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Totally gobsmacked with Firstplus payments

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In November 2004 we took out a loan for £53300. We sold in February 2006 and repaid £48411. There was still an outstanding balance of £5773. We have been paying approximately £70 per month since then to pay off the balance. Adding up our all our credits to date shows we have paid a staggering £87887. That is Eighty seven thousand and eight hundred and eighty seven pounds! We still owe about £4400 to settle the account! On the outstanding balance alone we have paid £5168!

I wish there was some way we could get rid of this debt. The last payment is due in November 2019 6 years after we are on state pension! Surely some mis-selling going on because as pensioners how would be have been able to afford a repayment of nearly £600 per month?

Edited by Surfer01
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Nothing surprises me with Barclays First plus, there is the clue in the name, BARCLAYS, now with the LIBOR fixing [problem] this company is going to get hammered, keep your eyes peeled have a look on the First plus forum this is disgruntled First plus borrowers they are looking into legal action against Barclays for the fixing scheme.


I had a first plus loan, but after my marriage breakdown I just handed the keys back to the 1st chargee and walked, told First Plus they could whistle for there money, I have my BR money saved and have never been so well off in a way, I have paid my unsecured creditors who managed to supply a valid CCA and kept the account a small sum, ( not many could comply ) so from spending £1,130 on a house and £640 + outgoings on debt and working everyday God sent I am now down to a nice rent and £40 payment towards the few creditors who could comply. I have me two days off and my health is much improved. NEVER AGAIN WILL I GO INTO DEBT FOR ANYTHING. I am in my mid-fifties now and yes I was silly, took massive debt on mainly for my self employed business I had. I have been since 2012 such a happy bunny now, not rich at all but at least I have food money and utility money without having to rob some other. I push bike to work.


I would certainly take a long hard look at your contract and if it were me I would tell FP to jog on, but that is entirely up to you.


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I would SAR them to see if they have added any late payment fees or other charges you could claim back

HTH (Hope This Helps) RDM2006





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I would SAR them to see if they have added any late payment fees or other charges you could claim back

There are 3 bounced DD charges amounting to about £75 but hey ho that is my money!

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