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  1. Hi I am new to this site so hope i have got the right section. My husband is going to be redundant in Oct. we have a secured loan from first plus. The monthly payment is £690.00 when made redundant we wont be able to afford this. my mum has given as a gift £30,000 i got a settlement figure as follows Total amount payable £57570.32 rebate £12022.57 admin £150.00 total amount to settle £45697.75 I rang FP they said write in see if they would accept £30,000 i final settlement i doubt they will . They have said the we will still have to pay the £690.00 per month and the term will be lower this is of no use as we wont be able to afford that amount. The first mortgage with Halifax would accept the £30000 and the monthly payment would be reduced by £250.00 per month but i really want shut of first plus i am in arrears with them of £345.00. Any advice please thanks
  2. Hi all, Please could I get some advice from you about my first plus and PPI claim, we took out an original loan in aug 2003 via loans.co.uk for 20K plus front loaded PPI (we have since had a refund on this) in dec 2003 we took out a further advance from first plus and so started a new loan for £30k plus added PPI of nearly £8k, we thought that we dealt directly with FP and it was only when we started a PPI mis sale claim in 2007 FP told us that we had taken the loan via a broker Central Trust and that we had to chase them for claim, which we did, they sent us a final response saying they were not regulated at time etc so nothing they would do, we have since been getting into alot of problems with repaying this loan and decided we would try again and so I contacted central trust again and got a SAR request from them, they still wouldnt pay back PPI so it has been with FOS ever since. in june as I had heard nothing from FOS I contacted them again and they agreed to fast track our claim, I had an email yesterday from them saying there is still some confusion over who is responsible for loan as FP had told FOS that the broker was a company called Independent Finance Company who are no longer trading and the FOS couldnt understand why we didnt know about this broker and why didnt we just go back to loans.co.uk ? Then it dawned on me, I knew I had no recollection of taking this loan through a broker and thought that we were dealing with FP direct as all paperwork came from them, then the penny dropped and I remembered I didnt contact them at all, they called me pretending to be FP and asking me as a valued customer would we be interested in a further advance, they didnt need to get much info from us as we had provided it to FP 3 months earlier and all we had to do was fax back paperwork (which we assumed was going to FP) so not only have we been mis sold a PPI policy but they lied to us and pretended to be FP to get our business and I presume without our permission FP gave them all our info!!! I found in the SAR info a letter from Central Trust acknowledging they are responsible for the sale of loan and PPI I assume this Independent finance were a subsidiary of theirs and it is central trust we need to deal with, but they were not regulated by anyone in 2003 it would seem I have an awful feeling that it wont be upheld and FOS cant do anything. When I sent in SAR request they told me that they couldnt provide recorded calls as they had been corrupted but sent the notepad of the calls and action that was taken and it very much indicates that they contacted me first and also that they made alot of commission out of it. Obviously I am fuming and devastated as we are in arrears with this loan and FP and being very unhelpful and threatening legal action, if we could get this PPI back it would pay off arrears and lower the payments etc. Is there any advice that you can offer as to what we can about this, is there any redress with FP for passing this company our details and them then contacting us pretending to be FP?? Even if these companies were not regulated surely they cant be allowed to treat people this way and get away scot free !! many thnaks to you all
  3. HI i have a first plus loan which was taken out just under 5 years ago. i visited their site to claim back my ppi the loan was FOR about £13k and they added the ppi loan of about 2500k. i was paying aroud £168 amonth back. they have now said that that i was misssold and are offering the following : a refund of £1680 + *% interest also the will take 250k ppi + intrest of the loan my payments will be to around 140 a month its this correct or should i get the whole of the ppi money and my payments stay the same? the £1680 is the 140 - 168 =28*12 =336*5 any help would be grateful and hope this make sense as i went through their site and not the FOS or any ppi comapny thanks in advance
  4. Hello all, I have a mortgage with Northern Rock, there is also a secured loan on the property with First Plus and Red castle have had a temporary agreement in place for last 6 months. July payment is my final payment. I do not think that i can return to the full contractual arrangement as I am on a third of the wages that i used to be. Can anyone please advise as to the steps that i should take in order to come out of this mess a little less battered than i would be if I just allowed them to do what they want. Is it worth contacting council re - mortgage rescue scheme? applying for council housing? I have contacted Northern Rock to see about changing mortgage to interest only, but they are taking forever to get back to me. All help would be most appreciated. Many thanks in advance.
  5. 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
  6. Hello guys, I have recently been made aware by a friend that as a member of the armed forces I may have been wrongly sold PPI by First Plus. I informed them at the time that I would get paid whether I was ill/injured and could not work but they advised me that I would still be able to claim should the unforeseen happen. This seemed like a good idea as it would mean I would still be paid and have my loan paid separately. My friend says that First Plus should have not offered it to a member of the armed forces as I would not be able to claim due to their many confusing rules. Can anyone confirm whether this is true? This is my second loan with First Plus and after reading the threads I am concerned that when I re-mortgaged and settled the first loan early they may have charged me the PPI for the full term in the settlement. Are they allowed to do this? I am currently looking up my re-mortgage paperwork to confirm this. Any help is greatly appreciated as I am currently close to financially breaking and feel that any compensation would help me get back on my feet. Thanks in advance for any help you can give!
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