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Hi everyone

 

A couple of years ago I looked into trying to reclaim PPI that was brokered by Norton Finance as part of a secured loan

 

I took out in October 2004 to consolidate some debts.

I borrowed £ 40000 repayable over 25 years and the broker insisted I have the PPI

which was to cover loan repayments for accident, redundancy and sickness for the first 5 years of the term of the loan.

they added £ 9790 for the PPI.

 

 

In October 2006 I decided to remortgage and so the secured loan was repaid after just two years.

 

Now, when I enquired to First Plus about the mis-sold PPI,

they told me that I had to take up the matter with Nortom Finance.

 

 

However, by that time, the broker had stopped trading so went to the FCSC

and they said that no claims before 1st January 2005 could be considered.

 

 

However, my argument is that the PPI payment would have been paid by Firstplus to the broker and what is more to the fact,

I only have the loan for two years so only two years of premium were used

- I never was refunded the PPI premium as there were three years of cover still not used ?

 

 

Firstplus are using the same excuse as the FCSC but they are the ones who paid the premium

and they were the ones repaid in FULL when I redeemed the loan in October 2006.

 

I am sure they are just making excuses to not pay but fee that even if I cant make a claim fro mis-sold PPI,

I can atleast expect some of the PPI premium paid to be refunded as the original term was for 5 years

and I only had the loan for 2 years.

 

thanks - any advice would be great. I dont have statements anymore - just the account number, principal borrowed and PPI paid out in en email from FP.

 

Dean

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I would suspect the under writers were covered by GISC or ABI schemes.

 

 

sar time?

 

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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