PPI Reclaiming discussion

ANY_CHANCE

Thanks Laini,

I re-read the post

'After reading through the forums it appeared as though it was easier to claim for an unfair rebate than mis – selling so I wrote to Firstplus again asking them to confirm how much rebate we received when we settled the loan. They stated that we received a rebate of just over £1000 from a £7000 policy that we had for eight months.

We wrote back stating that the rebate was unfair, quoting the FSA guidelines and a few days later we were offered a “Goodwill gesture” of an enhanced rebate of 78% of the cost of the premium (pro rata). They offered us £3534.96.' THANKS SWINDONSHOT

So they recieved 64% rebate overall??
Not Bad

so i could hope for a min of 6,000 Daynurse had advised me of this in earlier posts - i have a brain like a seive:rotfl:

Laini

ANY_CHANCE wrote: »

Thanks Laini,

I re-read the post

'After reading through the forums it appeared as though it was easier to claim for an unfair rebate than mis – selling so I wrote to Firstplus again asking them to confirm how much rebate we received when we settled the loan. They stated that we received a rebate of just over £1000 from a £7000 policy that we had for eight months.

We wrote back stating that the rebate was unfair, quoting the FSA guidelines and a few days later we were offered a “Goodwill gesture” of an enhanced rebate of 78% of the cost of the premium (pro rata). They offered us £3534.96.'

So they recieved 64% rebate overall??
Not Bad

so i could hope for a min of 6,000 Daynurse had advised me of this in earlier posts - i have a brain like a seive:rotfl:

Anychance (and anyone else who might be able to help me)

I am addicted to the site at the moment!!

do you know the guidelines as I went on the FSA website and wasnt sure what I was looking at.
can you help with what the guidelines are
so I can try again stating them as I havent put in the FSA upto now.

grasping at straws now at this end

Laini xx

ANY_CHANCE

Sorry Laini which guidelines are these?? ooh the ones above doh

I know what you mean about being addicted there is so much to read and not enough time to read it all

Thats it for me today ill have to look again and write my letter tomorrow If anyone has any ideas as to what i should put in the letter to maximise effect on FP that would be great off to pack my bag for Uni now- its like being back at school!!
Only not as much fun

Laini

ANY_CHANCE wrote: »

Sorry Laini which guidelines are these??

I know what you mean about being addicted there is so much to read and not enough time to read it all

me again!!

just read my last post - sorry for not making sense I cant even understand it!!!!

Just wanted the following

the FSA guidelines on unfair rebates( are they statements or a set of rules?can I copy and paste any info off the website)

or do you have to word it yourself on the info they give.

I will have another try at finding them I must have lost the plot last time
I think I was hoping they would just jump out at me maybe they did but I didnt catch them- tee hee.

any info welcome

Laini xx:o

petermb_2

Hi

I will repeat my previous statement. Do not seek redress on just ppi premiums on its own. You may be doing yourself out of £thousands. The ppi premium may well be the absolute minimum you could claim back.

Maggie_Holmes

petermb wrote: »

Hi

I will repeat my previous statement. Do not seek redress on just ppi premiums on its own. You may be doing yourself out of £thousands. The ppi premium may well be the absolute minimum you could claim back.

My PPI with First Plus was for £5,000+ setttled the loan now had a rebate of approx £1,000+ on the PPI. Have sent my complaint letter regarding mis-selling etc. So what else can I claim on then, you say do not seek redress on just ppi premiums. What page is your previous statement on? And what am I doing myself out of? Should I be claiming the Whole of the PPI back + any payments I have already made towards it + 8% interest? and what about the rebate that has been taken into account already. I get confused as to what I should actually claim back bearing in mind I have just settled this secured loan with First Plus Can you advise petermb. I want to be ready when F P reply.

Thanks Maggie

techspec

Been refused a PPI refund from the Halifax. My grounds were self employment, not being told is was not compulsory, not requesting it etc.

Before going to the FOS, is it worth doing a data protection request for the signed application form, and any transcrpts from taped conversations ragarding the PPI?

Also, whilst i have been awaiting the banks response, the 6 years have passed. Will the FOS still accept the complaint, or have i been duped?

Laini

ANY_CHANCE wrote: »

Hi everyone, Hi Laini and Daynurse

I just thought i would post as im just catching up on my paper work

I sent a letter to first plus 20/2 complaining of mis-selling and unfair rebate they replied within a week saying that Norton finance sold us the loan and have passed the complaint over to them. First plus also sent a letter explaining how they calculated the rebate when we repaid the loan last year.

Loan was for 50,000 PPP 12245 total 62,245. we started the loan in july 2005 paid the loan off by selling the house in may 2007 we paid 60874.54 settlement figure

Our monthly payments were 466.81 over approx 20 months (93362)
374.98 - cash loan (x 20 = 7499.60
91.83 - ppp loan (x 20 =1,836.60)

They said that they have already given a rebate of 1933.71

actually i still cannot understand the calculations and wether or not they have given a fair rebate and if not how much do they owe??

oh poo my brain is scrabbled


Just found replies to questions ive asked b4!!! FSA state that the partial refund terms are unfair under the unfair consumer contract term regs 1999 refunds should be calculated fairly after taking into account justifiable costs

However First Plus state in their letter to me that their settlement figure is calculated in accordance with the consumer credit (early settlement) regulations 2004

I am confused
so do you think they put the consumer credit reg on your letter hoping you will not find out the FSA reg 1999
can the FSA over rule Consumer credit reg?

hopefully someone may enlighten us

Laini xx

petermb_2

Maggie_Holmes wrote: »

My PPI with First Plus was for £5,000+ setttled the loan now had a rebate of approx £1,000+ on the PPI. Have sent my complaint letter regarding mis-selling etc. So what else can I claim on then, you say do not seek redress on just ppi premiums. What page is your previous statement on? And what am I doing myself out of? Should I be claiming the Whole of the PPI back + any payments I have already made towards it + 8% interest? and what about the rebate that has been taken into account already. I get confused as to what I should actually claim back bearing in mind I have just settled this secured loan with First Plus Can you advise petermb. I want to be ready when F P reply.

Thanks Maggie

Hi Maggie,
There will be more issues that effect your loan than just ppi. Mis-selling is only one issue that surrounds ppi itself. you are looking at just the ppi premium when you could actually challenge the loan itself. i would need to have more detail to assess if this is so but it is never worth just going after ppi initially. Get your loan professionally checked out.

Clairel29

ANY_CHANCE wrote: »

Thanks Laini,

I re-read the post

'After reading through the forums it appeared as though it was easier to claim for an unfair rebate than mis – selling so I wrote to Firstplus again asking them to confirm how much rebate we received when we settled the loan. They stated that we received a rebate of just over £1000 from a £7000 policy that we had for eight months.

We wrote back stating that the rebate was unfair, quoting the FSA guidelines and a few days later we were offered a “Goodwill gesture” of an enhanced rebate of 78% of the cost of the premium (pro rata). They offered us £3534.96.' THANKS SWINDONSHOT

So they recieved 64% rebate overall??
Not Bad

so i could hope for a min of 6,000 Daynurse had advised me of this in earlier posts - i have a brain like a seive:rotfl:

Hi

I have just settled my loan with FP and trying to get back PPI but we did not get a rebate on our PPI.

Please help, what do I need to do to see if we have had anything back from our PPI and is their a standard letter about unfair rebate.

Thanks
Claire