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After waiting for over 18 months, I found out today that my PPI Claim against First Plus has been rejected. The reason given was that "Bright Finance" who brokered the loan are now ceasing to trade.
My questions are now the following :
(1) If Bright Finance are ceasing to trade, then WHERE is the money i'm paying every month going and to whom ?
(2) If Bright Finance are just the brokers, surely First Plus(Barclays) are the lenders and therefore the ones responsible for taking PPI Payments
(3) According to the credit agreement, the PPI payments are refundable after 5 years. It will be 5 years on April 2010. If its part of the Credit Agreement, then surely First plus need to pay it back by LAW, but how CAN they if they don't have the money ?
Who made this decision please?
I am sure that this is a flawed decsion but you need to give us proper details.
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Who made this decision please?
I am sure that this is a flawed decsion but you need to give us proper details.
Claim was filed with Portal Claims in July 2008
Initial Claim was rejected earlier this year and passed to FSO
FSO dealt with claim until today...
...letter arrived today from Portal Claims with a HUGE A4 legal document about Bright Finance's assets and liquidation.
Secure loan was foe £30,000 over 15 years, but was told PPI was needed and had no choice etc etc etc.
Take it up with First Plus if the broker has folded they are responsible Sadly too many wrong decisions are coming out of the fos and a piece of toilet paper holds more weight.
Who is the FSO? Do you mean the Ombudsman? Who is Portal Claims? Is this a claims management company? If so, how much did they charge you?
If it is the Ombudsman, then what do they say? have they accepted that the PPI was missold? When did Bright Finance go into liquidation? When did you start your claim?
And yes, who is receiving the money now?
Who has the claim file now? Have all of the papers been handed over to you?
If you can show that the PPI really was missold - or else, if the fos has agreed that it was then the money has been paid over by way of a mistake and it seems to me that whoever has received the money would be the person to have to hand it back. If Bright Finance are just brokers then they have not received the money - and in fact the PPI contract would not have been with them anyway so I don't really understan why the claim has been made against them. Who advised you to claim against them?
How much money are we talking about here anyway?
Please don't pm me about specific questions unless you have posted and it has not been dealt with or unless the matter is confidential. Please include a link to the post you want me to look at. If you have received a defence, contact me.
Advice & opinions of BankFodder, The Consumer Action Group and The Bank Action Group are offered informally, without prejudice & without liability. Use your own judgment. Seek advice of a qualified insured professional if you have any doubts.
Follow the link here:- fos - to find out the truth about them
Please don't pm me about specific questions unless you have posted and it has not been dealt with or unless the matter is confidential. Please include a link to the post you want me to look at. If you have received a defence, contact me.
Advice & opinions of BankFodder, The Consumer Action Group and The Bank Action Group are offered informally, without prejudice & without liability. Use your own judgment. Seek advice of a qualified insured professional if you have any doubts.
If so, how much did they charge you? NO WIN,NO FEE
If it is the Ombudsman, then what do they say?Nothing with this letter
have they accepted that the PPI was missold? Will Call them tomorrow
When did Bright Finance go into liquidation? 10th November 09
When did you start your claim? July 2008
And yes, who is receiving the money now? First plus ?(They keep raising the interest rate)
Who has the claim file now? Portal Claims
Have all of the papers been handed over to you? All the papers about Bright Finance liquidation
If you can show that the PPI really was missold - or else, if the fos has agreed that it was then the money has been paid over by way of a mistake and it seems to me that whoever has received the money would be the person to have to hand it back. Thats why I chose Portal Claims, THEY were supposed to do the hard graft. All they said was :
"I can confirm that following a case review, I am sorry to have to inform you that we have decided not to take your case any further, due the the following"
We have recieved the enclosed letter from thr P&A Partnetship confirming that Bright Finance Ltd are no longer trading
I confirm we are therefore unable to take your case any further and have closed your file.
I trust you find all is in order
If Bright Finance are just brokers then they have not received the money - and in fact the PPI contract would not have been with them anyway so I don't really understan why the claim has been made against them. Who advised you to claim against them? My thinking as well
£7000 in PPI money. Did PC actually put the claim into the fos?
FirstPLus are receiving the PPI money. Then your claim is against them. What evidence do you have that you were missold the PPI. Meaning what evidence is there to support your version of events?
Please don't pm me about specific questions unless you have posted and it has not been dealt with or unless the matter is confidential. Please include a link to the post you want me to look at. If you have received a defence, contact me.
Advice & opinions of BankFodder, The Consumer Action Group and The Bank Action Group are offered informally, without prejudice & without liability. Use your own judgment. Seek advice of a qualified insured professional if you have any doubts.
And incidentally, do I gather that you are still paying the PPI premiums?
Please don't pm me about specific questions unless you have posted and it has not been dealt with or unless the matter is confidential. Please include a link to the post you want me to look at. If you have received a defence, contact me.
Advice & opinions of BankFodder, The Consumer Action Group and The Bank Action Group are offered informally, without prejudice & without liability. Use your own judgment. Seek advice of a qualified insured professional if you have any doubts.
£7000 in PPI money. Did PC actually put the claim into the fos?
FirstPLus are receiving the PPI money. Then your claim is against them. What evidence do you have that you were missold the PPI. Meaning what evidence is there to support your version of events?
(1) Told me it was compulsory due to loan term
(2) Never told me it could be provided by 3rd party
(3) Never told me that it only provided cover for 1st 5 years, but cost would be spread over ENTIRE loan term
(4) Never asked if I had Life Insurance or redundancy cover.
Please don't pm me about specific questions unless you have posted and it has not been dealt with or unless the matter is confidential. Please include a link to the post you want me to look at. If you have received a defence, contact me.
Advice & opinions of BankFodder, The Consumer Action Group and The Bank Action Group are offered informally, without prejudice & without liability. Use your own judgment. Seek advice of a qualified insured professional if you have any doubts.
Please don't pm me about specific questions unless you have posted and it has not been dealt with or unless the matter is confidential. Please include a link to the post you want me to look at. If you have received a defence, contact me.
Advice & opinions of BankFodder, The Consumer Action Group and The Bank Action Group are offered informally, without prejudice & without liability. Use your own judgment. Seek advice of a qualified insured professional if you have any doubts.
Who Underwrites The Insurance
Who Does The Addmin
We Need To Get The Statement Of Price To Find Out how Much This Insurance Is Realy Costing Over The Term Of The Loan
And Not Forgetting,
Getting Hold Of The Needs And Demands Statement And Any Underwriting Sheets
I think that you need to get hold of the file from PC - if they will let you have it. If there is any difficulty, send them an SAR. It is amzing that it has taken so long and I think that you need to know when the fos were involved. It maybe that had there been no dealy that the company might still have been around to pay the award.
Secondly I think that PC went for the wrong people. I think that you will need to begin again against FP.
Furthermore I think that you should stop paying the PPI money. If the PPI is integrated with the loan then you need to write to FP and tell them that they had better separate it. In fact, it might be an idea to write to FP and tell them to apply the premiums to the loan. That would bring it down dramatically.
Whatever, it is going to be a mess. You seem to have taken out PPI with a third party, and got claims help from a third pary.
All this does is to divide responsibility and liablity and everyone becomes a moving target.
I suppose that you need to find out all information. Send SAR to PC and also to the FOS to get all the info you can about your case.
I woudl suggest telling PC that if they don't let you have your file quickly that you will talk to the MOJ about the way your case has been handled and that you feel that there was a delay and that also they went for the wrong target.
You need to start a complaint to the FOS about the PPI but I can foresee that they may say that as there was no relationship with FP that they won't get involved. I think that this is flawed but we will have to see if I am right.
I really don't understand why you asked a claims company to help you make a complaint to the FOS. This is completely unnecessary. The FOS would be doing the claims company for them and you would have to pay. It's nonsense. I wonder if this is often happening
Please don't pm me about specific questions unless you have posted and it has not been dealt with or unless the matter is confidential. Please include a link to the post you want me to look at. If you have received a defence, contact me.
Advice & opinions of BankFodder, The Consumer Action Group and The Bank Action Group are offered informally, without prejudice & without liability. Use your own judgment. Seek advice of a qualified insured professional if you have any doubts.
Additionally, I think that FP's attiftude to you wanting to discontinue the PPI will be very interesting. If they resist at all then I think that this would be good evidence of the whole misselling. However you woud be unliukley to get this in writing.
The best thing would be to get a call recorder and then to speak with them on the phone and get their unguarded responses. If you got the right kind of evidence then you might be able to avoid the fos and go straight through to the courts.
I have to say that this is all very complicated because the involvement of these third parties. However, I am sure that FP are the right people to go for. I take it that they are the insurers?
Please don't pm me about specific questions unless you have posted and it has not been dealt with or unless the matter is confidential. Please include a link to the post you want me to look at. If you have received a defence, contact me.
Advice & opinions of BankFodder, The Consumer Action Group and The Bank Action Group are offered informally, without prejudice & without liability. Use your own judgment. Seek advice of a qualified insured professional if you have any doubts.
PPI Claim rejected :-(
Claim against First Plus has been rejected. The reason given was that "Bright Finance" who brokered the loan are now ceasing to trade.
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Originally Posted by BankFodder
