Advice needed on First Plus PPI

[boolee]

Hi all!! I'm new to the consumer action group forum.

It's all fascinating stuff!

 

I Hope someone on here can help me out or give me some advice. we recently made a claim against First Plus for a mis-sold PPI.

 

We used the company ''PPI Rebate'' to make the claim on our behalf and were successful in being made an offer of just under £3000. Although First plus denying miss-selling anything!

 

The trouble is, ''PPI Rebate' has now ceased trading, they say due to the current financial climate.

 

I was still expecting a cheque from First Plus but did not recieve any, To cut a long story short, They say that they won't be sending a cheque but the money will be taken off the remaining balance of the loan.

 

Is there any way i can make them pay the claim back to me as cash and not as a payment off the loan ?

[alanalana]

Hi all!! I'm new to the consumer action group forum.

It's all fascinating stuff!

 

I Hope someone on here can help me out or give me some advice. we recently made a claim against First Plus for a mis-sold PPI.

 

We used the company ''PPI Rebate'' to make the claim on our behalf and were successful in being made an offer of just under £3000. Although First plus denying miss-selling anything!

 

The trouble is, ''PPI Rebate' has now ceased trading, they say due to the current financial climate.

 

I was still expecting a cheque from First Plus but did not recieve any, To cut a long story short, They say that they won't be sending a cheque but the money will be taken off the remaining balance of the loan.

 

Is there any way i can make them pay the claim back to me as cash and not as a payment off the loan ?

 

You can ask for the rebate to be paid directly to you by a personal cheque but IMO first plus are not obliged to do this if you have remaining debt outstanding and they can deduct the rebate from any outstanding balance.

 

Previous advice was that you can ask for the PPI as mis-sold to be paid directly to yourself. IMO if you wish repayment to yourself by personal cheque then ask for it and say if they disagree you will make complaints to the OFT and FSA about the way they are dealing with you mis-selling complaint.

 

aa

[pompeyfaith]

Too many banks and other financial companies are using this tactic, but they fail to remember had you not been mis-sold it in the first place the money would of been in your pocket and not there anyway

 

Also in effect they are saying that they would not of sold you the loan without the insurance this i believe is against OFT guidelines.

 

Just my 2 pence worth.

 

Regards

 

PF

[boolee]

Thanks for your replies guys! I have decided to pursue the matter further with the FOS .