Thread: PPI QUESTION (mines with FIRST PLUS)

There are so many threads relating to PPI but am I correct

if you took a loan from First Plus in 2006 and was sucked into their CASHBACK PPI - thats tough luck, you can't claim back.

Surely the law should be changed if the insurance is tagged onto the loan amount and you end up owing more than you borrowed in the first place.

Incidentally, I have just had our first ever rate decrease from First Plus despite the Bank of England reducing their rates several times over the term of our loan.

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I have been able to reclaim all of my PPI based on their Cashback Scheme - albeit that I haven't received the money yet. I have been sent an acceptance letter that I have been asked to sign outlining that I will be receiving the PPI that have been added to the Loan complete with interest paid back onto the Loan, plus all premium I have paid to date with interest. I sopke to the Complaints Manager yesterday who advised that it would be another few weeks before I got my money back as the financial department had a 'backlog'.

Not bothered about that reallly, as time is what I've got!!!!

Originally Posted by reidnet

Hi Joolzh13,
Ohh the Cashback from Firstplus.. Well at the momment this is a problem that I am looking into in some detail. In fact Im gathering as much info as I can regarding Firstplus who I have had a few fights with.

Please let me know what stage you are with your complaint to Firstplus, If in fact you have started to try to reclaim your PPI.

If you are just about to start to reclaim please let me know and I will pass you some good Information regarding Firstplus and their PPI with Cashback.

Ian

Hi - I haven't started anything yet, I found this thread whilst I was looking for information on rejecting a vehicle and looks like another can of worms for me to sort.... where do I begin with the claim is it a simple letter to First Plus?

Originally Posted by Demtootief

I have been able to reclaim all of my PPI based on their Cashback Scheme - albeit that I haven't received the money yet. I have been sent an acceptance letter that I have been asked to sign outlining that I will be receiving the PPI that have been added to the Loan complete with interest paid back onto the Loan, plus all premium I have paid to date with interest. I sopke to the Complaints Manager yesterday who advised that it would be another few weeks before I got my money back as the financial department had a 'backlog'.

Not bothered about that reallly, as time is what I've got!!!!

Hi,

I started a thread here some time ago about First Plus and as of today they have agreed to pay back £7,000 approx off the final settlement figure. I am unsure whether to accept this sum or take it further. I am talking in the region of £45,000 (20,000 cash back sum and approx 2.5 years of payments which amounts to 25,000) if I was to take it to court and be successful). Trouble is I have no spare money to engage a solicitor and pay for court costs if I lost. How did you go about getting all your money back and what reason did you give them?

Kind regards,
Doozie

Hello Joolzh,

I am not familiar with First Plus but I am putting in a link to Martin Lewis Money Saving Expert site to another Forum for people with First Plus problems. I hope the mods on here are ok with this and hope you may find some useful information from the link.

First Plus PPI - MoneySavingExpert.com Forums

all the best
aa