know whether I have a case to pursue should they decide I'm incorrect?
Thanks in advance
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