First Plus PPI

chunky993

Hi I was wondering if anyone else has had any experience of claiming back PPI from First Plus? I wrote to them after being charged almost £3000 for PPI which I didn't ask for, which was added to my loan. This cover only lasted 5 years even though my loan was for 15. I was told I couldn't cancel it as it had already been added to my loand, and the money had been issued to me, but that I would get all the premium back if I didn't claim off it. I ended up cancelling my loan after 4 years as the interest rates kept increasing at the mere snifter of an interest rise from the BOE but the rates never decreased! I was informed I would not get any money back as the PPI was a 5 year policy and early cancellation means you lose the entitlement to claim it back if no claims had been made on it. I wrote in as advised by Martin, and asked for the premiums back as I had not asked for the PPI, had not been asked any medical questions to see if it was an appropriate policy for me and I had tried to cancel it within the 30 days, but was told I couldn't. It took a few letters, and eventually they have offered me £890 as a 'good will gesture' but stress they have done nothing wrong. I feel I am entitled to more back than that, my question is...should I now pass it to the ombudsman and try and get more, or accept the offer? They clearly do think they may lose or they wouldn't have offered my anything.....help!

johnhy

dont accept anything from them untill you are satisfied with the amount which should be 3000 plus interest
the policy has been miss-sold as per your comments
dont forget First Plus have been fined by the FSA for missselling these policies

chunky993

Thanks for the reply Johnny. I have not accepted the offer, I thanked them nicely and then told them I would be seeking legal advice. They have stated that they will not be entering into any further correspondance regarding his, so should I refer it to the ombudsmen..if I do, and lose, will I still be able to claim the 'good will gesture'?