First Plus Issues and 5 year policy

[mrbean13]

Hi I have made a claim against the policy as my husband was diagnosed with a terminal illness only to find out that the policy ran for 5 years with First Plus and one fine day they said sorry you can no longer claim against that policy because it has expired. I made a complaint to the FSO against both Barclays and First Plus and they have stated that they dispute with my decision because they found my recorded conversations stating that I was aware the policy existed for 5 years and now I can no longer claim against that policy because the five years have expired? What can I do now my husband is sick and I risk the chance of the house being repossessed?

[Amethyst]

Re: First Plus Issues and 5 year policy

I'm sorry to hear of your husbands illness. It must be a terribly stressful time for you.

First plus did a cash back type plan I believe where you had your premiums returned if you hadn't claimed in the five years.

You mentioned the recording, was this the initial sales call where you were sold the policy? When did you take out the loan, how much was it for and over what term. How long ago were the five years up and did you have returns of premiums?

There's an ombudsman case where they did find for the consumer on missold PPI detailed on the fos site http://www.financial-ombudsman.org.u...4-ppi.html#cs6
I think you'd prefer the PPI to payout to cover the loan payments rather than claim back premiums and interest really?
Is the loan in joint names?

Presumably it is a secured loan as you are concerned about repossession. Do you have much in the way of equity in your home?

Are there other debts to consider too?