First Plus help viki79

Myself and my now ex took out a loan with first plus of 60k back in 2006. Since then we have parted ways and i stayed in the house for kids benefit really. I contacted both mortage company and first plus for help. My mortage company was very helpful but first plus was NOT. I carried on making all payments best i could till 2013 as i ran into financial difficulty. First plus again offered no help at all. I went got advice and was left with 2 options either repossesion or a mortage scheme. So i opted for the mortage rescue option and was happy it all went through. This was completed back in october 2013. Today i recieve a phone call from first plus saying that i have to start making payments of £473 even though the amount i pay at moment is £119. After explaining that i sold my house as i couldnt afford those payments i was basically told tough they could offer no further help and i would have to seek legal help. I then realised £473 over 119 months which is what they want is over 56k back. Im frustrated as i know a easy option would be bankrupcy as i been told this by citizens advice however i am due to start uni in september and im worried i wont get the financial help i need. Can anyone please help?

When i applied for the mortage rescue we had to do a shortfall application to first plus. This was agreed after a long period of time and they agreed a repayment amount to be reviewed every 6 months to see my situation NOT after 6 months force me back into the position i started at. The settlement figure was around 53,000 if i remember correctly and they recieved just under 40,000 from sale of house leaving a remaining 13,000 i know some interest will be added but 43,000 seems a bit steep to me. However after doing alot of research into first plus it appears to be the norm which is very frustrating. Im at a loss as to what to do.

I have the original paperwork from 2006. The only letter ive had through the sale of the house is very basic telling me what my payments will be for 6 months and how to pay them the proceeds of the sale of house. Most contact with first plus appears to be via phone.

No it never said anything about what happened after 6 months. No shockingly i aint recieved any paperwork from first plus. Infact over the time ive had the loan ive only ever recieved payment increase letters.

You need to take the paperwork to Citizen Advice, if you only owed them £13k after partial repayment, I can't believe you still owe them £53K.

Please get the terms and conditions checked.


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