First National Motors PLC PPI

[dawney66]

Wondered if anyone could advise us we was sold ppi insurance when we purchased our vehicle as we was told we had to have the PPI to get finance, My husband 18 months later had a heart attack and could not work we tried to claim on the PPI and was told we couldnt claim as my husband was self employed !!!!!. This progressed to the vehicle being repossessed as we could not make the payments the vehicle was sold at auction with a shortfall of £7000 !!!! and a charge was placed on our property when we sold our house this money was then paid to them so all moneys owed has been settled, I know that I can claim the PPI back but surely some form of compensation should also be paid I would welcome any advise


Thanks in advance

[Caspar]

Re: First National Motors PLC PPI

Why did you sell your house? If you can prove that there is a direct link between the selling of your house and the mis-selling of the ppi, then you may well have a claim for compensation. There is also the element in this that you would not feel you needed to put money aside "for a rainy day" as you thought the ppi covered you.

There are people here who will be able to give you some suggestions on the way forward with this, but it may not be until Monday as the site goes quiet at the weekend - don't think you're being ignored!

[dawney66]

Re: First National Motors PLC PPI

Thank you for the reply we sold our house to pay off debt when my husband became ill but we wouldnt have had the 2 debts that we had if the ppi had paid out on the 2 loans that we had welcome finance was the other one they had both put charge on our house.

[Caspar]

Re: First National Motors PLC PPI

So were you forced into selling your house because of the charges against it, or did you voluntarily sell it in order to clear the debt?

[dawney66]

Re: First National Motors PLC PPI

We was not forced it was our choice we needed to reduce our outgoings
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We did have a lot of equity in our property until the debs were paid but they forced us into debt by leading us to believe we were covered in any eventuality and forced us into having the insurance

[Caspar]

Re: First National Motors PLC PPI

I feel for you as I've been in exactly the same position.

Trying to get things clear in my mind you mention two debts. One I assume was a debt to Welcome Finance for the vehicle which was later sold at auction with a £7000 shortfall?

What was the other debt?

Apologies if I'm being thick!

[dawney66]

Re: First National Motors PLC PPI

one was first national for the vehicle and second was personnal loan from welcome

[CleverClogs]

Re: First National Motors PLC PPI

one was first national for the vehicle and second was personnal loan from welcome

At least Welcome did not obtain a Shylock Order.

[dawney66]

Re: First National Motors PLC PPI

I have recieved a letter from santander who bought out first national motors plc the letter states that they did not sell me ppi insurance or was there any ppi insurance or can they find the ppi and that i need to go back to the dealer as it was third party insurance , I have spoke to the dealer today and he said it would definatley have been first national motors, the payments for the ppi was made to them along with the loan repayment, they also stated in there letter that this was their final response and to go to the ombudsman. I rang the FOS and they have said they cant help as first national motors was not regulated by them in 2000 this debt was not paid off until 2007 can anyone HELP !!!!!!

[di30]

Re: First National Motors PLC PPI

I have recieved a letter from santander who bought out first national motors plc the letter states that they did not sell me ppi insurance or was there any ppi insurance or can they find the ppi and that i need to go back to the dealer as it was third party insurance , I have spoke to the dealer today and he said it would definatley have been first national motors, the payments for the ppi was made to them along with the loan repayment, they also stated in there letter that this was their final response and to go to the ombudsman. I rang the FOS and they have said they cant help as first national motors was not regulated by them in 2000 this debt was not paid off until 2007 can anyone HELP !!!!!!

Hi there

That is correct that whoever sold you the account and ppi are the ones responsible, the other is just the bank who takes the payments.

I'm surprised the FOS did not mention the Underwriter/Insurer avenue, so what I would do is re-contact them on the customer free phone number and mention this.

For many in the same position the FOS have suggested this avenue as they would too also have some part liability on the insurance side of it and they would have been regulated (probably anyway) with being an insurer.

Call them again, and let us know what they say, we can take it from there, good luck.

http://www.financial-ombudsman.org.u...act/index.html