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HELP First Plus PPI!!!!
monaghan45
Posts: 3 Newbie
in Loans
Hi everyone,
This is my first post on here and i would like a little advice,
12 Months ago my hubby and i took out a loan with First Plus, was informed about PPI and said we didn't want it, they informed unless we had their PPI we could not have the loan being offered but after 5 years if no claims made we will receive the full premium back by cheque to spend how we like or to pay off the loan.
Therefore we took out the PPI and paid a single premium of £6112.00 which was added to the loan.
However since reading on here i have tried to cancel the policy and they have written back offering us £1534.44 in respect of the premium paid. This is where i am confused, if we have paid a single premium of £6112.00 surely that is what we should be refunded as they mis-sold it in the first place.
Any advice greatly received i want to write back knowing the facts and understanding exactly what i am talking about.
Sorry for rambling!!!!
This is my first post on here and i would like a little advice,
12 Months ago my hubby and i took out a loan with First Plus, was informed about PPI and said we didn't want it, they informed unless we had their PPI we could not have the loan being offered but after 5 years if no claims made we will receive the full premium back by cheque to spend how we like or to pay off the loan.
Therefore we took out the PPI and paid a single premium of £6112.00 which was added to the loan.
However since reading on here i have tried to cancel the policy and they have written back offering us £1534.44 in respect of the premium paid. This is where i am confused, if we have paid a single premium of £6112.00 surely that is what we should be refunded as they mis-sold it in the first place.
Any advice greatly received i want to write back knowing the facts and understanding exactly what i am talking about.
Sorry for rambling!!!!
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