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First plus ppi, was i mis-sold? **Yes I was and I WON**
Sorry about this, bet your sick of seeing this title....
but here goes anyways...
In April 2006 i took out a loan amount of £84,000 to do urgent repairs and sparkle up our house and consolidate 2 loans, They offered a PPI which added £20,571.60 to the loan, which they said would be paid back to me in full, (which is rubbish, what about the interest), after five years, which he played on to make it sound good, By the way it worked, what he failed to tell me was this policy was inappropriate for my needs as both my wife and i got paid in full when off sick 52 weeks of the year,which by the way we did tell him, i think therefore this policy was mis-sold and would have been better off going for an cheaper( which surely i should have been advised, but didn't know i could) unemployment only policy elsewhere.
My problem is, experts out there, have i got enough to cry mis-sold??, just because i didn't know you could get a better policy elsewhere ...plus you will have noticed the old English grammar is poo....so cant find a template to fill in, thats if i have enough to cry mis-sold..
re: First plus ppi, was i mis-sold? **Yes I was and I WON**
Originally Posted by davidg007
Sorry about this, bet your sick of seeing this title....
but here goes anyways...
In April 2006 i took out a loan amount of £84,000 to do urgent repairs and sparkle up our house and consolidate 2 loans, They offered a PPI which added £20,571.60 to the loan, which they said would be paid back to me in full, (which is rubbish, what about the interest), after five years, which he played on to make it sound good, By the way it worked, what he failed to tell me was this policy was inappropriate for my needs as both my wife and i got paid in full when off sick 52 weeks of the year,which by the way we did tell him, i think therefore this policy was mis-sold and would have been better off going for an cheaper( which surely i should have been advised, but didn't know i could) unemployment only policy elsewhere.
My problem is, experts out there, have i got enough to cry mis-sold??, just because i didn't know you could get a better policy elsewhere ...plus you will have noticed the old English grammar is poo....so cant find a template to fill in, thats if i have enough to cry mis-sold..
Many Thanks if you can help....davidg007
This sounds like you were mis sold and you need to write to them with the following reasons: already had cover (that in it its self is enough!) only covered 5 years and paying for it for full length of loan.
Will find template for you!
re: First plus ppi, was i mis-sold? **Yes I was and I WON**
Originally Posted by pinknico
This sounds like you were mis sold and you need to write to them with the following reasons: already had cover (that in it its self is enough!) only covered 5 years and paying for it for full length of loan.
Will find template for you!
Many thanks pinknico for your time,
I'm so confused about this mis-selling?? so tell me, even though i've signed agreement, i can still file for miss-sell? friend put me onto this site the other day, and cant believe how many people got sucked into this rip-off, me myself, took it out because I thought if I didn't, they wouldn't give me the loan, and with windows,floor structs, roof..(OLD HOUSE) etc...etc.. in desperate repair, you say yes to anything, and when you sit back, and add up what you are paying, you say to yourself OMG...what am i paying, for something thats no good, except unemployment.....Can they not throw that in my face??
Many thanks again, will take look at templates you mention and Happy New Year.....
re: First plus ppi, was i mis-sold? **Yes I was and I WON**
Just because you have signed the agreement does not mean you cannot claim for mis selling.
You already had cover(send proof of this with your letter if you can) it doesnt matter that the policy covered other things, this was not sold in your best interest. A case that went to the fos was upheld on the fact the policy didnt cover the term of the loan alone so there is hope.
Send them a letter for mis claiming recorded delivery so they cant say they didnt get it!
And we will go from there.
Happy New year to you to.
re: First plus ppi, was i mis-sold? **Yes I was and I WON**
Originally Posted by pinknico
Just because you have signed the agreement does not mean you cannot claim for mis selling.
You already had cover(send proof of this with your letter if you can) it doesnt matter that the policy covered other things, this was not sold in your best interest. A case that went to the fos was upheld on the fact the policy didnt cover the term of the loan alone so there is hope.
Send them a letter for mis claiming recorded delivery so they cant say they didnt get it!
And we will go from there.
Happy New year to you to.
Hi pinknico
What alot of mis-sold souls there are, well i dont feel alone anymore, lots of people made silly mistakes like me in desperation, well, what do they say, we live and learn.... Well back to the point, i've drafted a letter up, from bits and bats of letters off the many posters on here. which is as follows........
To whom it may concern.
Your Payment Protection Insurance policy which was attached to our £84,000 secured loan, Account No.XXXXXXX which we took out with you over the telephone in April 2006 ,The premium of £20,571.60 for the Payment Protection Insurance policy was added to the loan amount.We are now convinced that we were mis-sold this Payment Protection Insurance policy for the following reasons
1. We were not told the Payment Protection Insurance could be paid monthly.
2 When the details of the loan were discussed, your sales advisor checked our personal circumstances and failed to advise us that this policy was inappropriate for our needs at the time of the sale, because both my wife and myself received full wages for 52 weeks of the year, longer if needed when off work ill, which they are under obligation to do when underwriting a Policy of Insurance. If they had done so, they would have realised that the Payment Protection Insurance policy was useless to us. At no time was any attempt made to ascertain if the product provided was fit for purpose, suitable for our needs or if indeed it was required at all.
3. We were not told we could buy Payment Protection Insurance elsewhere if we wish for this loan
We now believe that the single premium Payment Protection Insurance policy attached to the loan account was extremely unfair, totally unreasonable and of very limited protection value , we are therefore requesting a full refund of all costs including all single Payment Protection Insurance premiums that have been paid, the interest added to these premiums and the payments which we have paid to date.
Furthermore, as we believe we have been deprived of this money we also expect 8% statutory interest, the amount a court would award, to be added.
We look forward to a full and prompt response to this letter and for the matter to be concluded within eight weeks or we shall be contacting the Financial Ombudsman ((Or the courts if necessary) to investigate my complaint.
signature................ ................
Mr. X XXXXXXXXX
Signature................ .................
Mrs. X XXXXXXXXX
Feel free to edit my grammar.....god theres some good advice on here, half that jargon i wouldn't have known about....remind me to contribute when i get money back...
And just checked back through my paperwork, and found Demands and Needs form, and dont know how to fit in my letter to them, because last couple of questions i said no, and i said no because i didnt need any more policys because wife worked too, but they still recommended it?? Form says:
Futher to your application for a firstplus loan, we asked you a series of questions to determine your insurance needs and. therefore, how you would benefit from our payment protection plan.You gave the following anwers to the questions asked:
Q. What is your current Employment status
A. Full time employed
Q.Would your current employment provide sufficient income to repay your borrowing in the event that you are unable to work through accident or sickness
A. Yes
Q. For how many weeks would your current employment provide sufficient income to repay your borrowings int he event that you are unable to work through accident or sickness
A. 52 weeks
Now the tricky ones, which i didn't fully understand at the time..
Q. Do you have any other financial arrangements that would provide sufficient income to repay your borrowing in the event that you were unable to work through accident or sickness.
A. No
But i wouldn't need any because i would be paid in full
Q. Have you made provision through other relevent insurance products for repaying this borrowings in the event of
A: Unemployment? No
B: Sickness? No
C: Accident No
D: Death NO
E: Death In Service No
Based on your answers we have advised the following:
I can recommend, that in the event of loss of income, payment protection could assist you with repaying you borrowing....
What do you think,?? Have i still got a leg to stand on?? Many thanks Again davidg007
re: First plus ppi, was i mis-sold? **Yes I was and I WON**
Yes you still have a leg to stand on. You told them you were covered and also how, the question you replied no to is true because you have already answered yes and dont have any other cover apart from what you already mentioned and did not need further cover.
re: First plus ppi, was i mis-sold? **Yes I was and I WON**
Originally Posted by pinknico
Yes you still have a leg to stand on. You told them you were covered and also how, the question you replied no to is true because you have already answered yes and dont have any other cover apart from what you already mentioned and did not need further cover.
Dont forget to send recorded delivery.
Hi pinknico..
Hope you had a great New Year,
Thanx for the info, got one of lasses in our office to check my grammar, after laughing and calling me common...lol she tidied up, changed.. thats.. with.. which...and my...with ours....etc ..etc...lol..the letter has been sent this morning at 9.30..(And sent recorded like you said)
But scratching my head again, after reading more and more posts on here, have i done it in the right order? should i have sent for a Subject access request thingy? or does it not matter! there is such alot to take in, i get a feeling, looking at others, iv'e got a fight on my hands....
re: First plus ppi, was i mis-sold? **Yes I was and I WON**
You can send for a SAR if you dont think you have the documents you need but you seem to have a enough to start with, its up to you. There is nothing wrong with making a complaint before or without an SAR.
First Plus has been a fight for some, easy for others. Because of the date you took out the loan you are covered by the fos if First Plus say you have not been mis sold so we have options!
re: First plus ppi, was i mis-sold? **Yes I was and I WON**
got my first fob/delay off letter this morning...
Dear Mr & Mrs xxxxxxxxx
I am sorry you have had to contact us about yours concerns regarding your payment Protection Insurance Policy. Thank You for taking the time and trouble to do so.
I am looking into your concerns and will let you have a response or update as quickly as i can but no later than 30 january 2009. In the meantime if you need to speak to me please call on 029205. I have enclosed a leaflet explaining how firstplus works resolve complaints. I hope you find this helpful.
Short and sweet..but text book,looking at other threads, anyone who's had this letter, gets a fob off altogether letter shortly after, looks like these vultures who prayed on the desperate, are going to keep my well earned money too..
re: First plus ppi, was i mis-sold? **Yes I was and I WON**
I think you will win this even though this may have to go to the fos. You didnt need the PPI and even though they knew you had cover they put it on anyway!!
re: First plus ppi, was i mis-sold? **Yes I was and I WON**
I got the same reply as you but they said they will reply by 18/12/08 then on 23/12/08 they said they were still investigating my complaint and were trying to locate the disc containing the telephone conversations at the time of sale they will let me have a full response by 23/1/09.
Good luck.
re: First plus ppi, was i mis-sold? **Yes I was and I WON**
Hi pinknico,
i signed the agreement, they didn't just put it on, you worry if they dont, then they will turn you down for the loan, its only now that you think, oh my god what was i thinking, the cover is totally useless, theres only the death part that would be any good..
Hi Varda,
Have seen your threads, you are getting fobbed off alot too, good luck as well....
re: First plus ppi, was i mis-sold? **Yes I was and I WON**
Originally Posted by varda
I got the same reply as you but they said they will reply by 18/12/08 then on 23/12/08 they said they were still investigating my complaint and were trying to locate the disc containing the telephone conversations at the time of sale they will let me have a full response by 23/1/09.
Good luck.
Just a little point varda, they say in their leaflet you should be sorted with a final response within 4 weeks, so maybe its good news for you, they say they are having problems downloading your cds, but i bet theres a problem with something said by the highwaymen selling you the loan and they are trying to find a legal loophole to get out of it.... lets hope its that and get a result....good luck again
re: First plus ppi, was i mis-sold? **Yes I was and I WON**
I hope you are right.
Incidentally I received a copy of the CD with my SAR'S correspondence so maybe they sent me the only copy. One of my main points was that they went through the most of the relevant points with me but just skimmed over them with my husband (joint loan). They then covered me for everything even though I have sufficient cover with my employer which they knew. My husband has no cover with his employer but they only covered him for life. I really can't see how they can worm thier way out of that one. Fingers crossed.
Cheers
Vikki
re: First plus ppi, was i mis-sold? **Yes I was and I WON**
Originally Posted by varda
I hope you are right.
Incidentally I received a copy of the CD with my Subject access request'S correspondence so maybe they sent me the only copy. One of my main points was that they went through the most of the relevant points with me but just skimmed over them with my husband (joint loan). They then covered me for everything even though I have sufficient cover with my employer which they knew. My husband has no cover with his employer but they only covered him for life. I really can't see how they can worm thier way out of that one. Fingers crossed.
Cheers
Vikki
Hi vikki
Did you gets a demands and needs form???, on mine it says :-Based on your answers we have advised the following:
I can recommend, that in the event of loss of income, payment protection could assist you with repaying your borrowing....
even though all answers say i'm covered sickness etc.., i'm hoping this is mis-selling advice, :-| but the use of word could doesnt help....
First plus ppi, was i mis-sold? **Yes I was and I WON**
to do urgent repairs and sparkle up our house and consolidate 2 loans, They offered a PPI
which added £20,571.60 to the loan, which they said would be paid back to me in full, (which is rubbish, what about the interest
Reply With Quote
Originally Posted by davidg007
, well i dont feel alone anymore, lots of people made silly mistakes like me in desperation, well, what do they say, we live and learn.... Well back to the point, i've drafted a letter up, from bits and bats of letters off the many posters on here. which is as follows........