In 2006 we took out a loan with First Plus and it was arranged through the brokerage firm as above. Central trust told us we were lucky to get offer from first plus blah blah blah. Anyway things went along and were getting sorted out then a phone call came strongly advising us of need for ppi with all the benefits that went with it, payments back if no claims etc...First lot of paperwork arrived loan amount as agreed £70000 and £155 a month of ppi premium.... no mention of interest on ppi. Time goes by pressure mounts i.e. telephone urging us to get paperwork back. After extreme pressure we signed and sent them back. Came across page in amongst legal jargon £17143 PPI NON REFUNDABLE. Has anyone else had this? We paid off the loan in total just over 2 years later to the tune of £87500 including ppi. They did not give us a breakdown of what this covered!!! Has anyone else had a similar situation? I was about to send of for everything to Central Capital and rang FSO for clarification on whom to write to, Central Capital or FirstPlus, they immediately took it out of our hands and sent of letter on our behalf but I am confused about what happens next?

could someone tell me when they are selling you this ppp should they tell you this will form part of the loan i.e. over the full term of the agreement and when they send out samples of payments, cost of loan, monthly payments etc, it only quoted amount borrowed which was £70000 but no mention of the true cost of ppp, this lead us to believe that the policy's only cost was the premium paid monthly, it was not mentioned at anytime this was added on up front and would add £17000 on to the cost of the loan. On these grounds can we claim we were missold the product?

Please Help,we have A PPP With Firstplus and we pay £155 A month plus Interest And Well On The Face Off It That Looks Quite Simple Except I Was Sold This Policy To Cover 60 Months Of A Longer Loan. Now I Am No Einstein But 155x60=9300 So Why On The Credit Agreement Is The Policy Costing Me £17000 Plus Interest. That Means Even If I Did Qualify For The Cashback As It Was Sold To Us, We Would Only Get Back Our Premiums And Still Leave Us Approx £8000 Plus Interest To Be Paid Back To Firstplus. Could Someone Advise Me If This Is As It Appears On Anyone Elses Loan Agreement. Has anybody ever queried the thought that it may be unlawful to be charged 2 lots of interest on the one item?

Hi there you and I are both sad individuals, when i spoke to some cocky know it all he told me the outstanding amount of ppp i.e. the £17750 would only be decreased by 14%. could this be right after all I am paying off something that was preloaded with 20 years interest

Hi there, i hope someone can help me understand what is going on we took out a firstplus loan for £70000 in feb 2006. We are looking to settle up early (we know we are going to be hit with erc) but when we took out the loan at the start we were told about this great little policy where we pay in for 5 years to a policy which we would get back our premiums. Anyway at the time this was a perk for doing business with them and which according to the sales person was a very good idea(of course it would be). Policy payment £144 a month which according to my calculations is £8640 for 5 years worth of cover, anyway having got out the loan agreement payment protection have now realised actual ppp loan (not mentioned it was a loan)amounts to £17750????? Making loan repayable £87750!!!!!We were put under a lot of pressure at time to get things returned and i mean alot i.e daily phone calls. this policy has been loaded from the start, where has this mysterious amount materialise from? Honestly when policy was taken out no mention of it being a loan was told it was an insurance policy to cover us in the event of disaster. please help.

Stacey Absolutely great;) Hephalump

Hi John , where does that leave us poor sods if the courts don't allow us to proceed through small claims with amounts over £2000 and won't let us split the claim(do you ever get the feeling the poor old Irish get it in the neck everytime). Surely going any other way would greatly penalise us all financially as we would require solicitors etc and not every solicitor will work on a share out at the end. If the case was lost, God forbid, we could all be liable for huge legal fees on top of everything else. Hephalump

Diane From what I have been told so far that is cobblers but you have to wait for each claim to go through before commencing the next and that might be a problem in the fact that they seem to be so drawn out. I know its a pain about the solicitor but if it comes to it you can always add on the cost to your bank!!! Hephalump;)

Hi diane, Have just read your response to Stacey and was wondering is this because your claim is over £2000 or would it be worth halving it between 2 legal actions. Hephalump

hI garyh Don't know what I can do, bank has sent 6 years statements but I had asked for statements relating to two accounts although other one became redundant last year. The bank has told me that there is no hope of getting these statements as they have changed their system..any ideas on this would be extremely helpful Hephalump

HI Noomill060 Hephalump here long time no talk. Got 6 years back statements for one account hooray!!! But had asked for ones on another account which became redundant last year and have been told noway can I GET THEM AS THEY HAVE CHANGED THEIR SYSTEM-don't know where to go with this. Any ideas?

Sorry misunderstood your resonse until I read it again, you see I actually sent them a £10 NOTE THINKING THEY COULDN'T REFUSE and I do know that they accepted it in a roundabout way although a snooty staff member told me they didn't have to as they don't accept cash(they must be joking they are a bank).

actually i was told by COMMISSIONERS OFFICE THEY CANT DICTATE FORM THAT MONEY IS PAID TO THEM AS THERE IS NOTHING TO SAY FORM OF PAYMENT IN D.P.A 1998 ALTHOUGH THEY WILL USE IT AS AN EXCUSE TO USE STALLING TACTICS. THE WAY IM LOOKING ON THIS AT THE MINUTE IS THEY'VE TAKEN MY SILVER SHILLING AND STILL NOT COME UP WITH THE GOODS. THEREFORE THEM ACCEPTING THE £10 MEANS TO ME THAT THEY HAVE ENTERED INTO A LEGAL AGREEMENT OR ELSE THEY HAVE PERPETRATED A THEFT!

Hi Lickthewallfatboy, When I Wrote Off My First Letter I Was In Such A Bad Temper I Had Not Done The Necessary Ground Work And DID NOT SAY THE INFORMATION WAS BEING REQUESTED UNDER THE DATA PROTECTION ACT, The Bank Said This Was Not Viewed By Them As A Legal Request Although When I Discovered My Error I Sent Them £10 And Made Sure The Second Letter Did State That The Information Was being requested under the Act - Do You Think Their Right?

As far as their concerned I'm going to be Snowwhite ,The Virgin Queen and Mary Poppins all wrapped up in one- oh look poor little victimized me boo hoo. Who cares for the weak and looks out for the dis-enfrachised but underneath!!!They won't know whats hit them.