Hi Please can someone give me a little advice with early repayment on a Secured First Plus loan? The situation is that in Februrary 2008 I took out a 40,000 secure loan with First Plus (no PPI). I am wanting to pay this off when I sell my home this year. There should be enough to cover the loan if the interest is calculated in a normal way. I am concerned that I might have a Rule 78 loan (or something like that) and I am concerned that I will have to pay back more than I originally took out? Is there an early redemption penalty that I need to be aware of? On my agreement under Early Repayment it says something to the effect of I will need to pay back all installments and interest to the settlement date which seems straight forward but then it mentions a rebate in line with the CCA notwithstanding that this agreement isn't covered by the CCA. ?? I have tried registering with.the first plus complaints website but the registration form will not accept my email account. Which is why I came back here. Thanks

Thanks Ninja.8) I am assuming that the solicitor would do the conveyancing? So am I correct in thinking that as I don't need any conveyencing my solicitors fee may be less than when moving from one mortgaged property to another mortgaged property? Am I also correct in thinking that the "siposal of asset" for the paying of the First Plus debt will just form part of the forwarding of money that would happen during a sale anyhow? And as such the dealing with First Plus isn't likely to cost too much ? I have read a lot about getting Full And Final Settlement letters a lot on this forum, will the solicitor know to ask for one of these or does the fact that I am using a solicitor to pay for the debt automatically cover my back anyway? As you can imagine I just don't want them to be able to bother me in the future once I have paid it off. During a divorce several years ago I agreed to a financial clean break where neither party could make any future claims on the other. Is there one of these for companies like First Plus?

Hi At the end of this year, when my mortgages redemption penalty no longer applies I am going to sell my home and rent in my local city. I currently have a mortgage (72k left) and a First Plus loan (around 40k left) and I am considering using "save and move" to sell the property and not use a solicitor to keep the costs down. I would like to know the best way to deal with First Plus in this situation and whether not using a solicitor is a good or bad thing. I also would like advice on doing you own conveyancing but I'm not sure where to post about this? Many thanks

Hi there, Thanks to your forums I am aware that in the UK credit card debts become statute barred after 6 years and mortgage debts after 12 years. I am in a position where after a legal battle with a neighbour money is owed on both sides to the other, is there a number of years where this type of debt is written off and becomes statute barred? Pepperchips