Firstplus ppi

**pilla99** · 29th December 2008 16:38

Some advice needed. My husband stupidly arranged a consolidation loan over the telephone with firstplus in January 2007, for £52.000.

After getting into financial difficlulty and looking on these forums I decided to check if we were paying for PPI icon

. My husband does not remember being told anything about ppi and he did not have any copies of the paperwork.

I requested a copy of the loan agreement along with any details of insurance monthly payments and interest icon

charges applicable.

After receiving a copy of the loan agreement and a copy of the leter that was also sent it shows that ppi has been added for £12734.80. This is for a 5 year payment protection Policy.

The copy of the loan agreement was not very clear the key financial information part was all black so I have requested another copy from them, to which they said they did not have a clearer copy and would need to get a copy from their solicitors?? so I am waiting for that to come through. Also there is a box that has a preprinted x in it but can not read what that is for!

While I was waiting for firtsplus to send a copy of the loan agreement I decided to call them and ask what the monthly payment for the ppi is. He asked if this was because I wanted to cancel it and if so he would send me letter with some details on what the refund would be.

While I was waiting for this I sent them a letter for misselling me a policy as:

1. my husband does no recall being told anything about ppi and I did not speak to anyone at any time about any information.

2. A 5 yr policy it not very suitable for a 17 yr loan.

Then on the same day I recieved a letter from firstplus stating that as the loan and isurance was actually sold by one of their brokers (my husband thought he was dealing with them direct) that they were unable to investigate and have forwarded the details to Central Capital.

I have also recieved a letter from Firstplus stating if I want to cancel the insurance they are prepared to make a refund of £1807.51 in respect of the premium paid.

What is my next step do I wait for central capital to come back to me and ignore the letter from firstplus.

I also believe that the correct procedures were not checked when the policy was sold i.e proof of income and expenditure as if they had they would have seen that we would find it difficult to repay the loan.

Any advice is appreciated.

Similar Threads:

**pinknico** · 29th December 2008 18:00

Central Capital should get in touch ,though it may be Central Trust as they are now.
As this was 2007 they were regulated by the FSA so you will have the option to go to the fos icon

if Central disagree you have been mis sold.
Though I do know people have had successful claims againt Central.
Were you given Centrals details to check First plus did contact them?

Good Luck

**alanalana** · 30th December 2008 00:38

Hello Pilla,

S

ome advice needed. My husband stupidly arranged a consolidation loan over the telephone with firstplus in January 2007, for £52.000.

After getting into financial difficlulty and looking on these forums I decided to check if we were paying for PPI icon

. My husband does not remember being told anything about ppi and he did not have any copies of the paperwork.

I requested a copy of the loan agreement along with any details of insurance monthly payments and interest icon

charges applicable.

After receiving a copy of the loan agreement and a copy of the leter that was also sent it shows that ppi has been added for £12734.80. This is for a 5 year payment protection Policy.

The copy of the loan agreement was not very clear the key financial information part was all black so I have requested another copy from them, to which they said they did not have a clearer copy and would need to get a copy from their solicitors?? so I am waiting for that to come through. Also there is a box that has a preprinted x in it but can not read what that is for!

While I was waiting for firtsplus to send a copy of the loan agreement I decided to call them and ask what the monthly payment for the ppi is. He asked if this was because I wanted to cancel it and if so he would send me letter with some details on what the refund would be.

While I was waiting for this I sent them a letter for misselling me a policy as:

1. my husband does no recall being told anything about ppi and I did not speak to anyone at any time about any information.

2. A 5 yr policy it not very suitable for a 17 yr loan.

Then on the same day I recieved a letter from firstplus stating that as the loan and isurance was actually sold by one of their brokers (my husband thought he was dealing with them direct) that they were unable to investigate and have forwarded the details to Central Capital.

I have also recieved a letter from Firstplus stating if I want to cancel the insurance they are prepared to make a refund of £1807.51 in respect of the premium paid.

What is my next step do I wait for central capital to come back to me and ignore the letter from firstplus.

I also believe that the correct procedures were not checked when the policy was sold i.e proof of income and expenditure as if they had they would have seen that we would find it difficult to repay the loan.

Any advice is appreciated.

Bang in a complaint to the Financial Ombudsman Service (fos icon

) and give them all the details.......

Financial Ombudsman Service

all of the contact details are in the link above

aa

**Goldlady** · 30th December 2008 00:43

You should not accept their pathetic attempt at a refund. They need to refund the lot and adjust the remaining loan balance accordingly. The steps to this are on my thread here, but the first thing you need to do is send a SAR icon

to get proof that the PPI icon

was mis-sold.

http://www.consumeractiongroup.co.uk...i-reclaim.html

**Bog** · 30th December 2008 12:22

Originally Posted by Goldlady

You should not accept their pathetic attempt at a refund. They need to refund the lot and adjust the remaining loan balance accordingly. The steps to this are on my thread here, but the first thing you need to do is send a Subject access request icon

to get proof that the PPI icon

was mis-sold.

http://www.consumeractiongroup.co.uk...i-reclaim.html

I second what Goldlady say's! They have mis-sold PPI to thousands of people and they know it!

They will give in, as they don't want bring to much adverse publicity to their parent company 'Barclays icon

' - just be firm and stand your ground!

**pilla99** · 30th December 2008 14:08

Who do I send the Subject access request icon

to firstplus or central capital?
I have received a letter from central trust saying they are investigting and will respond within eight weeks.

Should I Send another letter to central trust detailing the amounts i want bAck?

thks x

**Bog** · 30th December 2008 15:16

I know it's an extra £10, but I would send it to both, then you may be able to see the paper trail and if it ever got to court you would have a much better understanding of who did/implied what (call recordings/transcripts etc.)

From what I understand, if it's central trust that sold you the loan/PPI icon

then they are responsible for the mis-selling and therefore would have to reimburse you.

**Goldlady** · 30th December 2008 20:45

Originally Posted by Bog

they don't want bring to much adverse publicity to their parent company 'Barclays icon

'

Well I didn't know that - how interesting

**Goldlady** · 30th December 2008 20:46

I agree with Bog on the SAR icon

's going to both as they will each have a record of all the discussions - hopefully!

Thread: Firstplus ppi

Thread Tools

Search Thread

Firstplus ppi

Re: Firstplus ppi

Re: Firstplus ppi

Re: Firstplus ppi

Re: Firstplus ppi

Re: Firstplus ppi

Re: Firstplus ppi

Re: Firstplus ppi

Re: Firstplus ppi