PPI Reclaiming discussion

Laini

RichP wrote: »

Firstplus

Today Firstplus have offered me a refund of £2,794.87 on my PPI premium, according to them this is 78% pro rata on my premium, the details of the loan are as follows

Loan taken out in Jan 2006 for £35,000.00
Insurance added of £8,571.50
Monthly payments made to Firstplus totalling £7,663.81
Loan replaid in Feb 2008 at a cost of £41,216.38

Can someone tell me what the FSA/FOS state as a fair rebate? If I was to take this money could I still continue chasing them for unfairly selling me the insurance? Has anyone handed their case over to a company such as Loanchecker and if so were the results favourable? Any advice would be gratefully recieved, thanks, Richard.

:hello:
We are in the same situation we have gone to FOS
We settled our loan with them but said we were still persuing the complaint of mis sold and unfair rebate.
we havent gone with any company to help us this is a personal choice.
I will keep posting updates on the progress but since jan 2008 the FOS havent contacted FP for the files so we are going no where fast at the moment.
have you asked for your phone calls I would (we did)
also is that their final response
FOS will only deal with it when FP have sent the final response- so if you want to go with the FOS :
you will need to send copies of all letters to and from FP to send to FOS as with us we just sent the form first but they sent it back so send in the downloadable complaint form completed AND SIGNEDalong with the copies of ALLyour correspondence including a copy of their final response.

Laini xx

RichP_2

Laini wrote: »

:hello:
We are in the same situation we have gone to FOS
We settled our loan with them but said we were still persuing the complaint of mis sold and unfair rebate.
we havent gone with any company to help us this is a personal choice.
I will keep posting updates on the progress but since jan 2008 the FOS havent contacted FP for the files so we are going no where fast at the moment.
have you asked for your phone calls I would (we did)
also is that their final response
FOS will only deal with it when FP have sent the final response- so if you want to go with the FOS :
you will need to send copies of all letters to and from FP to send to FOS as with us we just sent the form first but they sent it back so send in the downloadable complaint form completed AND SIGNEDalong with the copies of ALLyour correspondence including a copy of their final response.

Laini xx

Thanks for the response Laini, I am going to request the phone calls on Tuesday when the complaints department reopen so I can asses for myself exactly what was said, I held off from doing this till I got their final response, which this offer is. There were a number of things I was not aware of regarding PPI till I found this website so I personally think there are reasons to take it further.
Why cant these money grabbers play fair and offer the 78% rebate when you settle the loan? because of the extortionate settlement figure I have struggled to survive since repaying them and taking the offer now is so tempting just to help out but on the other hand, why should they get away with it when they (Barclays) are making such huge profits already!!!

Laini

RichP wrote: »

Thanks for the response Laini, I am going to request the phone calls on Tuesday when the complaints department reopen so I can asses for myself exactly what was said, I held off from doing this till I got their final response, which this offer is. There were a number of things I was not aware of regarding PPI till I found this website so I personally think there are reasons to take it further.
Why cant these money grabbers play fair and offer the 78% rebate when you settle the loan? because of the extortionate settlement figure I have struggled to survive since repaying them and taking the offer now is so tempting just to help out but on the other hand, why should they get away with it when they (Barclays) are making such huge profits already!!!

:wall:
exactly!!
we have been sucked in twice once with Nemo and now with FP
if we hadnt taken PPI on these 2 loans we would be in pocket by AT LEAST 30,000
so I cant let it go.

will post any progress
dont know if you have email for FP I can send it in a PM so you can request the phone calls and that way you have a record of when you asked for them.-dont need to wait til tuesday

good luck!!!!:rotfl::rotfl:

Maggie_Holmes

Maggie_Holmes wrote: »

Hi Daynurse

Thanks for replying. I think I will wait to see what their offer is, (they have promised a reply by 02/04/2008) and if it is somewhere around £5,000 or thereabouts I think I will take the offer. If it is nowhere near first I will ring Mr Mullins (like you I have had a couple of conversations with him already, no raised voices and seemed quite pleasant) to see how it will go, if no good, I will try the e-mail and if that doesn't work, then the letter telling them I will go to the FOS. Only fair I think. :cool: Just a waiting game now.

Hi Got my reply and just like most of us on here they have offered another £2,009.01 + the £1,054.72 rebate which was taken off the loan ugh.

My Total PPI was £5,480.75 so I don't think £3,063.73 is quite fair or is it?

Should I get back the full PPI + the monthly payments I paid over the 17 months + an extra 8% of course excluding the rebate that got took off the loan or was that one of their little tricks. If that is what I should be getting back then I think I will go to the next step in reclaiming that is the FOS isn't it?
But first I might try ringing them or see if I can get an email to the MD that is if it isn't blocked, to see if they might up the offer.

The say in their standard reply that they are keeping back 22% for the provision of claims and administration costs they sound like another Heather Mills to me.

Can anyone advise? m.colak, tigrrae someone who has had a similar claim.

They say in their letter that it should be reviewed as their final response in relation to this matter and that if I am still dissatisfied I have the option to go to the FOS did anyone try First Plus first to see if they would up the offer or go straight to the FOS

Thanks in advance to all who reply.:cool: :easter:

Maggie_Holmes

Laini wrote: »

:hello:
We are in the same situation we have gone to FOS
We settled our loan with them but said we were still persuing the complaint of mis sold and unfair rebate.
we havent gone with any company to help us this is a personal choice.
I will keep posting updates on the progress but since jan 2008 the FOS havent contacted FP for the files so we are going no where fast at the moment.
have you asked for your phone calls I would (we did)
also is that their final response
FOS will only deal with it when FP have sent the final response- so if you want to go with the FOS :
you will need to send copies of all letters to and from FP to send to FOS as with us we just sent the form first but they sent it back so send in the downloadable complaint form completed AND SIGNEDalong with the copies of ALLyour correspondence including a copy of their final response.

Laini xx

Just seen your post.
So it looks like I will have to go thru the FOS as my letter said it was their final response might give them a ring, no harm in trying.
What do you think to the offer I was given (see post above this one)

Maggie

RichP_2

Maggie_Holmes wrote: »

Just seen your post.
So it looks like I will have to go thru the FOS as my letter said it was their final response might give them a ring, no harm in trying.
What do you think to the offer I was given (see post above this one)

Maggie

I am waiting for someone to confirm but I believe the 78% pro rata rebate is what the FSA recommend and what Firstplus should give when the loan is settled without all this hassle (how do they get away with it???) your exact figure will depend on how long the PPI had run, hope that helps, Richard.

ANY_CHANCE

Morning everyone,

It looks like first plus offer around 55% instead of the expected 75%. I think i remember daynurse saying this a while ago.

I am waiting for a rebate on 12,000 if FP offered me 6,000 i would have to think wether i needed the money straight away (as money is a bit tight) or to wait possibly a few months for FOS :think:

But i guess that is what they are hoping, that people will settle for less than they are entitled to.:mad:

Laini

ANY_CHANCE wrote: »

Morning everyone,

It looks like first plus offer around 55% instead of the expected 75%. I think i remember daynurse saying this a while ago.

I am waiting for a rebate on 12,000 if FP offered me 6,000 i would have to think wether i needed the money straight away (as money is a bit tight) or to wait possibly a few months for FOS :think:

But i guess that is what they are hoping, that people will settle for less than they are entitled to.:mad:

Exactly

If you think about it
You initially only wanted eg 50,000
they then ask you to borrow more to put in their pocket e.g 10,000 (PPI)
which then you start paying it off monthly
which you could have just organised a monthly insurance which would cost you less than the payments for their single premium( if only we knew at the time)
and you would nt be stung with having to pay off the Single premium lump sum.
but at the time You are so stressed you think that they are not diddling you and making you borrow more money on their behalf.

so I think a single premium policy is useless and a costly bill we cant afford and shouldnt be sold to us by any company.

I am now getting off my soapbox!!:EasterBun
Laini xx

ANY_CHANCE

Well said Laini:beer:

Andy79_2

Hi Everyone,
I'm hoping someone in the forum could give me advice about my loan i took out in December 2006.It was for 5000 over 48 months,they added ppi although i am self employed and also added it to the loan so i pay interest on the ppi aswell.
I want to reclaim but don't know the best way to do it as Lloyds will not let me cancel it.Hopefully i can find the answer here,i may have to pay off the loan then claim back the ppi.
I really hope some moneysavers out there can help me,thanks Andy79