PPI Reclaim From FirstPlus ~ IVA Settled 2 years a

[orchid5]

Hi Theresa1, sorry to hear that you are having problems with a PPI claim, this is unfortunately a bit of a minefield at the moment, especially with off-set debts. I'm not an expert, sadly nor am I a legal eagle but hopefully someone will bob on soon and perhaps give you a better idea.

[Theresa1]

Thank you Orchid5,

It's one of those days were everything is beginning to raise the stress levels and that's not a good thing in our household.(hubs suffers from epilepsy and between the IVA and this PPI fiasco) Well lets say its not improving his health or mine.....

Thank you for your care, means alot xxx hugsxxx

[MelanieGiles]

I suspect that First Plus do have a correct right of set-off, but there are several differing views on this point at the moment. If the refund is significant, it may be beneficial to you to challenge this -at Court if necessary. Until challenged, the situation will remain a grey area and creditors will probably try it on as much as they can.

Insolvency practitioners have no appetite to challenge set-off right now, as they are afraid that if the matter is ruled in favour of the creditors, this will damage tbeir ability to claim PPI refunds generally - and thus prejudice the other creditors. Whilst some creditors are not exercising set-off, they would rather continue to collect what money is freely available, and risk some of the claims being set-off.

[Theresa1]

****UPDATE OCTOBER 2013****
Good Morning everyone,

Been a while since I was on the forum and for that I am really sorry, real life and this ongoing Firstplus issue has kept this bunny very, very stressed and busy.

But I have an update and also seeking some help from my fellow members here.

So, after months of negotiations with Firstplus they are apparently sending me a definitive answer to my initial complaint from May 2013! ( won't hold my breath)

But, during discussions with Firstplus it has been made clear to me that I would be morally justified to take my complaint further, possible legal action against Firstplus.

Basically, Firstplus after sending me an offer in May 2013 making full readdress to myself and partner.

Suddenly, changed their minds and withdrew the offer as they had in their words 'identified an amount' on there accounts and where applying my PPI Claim refund to this account. Upon, further investigations by myself which has taken up until this week. They, said that this amount they had discovered was an account they had set up and run alongside my original account, so that in the event of my IVA failing they would know what was due to them.

I concluded that as an Internal Dummy account, I could see why this had been done by them, but pointed out that when my IVA was settled in Full and Final Settlement in 2010. This 'Duplicate' account should have been Legally Written off and have a Zero balance as per my original account with them states.

They then advised that Interest on this account had not been closed off and had been accruing since 2007! I pointed out that the terms of the IVA to which we were all bound, was that interest and charges were to be frozen from the moment the IVA was in force and that they could not apply interest to this figure as in mine and my IVA's eyes this amount/dummy account should not exist.


My Insolvency Practitioners have already advised Firstplus in May 2013, we were no longer restricted by the terms of our IVA arrangement. Furthermore, we are entitled to pursue mis sold PPI and any reclaim is due to them in person and does fall under the terms of our arrangement.

So as you can see there are a lot of issues I have, so my loves does any of you lovely people know where one goes from here, I know the FSO would look at this case, but I am strongly thinking of pursuing this in Court so that is set's a precedent over this grey area as Firstplus calls it.

So any advice of how and any recommendations of Legal Advice and were to start would be immensely helpful.

Tess x

[nickjohn]

Whilst the IVA was in force did Firstplus sell the debt on.

I have been told that as all our debts have been sold on then the original bank / credit card company could no longer off set any PPI as there is no longer an outstanding debt with them, if that make sense..

[Theresa1]

Morning Nickjohn,

That is an interesting aspect which I had not thought to pursue, but now you mention it I do recall this account being forwarded to debt collectors in the early days of the IVA.

Thank you I am off to investigate further xxx

Tess

[MelanieGiles]

Was the debt secured or unsecured Tess?

And can you afford to engage a solicitor to act for you? I know one or two good ones I could recommend.

[Theresa1]

Hi Melanie,

Sorry for delay in responding, the debt was unsecured as our house was handed back to bank at beginning of IVA in 2005, therefore once sold the loans attached became unsecured and was entered into the IVA.

I would be interested in your recommendations Melanie, as I personally feel this grey area needs to be challenged for the good and peace of mind of all that follow or are in the same predicament.

Look forward to hearing from you.

Tess

[Theresa1]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by MelanieGiles

Was the debt secured or unsecured Tess?

And can you afford to engage a solicitor to act for you? I know one or two good ones I could recommend.

Was wondering if anyone has had any success with bringing any Legal Action against First Plus for their PPI Refunds?

[lifenoteasy]

There appears to be a company still progressing claims against them.

However as the last post against this discussion was almost 2 years ago whilst some of it still has relevance things have moved on as have some of the people contributing to it.

You may want to start a new one.

[Theresa1]

Thank you my lovley, I shall I was just hoping some of the old gang was still around have had a Ombudsman ruling wanted some clarity of and found a very interesting court case ruling that may help some other in their PPI battles. Will pop a link below and then start a new discussion xx

http://blogs.lexisnexis.co.uk/randi/set ... i-refunds/

[lifenoteasy]

That case won't help you as it is about a very specific set of circumstances although some iva companies have been using it as a reason to slow down completion certificates.

Your problem is more to do with a company that abused process and developed a reputation for trying to get out of things.

First plus was owned by Barclays in the same way that hfc was owned by hsbc.

[Theresa1]

I found the case similar to ours: We settled our IVA Certificate Issued and all other creditors under the IVA processed and refunded our PPI claims all except Firstplus.....

Was hoping that this case would help chink away at the Firstplus iceberg??

[lifenoteasy]

Not really - the company linked to this case contribute to the board and they have said why it is happening.

They even continue to issue completion certificates.

In your case it is not the IVA company that is the issue - it is the company that would be paying the reclaim wanting to keep it all in their bank account (and sorry if I have misinterpreted anything).

[welshwiz]

We received 5k from first plus and as they were not a creditor in our iva we were actually allowed to keep it and this was before our completion we actually needed a new roof at the ti.e so it was a godsend