Thread: PPI and loan issues...

Hi

Any advice/help would be sooo very much appreciated with these issues as I have been battling with this on my own for quite a while but the more i look into it, the more confused i get with it, and am unsure as whether i would need to deal with this as three seperate issues or as a whole as there are issues with the first PPI and the second ppi plus major issues with the loan itself and whether you consider this ppi to be missold

I will try and be as brief as i can with this.

The company "Firstplus" are aware that i'm in dispute over this loan/ppi but nothing has gone in writing as yet as this is something i'm truly battling with "putting it all down on paper"

I have sent in a S.A.R - (Subject access request) and have received all my data and taped recordings although some were missing which i now have but feel there are still some missing.

I took out this loan in June of 2005 for £40k and attatched to this is a ppi of £9796.00 "I have to say at this stage, that as stupid as it may sound, I didn't even know what a ppi was then" and was just desperate and greatfull to be getting the loan as our credit history/rating was poor due to unforeseen circumstances sometime before "taking on three children at quite literally a moments notice "one day to be precise" from my o/h previous marriage, giving us a family of five children" and we thought we would use this oppotunity to pay all of our debts and credit up and have everything under one roof so to speak and try and make our lives a little more comfortable and affordable plus be able to go for a re-mortgage to bring our mortgage interest rate down to a normal high street lending rate rather than the rediculously high rate we was paying at the time, so basically we were trying to desperately mend our credit rating and make life more managable with five growing kids

Then we started the re-mortgage in July, which we had to write to First Plus for a deed of postponement and had to pay them a fee of £125.00 This is where it gets complicated...
we had a letter from our solicitor to say they could not register the mortgage at land registry as there was something pending, so i phoned the mortgage company and they told me it was first plus, they had still not registered this loan some 4 months later in October, I phoned FP and asked for my fee of £125.00 back as they could not charge us for something they had not even registered and without any delay they sent us a cheque so we had made them aware of this situation. Then in Febuary 06 we enquired about a further advance with FP as my Mother lived with us with Altzimers and went into hospital never to return to us thanks to both the hospital bugs, father-in-law was mugged and murdered for £40 and our grandson died, all in a very short space of time and now we were facing paying for two out of three funerals as there were no other funds available. This was where we learnt that the first loan was still never registered at land registry even though we had alerted them to this back in Oct 05, whilst re-mortgaging. We applied for the further advance in February 06 and was told that we had to consolidate the previous loan and start a fresh even though they called it a top-up/further advance We had no choice but to take it and was given 3k back off the ppi which was taken off previous loan and then given a another ppi on the new loan of now £14,694.00. I phoned Land registry and discovered that the first loan did not even get registered until the 22/02/06 and we signed our agreement for the new loan on the 16/02/06 and this was registered on the 07/04/06 "Could you tell me if this first loan has any validity? considering it was never registered until after we had taken out the second loan" there are lots of relevent bits i have had to miss out on this due to the length of the post for which I'm sorry...
But it's not until now that we are starting to understand all of this and now with hindsight plus listening to all the tapes, we can see how gullable we have been and maybe not so much gullable as not quite in the right mindsett due to so many bad things going on in our lives at that time

Whilst listening to the tapes, the sales rep has run through a spiel on the ppi but has done things in such a cunning and underhanded way by slipping questions in about the ppi after she has already given me something else to think of, such as asking what if any insurance did we have, i told her that we had various insurance cover such as, we both had life cover and we both had accidentle death cover plus my o/h has disability cover as he's an HGV Driver and that i wasn't 100% sure wether he got sick pay for 12 months but he definitely got paid full sick pay should he be off work but he had never used it cos he's a work-a-holic and has had no time off in 25 years and that some of these questions would be better put to my o/h as i'm unsure and some need to be looked into to give her a definite answer. I also explained that i was dissabled and on benefits which she made notes of but not at any one time did she ask outright if i wanted to take this ppi cover on and she never once explained that this was going to be cover for just my o/h and it was only when i first phoned them to complain that they had missold me this ppi cos i was disabled and they knew this as they had taken coppies of my benefits papers for my income but was shocked to learn that this was only my o/h that was covered and that they had given me just life cover, which i clearly did not need as i had told them i already had this. "So, should they have not asked all these questions to my o/h and not me? as i was so unsure of many of the questions they did ask? and it was only earlier this year when i heard of people claiming back on misselling of them that promted me to look into the paperwork and have now discovered also that on the signed agreement of the first loan, there are two boxes that have to be ticked if you wish to purchase the ppi but these have been left blank and un-ticked so does this mean they should not have added the ppi to our loan anyway?

I'm extremely sorry for the length of this post but unsure of how else to explain it to you

There are soooo many more issues to explain against this loan but i will leave it there for the time being in the hope that one of you very kind people will try and help or guide me into sorting this out

Thank you sooo much in advance for your time of which i'm so very greatful

Kind Regards
Minney.x

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Also,

The other angle i would like to throw on this is, I was the one that dealt with all of this from beginning to end so therefore it was me they were selling the insurance to even though i asked them to explain this to my hubby, "they never" and i at the time didn't know wot a PPI was and my husband is dyslexic, therefore the blind leading the blind as he could not read it and therefore it was down to me, to explain something to him that i had no knowledge/understanding of myself.

And surely they can't get away with selling something of that substantial amount of money to my O/H on answers like, ummmm! don't know, Not sure and you should give him a ring and ask him, when they knew it was covering him only. plus give us both life cover when i have stated quite clearly on more than one occasion to her that we both had life cover.

Firstly, Thank you soooo much for replying to me

I would be prepared to take it all the way if i had someone to guide me and help as i'm not to clever with the pc and my mathermatical skills are very poor to say the least.
I have spoken with them over this on many occasions so they are well aware that i have many issues with not only the PPI's but with the loan itself also, but I have put nothing in writing to them as yet, so everything from me has been verbaly expressed to them so far and i'm still paying for all and have no missed payments on either loan but if i cancel they will only give me £4315.29 of the £14,694.00 and credited to our loan account like they did with our first loan.
I have had two responce letters from them so far but the first was blatant lies from the complaints executive and he was caught out red handed, he has since been sacked over this and they first offered me £250 to keep my mouth shut and then in the second letter they offered me £400 but on both occasions i have told them that they can basically stuff it as this was the icing on my cake and very much a relervant part of my complaint/claim.

There are like i say, sooo many issues surrounding this but i was so concious of the length of the post and don't really know how to put it in brief as everything that needs writing is so relervant to my case but at the same time, very aware of the poor person that has to read it.

Firstly, if i was to give you all the figures of both loans and ppi would you be able to seperate the two and work out for me exactly what i would be paying over the 25 years for the ppi and the interest or would that be too cheeky of me to ask you that? as i do appreciate your very busy too.

Thanks once again for your interest.
Minney.x

Awwww! Thank you Tonycee

I have all the patients in the world if someone would be kind enough to help me through this, but it has been sooo frustrating trying to understand this on my own as my o/h is dyslexic, so no help there, not his fault 'bless him'

Thank you hun for posting

Minney.x

Subscribing to your thread Minney - my friend is in exactly same situation with First Plus and after successfully fighting a repossession order from them I found the same unbelievable PPI had been added to her loan. I am about to start fighting to get it back on her behalf so will watch your progress and advise where I can. This is my first attempt with PPI - I will sit back with a glass of vino and read all your posts so far.

You will get there And you will get lots of help here.

When we first had the agreement papers sent out to us to sign, the rep said that there was a difference in the two and we were to sign and send back "can't remember wot the difference was now" but we had to sign this one specific one but i had to phone her cos they were both the same with 'NO' difference and was unsure of which one we had to sign and send back cos obviously one was to be our copy to keep but the rep told us to just sign both and send them all back and she would sort out the right one for us and post our copy back to us and they did the same for both loans but when they sent them back to us, all they gave us was photo coppies and not any of the one's signed in biro. "Was just wondering if this is right that we should have photo coppies and not originals"?

On these agreements there is a box that reads.

By signing this document you confirm that you have read and understood the payment protection plan policy document which explains the main terms and conditions. You understand that cover is not provided for existing medical conditions or unemployment known or to be impending.

If yes, you wish to purchase (please tick)
there are two box's here, one Say's Single life, Accident, Sickness and involuntary unemployment.
And the second one Say's Joint life and single Accident, Sickness and involuntary unemployment.

"THEY ARE BOTH UN-TICKED, LEFT BLANK" Underneath it Say's
(Single cover applies to the first named borrower only;
Joint cover applies to the first two named borrowers only)

"DOES THIS MEAN WE HAVEN'T CONSENTED TO THIS PPI INSURANCE"???

There is another box further down that Say's, Other financial information.
Its got the interest in it but then it Say's,
You have applied to purchase payment protection plan insurance. The cash price (Premium) for this is £ This includes insurance premium tax at 5%..... "BUT THIS IS LEFT BLANK ALSO"

Whats your thoughts on this??

Sounds like a very strong argument in your favour Minnie. The arguments I intend to use for my friend are that she was never told that they could purchase similar insurance cover independently for far less money, the fact that it has been added into the initial loan balance and that interest has been charged on it for the past four years and also that it only covered her hubby. She also was led to believe that they stood more chance of getting the loan if she agreed to it. I am not as far on as you as I am going to send a SAR this week.

We are looking into another case where my OH had signed the PPI box (for a storecard where you probably aren't paying attention!) and there is a very bold tick which has been put in the box next to it which we are adamant was added afterwards - in which case it is we hope an invalid agreement.

Thanks for your kind words and support Goldlady, much appreciated

Maybe you could get me a glass and we can be enlightened together on this one

When i first started to read through some of the PPI section in the forum, i was getting a little worried as there didn't seem to be that many on Firstplus and thought i may be trying to fight a loosing cause and was getting a little disspondent but it's great to hear your friend has a similar problem with this company in the nicest possible way as it gives me a little comfort

Glass poured for you!! Sounds like you need it after what you have been through. OH and I have six kids between us - two each and two of our own. I have been a bit busy of late so haven't done much about my friend's claim :o but now I will get stuck in and hopefully we can help each other. Don't know what they would do if they got identical letters on the same day

Keep smiling

Clink glasses, and here's to us both Good luck to you and your friend

your friend is very lucky to have a good friend like yourself, I have much admiration for you, for taking this on for her

I'm smiling even if it's just for the support i've gain already in just one evening.

Kind Regards
Minney.x

You will get lots more once things start rocking and rolling

Hi Hell,

Forgot to mention that as the interest rate has gone up sooo many times in the last couple of months, we are now paying 9.5% and our monthly payments are now a staggering £633.07 per month.

Hope this hasn't mucked up any of your workings out or inconvienienced you in any way

OH MY GOD!! :o Hell, let me just get up from the floor hun, I'm absolutely speechless and :o to say the least at how stupid we have been.

Where do i go from here? cos we haven't even covered the juicey bits of this case yet and their antics on my loan.

You are correct in the fact that it's all front loaded and we are suppose to get the full amount back at the end of the five years as "cashback" but they can obviously afford to do that when you have already paid it to them 4x over huh?

Don't know about the £300 discrepancy, and 'NO' no arrangement fee.