Freedom Finance/First Plus

Tangel

Hi I sought some advice from the forum quite a while ago regarding a PPI claim for a First Plus loan which was organised by Freedom Finance. At the time, somebody advised that we contact some financial services body which we did but never heard anymore. I cannot locate my original message. Can someone please assist?

Thanks

Tangel

amersall

Hi again,I presume it is the FSCS who were contacted,why has he left it this long after getting no response?.

Get him to call them asap.
http://www.fscs.org.uk/contact-us/

Tangel

Amersall

Thanks so much for responding. Left it so long due to promotion/kids. We are on to it.
:j

[Deleted User]

Tangel wrote: »

I cannot locate my original message. Can someone please assist?l

You appear to have been contemplating this complaint for more than two and a half years!

Here are you two previous threads on the subject.
https://forums.moneysavingexpert.com/discussion/comment/68020663#Comment_68020663

https://forums.moneysavingexpert.com/discussion/comment/64521030#Comment_64521030

Tangel

Well we have spoken to them and it appears they did not receive our original online application. They sending out a new application.

Tangel

Amershall or anyone else who could assist

We have now got the from from FSCS. I am a bit unsure what to put in some boxes.

For the reasons why making the claim do I put single premium or something else?

Also the only documentation that we have is a letter from Freedom Finance confirming the loan is in place. Will this suffice or do we need to try and obtain further documentation? If so, who do we send the letter to as they are no longer in existence.We have asked the ex if she has anything but we doubt it.

Nasqueron

Tangel wrote: »

For the reasons why making the claim do I put single premium or something else?

.

Was it single premium? If so, put that, if not, don't

Otherwise just put your normal complaint reasons why you feel you didn't need the cover e.g. work benefits that would cover you if you were off work for a period. You may be asked to provide evidence to support your claims. Do note you should be wary of claims like "parents would have paid it off" (indicates a need for PPI as you didn't have any way to pay it off yourself if you had issues) or "had savings" (in which case why take a loan out); also "I was told to have it" is hearsay and can't be proven

Tangel

What exactly does a single premium mean? It was a joint loan

Nasqueron

Tangel wrote: »

What exactly does a single premium mean? It was a joint loan

Single premium means the PPI was included in the loan so you end up paying back the PPI + interest on top of it which can be pretty hefty charges - you would have one monthly payment for the PPI and loan together rather than separate ones

Oh and if it was a joint loan you will get a 50/50 split with the ex, try and keep them on good terms as the bank may need joint signatures to claim or pay out

Tangel

Well I have spoken to the FSCS who advise that I need to have the date the policy started else it will be rejected. Does anyone have the address for Wilmslow Financial Services who took over Freedom Finance so I can gain copy documentation?

[Deleted User]

Tangel wrote: »

Well I have spoken to the FSCS who advise that I need to have the date the policy started else it will be rejected.

Is this perhaps why you didn't hear back from FSCS the first time you wrote to them a couple of years back?

If you don't have any documentation from your own archive, I think you are going to struggle advancing this...