First plus PPI reclaim help - please

[Dr C]

Hi,

 

Newbie poster here and been reading much of the good advice that people have offered and would like to post my details and see if anyone can help with some wisdom so that I can proceed with my claim against FP.

I recently sent off letter and cheque for my Subject Access Request and have now received back today and although most of the paperwork are just sceen prints from computers showing how my interest rates increase, I also received a cd with telephone calls on it.

My loan is a joint one with my wife and was for £54k, with c£13k PPI which would be paid to me after 5 years. The loan breakdown would be £456 loan and £111 PPI over 240 months. This started in Sept 06.

I did have a previous loan with them with PPI that was about 1.5 years old for c£32k over 10 years which was paid off with the new loan but they haven't sent that information through to me at all even though I requested all details they held about me.

Anyway - hope that's enough background and not to waffly.

 

I'm looking to claim the PPI back due to the following:

 

1. I stated I had comprehensive cover through my work for sickness and redundancy but this was just glossed over/ignored.
   
2. Stated I had seperate life cover in addition to my mortgage cover.
   
3. I was never asked about any pre medical conditions.
   
4. No mention the premiums were over 20 years and not the 5, I was told that I would receive a full refund of the PPi after 5 years (c£13k) but didn't mention about the interest they'd charge. ( I calculate it to be another c£13k!)
   
5. I wasn't told on the phone that the insurance stops after 5 years she just states it's for an initial 5 years, several times.
   
6. I was not told I could purchase insurance elsewhere.
   

I think that's it really, it was all completed at 100 mile an hour but do I have a case? I do have a couple of further questions if you feel I should now write to them stating the above points, any enhancements/advice appreciated.

 

• How much should I be looking to reclaim, is it for the PPI already paid, eg. 27 mnths x £111 = £2997 (I appreciate my PPI payments have increased due to my APR being at over 10% now so willhave to calculate carefully)
  
• Add interest to this figure as additional at 8%?
  
• Ask for all future payments to be cancelled and offset against the loan or should I be asking for this back as a cheque as well, this would then see my future monthly payments drop?
  
• The lady on the phone keeps saying 8.4% APR, the documents receive call it AIR, what is the difference?
  
• First payment was Nov, then jumped to 8.9% straight away then increases all the way apart from 1 slight decrease in 2008. Can this be right?
  

That's all for now, sorry to go on so much with so many questions but I want to get this right, should I consider hanging it out for 2 years to get a £13k payout?

 

Thanks

 

Dr C.

[astral]

Please take a look at Complaints against Barclays Firstplus

[incipience]

DR C,

 

Hi and welcome..

 

First thing you have to do is send a subject access request to Firstplus, templates can be found on this forum.

 

Once you have your SAR, which should include copies of telephone calls, you will be in a better position to address these issues above.

 

From a legal stance you do have a claim, however dont go off half cocked like so many before you by sending in complaints to Firstplus before you have all the details.

 

Know that you are not alone in this. Firstplus days are numbered.

 

Can I ask was this loan arranged via a broker or was it directly with firstplus?

 

I assume by your dates, you took out the loan in 2005-06, this will help you as the FSA regulations came into force.

 

Best of Luck.

[Dr C]

Thanks Incipience,

 

I have received my subject access request information and believe that it backs up the points that I claim for miss-sell.

 

It was arranged in Sept 06 and directly with First plus and not through any brokers, does this make a difference?

 

I can draft a suggested letter and post on here before sending if people woild be willing to review for me.

 

Thanks

 

Dr C.

[varda]

I wonder if any of us Firstplus reclaimers had the same salesman and if this has made any difference. I had had my first FOB off letter from them this week.

[incipience]

DR C, dont post anything in public. I myself am a forum operator on the another site, and I can tell you that everyday we have Firstplus trawling the Forums.

 

What use would your case be if they know about it before you even send the letter.

 

I would caution all members here to take care when posting information, you just dont know who will be reading it.

 

Think about it, would you send an email to firstplus giving them a preview of your complaint before sending it?

 

Furthermore what with everyone sending the same or similar content in their letters firstplus know exactly what wins and what gets refused.

 

This is all intelligence gathering for them and forms part of theirs and many other companies risk management.

[Dr C]

Makes excellent sense - Thank you.