First plus claim. anyone else had this happen?

dadoandrew

I have just started a claim against First Plus. on the phone the caller told me that he would action the process. then 2 days later I got a letter stating that the actual ppi was sold by a now defunct company freedom finance. A quick online check shows an active company of that name. They told me to go through the ombudsman, which I am now doing. Has anyone else had this same trick thrown at them by this company? would love to hear feedback.

Nasqueron

dadoandrew wrote: »

I have just started a claim against First Plus. on the phone the caller told me that he would action the process. then 2 days later I got a letter stating that the actual ppi was sold by a now defunct company freedom finance. A quick online check shows an active company of that name. They told me to go through the ombudsman, which I am now doing. Has anyone else had this same trick thrown at them by this company? would love to hear feedback.

It depends if you were sold the loan (+ PPI) by the company or if they were just the lender e.g. if you got money through Freedom Finance but they were acting as a broker - what do your records say?

Freedom Finance might be a new company who happen to have the same trading name - they certainly are a broker where you apply for a loan through them and they find it for you.

http://www.freedomfinance.co.uk has been registered since 23rd September 1999 though so could be the same company or they bought the domain name

Edit

I had a look through the forum and there are examples of loans from First Plus being organised through Freedom Finance who may have added the PPI on - if the FF company who sold you the loan/PPI are not trading any more and the loan was after 2005 you can ask the FSCS about the refund though you only get premiums, no interest

see

https://forums.moneysavingexpert.com/discussion/3835675
https://forums.moneysavingexpert.com/discussion/4737498
http://www.consumeractiongroup.co.uk/forum/showthread.php?338398-Freedom-Finance-amp-Firstplus-PPI-misselling-**WON**

dadoandrew

That's not too discouraging. I have no documentation from first plus from the initial loan. And certainly nothing stating that the ppi was another company. Bit of a cheek really as the ppi ended after 5 years and first plus then continue to take premiums off me. I will be quite happy with a refund of my premiums as it adds up to a good sum. Thanks for reply.

dadoandrew

Further to the saga. I am now involved with the ombudsman, and am sitting in for a possible two year wait. ho hum. However I am wondering for peoples opinion here. How can a firm claim that they are in no way responsible/liable for my ppi yet it is their company that month by month takes the premiums off my bank account?
Has anyone ever actually got a court order against a firm and poinded goods or threatened to do so?

Brokerwise

dadoandrew wrote: »

Further to the saga. I am now involved with the ombudsman, and am sitting in for a possible two year wait. ho hum. However I am wondering for peoples opinion here. How can a firm claim that they are in no way responsible/liable for my ppi yet it is their company that month by month takes the premiums off my bank account?
Has anyone ever actually got a court order against a firm and poinded goods or threatened to do so?

Interesting - I would almost guarantee this policy is single premium
but appears monthly. What is the reason for mis sale as the loan is secured against you house, you have or had near negative equity at the time of sale ?

Insider101

dadoandrew wrote: »

Further to the saga. I am now involved with the ombudsman, and am sitting in for a possible two year wait. ho hum. However I am wondering for peoples opinion here. How can a firm claim that they are in no way responsible/liable for my ppi yet it is their company that month by month takes the premiums off my bank account?
Has anyone ever actually got a court order against a firm and poinded goods or threatened to do so?

You are complaining that you were missold the product. I.e that the person selling it to you misled you into purchasing a product you would not have done otherwise. The person who sold it to you was a representative of Freedom Finance. Therefore, responsibility for the misleading information lies with them. First Plus won't even be the insurer, they're just the company who you took the loan out with which the PPI was taken to cover. I can't really see how you would think your complaint was anything to do with them?

As for a court order you will be waiting a long time. You would need to prove a breach of law on the part of first plus.

-taff

You will probably be sitting there forever. They are trying to make someone with no repsonsiility take responsibility for the sale.
I assume this was sold to you pre regulation which is why you went after the providers.

Your chances are virtually zero.

dadoandrew

nope policy was 2006. And I do think I have a claim as I was told on the phone by the operator that if we didn't say yes on the phone then and there, then we would not get our loan. So I do actually think it is a mis sell. but thanks for all the input folks.

dadoandrew

And another thing which puzzles me, How can a company lets call them first plus, continue to take a monthly premium for a service which no longer exists, from a company which no longer exists even be a legal thing to do?

-taff

ok, you haven't been clear.

The loan [and herefore the policy] were sold to you after January 14th 2005?
The actual company is still running?


In which case it's just a normal complaint and you can expect to wait for 2 years if the company denies any wrongdoing.

Insider101

dadoandrew wrote: »

nope policy was 2006. And I do think I have a claim as I was told on the phone by the operator that if we didn't say yes on the phone then and there, then we would not get our loan. So I do actually think it is a mis sell. but thanks for all the input folks.

Whose operator? Who were you on the phone to? Freedom or First Plus?