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freedom Finance ppi agreement help
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diggie90
Posts: 3 Newbie
Hello,
I've been trying to reclaim PPI from my credit agreement and found it quite perplexing thus far.
I got a loan for £17000 secured on my house for 120 months and was told i needed PPI by freedom finance at a cost of £3K+, unbeknownst to me at the time was a broker. So the loan was set up with firstplus (baclays) which ive been paying since 2005.
the credit agreement was subsequently bought by Elderbridge Ltd who I now make the repayments to, it has now been 126 months and according to elderbridge I've still another 43 months of repayments to make.
I spoke with first plus who told me freedom finance had ceased trading and to contact FSCS which i have, they told me they are taking claims for this company??
What going on, I'm paying for PPI that according to Elderbridge I haven't actually got and didn't want in the first place.
Can anybody help this confused person find a solution?
I've been trying to reclaim PPI from my credit agreement and found it quite perplexing thus far.
I got a loan for £17000 secured on my house for 120 months and was told i needed PPI by freedom finance at a cost of £3K+, unbeknownst to me at the time was a broker. So the loan was set up with firstplus (baclays) which ive been paying since 2005.
the credit agreement was subsequently bought by Elderbridge Ltd who I now make the repayments to, it has now been 126 months and according to elderbridge I've still another 43 months of repayments to make.
I spoke with first plus who told me freedom finance had ceased trading and to contact FSCS which i have, they told me they are taking claims for this company??
What going on, I'm paying for PPI that according to Elderbridge I haven't actually got and didn't want in the first place.
Can anybody help this confused person find a solution?
0
Comments
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Complain to the FSCS since it's your only option and then use any redress to pay it off your loan.Non me fac calcitrare tuum culi0
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You complain to the seller. The seller in this case no longer exists but was after 14th Jan 2005. So, you have access to the FSCS. They will consider your complaint.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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Sorry my post states fscs are taking claims for this company that was a typo, they said they are currently not accepting claims for this company0
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I have just checked the FCA register and it shows freedom finance as still active but only from 2014.
The FSCS only deal with companies that have gone or are in default. So, you should complain to Freedom Finance. Although if they only became authorised after firms stopped selling PPI. (maybe its a different freedom finance).
When did you take out the loan? (in case it is pre-regulation which may explain why there isnt a firm of that name authorised on the FCA register before 2014)I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
The loan was taken out 20050
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When in 2005? Regulation started January 14th 2005.Non me fac calcitrare tuum culi0
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The Freedom Finance Ltd registered with companies house was incorporated in 2007. Their company number is 06297533.
There was also another Freedom Finance Ltd with the number
02973364 which I think was your Freedom Finance.
I would write back to the FSCS and point this out and make plain you are complaining about the second freedom finance.Non me fac calcitrare tuum culi0
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