PPI Reclaiming discussion Part II

milliemonster

Morning!, just reading back through the posts, yes Di I took the loan with First Plus in Feb 2007, still awaiting documentation back from GE for the other loan we had with them, it's been a week now but I guess they still have time!

Have sent the relaim letter to First Plus today (with no mention of figures as advised!) by recorded delivery so I figures they have til around 18th December to write back (and tell me to get stuffed probably!!!)

marshallka

di3004 wrote: »

When we were waiting for the money to come through from nemo, we were desperate, and due to hubby coming out of work as you know the plant went down under, the loan was sold to me in Dec 2007, no ppi though.

I will keep to the ppi complaints now on the loans, and see what we come up with.;)

How on earth did you get the loan having no household income at all. This is so wrong. Did they throw it at you or did you actually ask...

di3004

marshallka wrote: »

How on earth did you get the loan having no household income at all. This is so wrong. Did they throw it at you or did you actually ask...

No I did not ask, we were put in a situation of having the overdraft knocked to a certain amount, and told this was the only way to do it !!!
We were vulnerable hun and did not know what else to do with no pay from hubbys works and christmas etc, so with that loan it paid off the overdraft and some spare for christmas, we even asked if they could keep the overdraft limit on a bit longer, the lady bank manager left the room to ring the department who deals with these (well she said she did) then came back and said they would not do it !!!

In that case why why was I allowed a loan ??? My mind not thinking straight then, we were in a right mess !

If we did not have the loan, the overdraft would be removed and yet we were in it, do you know what I mean ??
It was a very desperate time !!

di3004

milliemonster wrote: »

Morning!, just reading back through the posts, yes Di I took the loan with First Plus in Feb 2007, still awaiting documentation back from GE for the other loan we had with them, it's been a week now but I guess they still have time!

Have sent the relaim letter to First Plus today (with no mention of figures as advised!) by recorded delivery so I figures they have til around 18th December to write back (and tell me to get stuffed probably!!!)

Good one hunni.;)

With a bit of luck you will be successful first time.

Hope you hear sooner rather than later.:D .

marshallka

milliemonster wrote: »

Morning!, just reading back through the posts, yes Di I took the loan with First Plus in Feb 2007, still awaiting documentation back from GE for the other loan we had with them, it's been a week now but I guess they still have time!

Have sent the relaim letter to First Plus today (with no mention of figures as advised!) by recorded delivery so I figures they have til around 18th December to write back (and tell me to get stuffed probably!!!)

hiya milliemonster, I am glad your letter is done and dusted here. Lets hope you get the sum I did last night but I would imagine that that sum is a little high as I said due to in the settlement interest part of the rebate (as firstplus do) then there was a proportion of that that applied to the PPI. Its up to them now to prove how much and maybe you will not have to go the FOS with this one. This was after 2005 and there are times when I have read on here that they do pay up just like that. You never know so fingers crossed for you.

marshallka

di3004 wrote: »

No I did not ask, we were put in a situation of having the overdraft knocked to a certain amount, and told this was the only way to do it !!!
We were vulnerable hun and did not know what else to do with no pay from hubbys works and christmas etc, so with that loan it paid off the overdraft and some spare for christmas, we even asked if they could keep the overdraft limit on a bit longer, the lady bank manager left the room to ring the department who deals with these (well she said she did) then came back and said they would not do it !!!

In that case why why was I allowed a loan ??? My mind not thinking straight then, we were in a right mess !

If we did not have the loan, the overdraft would be removed and yet we were in it, do you know what I mean ??
It was a very desperate time !!

Ahh, you already owed some money to the overdraft then!! That would explain it. They knew you owed it and were giving you the option of transferring this to a loan. Either way, then you still owed them money. They would have got it somehow. I suppose it was in actual effect cheaper then than paying the hefty overdraft fees if your overdraft went over the limit.

We have an overdraft but try not to use it anymore than we really have to. We pay the privelege part of the account with ours and it gives us so much overdraft. We are in it now and paying for it really but hopefully we should be able to pay that back soon. Then we will have to cut our cloth according to our garment so to speak.

di3004

marshallka wrote: »

Ahh, you already owed some money to the overdraft then!! That would explain it. They knew you owed it and were giving you the option of transferring this to a loan. Either way, then you still owed them money. They would have got it somehow. I suppose it was in actual effect cheaper then than paying the hefty overdraft fees if your overdraft went over the limit.

We have an overdraft but try not to use it anymore than we really have to. We pay the privelege part of the account with ours and it gives us so much overdraft. We are in it now and paying for it really but hopefully we should be able to pay that back soon. Then we will have to cut our cloth according to our garment so to speak.

Thanks hun, yes that is what I thought.;)

We were moved up from platinum to the premier account, but we may request to have this changed again as we pay £10 each for this every month =£20.
It should work out a little cheaper a month.;)

marshallka

I suppose when credit is sold to anyone not working as these "door to door" people do then it is legal but mostly the APR is wicked as they are in the sub prime end of the market. You were perhaps lucky then Di to have the credit offered from the bank when you actually owed them money anyway as if they had not offered this facility to you then you would have probably not been able to to pay this off and got yourselves into more trouble and HAD to take another loan at a very large APR like people do. I would think of that loan as a lesson and also a godsend as you have not got a CCJ due to this that you already owed and also not had to go to another unscroupolous lender to pay off the overdraft.

marshallka

di3004 wrote: »

Thanks hun, yes that is what I thought.;)

We were moved up from platinum to the premier account, but we may request to have this changed again as we pay £10 each for this every month =£20.
It should work out a little cheaper a month.;)

We pay the lowest and that is privelege account and was going to upgrade to the premier but tooo much money so we are sticking with the lesser one.

di3004

marshallka wrote: »

We pay the lowest and that is privelege account and was going to upgrade to the premier but tooo much money so we are sticking with the lesser one.

I agree, so I am going to request this too.;)