Mis-sold PPI First Plus

[Goldlady]

Well cokezero I think that's what CAG is all about - helping each other.

 

My friends got 20k back from firstplus last week so go for it:D

[RFC1872]

Goldlady you are a good ambasador for the site.

[Goldlady]

Thank you RFC, finding this site saved me from declaring myself bankrupt 2 years ago and I have learned more than I ever did at college:D. My concern is for the people who haven't been able to find help, who are being intimidated and ripped off -and there must be many thousands of them.

[cokezero]

Thank you RFC, finding this site saved me from declaring myself bankrupt 2 years ago and I have learned more than I ever did at college:D. My concern is for the people who haven't been able to find help, who are being intimidated and ripped off -and there must be many thousands of them.

 

 

I understand what you are saying about this site. And there is a lot of good work that goes into others getting first class support and information. This support is more significant as Ii am sure you will understand when people need support of this type of - i think you will know what I mean. Any cheers for your encouragement and I will keep you posted. I think I will start over the weekend drafting a letter in regards rule 78 etc (Thanks Johnny Insider).

[cokezero]

Ok had a reply from FP in which they say they are investigating and will respond as soon as but no longer than 21 days - despite the fact I gave a timescale of 14 days. Should I push my timescale or give them the 21 days (at most)?

 

I will attempt to scan their reply tonight and post it for all to see.

 

Cheers

[hellhasnofury]

Ok had a reply from FP in which they say they are investigating and will respond as soon as but no longer than 21 days - despite the fact I gave a timescale of 14 days. Should I push my timescale or give them the 21 days (at most)?

 

I will attempt to scan their reply tonight and post it for all to see.

 

Cheers

 

Hello cokezero,

 

I see you are doing very well and have had the great assistance of Goldlady:grin:

 

As regarding timescales, it is really your call as to whether you give them 21days to investigate your claim.

 

There are three general thoughts on this

 

1. Being seen to be fair in giving them time to respond.

 

2. They may take the michael with you and send you another template letter stating they need more time and it will go on and on.

 

3. They will not take you seriously as you are allowing them to dictate the timescales.

[cokezero]

Hi everyone,

 

I today received a reply from firstplush and is as follows: would you all be kind enough to make comment and ask me questions on this below so that I can begin putting togeter my response. Just to say the conversation they claimed took place on the 6th July 2xxx, 5 days after the agreement was signed and sent - just never took place between me and firstplus also the inference that they were re-iterated suggest they had a previous conversation is just a plain lie, they never discussed any aspect of this with me. Would it help if i Posted a copy of the agreement. Also the PPI box was ticked for us and x's Marked as to where we were to sign.

 

 

Dear Ms Cokezero,

 

In my previous letter I promised to provide you with a full response to your complaint as quickly as I could. I am now able to do so.

 

My understanding of your complaint is that you felt you were mis-sold your payment protection insurance policy due to the fact that you believed you had to take the insurance for the loan to be approved; that you were unaware that this was a single premium policy; that you were not given a copy of the policy information; that your cancellation rights were not explained ; that the refund offered was not pro rata and that we failed to advise that you could buy a monthly policy elsewhere? Please let me know if you have misunderstood.

 

I have completed my investigation into your concerns and the conclusion of my review is that I am unable to uphold your complaint. I would like to explain the reason for my decision below.

 

Please find enclosed a copy of your credit agreement. This agreement shows that the insurance is payable as a single premium and the fact that it is optional could not be clearer. The total cost of the loan and the interest rate applicable are clearly stated and you have ticked the box saying you wished to opt for the payment protection plan, before both signing the agreement on the 01 July 2XXX.

 

Clause 12 of this legal document states that by signing the agreement you have acknowledged receipt of the details and limitations of the policy. This information was provided for you in the form of a policy booklet, a copy of which I note was recently sent to you.

 

Since you did sign the agreement I am happy that this booklet was received by yourselves; contained within are your cancellation rights, exhaustive details about the policy and specifically that if you settle you loan before the end of the insured term you will receive a partial refund of the premium. Moreover, this refund will not be proportional and will be substantially less than the amount you originally paid.

 

If you were not happy with these terms then you had 30 days from the commencement of the policy in which to cancel and receive a full refund of the premium. The document emphasises the importance of understanding the cover and advises that if you have any questions at all call us for clarification.

 

I hope you can understand why we would not sell products sold by other companies; the fact that the policy was optional is clearly stated and you were free to purchase other cover at any time should you have wished to do so.

 

Further more, prior to payout of the loan, we called and spoke to you and your husband on the 6th july 2xxx to confirm the details of the loan once more. During these conversations, you both confirmed you have chosen to take the optional payment protection insurance policy. The main exclusions that applied were carefully re-iterated for you and you were asked if you had any further questions: you both indicated that you were happy with all the information with which you had been provided.

 

I hope, given the aforementioned evidence, that you can understand why I have not been able to uphold your complaint on this occasion.

 

I am sorry if this is not the answer you wanted, but I hope that my explanation is helpful. Our aim is to receive all complaints internally, although we recognise this may not always be possible. Financial services complaints we cannot settle may ultimately be referred to the Financial Ombudsman Service.

 

However, before that option becomes available to you, if you would like to talk about this further, or remain dissatisfied with our response and wish to escalate this internally, please call me on x.

 

You may also find it helpful to make use of the Finance and Leasing Associations conciliation scheme to resolve your complaint. We are a member of the FLA and are bound by their lending code.

 

I will keep your complaint file open for 8 weeks so you have time consider my response. If I have not heard from you by then I will regard your complaint as closed.

[hellhasnofury]

Hi everyone,

 

I today received a reply from firstplush and is as follows: would you all be kind enough to make comment and ask me questions on this below so that I can begin putting togeter my response. Just to say the conversation they claimed took place on the 6th July 2xxx, 5 days after the agreement was signed and sent - just never took place between me and firstplus also the inference that they were re-iterated suggest they had a previous conversation is just a plain lie, they never discussed any aspect of this with me. Would it help if i Posted a copy of the agreement. Also the PPI box was ticked for us and x's Marked as to where we were to sign.

 

 

Dear Ms Cokezero,

 

In my previous letter I promised to provide you with a full response to your complaint as quickly as I could. I am now able to do so.

 

My understanding of your complaint is that you felt you were mis-sold your payment protection insurance policy due to the fact that you believed you had to take the insurance for the loan to be approved; that you were unaware that this was a single premium policy; that you were not given a copy of the policy information; that your cancellation rights were not explained ; that the refund offered was not pro rata and that we failed to advise that you could buy a monthly policy elsewhere? Please let me know if you have misunderstood.

 

I have completed my investigation into your concerns and the conclusion of my review is that I am unable to uphold your complaint. I would like to explain the reason for my decision below.

 

Please find enclosed a copy of your credit agreement. This agreement shows that the insurance is payable as a single premium and the fact that it is optional could not be clearer. The total cost of the loan and the interest rate applicable are clearly stated and you have ticked the box saying you wished to opt for the payment protection plan, before both signing the agreement on the 01 July 2XXX.

 

Clause 12 of this legal document states that by signing the agreement you have acknowledged receipt of the details and limitations of the policy. This information was provided for you in the form of a policy booklet, a copy of which I note was recently sent to you.

 

Since you did sign the agreement I am happy that this booklet was received by yourselves; contained within are your cancellation rights, exhaustive details about the policy and specifically that if you settle you loan before the end of the insured term you will receive a partial refund of the premium. Moreover, this refund will not be proportional and will be substantially less than the amount you originally paid.

 

If you were not happy with these terms then you had 30 days from the commencement of the policy in which to cancel and receive a full refund of the premium. The document emphasises the importance of understanding the cover and advises that if you have any questions at all call us for clarification.

 

I hope you can understand why we would not sell products sold by other companies; the fact that the policy was optional is clearly stated and you were free to purchase other cover at any time should you have wished to do so.

 

Further more, prior to payout of the loan, we called and spoke to you and your husband on the 6th july 2xxx to confirm the details of the loan once more. During these conversations, you both confirmed you have chosen to take the optional payment protection insurance policy. The main exclusions that applied were carefully re-iterated for you and you were asked if you had any further questions: you both indicated that you were happy with all the information with which you had been provided.

 

I hope, given the aforementioned evidence, that you can understand why I have not been able to uphold your complaint on this occasion.

 

I am sorry if this is not the answer you wanted, but I hope that my explanation is helpful. Our aim is to receive all complaints internally, although we recognise this may not always be possible. Financial services complaints we cannot settle may ultimately be referred to the Financial Ombudsman Service.

 

However, before that option becomes available to you, if you would like to talk about this further, or remain dissatisfied with our response and wish to escalate this internally, please call me on x.

 

You may also find it helpful to make use of the Finance and Leasing Associations conciliation scheme to resolve your complaint. We are a member of the FLA and are bound by their lending code.

 

I will keep your complaint file open for 8 weeks so you have time consider my response. If I have not heard from you by then I will regard your complaint as closed.

 

Hello

 

Please don't get disheartened by their response, keep at them

 

I would have just said it was a standard bog off letter, twould be interesting to hear the recording of the telephone conversation that you and your oh had with them on the date they state:rolleyes: Ask for a copy of the telephone recording or the transcript.

 

Also interesting that the ca was sent with the box already ticked and marked were you had to sign:rolleyes:

 

You may also find it helpful to make use of the Finance and Leasing Associations conciliation scheme to resolve your complaint. We are a member of the FLA and are bound by their lending code.

Do report this complaint to the FLA, I think there is information in Alanalana thread called links

 

Also report them the the Financial Services Authority, Office or Fair Trading and Trading Standards, they will not personally investigate your complaint, but firstplus will get a black tick against them and when they get enough complaints, they will fine them heavily:-D