First Plus PPI problem Help

Suzy9024

Hello,

I would be very grateful for any advice regarding the mis sale of PPI insurance on our First Plus secured loan. We took out the loan in 2003 via loans.co.uk who added on the PPI to our loan, we were not given any of the information we should have been but at the time were naive and were attracted by the 5 years cashback offer. Later that year we stupidly borrowed more from first plus whcih I though we arranged direct but have since discovered we used a company called Central Capital Ltd who also added a PPI to loan (this is over £7000) When we got talked into taking out policy we wre told it was a joint policy but we have now discovered only my husband is covered for accident and sickness, this means that we are unable to claim as I am very sick and my husband is looking after me and we are having real problems paying our loan. We have been late with our payments now a few times so this automatically means that we will not get cashback anyway. We feel we were totally misinformed about this policy and have complained in writing to first plus who have passed complaint onto loans.co.uk and central capital to investigate. Apart from being mislead regarding joint names there are several other things they failed to tell us when we took out policy, i.e not asked about pre existing medical conditions, made to believe ppi was required to get loan, never given quote without PPI or told true cost of it, we were also not told that even if could claim cashback after 5 years that the money had to be used to either pay into loan or buy another PPI policy. The whole thing is a rip off and we are left with a policy we cannot claim on and the fact we have lost £7000 plus interest. Does anyone have experience of these companies and what can we expect them to do?? Thanks to you all

zipwen1

could you speak to citizens advice about this as they would probably be able to help you more