FirstPlus 2004 Loan - PPI Claim?

amersall

Sorry but FP did not sell you the PPI so are not liable, due to the year this was taken out the Ombudsman cannot help as you know.

dunstonh

I read somewhere to try someone else and did so with Charterhouse claims who sent us a copy letter they had apparently sent to the Financial Ombudsman, this was back in 2012, all with no luck.

it wouldnt have any luck as the FOS can only deal with complaints against firms that are still trading or have assets. As the company is dissolved, the FOS have no remit.

Having just read an old thread regarding FP I wonder is someone could confirm that in fact First Plus were jointly reliable for any PPI claim?

FP are only responsible for PPI that they sold. Not PPI that was sold by third parties.

Dogbiscuit

I'm coming to the PPI party very late as I'm unsure if I have a chance.

I took a secured loan with FirstPlus at the end of 1999. £17000 plus £4163.30 PPI premium. I had a redemption figure of £22,243.65 in July of 2000 and later in July 2001 was told the redemption figure was £22,916.61 After another year of paying £255 per month my settlement figure had gone UP nearly £700. When I called to query why it had increased they said it was because my payments in the early stages of the loan were just paying the insurance premium. I remortgaged at that stage and paid off the debt. I am still livid at the amount of money it cost me and after being with them for 2 years ended up owing nearly £6000 more than I had before and I'm sure the PPI was the biggest cause of this. The initial introduction I think came from Norton Finance. Does anyone think I have a chance of reclaiming and getting something back? Should I approach Norton Finance or Firstplus or just put it down to experience and forget about it?

dunstonh

Dogbiscuit wrote: »

I'm coming to the PPI party very late as I'm unsure if I have a chance.

I took a secured loan with FirstPlus at the end of 1999. £17000 plus £4163.30 PPI premium. I had a redemption figure of £22,243.65 in July of 2000 and later in July 2001 was told the redemption figure was £22,916.61 After another year of paying £255 per month my settlement figure had gone UP nearly £700. When I called to query why it had increased they said it was because my payments in the early stages of the loan were just paying the insurance premium. I remortgaged at that stage and paid off the debt. I am still livid at the amount of money it cost me and after being with them for 2 years ended up owing nearly £6000 more than I had before and I'm sure the PPI was the biggest cause of this. The initial introduction I think came from Norton Finance. Does anyone think I have a chance of reclaiming and getting something back? Should I approach Norton Finance or Firstplus or just put it down to experience and forget about it?

You complain to the broker that sold it to you.

antrobus

Dogbiscuit wrote: »

....The initial introduction I think came from Norton Finance. Does anyone think I have a chance of reclaiming and getting something back? Should I approach Norton Finance or Firstplus or just put it down to experience and forget about it?

FSCS


http://www.fscs.org.uk/news/2012/july/norton-insurance-services-limi-c1gy4b01t/

jellie

antrobus wrote: »

FSCS


http://www.fscs.org.uk/news/2012/july/norton-insurance-services-limi-c1gy4b01t/

Dogbiscuit says their loan was taken out in 1999.....

[Deleted User]

jellie wrote: »

Dogbiscuit says their loan was taken out in 1999.....

Yes, pre-regulation and therefore outside the scope of FCSC. I'm sure Antrobus has looked at the thread title..

woody5

Hi
I sent of the letter to firstplus and had a reply from Eldridge to say they had passed the complaint to Barclays. Had another letter today from Firstplus saying that The Personal Loan Express Ltd sold us the ppi and they are no longer trading so they cannot help but to try FSCS who help with companies that cease trading.
Has anyone else gone down this route?
Thanks

dunstonh

woody5 wrote: »

Hi
I sent of the letter to firstplus and had a reply from Eldridge to say they had passed the complaint to Barclays. Had another letter today from Firstplus saying that The Personal Loan Express Ltd sold us the ppi and they are no longer trading so they cannot help but to try FSCS who help with companies that cease trading.
Has anyone else gone down this route?
Thanks

The FSCS only consider complaints about PPI if the loan (and PPI) was bought after January 2005. If it was before then, then the FSCS cannot help as it is pre-regulation.

woody5

Thank you
We took ours out April 2006 I think, so would I just send a letter similar to the template on this page with a few adjustments?