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Hello everybody,
My wife and I are new to the site and are now in the process of waiting for the fos to deal with our complaint about First Plus and PPI.
We are wondering if anyone else has gone down this route and if so with what success as this is new terratory for us and if we fail at this hurdle where do we go next.
If you need any info in particular that has got us to this stage we are happy to oblige
Welcome. you will find a few Firstplus claims throughout the forum.
Would be useful for all to understand how far you have taken your claim against Firstplus and what the rationale for claiming is.
Hello Braveheart,
We were watching a programme back in February called I think Martins money. So we started looking into PPI further and got a set of standard letters off his website.
We sent the first one to First Plus towards the end of March of this year stating we believe we had been misold for the following reasons.
1. The salesperson did not sell us the policy in our best interests as we did not realise thre policy would only cover me for 5 years and that we would be paying for 20 years.
2. Therefore we questioned whether or not the salesperson was financially qualified.
We then got a standard reply off someone called Silver, who stated the usual of no irregularities and a copy of our signeed agreement. Which does show it all lumped together with a small quote of optianal insurance. But by the time you get the paper work to sign you feel obliged to sign or you will not get the loan.
However as he had not answered our questions we sent the next letter giving him 14 days to reply or we we would go to fos.
We then had another letter saying it would be looked at again and they would reply in due course. But we had one back a few days later saying they would cancel our policy and give us back £917 less admin fees but we would not be able to claim our £7,500 pounds back next Febuary, and no mention of adjusting our payments accordingly.
So we have now gone to the FOS.
There is al ittle more detail then this but my wife would have to get all the letters out
so I have done this from memory.
Hope this helps
Littleton
Im not sure about this one, but this is my opinion.
From what I can gather the evidence you need has been given to you i.e. they have not made it clear how much PPI you will be paying on the agreement, can I ask is it clear on the agreement how much the PPI is and is it clear that you will be paying interest on it?
Also when did you take out the loan & did you complete a demands and needs statement?
Will try to help if i can.
Lloyds TSB (SARS) request sent 9th June 2006
£2191 Moneyclaim Issued 11/08/2006, Acknowleded 17th August Defence 14 Sep, AQ returned 5/10/2006.SETTLED IN FULL £2,670 26/11/2006/ Lloyds Credit Card SETTLED IN FULL £267 MBNA SETTLED IN FULL 15/09/2006 £829 Citicard (SARS) request sent 22nd June 2006 Moneyclaim issued 19th Sep, Defence and AQ received 5/10/2006, AQ returned 5/10/2006, part refund received 10/10/2006
GE MONEY SETTLLED IN FULL £400
Barclaycard Me and Mrs SARS sent 19/10/2006 settled £350
Welcome Finance PPI 2 accounts one settled £1018 waiting on other
GE Money PPI 1 account settled 8/5/2008 £560 2nd account SETTLED IN FULL £3,599.78p 15thAugust 2008
Lloyds TSB PPI CC complaint sent 10/04/2008
Black Horse PPI with FOS 20/05/2008
HFC PPI complaint sent 22/05/2008
Hello Adamski,
The PPI was added onto the loan with a total monthly payment under it with a total interest charge. We took this out in Febuary 2003. Not sure what you mean about a needs and demand statement. However in our complaint to the fos we have stated that we do not know how much our PPI payment is each month
Hello everybody,
My wife and I are new to the site and are now in the process of waiting for the fos to deal with our complaint about First Plus and PPI.
We are wondering if anyone else has gone down this route and if so with what success as this is new terratory for us and if we fail at this hurdle where do we go next.
If you need any info in particular that has got us to this stage we are happy to oblige
Hi ,
My wife & I are just starting out against FirstPlus any advice or direction will be appreciated.
Having asked for settlement figure and they are quoting in all the small prints that they are are entitled to charge the full interest charge on the loan (12 years of it ) plus they will hardly give any refund on the PPI premium of £8k .
Is my first course going to FOS as they ( Shylock's mentors) just quote the Consumer Credit regulations 2004 & Consumer Credit Act 1974
Just a little info that might help with time scale of your claim, I have just spoken to the fos ( looks like my complaint will also be going in their direction) and they are currently taking on claims made up to 8 May.
Hi Braveheart,
Our complaint went in just e few days after that date but we have had an aknowlegement letter with a foot note that they have had a lot of enquirey's. So I assume they will deal with ours in due course.
Hi littleton, i have just posted a thread about PPI and first plus and like yours the loan did state the payment amount you would pay for the ppi and then when you cancel it early its only reduced by a minimal amount...ours loan only being reduced by £24 when the ppi monthly repayment is £158...so how do they work that one out? I'm not sure i could prove that we were missold but i'll be interested in your case so i'll keep watching....good luck with the fos
First Plus and the FOS
to deal with our complaint about First Plus and PPI
Reply With Quote
Re: First Plus and the FOS
Originally Posted by littleton
