Am i being dim?

[Harley]

Hi all. Would anyone be able to direct me with my first post because I don't think this section is the right place! I have a query relating to a ppi taken out for a horrendous secured loan with First Plus in 1999 but apparently through a broker called Freedom Finance. It was a very dark time in my life and after it was cleared in 2003 following a divorce and house sale I tried to put it behind me. But it's always made me so angry with myself for being so stupid about the actual loan but now I'm also annoyed belatedly about the actual ppi (front loaded onto the loan) I've got some of the First Plus details and completed Barclays on line ppi claim section but they tell me a letter is on its way and they are going to reject it. I wasn't surprised as I can't seem to find any successful stories on Money Saving Expert site but then found this one and thought I would try here for advice. Can anyone please tell me where I should post this or if I'm flogging a dead horse anyway.
Your help would be so much appreciated.
thanks in advance

[Kati]

Re: Am i being dim?

Hi @Harley to LB ... here's as good a place as any to post

I'll tag @Amethyst and @Debt Camel for you xx

[Harley]

Re: Am i being dim?

Thanks for lovely speedy reply and tags. I did find some posts from several years ago in which a person called di30 seemed to have experience with FIrstplus and brokers but I don't know if she is still a regular ? How can I find out? Thanks x

[Kati]

Re: Am i being dim?

Thanks for lovely speedy reply and tags. I did find some posts from several years ago in which a person called di30 seemed to have experience with FIrstplus and brokers but I don't know if she is still a regular ? How can I find out? Thanks x

I've not seen [MENTION=622]di30[/MENTION] for a while (but hopefully she'll see the tag and pop on) xx

[Amethyst]

Re: Am i being dim?

Do you know their reasons for rejection of your claim?

[Fred]

Re: Am i being dim?

https://publications.parliament.uk/p...7ix_we_j02.htm

The above contains information on Firsplus PPI history if it helps, be nice to know as Amethyst above has indicated, why/for what reason have they rejected you're claim ? Its complicated at that time (1999) because of changes in regulation but, you see it was owned by the Woolwich until bought by Barclays.

[Fred]

Re: Am i being dim?

I will ask our group if anybody has information on Cassidy Davis claims for PPI started pre-2002......

[Harley]

Re: Am i being dim?

Do you know their reasons for rejection of your claim?

I haven't received the letter (I rang to chase). They said it was final response letter on its way. But I gather from what he said it's because it was sold via a broker. Broker apparent longer trading!! (Freedom Finance).
i asked them who the underwriter was but they said they didn't know but it could have been Cassidy Davies.
But I've just come across more paperwork. My then husband and I moved address only a year later in 2000, the plan had been to pay the loan off but because interest was added etc it was too big to repay!! We had to move it to the new address. I've just found the new credit/loan document we signed but that was definitely through First Plus directly.
I was wondering if that would put a different light on things?

[Harley]

Re: Am i being dim?

Sorry for duplication!! I'm new to this and was trying to reply to a previous comment by Fred-

Thank you for the info. Not sure if you've seen my later post regarding the fact that we signed a further agreement when we in effect moved the loan ( i can see it had the same account number) again with ppi In August 2000 when we moved house and again it was secured on the property. I know this was definitely direct with First Plus and I wondered if that would alter anything? ( I've only just found this info today)
thanks

[Kati]

Re: Am i being dim?

Thank you for the info. Not sure if you've seen my later post regarding the fact that we signed a further agreement when we in effect moved the loan ( i can see it had the same account number) again with ppi In August 2000 when we moved house and again it was secured on the property. I know this was definitely direct with First Plus and I wondered if that would alter anything? ( I've only just found this info today)
thanks

hang tight Harley ... I'm sure the Beagles will get back to you soon xx

[Fred]

Re: Am i being dim?

We are looking onto this but, the dates (given 17 years ago) make it difficult.

[Kati]

Re: Am i being dim?

Thanks [MENTION=42565]Fred[/MENTION] xx

[Harley]

Re: Am i being dim?

I do appreciate it's a long time ago. Would it be worth going back to Barclays ppi complaints dept with the new paperwork I've found (dated 2000)? From my conversations with them I get the feeling that my rejection was a standard, almost automatic rejection, I wonder if they are even aware of the later loan agreement. When I completed the online questionnaire I didn't even put the 2nd secured address as I had forgotten that we had moved the loan. Although I don't have bank statements relating to that time, I've also found the letter confirmation from the solicitor when we sold the second property confirming paying off the whole loan.
Due to this being a bit complicated, would there be any point in me going to one if the ppi loan companies such as Synergy or Brunel Franklin who say they deal with very old loans? (I know the general view is that I could do it all myself and save their fee in the unlikely case I got anywhere but in this case I wonder?

Many thanks for your help

[amersall]

Re: Am i being dim?

Please do not use a company, big mistake. I have now got hold of Di who will help you with this at some point.
I registered on here today just to let you know I have located di.
I found this post from di on MSE. I posted this on FPC on Facebook a couple of days ago when "fred" asked the question. Barclays will not entertain you, go for the underwriter in both cases, we can help you with this, FOR FREE.

This is one post from di, up to now, that I have found from a loan from 97
" Default Reclaim upheld by Underwriter/Genworth.
I would just like to confirm that in regards of a rejection from Santander via GE cap one, an account opened from 1997 until 2005, FLA also rejected, as their letter arrived today, and at the same time as Genworth Financial, who is the underwriter/insurer of GE Cap bank.
Very chuffed, and as this was not long rejected by Santander, it only taken a matter of a few weeks (2) with the underwriter.Full interest too."


My opinion is that you should go for the the underwriter Cassidy davis for the first loan and whoever the underwriter was for the second loan (Barclays should know this, or do a SAR request) as mentioned in the posts. I am still waiting for di to reply to my email from yesterday, if she responds and has any more info, will let you know.
Reasons for mis sell
We/I believe We/I were mis sold the PPI on the above account number and would like recordings, if any to the contrary of our reasons for mis sell set out below.

1) We/I were not told that the PPI was in effect another loan that was added to the original loan and was repayable over the entire loan term with interest.

2) We/I were told that the PPI was a 5 year policy, but not told the ppi would still be on the loan to term end with interest.

3) We/I were told that if we did not make a claim,or go into arrears on the ppi then after 5 years we/I would receive the cashback of PPI but were not told this would not include the interest made on these payments that were paid over the 5 years.

In line with the FOS recommendations it is requested that the overall situation be restored as if PPI had never been included. This will entail:

A refund of the monthly payments that have actually been paid towards the overall loan in excess of those that would have been needed, if the original loan had been sold without the PPI policy.

In addition, interest at the rate of 8% simple per annum to any excess payments made from the time each payment was made to the point that( company) pays them back to us. We/I believe we/I were not given enough information on this PPI to make an informed decision. Had we/I known the full cost of this PPI we would not have taken it.

Unless you can prove without doubt that this PPI policy was fair, reasonable and suitable for our circumstances we will require you to rearrange the loan as if PPI had never been included.
(adapt to your circumstances)

[Harley]

Re: Am i being dim?

Hi, many thanks for your help and support. I was feeling very down about it yesterday and thinking all is lost. Actually I did also post on MSE yesterday just in case there was anyone else with something similar but the response back was very negative and actually upset me a little. So your reply cheered me up!
One thing that was pointed out was that even though we signed 2 different credit agreements, 1999 and then in 2000 on moving house, , they still count as the same loan ( the account is the same).
I don't really understand that but the amounts of loan were identical on each credit agreement.

Barclays told me the underwriters were most likely Cassidy Davies.
I will wait and see what [MENTION=42565]Fred[/MENTION], Di and yourself and any others may say. It all is very much appreciated, thanks