:grin: I have posted this on my thread but thought I would post here also for others who might miss it. After my third letter First Plus have caved in and offered me my full premium of £7836.80 plus interest. Keep going, persistance pays off! HF79 :grin: :grin: :grin:

Go for it! After my SAR and another request for them to look again and then my first two complaint letters, FP still claimed that they could not find the recordings of a call in which I was talked out of not taking the PPI. After the third they by some miracle 'found' it. So this point despite us claiming initially for a whole raft of reasons seems to have been the nail in the coffin. Such a weight off our shoulders to be finally rid of them. That said I still have to fight them to amend my credit report which they have messed up on.

Thank you thank you thank you!!!! After my third letter First Plus have caved in and offered me my full premium plus interest. Keep going, persistance pays off! HF79 :D

Thanks Goldlady. Much appreciated.

Thanks Goldlady, TBH I just feel so stupid that I could have been so blinkered into thinking they were doing me a favour and that the cash back offer was a win-win. I am just glad to be rid of them after refinancing for a much much lower apr cutting the loan down by 5 years. They have caused me no end of trouble and the cheeky bug**rs even tried to chase me for arrears after settlement, and have changed my credit file to reflect a late payment. That however, is another issue. I would really appreciate having a look at your spreadsheet if possible.

Thank you. I haven't calculated any of the interest yet. Do you have any tips for working out the 8% and the interest paid? I think the fact that they can't find this call may work in my favour as they can't disprove that it did not occur, and have already admitted they have 'found' other calls, whereas they had previously told me I had received them all. HF79

Hi all, I hope I am doing the right thing starting a new thread? Firstly, I really apologise for the long post but am after some good advice. Before I became more financially savvy I took out a secured loan with First Plus. Because of the cashback offer and without realising the implications of a single premium policy, I agreed to the PPI even though I didn’t really need or want it. I have refinanced the loan and settled with First Plus, but am trying to reclaim the PPI. I am claiming mainly on the basis of the following: Very little attempt was made to ascertain if the insurance was fit for purpose, suitable for our needs or if indeed if we really needed it at all. It was not made clear by the sales advisor that this was a Single Premium Policy and although only lasting for five years, we would be paying for it and interest on it throughout the lifetime of the loan at the loan APR, and furthermore we would need to take out further insurance at the end of the five year term. Following the initial application phase we decided that we did not want the PPI and phoned to ask for a loan agreement to be sent without the PPI added. The sales advisor was very pushy in selling us the policy at this stage so we felt that we could not say no. We were told that this PPI product was specifically tailored for the First Plus loan and that it was unlikely that we would get such sufficient cover from a third party insurance provider; implying that we would be at a disadvantage if we sought cheaper PPI elsewhere. Now the first letter I received back from them was a basic fob off letter, saying that they did not think there was a case and they could not find evidence of a call with the sales advisor discussing the last point. I re-wrote to them and they have found some further calls but can still not find the one in question. This is despite me asking for a full S.A.R - (Subject Access Request) and pointed out that they had not supplied all calls. The second letter has offered me some money but not the whole lot. My questions are: 1) Should I accept? 2) If not do I write to them again or go straight to FOS? 3) I did originally ask for the full premium (less the refund on settlement), interest and the statutory 8%, how do I work this out? I have entered all the figures hoping that someone might help me. Original Cash Loan: £32,000 PPI Loan: £7836.80 Total: £39,836.80 180 months from February 2006 @ 10.4% variable APR (obviously this has gone up and up) – PAID 21 months. Cancelled PPI Nov 2007: rebate of £1237.56 to loan (reduced payments by about £20) This was after initially asking to cancel it in March 2007. Settled Nov 2007: £37341.24 inc £150 admin fee Overpayment refund: £65 Now willing to offer rebate of £2531.94 on a pro-rata basis of 78% of the insurance premium, (22% being held back for the provision of claims and admin costs) Hope you can help. HF79

Thank you HF79

I am just about to send my LBA to Lloyds and want to get ahead of the game and have all information ready before 14 days have expired. I am trying to read the above PoC, but am told I don't have the correct privileges to access the link. Anyone have any ideas why? Thanks, HF79

Apologies for the long post but this is sounding very familiar and I hope you guys can help me out. I took out a loan with FP this time last year (desperation and naivity prevailed when I should have really just sorted out my budget and outgoings) and was lured into taking out the PPI with it. I was in two minds about the PPI but was persuaded/cajoled/slightly pressured into going ahead because of the cashback offer. I am trying to really sort my finances out now and am reassessing this situation. I have an excellent credit score and what I would like to do is get shot of FP by switching to a more reputable lender, ideally with a lower APR over a shorter term (not asking for much am I?) Anyway I have logged a call with FP to call me back as I want to know what the cash back deal actually means in principle, not much if I am reading your posts correct. I remember asking if the full premium would be returned after 5 years and I was assured this would be the case providing no claims had been made. So what does an amount equivalent mean? What are the interest charges and terms and conditions? If I settle do I not get anything back, not even the pitiful amounts illustrated in the policy - or will I just have to write the whole amount off and put it down to bad experience if I change lenders? Also if I move house or change the terms of my loan does invalidate the cashback? Do you think I have cause to complain or a misselling case? "Even better, FIRSTPLUS will pay you an amount equivalent to your insurance premium back if you haven't made a successful claim, been in arrears, settled or changed your loan after five years (less interest charges, subject to terms and conditions). " Again sorry for all the questions, but would really like to know where I should start with this. HF