First Plus help viki79

#1
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?

#3
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.

#5
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.

#7
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.

#8
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.



AMD

Who is online

Users browsing this forum: No registered users and 1 guest

cron