First Plus

[Roy2911]

Hi All,

New to this

I have just completed an IVA and received my certificate of completion, can i claim PPI against First Plus ? one is currently running taken out in March 2007 and the other is an old one from 1999 still have all the paper work.

Current First Plus Loan ( March 2007)

Original Loan - £55,000.00
PPI - £13,469.50
Total - 68,469.50
Term - 20 Years

Received Cash Back after 5years £13,469.50 where we had to declare this to our IVA, I am sure this PPI or Interest is still attached to the loan for the full period ( 20 Years) after calling First plus there did indicate that this was taken out through Loan Line i have no recollection of this at all, would it be First Plus who are responsible or the alleged broker??

Old Loan (October 1999)

Original Loan -27.500
PPI - 6734.75
Total - 34,234.75
Term - 10 Years

We ended this loan in January 2003 due to financial difficulties and went to our bank, Can i still claim PPI after such a long period

Any help or guidance would be appreciated

[Turboman]

Re: First Plus

Yes--our di30 has claimed stuff back earlier than that

I will help you with di30 when she gets here---just tell me about this Cashback if you will

Was it on the Consumer Credit Agreement?

Can you post up both Consumer Credit Agreements with your details removed?

If not--E-Mail them to PPI@legalbeagles.info

[Roy2911]

Re: First Plus

Hi

Thanks for the quick response , yes it was on both Credit Agreements i will have to email them to you

[ArcMorpheus]

Re: First Plus

Hi Roy,

I have reclaimed PPI from Firstplus after the Full and Final Settlement of my IVA back in 2010. Initially, they agreed to refund to me but then retracted their offer and want to use my refund to offset the debt they wrote off as part of my IVA terms. I am in negotiations with them about this and will update when I know.

So the answer is yes you can but be prepared for them to off set it against any losses they might have had.

Tess x:colbert:

[Roy2911]

Re: First Plus

Hi

Old Loan (October 1999)

Original Loan -27.500
PPI - 6734.75

Sent ppi claim form off for above loan and have received a reply from First Plus telling me that this loan was sold to us by Loans .Co.Uk there have forward this complaint on to them to investigate?

Not sure what action we should do now?????
First Plus have said in the letter that this is there final response to our complaint
Total - 34,234.75
Term - 10 Years

[Roy2911]

Re: First Plus

Hi

Just noticed the last post was a bit messy probably frustration

Loan taken out October 1999
Original Loan -27.500
PPI - 6734.75
Total - 34,234.75
Term - 10 Years
Monthly Interest 1.17%
APR 14.9%
Monthly Payement - £532.38

[Roy2911]

Re: First Plus

[Amethyst]

Re: First Plus

Sent ppi claim form off for above loan and have received a reply from First Plus telling me that this loan was sold to us by Loans .Co.Uk there have forward this complaint on to them to investigate?

You mind find this of interest then http://www.fsa.gov.uk/pages/Library/...2006/105.shtml Your loan was taken out in 1999.

FSA fines loan broker £455,000 for PPI selling failures

Loans.co.uk Limited failed to make sure adequate processes were in place to ensure the suitability of its PPI recommendations and treat its customers fairly.

FSA/PN/105/2006
26 Oct 2006

The Financial Services Authority (FSA) has fined Loans.co.uk Limited (LCUK) £455,000 for failing to treat its customers fairly when selling Payment Protection Insurance (PPI). The regulator found that LCUK did not have appropriate systems and controls to minimise the risk of unsuitable sales.

At LCUK, PPI was sold on an advised basis over the telephone. The FSA investigation found that the firm failed to gather and record information to show that the policy recommendations it made were suitable. The FSA discovered that customers did not receive enough information at the point of recommendation to make an informed decision about the PPI policy being offered. Therefore, customers could not be sure if LCUK's recommendation was the right option for them.

LCUK's breaches were particularly serious as the failings exposed approximately 14,400 customers to the risk of the sale of PPI which was unsuitable for their needs.

Also have a read of the FOS information on where the consumer received a “cashback” payment at the end of the policy term - http://www.financial-ombudsman.org.u...i/redress.html - you have to scroll down a bit to find that part but should give you an idea of how to work out what you are owed.

[Roy2911]

Re: First Plus

Thank you

[di30]

Re: First Plus

Hiya

Sorry for not posting earlier.

All this in hand at the moment?

[Roy2911]

Re: First Plus

Hi di30

Seems to be just awaiting response from First Plus regarding other loan (2007). as early post the 1999 loan has been past on to Loans .co.uk will keep you posted of developments.

Thank You

[di30]

Re: First Plus

Hi Roy

And thank you too. :tinysmile_twink_t2:
I shall keep an eye on your posts then.

I have been successful in making reclaims from loans taken out from the mid 90's, so hopefully there is still hope here for you too....

[Roy2911]

Re: First Plus

Hi All

Telephone conversation today with First plus informed both loans 1999 & 2007 both with a broker Loans .co.uk First Plus informed me ( verbally & letter) that there have forward my complaint to Loans .co.uk

Question

1.Do I wait for Loans.co.uk to contact me?
2.Should i re- send my claim to them?
3.Call Loans .co. uk and log my complaint

[di30]

Re: First Plus

Hi All

Telephone conversation today with First plus informed both loans 1999 & 2007 both with a broker Loans .co.uk First Plus informed me ( verbally & letter) that there have forward my complaint to Loans .co.uk

Question

1.Do I wait for Loans.co.uk to contact me?
2.Should i re- send my claim to them?
3.Call Loans .co. uk and log my complaint

Hiya

You could email/write to them just to say that you are aware that FP have forwarded your complaint to them, and if they could please confirm this. Also ask at the same time if they require the information in regards of the complaint (or enclose a copy you did originally send to FP) anyway just in case. Say you enclose a copy that FP received but you wish to forward to loans.co.uk for their records in case not all details been received.
Its up to you if you want to ring them and log it but do not enter into any other details of the complaint, if they do ask anything, just say the details should already be with them of all they need to know or you will send in the post again.

Good luck.

[Roy2911]

Re: First Plus

Thank You