Posted on 1 June 2009
FIRST PLUS PPI CLAIM NOW
We have taken on a number of claims against First Plus in respect of mis-selling Payment Protection Insurance (PPI) which has been added on to a loan. Our clients are claiming the following:-
Return/Refund of the Cost of the PPI Policy
There are many claims for a refund or return of the PPI policy paid to Black Horse and to cancel the policy.
Loan to be Re-Written
To reflect the fact that the PPI policy should never have been added to the loan in the first place, that the loan should be re-written to remove the cost of the loan and to write-off all interest payments.
Loan to be Written Off
On loans taken out prior to April 2007, there is a possibility that if the PPI was not optional, the entire loan together with the PPI and all interest could be written-off and refunded.
CLAIM NOW
If you think you have a claim take our 30 Second First Plus ppi Claim test by clicking on the link below.
FIRST PLUS PPI CLAIM NOW
We operate a NO WIN NO FEE policy so you have nothing to lose to refund your PPI.
If you answer Yes to one or more of the following questions you may have a claim for PPI refund -
- First Plus failed to ask me about any pre-existing medical conditions when I took out a PPI policy
- First Plus failed to ask if I was or was shortly due to become self-employed when I took out the PPI policy
- First Plus failed to ask if I was retired or very close to retirement ages when I took out the PPI policy
- First Plus failed to ask if I was not employed (including student) when I took out the PPI policy
- First Plus failed to ask if I was a public services employee when I took out the PPI policy
- First Plus failed to ask if I had other protection policies in place when I took out this loan
- First Plus failed to advise me that I did not need the PPI policy as I could have repaid the loan/outstanding balance using my savings
- First Plus failed told me that the PPI policy was compulsory and not optional
- First Plus failed to ask if I was not aware that the PPI policy was optional
- First Plus failed advise me that I would get a better interest rate or the PPI would cost much less if I took the PPI policy out with another insurer
- First Plus did not make me aware of the cost of the premiums on the PPI policy
- First Plus did not make me aware that the PPI policy cost would be added to the loan and I would pay interest on the cost
- First Plus did not make me aware that I had taken out the PPI policy when I took out the loan
- First Plus did not make me aware that I could purchase alternative PPI policies with other providers when I took out the loan
- First Plus ppi claim did not make me aware that the PPI policy did not cover the life of the loan
FIRST PLUS PPI CLAIM NOW
Our Top 6 PPI Mis-Selling PPI Claims
We have listed below the most common complaints by our clients against lenders for the mis-selling of PPI policies:
1. Pressurised Sales
The sales advisor tells the borrower that without the PPI they are unlikely to obtain the loan due to their credit history or something else which may go against them if they do not take out the PPI. This type of pressurised sale is one of the most common techniques used. It must be remembered that PPI policies should be optional. A First Plus ppi claim may be made for a mis-sold First Plus PPI claim.
2. Assumptive Sales
Our clients experience are such that the PPI was on an “assumptive sale” that is, the PPI sold by the lender “assumed” that the borrowers wanted PPI rather whether it was suitable for them. To sell any PPI policy the lender must investigate whether the borrower really does need the PPI policy and establish any existing cover through insurance or employment.
A First Plus ppi claim may be made for a mis-sold First Plus PPI claim.
3. Failure to Ask About Pre-Existing Medical Conditions
All PPI policies contain small print that exclude pre-existing medical conditions. The sales advisor often fails to investigate and ask the right questions to ensure that the borrower would be eligible for the PPI. Any pre-existing condition would bar any claim and make the PPI worthless.
A First Plus ppi claim may be made for a mis-sold First Plus PPI claim.
4. Failure to Establish Existing PPI or Cover
Often the sales advisor does not ask the right questions on whether the borrower has any exiting PPI or existing similar cover which could be available through other insurance policies the borrower may have or through his/her employment. For instance the employer’s contract may pay the borrower his/her wages in full or in part for 6 months if they are off work due to illness. Should this be the case a careful analysis has to be considered to see if the PPI is suitable.
A First Plus ppi claim may be made for a mis-sold First Plus PPI claim.
5. Did not Know About PPI
In a fair proportion of cases the sales advisor did not even tell the borrower about the PPI. The PPI cost was simply added to the loan without any knowledge. Should this be the case we will assume that the PPI was compulsory and therefore there is a chance that the loan could be written-off as well as a full refund of the PPI premiums paid.
6. Re-Selling PPI on Second Loans
There are other cases where our clients have been contacted by lenders to sell them a second loan. The second loan was then used to pay of the first loan (including the PPI) and then they have been sold PPI again. The PPI policy is “re-sold” or “churned” which in such circumstances are not fair to the borrower. The cost of the PPI in all loans sold in this way can be reclaimed or refunded and in certain cases have both loans written off in full.
A First Plus ppi claim may be made for a mis-sold First Plus PPI claim.
FIRST PLUS PPI CLAIM NOW
First Plus PPI Claim First Plus Loan PPI Claims Mis-Sold First Plus PPI Refund First Plus PPI Claim
