Thread: FirstPlus PPI

Could somebody give me some guidance.

I sent a letter to FirstPlus in November detailing that I thought the PPI policy on our loan had been missold.
I have now received a letter back stating that there was no mis selling on their part. On reading the letter it seems to be a standard reply that could have been sent to anybody.

What do I do next.

I've not requested a SAR as I have most of their correspondance the only thing I do not have is the initial phone call with them - I applied on-line for the loan then a follow up phone call.
Would it be worth getting a SAR or just sending a reply to them. Not sure what to put in the reply but i'm not being fobbed off by them with a standard letter.

Kaz

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For the mis selling I would say that we weren't told we would be paying for the PPI over the full term of the loan - the loan was for 25 years, we were told of the wonderful refund after 5 years no mention of any exceptions to not getting this refund, it's a joint loan but only one of us is fully covered.
We took out the loan in 2007.

It's just their first response, I have 8 weeks to reply then they will close the complaint.

I wrote to FirstPlus saying that I do not agree with their findings.

I've just had a response from them saying that although they still believe that the policy was sold correctly they have offered me an extra "rebate" of just over £3500. I've already received approx £1600 when I cancelled the policy. If I accept this the money will go off the arrears. We currently have around £4500 of arrears, the arrears are being paid of at £50 a month (court ruling).

They have not mentioned anything about any interest being removed from the loan account. We started the loan in March 07 and the settlement figure we recently got was £13000 more than the original loan.

Could somebody give me some advice.
Do I accept the offer they have give and reduce the arreas or take it to the fos - they have now given me the option of doing this as this letter is their final response to the complaint.

Ideally I would like the money in my hand and the loan brought to the stage that I never took out the PPI in the first place.

K

Sounds like the same response I had they would not admit liability but offered me a 78% settlement. I have wrote on 27/2/09 to say they have not answered all the points in my letter. They said this was thier Full and final reponse but I said it was most certainly not and again requested a full refund. Now I wait. If no luck it's the fos for me.
Good luck.

Think I will just go straight to the fos now. I've thought about what FirstPlus have said and I'm still not happy with them.
This recent "rebate" will go off the arrears we have. Why the change of decision on that. When we first asked to cancel the PPI around a year ago the rebate we would have got was more than the arrears we had but it was not possible to offset it against the arrears it had to go off the capital of the loan. If they had offset the arrears we could have reduced the monthly payments and we wouldn't have had all the stress of going to court with them trying to get repossession.

Feel like I should add compensation for all the stress they have caused myself and my husband

K

Hi,

I am trying to get PPI back from F+ too. I was of the impression that if they have mis sold you the PPI then you would get what ever you had paid to them for PPI back to yourself as it is money that you have paid on an "illegal" loan. I have had back the came letter saying that they do not consider the PPI to have been mis sold. I'm not sure that they can take what you have paid and offset it against arrears??

I about to complete the fos form this weekend but I'm not sure about what to do with the FirstPlus offer

Do I take the "extra" refund - It would reduce the arrears
or Decline the refund and take it to the FOS.

Can I do both ?. Take the refund but also complain to the FOS anyway.

Can anybody give me some guidance and how best to word the letter to FP
Ideally I would like back what I have paid and for the loan to be in the situation as if I never took the PPI in the first place. What are the chances of that happening ?

K

That's exactly what I'm hoping for too. I'm one stage behind you - have a look at my thread. I'm not sure that they can just apply the refund to the arrears though - surely it must be treated as money that you have paid to them on false pretences.

I've sent my complaint to the fos today

I've also replied to FirstPlus saying I am not happy with their response / actions and included a copy of the FOS complaint.
I've accepted the "extra" rebate offset against the arrears but I've also asked them to put the original rebate against the arrears - Clearing all arrears with a bit over to go against the capital.

I've also asked for the loan to be put in the state as if no PPI was ever on it so hopefully reducing my monthly payments

Will let you know how I get on

K

They sent me an offer of a gesture of goodwill but without admitting any liability - just over £3000 in total. However the impression I got was that if i accepted this offer that would be final settlement on the complaint and I would not be able to take it any further - effectively the case would be closed. If I could take the gesture of goodwill and also go to the fos I would.

I contacted the fos on 10th of March and they were most helpful when I explained my case. They said they are very busy at present but they have already acknowledged my claim. Shame Firstplus aren't as efficient. The person I spoke to at the FOS said they hope to have a conclusion within 3 to 6 months. Do you think I should send a copy of their acknowledgement to Firstplus to let them see I have not just gone away and I am taking it further?

I have received a letter back from FirstPlus - not bad seeing as I only sent mine on 31st.

Not sure who is correct but they have said I cannot accept the extra rebate as a Full & Final Settlement and also go to the fos.

Can somebody advise on this ?

It may be their final answer on the subject but it's not mine as I have quite a few grudges against them not just the extra rebate, I've not been happy with their service for over a year.

They will not put the earlier refund against the arrears as this came from Barclays as a refund against PPI and it should go against the capital the extra rebate was a gesture of goodwill from FirstPlus so can go against the arrears.

I asked them to put my account back to a state of no PPI but they have not even replied to this request.

Any suggestions about what to do next ?

K

My letter from them implied that I could not accept the gesture of "goodwill" and continue with the claim with the fos. Don't know what the FOS would say about this thiugh - I am planning on speaking to them tomorrow to register my complaint with them and take things further from there. Their argument will be that they have resolved the issue and that there is now no problem

I wrote to the fos with my complaint at the end of March.
Just got a letter from them saying the complaint is upheld and £500 comp.
Recommended FirstPlus to put the loan back to as if no PPI was added at no extra cost to ourselves

K