first plus final payment error

[limpingalong]

Hi- this is my first posting. Has anyone had a similar problem with First Plus- my last payment to them 2 days ago is annotated on my bank statement as being the Final Payment and I can see that the direct debit agreement now reads 'expired'. But I have another 6 years to go until the loan is paid off. I've sent them an email telling them about the error and informing them that if they don't reinstate the direct debit before the next payment is due I will contact the FSA. I have a nasty suspicion that this is a ploy to put me in default. Should I print off a direct debit mandate and send it to them anyway?

Also when I applied for the loan I asked to borrow £25,000 but the agreement came back as £25,001. I didn't query it at the time(so stupid- I have learnt better the hard way!)because I desperately wanted it to go through but I now know that in going over £25k the loan is unregulated. Would they have phone transcripts of my original conversation to prove that I asked for £25k? is this mis-selling or just my own stupidity biting me on the bum?

[mikeymack2002]

Welcome to CAG others will be along shortly to advise. But being a w/e it maybe a day or two before you get a fuller reply

 

 

Do you have a copy of the original agreement? If not you will need to send off a CCA request letter for it. See the link below..

http://www.consumeractiongroup.co.uk/forum/showthread.php?387435-CCA-Request-Consumer-Credit-Act-1974-**Updated-January-2015**

 

 

Include a blank postal order for £1-00 do not sign the letter use a different method or print your name.. Has your address changed since taking out the loan at all?

[limpingalong]

Hi Mikeymack

Thanks for the reply. I have got a copy of the original agreement which was signed on 9/8/06 and clearly states the duration and number of payments as being 180. So the final payment will be in 2021. Now call me cynical but I don't think this is just a genuine error but rather a ploy to make me default and force me into early repayment or repossession. I did Google the situation and found one other person to whom this had happened. He assumed he had paid off the loan and did nothing until they sent a default notice 4 months later. First Plus didn't reply to his letters. There was no follow up to the thread (I can't even find the site again) so I don't know the outcome.

First Plus haven't yet replied to my email sent on Saturday and I missed the opportunity to phone them this evening not realising they only operated until 5pm. I did put in my email that I would resend the message every day until they replied. I will print off the direct debit mandate on their website and send that as a pre-emptive strike.

By the way I did successfully claim mis-sold PPI for the same loan so perhaps this is tit for tat.

What should I do next?

[mikeymack2002]

Make sure the payments are always up to date if the DD has been cancelled in error then make sure it is put back in place and or make payments via another method. Have you still got the full terms and conditions? If so keep these and the original agreement in a safe place for future needs..

[mikeymack2002]

A formal letter asking them why they cancelled the DD before they should have may show up an error in their banking system. Or this was an genuine input error, it does happen, but I would keep an eye on this until the agreement ends properly...