F&Fsecured loan with Elderbridge - coerced debt and selling house

[dx100uk]

i bet its a discount offer

 

reply stating that have been clearly advised by CAB not to use the phone

 

i'm gonna stick my neck out here.....

 

can you get your CRA file from noddle please [see below]

i bet RC dont own the debt FP do.

 

then

 

as you've never had any statements, and you've been late/under paing

i suspect there are lots of PENALTY charges

 

i'd do two things

 

get an SAR off to FP ASAP.

 

and email back redcasstle with the above.

 

add to it

 

that having been to CAB,

i am now going to pay FP directly, rathher than through yourselves.

[Myfamily]

Hi DX, Sorry about the delay.

 

Yes I checked Noddle and it still appears as FP, but I think RC are just collecting on behalf of them, as they say "client" in their e-mail.

 

I will do a SAR to FP today and let RC know that I will be paying FP direct but do you think I should still send an offer letter of the £500 to FP as well.

[dx100uk]

i wouldnt offer

 

i'd just pay shows goodwill.

[Myfamily]

But don't I have to show my income and expenses and explain why I can't make the full payment?

Can I use the letter in the debt collection library (letter B)? sorry for all the questions, I just want to make sure I do everything I should do, I just want to hang on to our home and ride the storm!

Another interesting thing happened yesterday, I suddenly got a call from First plus on landline and mobile, I ignored both but checked the number on Who Calls Me. SO must mean that First plus have not "sold it" as it states the same on Noddle.

Just want to ask my last question again then,

Can I use letter B in the debt collection library or is there a better one and should I send Income and Expenses?

Also I had a look for the SAR doc to send but the one's I've seen are alot more detailed than the template I found in the library, is that the correct one?

Any help/ideas greatly appreciated.

[dx100uk]

use our sar

 

as for letter b

 

i cant see the point really, neither in sending an i/e

 

you've explained several times you are in financial hardship

 

they should be helping you not making life difficult

 

dx

[sequenci]

They will want to see a budget sheet to affirm that the OP is actually in financial difficulties, by checking the figures they've listed within their outgoings.

Only by doing this would there be a fair shout at trying to suspend further action being taken.

Since this is secured borrowing we have a very serious risk of repossession action being brought.

So, where we are talking about a priority debt - like this one, I think sending in an I/E sheet would be of paramount importance.

[Myfamily]

Thanks Guys,

 

Sequenci - I was using Letter b as a template and have done the I & E on an excel spreadsheet, I will be reducing all other debts to £1 per months except the charging order which is £30 per month. In letter B I have stated that our incomes have decreased significantly we both come under civil servents etc which have had drastic cuts! I have pointed out what I have left and that I can afford £500 per month and I have asked them to freeze interest - do you think this will be o.k?

 

Dx - Yes I have explained soo many times that I'm really trying but yeah, they're not helping very much.

 

 

I also had another call from a PPI claims company again saying that they think I have PPI on the first plus loan, I have checked my paper work but I have a nagging suspicion about it because people have said it's been added afterwards, so that's why I'm sending a SAR off too. I hope it's not going to annoy them and they don't agree my payment plan but I think it's also strange that they haven't sent me any statements since we started - isn't it?

[dx100uk]

tya its so diff to judge

 

its really wrong that you keep having to oint out and prove hardship, abd they just dont listen

 

that sar is a wonderful idea

might throw up something useful

 

its also a good idea to obv stay clear of reclaim co's too!

 

we'll help easy

 

ofcourse dont for get your other debts too

 

i dont think you've listed them yet

 

but i bet lots are candidates for penalty charges reclaiming or ppi too

 

i made almost £10k in recent years

and am not too far removed from your worries./ situation.

 

though i dont envy you having FP

 

they really do seem so set on not helping.

 

dx

[sequenci]

Agree with DX here, should it go down the legal route if you can prove to the court that you're investigating all avenues to try and prioritise the secured loan they should look at the situation favourably. And at the very least give you time to get everything sorted. The key problem is that unless yo ucan demonstrate that in the long term you can pay the loan plus a little extra - to start reducing the arrears the court may ultimately allow possession to the lender. Hence why it's vital to try and look at sending that SAR etc.

[Surfer01]

Do not use any PPI company to claim back PPI as you can do it yourself and for free.

Many CAG members will be able to offer good advice on that aspect.

We never took up the PPI offer with FP as it added on another £130.

They did try on several occasions for us to agree.

[sequenci]

Oh yeah, we'll see you right re: PPI no probs at all.

[Myfamily]

Thanks so much guys,

 

I have completed my SAR to FP and letter asking for a reduced payment plan for a while and have done I & E's for them. I think I will take you up on your kind offer of help for PPI but first I will have to dig out all our other creditors details and send SAR to all of them to check for PPI and penalty charges I think.

 

I have one more question, I had first credit on me for another debt, I sent them a CCA request and they sent back random statements (with whole chunks of time missing and not bakc to the beginning as far as I could see) and a copy of my application form (not agreement). I haven't heard from them since stopping payment ot them, Cabot popped up but I ignored them and again nothing since, should I SAR the OC for this one too (Marbles - I have another thread on it in case you want more details) because of the statements they did send I noticed that they have charged me some £12 overlimit and late fees - what do you think? Do you think it's wise to rock the boat here?

[slick132]

It really depends on how the value of penalty charges and any compound interest compares with the balance due on the a/c.

 

If the penalties and in't are low compared to the a/c balance, it may be best to let the sleeping dog lie, by not rocking the boat !! LoL

 

The only problem is that you're unlikely to get data beyond 6 years from whenever you send a SAR.

 

Send it now and you'll get data from Nov'r 2006 onwards.

 

Send it in 6 months time and you'd only get data from May 2007 onwards.

 

It really depends on when you think there may have been charges. If claiming compound interest, an older charge of £12 could give an interest figure on several times the charge itself.

 

[Myfamily]

Hi All,

 

Well I have recieved a reply from First Plus, basically saying that they have noted the contents of my letter to them but my account has been passed to Gothia so I need to contact them to dicuss further and possibly set up an arrangement.

 

My Credit report says that First Plus still own thie debt.

 

Any thoughts on this???

[Happyhippy1959]

I had the same problem with these guy's, had a second charge with first plus, split with the wife in 2009 and stayed in the house on me own paying over £1k on the mortgage and First Plus.

 

This year I decided to go and rent a house and let the mortgage company repossess the house, First Plus are hard nosed, they will increase and increase your interest rate and in the end I see no way out.

 

I know my house will just meet the mortgage payment ( just about ) I have had Gothia on me case but told them to sod off as it was a secured loan at present go and repossess and stop telling silly stories of doom and gloom.

 

I really feel sorry for you dealing with Barclays First Plus, they lie and lie and have no sympathy with you at all. It could be worth having a plan B in place ( ie sell house ??? or leave it and rent and let what be will be... The laughable thing is now I don't give a damn, most of my unsecured debts are un-enforceable and as for Barclays First Plus, they will get an offer from me even if it is only £10 a month, go to court do your worst, I have nothing you can have nothing. I made myself very ill till I came to this site, I now love dealing with DCA's and there childish threats.

 

I wish you luck and will follow your case with interest, I hate FP with a vengeance

 

OH AND BY THE WAY, I NEVER EVER DEALT WITH GOTHIA OR RED, YOU TELL FIRST PLUS THEY OWN THE DEBT YOU DEAL WITH THEM, THEY WILL COME ROUND.

[slick132]

Hi MF,

 

You could reply to First Plus saying you note their comments and await their reply to your SAR, to which they have xx days remaining to reply.

 

[Myfamily]

haha Slick, I like that one.

 

But I havent'a actually sent the SAR yet, I wanted to get a payment agreement first as I thought it might be best to do that first before I get them annoyed with a SAR - was I wrong to do that?

 

I have just re-sent the offer letter to First plus to Gothia now.

[slick132]

An SAR should not annoy anyone but it may show that you're to be taken seriously with regard to the handling of your affairs.

 

I would send the SAR now, regardless.

 

[Myfamily]

Ok then, I will get it sent of this week.

Thanks Slick!

Just wondered what you all thought of this.

I was going through some paperwork and found a letter from first plus, dated Jan 2008.

It reads

" 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 interest rate increase in July 2007, there have been further change to the Finance House Base Rate. We will now be changing your rate. Please refer to the term + conditions on your credit agreement and the enclosed FAQ for more information.

What does this mean for you?

Your rate will increase by 0.3%. This will come into affect from January 2008 (only 6 days after the latter was dated) . Your interest rate will now change from 11% to 11.3% per annum"

And it goes on to tell me that I don't have to do anything and they will change my DD for me.

But my question is......

Does this not show that they are somehow taking into account the BOE rate and/or the FHBR rate - when it suits them in order to increase but are ignoring these rates when there is a decrease?

Does this not show that they are treating us unfairly??

Would love to hear what you think!

[Surfer01]

That is a very good letter and demonstrates that they are being unfair.

 

I think it would be very strong ammunition in any court case and could be the proof what a number of people have been looking for regarding FP interest rates.

 

That is what we were verbally told when we took out our loan and it is probably worth challenging them regarding this letter

as it implies that the interest rate is linked to BOE & Finance House Base Rate (FHBR) as they are acting unfairly.

 

However I am not sure whether the Unfair terms Act etc would apply in this case because of the size of the loan being over £25,000

so probably need to pursue in on a breach of contract depending on the clauses in the T & Cs.

[Myfamily]

Hi Surfer,

 

I will keep the letter then in case needed later.

 

Bit worried and confused now.

 

I wrote to First plus with my offer of payment and they told me that Gothia are dealing with my account and so would need to speak to them regading a repayment plan,

 

so I have sent the same offer to Gothia yesterday

(so they won't have received it yet) but this morning,

 

I have just received a Default Notice form Frist Plus.

 

They want me to pay the arrears (which i do not have!) by 02/12/2012.

 

I am confused because they seem to be still dealing with my account but ignoring my offer letter, If Gothia accept my offer what happens with this default??

 

Please help!

Edited November 15, 2012 by Myfamily

[Surfer01]

My advice would be not to communicate with Gothia as you are disputing the account reference interest charges etc.

Gothia are a DCA by the sounds of it.

Leave them out of the loop entirely and communicate directly with FP.

The only communication you send them is to tell them to hand back the account as it is in dispute.

If FP do not want to communicate with you and it went to court, they would look a bit foolish.

[Myfamily]

But I haven't disputed anything yet, I'm sending the SAR off this week (no money to do so before today!)

and I haven't ever said to First Plus that the way they increase their interest rates is unfair (although I believe it is) I just want to pay what I can afford to pay at the moment.

 

My letter to Gothia making an offer has already gone so it's too late not to communicate with them.

 

I tried to communicate with First Plus they told me to contact Gothia, I just don't know what to do anymore - I have gone into a bit of a panic now!

 

I was trying to keep contact with them as I know it's worse if you ty and ignore it but they're both confusing me,

 

I want to pay someone as much as I can! but I don't know what to do.

 

Sorry I'm waffling a bit now, panicking!!!

[Surfer01]

It is never too late to send Gothia packing.

Your contract is with FP and you will be disputing the fees.

We do not have a DD or SO with FP and pay them direct at any time of the month when we feel like paying them as long as it is by the "due date".

On many occasions we overpay them and this gives them a headache with interest.

Our repayment is only £70 so I appreciate that you may not be able to overpay etc,

but there is nothing stopping you paying £xx per week every week if it is easier.

[Myfamily]

ok, i'm sending the SAR off then, but I want to make a payment to someone, Can I get FPs' bank details from somewhere?

 

I'm worried because this is all going to take longer than the 2/12/2012 to get going and I know that things can happen quickly with these people. I feel that they're being unreasonable, I've paid for 6 years without fail, my payments went up and I kept paying .

 

They've earn't a lot out of me already and I'm asking for help, just seems like they don't care, I still have 18 years left, and They would still be earning out of me if I carried on paying £500 per month for the rest of the term, as it is I am 99% certain that this is a temporary financial problem we're having, but it seems that they don't want to listen.

 

Sorry I'm going on again! but I'm so panicked by this now!

 

Should I wait for the SAR to come back and then query the interest, I'm just worried that I'm going to get a whole heap of paperwork that will not make any sense to me!