First Direct PPI- Has annyone had success?

snortbrick

Finding it a real hard rock to find much about the First Direct PPI success only the sad stories of what seem like some very genuine folk who hit a brick wall,even when going to the FOS.

Is this a symptom of the internet/phone banking system?

snortbrick

Has anyone had a claim upheld from First Direct???

Prof_Ligate

I have. Got a small amount back on a loan from the 1990s. At that time FD told me that I had to take PPI to get the loan. They also gave me a bit towards a further loan that I took with them which didn't have PPI.

All resolved and paid within a couple of months.

fifitrixiejane

I had a first direct credit card but on the statements I had I could never find any details of PPi being paid so I wasn't sure if it was worth looking in to so I didn't bother in the end, I haven't seen anone on here who have had success with First direct.

Prof_Ligate

fifitrixiejane wrote: »

I had a first direct credit card but on the statements I had I could never find any details of PPi being paid so I wasn't sure if it was worth looking in to so I didn't bother in the end, I haven't seen anone on here who have had success with First direct.

I didn't have any of the details for my loans - FD did all the work but I am still with them and have been for many years so maybe that's why it was pretty easy for me.

snortbrick

I've had a bit of a do with them but then again i've had a do with most of the banks including HSBC who are the most abhorent!

findmymoney

Hello All,

I have been a customer of first direct for 20 years and I have had a lot of their products. In the late 90's and early 2000 while on a lower income i had the hard sale on loans etc keep using consolidation loans and being told i could only have the insurance with the loan.

Apart from the PPI I have found FD very helpful to talk to but I don't like discussing details like this so i am not sure what is the best action.. the phone or sending a form off.. ( Prof how did you submit your request )

Over the weekend I found some paperwork that I had been looking for..

I am not sure how all this works for consolidation loans and the fact that they set me up loans to pay for the PPI that ran the same length for the loan duration. And now that i am older and look at how much the PPI cost I am shocked..

Details on the loans with supporting paperwork

1) July 1997 Consolidation Joint Loan for £12550 / £4500 loan for PPI
@12.9 APR


2). September 2000 Another consolidation! Loan of £18,300 / £3420.00 Loan for PPI Paid off in 2005 ( i think ) used for paying off old joint loan ( no longer with ex GF ) and paying off first direct credit card of 5K

Loan premium refund on loan 1 ( £920.00 )

Questions:-

• These are old debts and have gone past six years will i be able to claim no missed payments on either loans

• How do they work out PPI for Joint owner of a debt

• Is it worth asking about the old credit card as I know this had PPI attached
• How do they work out how much to pay you back

Has anyone gone down the phone route or should I put all this in with a form and copies of my evidence or use there on line secure messages ?

And are First direct helpful with this or rock hard, I know Banks are easier to deal with on PPI maters but not sure what to do,,


Thanks in Advance

dazza12

Hi findmymoney

You have one of the stronger reasons for complaint, front loaded PPI on a chain of loans. You were effectively paying interest on the interest on the PPI on the first loan, on the second loan. If your complaint is upheld, you'll get refunded the PPI amount, then the interest you'd have paid, then simple interest at 8% per annum.

As you appear to have the loan paperwork you shouldn't need any more information. That is unless you had further loans with them, if you think you have but can't find the paperwork it may be worth doing a subject access request. The same applies to the credit card.

The form is always the best route. It asks all the right questions, and you have a chance to make your complaint without interruption. The problem with making the complaint by phone is that the only information recorded is what the person on the other end is typing. On top of that some of the questions you'll be asked may catch you unawares so you may not answer correctly. It may seem less hassle and quicker to do it by phone, but you're only losing a few days.

Make a copy of the loan agreements and send them in with the form. Don't sent originals.

Are you still in touch with your ex? It may be worth at least trying to get in touch to let her know what you're doing. Others on here may be able to advise better regarding this, but there should be nothing stopping you from making a complaint. Just bear in mind that the ex may be in touch so keep this to one side. It's also possible that First Direct may account for this in their redress to you.

The statute of limitations (the six year rule) doesn't apply to PPI complaints. In theory you can complain about PPI from any time, but it can be more difficult for older products.

First Direct are quite stubborn, but if you stick at it you'll be fine. Bear in mind they may refuse your complaint, if so refer it to the Financial Ombudsman Service. This may take some time (FOS have a huge backlog, currently up to 18 months).

Prof_Ligate

findmymoney wrote: »

Hello All,

I have been a customer of first direct for 20 years and I have had a lot of their products. In the late 90's and early 2000 while on a lower income i had the hard sale on loans etc keep using consolidation loans and being told i could only have the insurance with the loan.

Apart from the PPI I have found FD very helpful to talk to but I don't like discussing details like this so i am not sure what is the best action.. the phone or sending a form off.. ( Prof how did you submit your request )

Over the weekend I found some paperwork that I had been looking for..

I am not sure how all this works for consolidation loans and the fact that they set me up loans to pay for the PPI that ran the same length for the loan duration. And now that i am older and look at how much the PPI cost I am shocked..

Details on the loans with supporting paperwork

1) July 1997 Consolidation Joint Loan for £12550 / £4500 loan for PPI
@12.9 APR


2). September 2000 Another consolidation! Loan of £18,300 / £3420.00 Loan for PPI Paid off in 2005 ( i think ) used for paying off old joint loan ( no longer with ex GF ) and paying off first direct credit card of 5K

Loan premium refund on loan 1 ( £920.00 )

Questions:-

• These are old debts and have gone past six years will i be able to claim no missed payments on either loans

• How do they work out PPI for Joint owner of a debt

• Is it worth asking about the old credit card as I know this had PPI attached
• How do they work out how much to pay you back

Has anyone gone down the phone route or should I put all this in with a form and copies of my evidence or use there on line secure messages ?

And are First direct helpful with this or rock hard, I know Banks are easier to deal with on PPI maters but not sure what to do,,


Thanks in Advance

I simply sent a secure message. Didn't speak to anyone or fill in any forms.

My amounts were much lower though so maybe it was easier to just pay me off than argue but I got a confirmation of receipt and then a letter with an offer and payment all within about 8 weeks of the original secure message.

My argument was also that I was told I had to have PPI to be given the loan. I remember that very clearly. My loans were more than 6 years old too and they checked everything for me - I only asked about one loan and they gave me details of 3.

Cant fault FD at all.

snortbrick

Same for me, as well as having the Credit card with them.

HSBC were terrible as well. The local branch assiatant asked us both if we wanted Credit cards then said, take out the PPI as it helps your application.

It's a good job the branch is shut because i'd go in and Roger them!

findmymoney

All thanks for the Advice,

Sadly i wouldn't even know where to find my ex for the joint loan i have not hear from her and moved away over 13 years ago.. So not sure how i would sort out the ppi on the that joint loan

@prof i was wondering about using the secure channel and at worst sending the form..

I do like FD but there was such a hard sell and at the time i wasnt earning a lot of money so the extra payments were painful. And now when i look back t the amounts i am shocked also by my reckless use of consolidation loans..

So think i may be best sending of the forms...