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About magicnut

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  1. Thank you both, I did call them on a number of occasions initially to talk to their 'rescue team' however after leaving lots of unanswered messages and call back requests I got through to the customer services who offered me the loan as the only solution. I now have the loan payment, reserve fees, interest and account fee each month they must be raking it in!!
  2. Thanks Dx, I have just been reading a little about the BCOBs sound a little daunting, how would I go about proving in court that my bank had treated me unfairly? I can see that I fall into the levying charges upon charges example of unfair treatment and perhaps if I take a deep breath and add up the charges (aka reserve fees as they are now known - I take it so they so they cannot be described as unauthorised?) over the last 3 years then I may have a case that the fees are excessive and unfair compared to my income at the time? Am I along the right lines with these?
  3. Hi all, Need some help with my barclays account, which I have held for years like many of you from what I have read so far. I am in a spiral of reserve fee charges, and overdraft debt. My wages go in each month pay all the bills, then the charges, interest account fee, etc, come out and I am straight back in the the reserve amount and incurring charges to be paid out the following month..it's a never ending circle. I do not want to count how many reserve charge letters I have received but I could easily pay off my 1800 overdraft and some, with what they equal . I phoned barc
  4. Hi all, I'm fairly new to this posting threads business so please bare with me if i am doing this wrong! I have been trying to claim back the PPI on a first plus loan that I took out in 2005 for some time. My first complaint was after I found out that the PPI was front loaded on to the whole term of the loan 10 years. .even though you are only protected by it for the first 5 years. My second complaint came when I found out that any pre existing medical conditions would not be covered by the PPI although no medical questions etc were asked. I have written to them
  5. Hiya, Yeah that is right, I have a firstplus loan and I tried to cancel the PPI thinking that this would make my payments a lot lower and work out cheaper than waiting for it to be paid back. I phoned them and the figure they quoted barely reduced the monthly payment, I queried this and they advised it was because the PPI and the amount borrowed were intermingled now, that the interest and PPI were all added to the loan at the time of taking it out i.e: front loaded. This also means from my understanding (.. please someone point me in the right direction if I am wrong..)that you ar
  6. Hmmm that is strange and how can they say that there is no link when their letters clearly state that the increases are due to both the FHBR and BoE. But I suppose that rule is fine for them as long as the interest rates are going the right way!! It is very interesting that our interest rates started at the same point of 9.4% but are now very different? I agree surely if it is based on FHBR and BoE increases should be across the board? I too had an increase of 0.3% in Feb 2007 stating the Bank of England interest rate increase as the cause. Then in April 2007 mine too went up by 0.5% this
  7. Hi, Your letter sums up exactly what I too have been going through with fp. When I took out the loan I understood the term variable in mortgage terms and when it was sold over the phone it was called a variable rate loan but then discussed no further. Here is the letter re rates dated January 2008 (sorry for the delay) ' As a FIRSTPLUS customer the rate on your account is variable. Any changes to the Bank of England interest rates or Finance House Base Rate (FHBR) could affect the rate we charge our customers. Since our last interst rate increase in July 2007, there have been furth
  8. Hi, I am new to the site and am too experiencing the same problems with first plus, which led me here. Since I took out the loan in 2005 the interest rate has only increased. In one year it has gone from 9.4% to 10.8%. I have a copy of a letter here notifying me of an increase. It states that... "Any changes to the bank of england interest rates or Finance House Base rate (FHBR) could affect the rate we charge our customers." However with the decrease in the bank of england rate there is no sign of a decrease in my interest rate.
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