PPI Reclaiming discussion Part II

sparky0107

Hi everyone,
Got the response below from m.colak regarding post for my brother. Does anyone know if there is a template letter which covers the reclaim of the application assessment, which apparently they should not have charged my brother?

Originally Posted by sparky0107
Morning everyone,
Finally got my brother on board with reclaiming, hes received his SAR back from igroup, on the paperwork there is a "brokers" fee of £1500 & also a "lenders application assessment & competion cost" of £500. Does anyone know what this means?

Thanks in advance

m.colak replied with

Hi Sparky,

the brokers fee means that they are liable and responsible for the mis-sold ppi policy and it means that when you reclaim you send all letters to them. The application assessment is purely a loan setup fee and you should NOT have paid this as additional as they had already received a brokerage fee and as such weren't involved in the actual processing of the loan.

Once again thanks in advance for any help.

Also found the Associates are now owned by citibank, thans di

Laini

tiggrae wrote: »

honestly Laini I think that's the right decision, if there's nothing new then nemo will use it as an excuse to delay !!! Really hope it goes well !!!

The letter was just a nudge as Di says to say 'whats going on and we are still here waiting.'
I didnt want to put my foot in it and do any harm.
so I am in the hands of the gods now- just a waiting game:cool:

dave3761

Hi There
I am new to all this forum stuff so excuse me if I have put this in the wrong place. I wrote my first claim letter for PPI off to first plus last week claiming rebate of about £12,000 of a PPI that was undoubtedly mis-sold to me about 5 years ago, they told me I had to take it or I might not get the loan, the interest rate would be higher etc, they did not mention though that I would be paying interest for the whole term of the loan, all the usuals and even promised me that I would get all the cashback if I did not claim in the five years of the policy. I did not claim but they are refusing the cashback because about 12 months ago I got into difficulty and missed a couple of payments. So in effect they are fining me £12000 for missing a couple of payments. What can I expect from first plus and has anyone else had dealings with them? there doesn't seem to be many first plus mentions in the success stories. Any guidance advice much appreciated. Thanks Dave.

di3004

dave3761 wrote: »

Hi There
I am new to all this forum stuff so excuse me if I have put this in the wrong place. I wrote my first claim letter for PPI off to first plus last week claiming rebate of about £12,000 of a PPI that was undoubtedly mis-sold to me about 5 years ago, they told me I had to take it or I might not get the loan, the interest rate would be higher etc, they did not mention though that I would be paying interest for the whole term of the loan, all the usuals and even promised me that I would get all the cashback if I did not claim in the five years of the policy. I did not claim but they are refusing the cashback because about 12 months ago I got into difficulty and missed a couple of payments. So in effect they are fining me £12000 for missing a couple of payments. What can I expect from first plus and has anyone else had dealings with them? there doesn't seem to be many first plus mentions in the success stories. Any guidance advice much appreciated. Thanks Dave.

Hi Dave.;)
You have come to the right place hun so no worries there.;)

A lot I know of have had dealings with First Plus, now we need to check if these were regulated by GISC who are regulators, these changed to the FSA in January 2005.
We can still try to reclaim on this but if you have not all the paperwork sometimes a SAR (Subject Access request) may help which will cost £10 by cheque payment, but if you've enough information to go by then you will save a tenner by not doing this.;)

There is a template on this site, you should be able to find this on the front page, or maybe someone can post this link for you, myself I have not checked here but there are a few templates available.

I do really think its worth a try, like you said you feel like you've been mis sold, and have already sent in a letter to reclaim this.
And in my opinion going from what you said you have obviously been mis sold.

The first letters are normally standard fob off letters you receive from the loan companies but do not give up, because there are lots more steps to take.

As soon as you hear please post up and we will take it from there.
Hopefully though they will come up with the money.;)
If you need further info please just yell, these lot here are a marvellous lot and will point you in the right direction.

Good luck hun
Di
xx

dave3761

Thank you Di

I have all my paperwork luckily it's just a bit daunting when you take on these big companies and it's really good to see the support everyone gives to each other on here. I have sent the very first template letter which basically just outlines my complaint and why I feel it was mis sold. We'll see what they say but I am not going to give up on this, 12grand is the figure without interest god knows how much they will take if you include the interest. Unbelievable! I can't afford to kiss goodbye to 12k without a fight. So sleeves up and here we go!!!!

Will post when they eventually bother to reply.

Dave

m.colak

It was on the news today that Firstplus have stopped selling loans now. Prehaps its because they've realised how bad they been so far and want to do a bit of damage limitation.

isthisamiracle

Please can anyone give me a little direction about were to go next. I have sent and recieved a letter back from abbey, regarding a complaint for mis-selling based on the sales person on the telephone were I made the application advising me to take ppi. I signed the agreements that were sent to me following the telephone call to take out ppi. They are refusing to refund my ppi, but will cancel it following my request. They say I was given the correct information, no evidence to say they would have not followed their procedure and that I signed the document , which was optional and had not informed them within the time limit or since to say I was unhappy with it. They say they have not got a recording of the conversation on tape has they do not keep recordings for longer than necessary. (The loan started nearly a year and half ago.) They have requested if I am not happy to go to the Finacial Ombudsman. What do I do now!

pumpkin25uk

wrote to the bank last year ago trying to claim back my ppi on a credit card, the bank wrote back to me and basically the letter said no chance, so i took it to the F ombudsman,after 12 months of waiting i got this letter from F ombudsman, this morning. the bank of scotland is accepting no liability for mis selling me ppi on a credit card.
however they are making a goodwill gesture, which goes like this=
"pay compensation equivalent to the total of the amounts you have paid in respect of the ppi premuims and interest charged to you on the loan of any amount to pay these premiums."
"pay to you interest at 8% simple per annum on the amounts you have paid in respect of the premiums from the date each payment was made to the date the compensation is paid."
if i would like to accept this offer please sign and date form enclosed.
is that a fair offer and can i celebrate!!

problem is i'm not sure exactly how much is owed, the credit card was taken out about 10 years ago, are the halifax likely to pull a fast one. how can i find out an exact figure owed to me?
appreciate any feedback thanks

Laini

dave3761 wrote: »

Thank you Di

I have all my paperwork luckily it's just a bit daunting when you take on these big companies and it's really good to see the support everyone gives to each other on here. I have sent the very first template letter which basically just outlines my complaint and why I feel it was mis sold. We'll see what they say but I am not going to give up on this, 12grand is the figure without interest god knows how much they will take if you include the interest. Unbelievable! I can't afford to kiss goodbye to 12k without a fight. So sleeves up and here we go!!!!

Will post when they eventually bother to reply.

Dave

good luck
take it to the FOS if you dont get it -I did and got it back with interest
shout if you need help
Laini x

tiggrae

m.colak wrote: »

It was on the news today that Firstplus have stopped selling loans now. Prehaps its because they've realised how bad they been so far and want to do a bit of damage limitation.

what's interesting is that it's someone from their parent company barclays, who's pulled the plug - this guy has been trying to find a buyer for first plus for 2 couple of years now - I really don't think barclays want to be associated with it anymore