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  • FIRST POST
    • Laura&123
    • By Laura&123 11th Apr 19, 7:17 PM
    • 5Posts
    • 1Thanks
    Laura&123
    First Direct PPI
    • #1
    • 11th Apr 19, 7:17 PM
    First Direct PPI 11th Apr 19 at 7:17 PM
    Hi,

    I finally sent a letter to First Direct and yesterday I received copies of 4 loan agreements I had with them between 1996 and 1999, all with front loaded PPI. I haven't seen many First Direct claims on the forum so just wondered what my chances of success are? (had cover through employment and was told I had to have the ppi to be accepted for loan)

    These were all consolidation loans - very shocking to see how much PPI plus interest for PPI policy was added. Each time I paid the loan off and took out another one extending the term. I was paying loans for nearly 4 years but ended owing more than double the original loan amount!! A big mess which got me into alot of debt. I also had an overdraft and credit cards need to check ppi on those too.... At the time I was very niave but eventually managed to pay them off.

    1. April 1996 = loan over 36months 4000 + Interest 924 + ppi 540 + ppi interest 124.74
    Monthly payment = 155.25

    2. August 1996 = loan over 48months 5800 + interest 1658.80 + ppi 932.35 + ppi interest 265.98 Monthly payment = 180.31

    3. January 1998 = loan over 54months 6400 + interest 2114.48 + ppi 1208.21 + ppi interest 396.46
    Monthly payment = 187.24

    4. June 1999 = loan over 84 months 8500 + interest 4205.97 + ppi 2062.18 + ppi interest 1019.33
    Monthly payment = 187.93

    Many thanks!
Page 1
    • Nasqueron
    • By Nasqueron 11th Apr 19, 8:18 PM
    • 7,371 Posts
    • 4,642 Thanks
    Nasqueron
    • #2
    • 11th Apr 19, 8:18 PM
    • #2
    • 11th Apr 19, 8:18 PM
    Single premium PPI should be enough to win you the case assuming nothing else bars it (like a time bar letter), feel free to mention other stuff but you'll find your work benefits weren't as good as you think and you can't prove the being told you had to have it.
    • Moneyineptitude
    • By Moneyineptitude 11th Apr 19, 8:27 PM
    • 23,594 Posts
    • 12,933 Thanks
    Moneyineptitude
    • #3
    • 11th Apr 19, 8:27 PM
    • #3
    • 11th Apr 19, 8:27 PM
    These were all consolidation loans - very shocking to see how much PPI plus interest for PPI policy was added. Each time I paid the loan off and took out another one extending the term. I was paying loans for nearly 4 years but ended owing more than double the original loan amount!! A big mess which got me into alot of debt. I also had an overdraft and credit cards need to check ppi on those too.... At the time I was very niave but eventually managed to pay them off.
    Originally posted by Laura&123
    This looks to be a definite uphold.

    Forget the employment cover and being told it was compulsory and concentrate your complaint on the fact that you effectively took a loan on a loan to term end with huge additional interest. Every time you consolidated, the cost of the PPI (after rebate) from the previous loan was added to the new one.
    Last edited by Moneyineptitude; 11-04-2019 at 8:36 PM.
    • Laura&123
    • By Laura&123 24th Apr 19, 10:44 PM
    • 5 Posts
    • 1 Thanks
    Laura&123
    • #4
    • 24th Apr 19, 10:44 PM
    • #4
    • 24th Apr 19, 10:44 PM
    Letter received from First Direct today acknowledging my complaint which said they'll be in touch within 8 weeks....
    • Biscuitgirl
    • By Biscuitgirl 9th May 19, 6:02 PM
    • 2 Posts
    • 2 Thanks
    Biscuitgirl
    • #5
    • 9th May 19, 6:02 PM
    • #5
    • 9th May 19, 6:02 PM
    I went through First Direct's online banking message service. Haven't had any thing in writing from them... but today have received a PPI refund of 400 straight into my account! What a lovely surprise as I'd forgotten all about it!
    • Laura&123
    • By Laura&123 16th May 19, 10:16 PM
    • 5 Posts
    • 1 Thanks
    Laura&123
    • #6
    • 16th May 19, 10:16 PM
    No response yet from First Direct....
    • #6
    • 16th May 19, 10:16 PM
    That's good news Biscuitgirl!

    I registered my PPI complaint online on their website (11th April) and I'm still waiting to hear. I also sent 10 for a SAR about 3weeks ago as I had a credit card , bank account, overdraft, plus the 4 loans I've complained about. I've heard nothing yet..... They banked the cheque but I've since read SAR's are now free? Does anyone know?
    • Moneyineptitude
    • By Moneyineptitude 16th May 19, 10:47 PM
    • 23,594 Posts
    • 12,933 Thanks
    Moneyineptitude
    • #7
    • 16th May 19, 10:47 PM
    • #7
    • 16th May 19, 10:47 PM
    SARs are indeed free, why did you send a cheque without investigating this? They have 40 working days to respond (and refund your payment)

    As to your actual complaint, four weeks on is not eight weeks, so no surprise that there has been no response yet.
    • mobileron
    • By mobileron 17th May 19, 7:58 AM
    • 180 Posts
    • 88 Thanks
    mobileron
    • #8
    • 17th May 19, 7:58 AM
    • #8
    • 17th May 19, 7:58 AM
    I had 2 payments from FD,credit cards,2500, then 6 months later 5k for mortgage.

    Was a pleasure to deal with there staff and still the best customer services in UK.
    • Laura&123
    • By Laura&123 17th May 19, 1:56 PM
    • 5 Posts
    • 1 Thanks
    Laura&123
    • #9
    • 17th May 19, 1:56 PM
    • #9
    • 17th May 19, 1:56 PM
    Unfortunately I must have read old information online about sending 10 for SAR and I only found out it was free on another forum.
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