First Plus Keeping PPI Refund

[akania]

OK im not surprised this has happened however im not sure that what this company are doing is legal and after being given the runaround by First Plus the FSO and te FSA so I have come to you wonderful people

Ok back in 2007 I took out a secured loan from First Plus. Bad idea but was in an equally bad place at the time. I then took another and another subsequently leaving me in negative equity. Eventually I had to give the keys back to the mortgage company and went bankrupt, lost my home the lot.

So back to my PPI claim. on the first plus loan they had lumped 14k's worth of PPi on my loan. After a couple of months I noticed this and asked for them to cancel it which they did but didnt refund me the money I had paid.

I then put in a PPI claim this year. They wrote to me saying it would be upheld and i would receive 2 seperate cheques one for the interest and one for the actual PPI i had paid. I have only received the interest cheque so called first plus and they said that they are not paying it to me as the are 'redressing it' i guess off setting it on the outstanding amount.

I have also reveived after my bankruptcy letters from debt collectors chasing this debt which even though wrong is not unusual.

My questions on this are:

Are they allowed to do this?

Does the debt still exsist after bankruptcy?

Why have they kept a bankrupt account open after all these years?

They have admitted that they owed me the money, and are now keeping the money and have shut my complaint?

Didnt they obtain the money under false pretenses in the first place which is basically fraud?

Are they allowed to keep my ppi money if they have solf the debt to a third party?

The FSO didnt know so passed me to the FSA. The FSA said i have to check the TOB of the first plus PPi agreement and if it doesnt state this i have to take First Plus to court

I have also just spoken to some moron at First Plus who told me that the debt was 'settled' by the arrears department on 24th December 2010?????

LAstly how do i speak to anyone that knows how to answer my questions at this place??? Frustrating isnt the word.

Any advice on this would be great.

Seems i always have the most complicated issues !!!!

Thanks guys :tinysmile_grin_t:

[leclerc]

Re: First Plus Keeping PPI Refund

If first plus are part of the bankruptcy then yes, I believe that they are entitled to offset this against the total debt owing. However, that should mean that the DCA should be claiming that you owe less since the PPI offset part of the debt owing. However, if the debt was part of a bankruptcy, then they have no right to claim since all those matters went through the official receiver and monies owed would have been dealt with at that time.

[akania]

Re: First Plus Keeping PPI Refund

Ok so basically even theough the debt was settled in 2010 = no debt in exisitance, and they have sent me a letter stating that they agree i shouldnt have been sold the PPI policy, they can still do this?

Not being argumentative just want to know for sure.

[leclerc]

Re: First Plus Keeping PPI Refund

Ok so basically even theough the debt was settled in 2010 = no debt in exisitance, and they have sent me a letter stating that they agree i shouldnt have been sold the PPI policy, they can still do this?

Not being argumentative just want to know for sure.

Was it part of the bankruptcy proceedings? If yes then the interest is yours but the PPI refund is not.

[akania]

Re: First Plus Keeping PPI Refund

Yeah the debt was. So really there is no point me fighting this?

[leclerc]

Re: First Plus Keeping PPI Refund

imho, I don't think so but the DCA should also go away because it was part of the bankruptcy so as First Plus have had their fill then the DCA can have no fill

[akania]

Re: First Plus Keeping PPI Refund

Ok thanks

Ill have to just sue them for Mortgage mis-selling instead

[skv123]

Re: First Plus Keeping PPI Refund

Ok thanks

Ill have to just sue them for Mortgage mis-selling instead

won't the same thing happen again...