have I been had or not?

edited 30 November -1 at 1:00AM in Loans
1 reply 619 views
mar1emar1e Forumite
58 Posts
edited 30 November -1 at 1:00AM in Loans
Hi everyone

We took out a secure loan from first plus in 2006. The amount borrowed was £15000 the loan also had payment protection plan which was added to the loan under the heading PPP Loan for £2989.50. Then in may 2007 we took a further advance of £5000 Im a bit sketchy about this as I cant find the second lot of paperwork so Im not sure if we then had to take out a further PPP or not. We then paid the account in full May 2008 for the grand sum of £24,435.53. I m not sure if I have been taken for a ride or if I am just badly bruised by this. So I was wondering if there is anyone out there who might be able to advise me.

For info I never missed a payment so between oct 2006 till May 2007 I paid £178.12 a month then from May 2007 £245 a month. The loan was over a period of 180 mths.

what I do know is that I will never ever take out a secured loan again

Ta very much

Marie
PAD Jan 09 = £82 feb 09 = £5
NSD Dec 08 10/10, Jan 09 10/10 Feb 09 0/10
Sealed pot #394 2009 £10.50/£500

Replies

  • di3004di3004 Forumite
    42.6K Posts
    mrssloan wrote: »
    Hi everyone

    We took out a secure loan from first plus in 2006. The amount borrowed was £15000 the loan also had payment protection plan which was added to the loan under the heading PPP Loan for £2989.50. Then in may 2007 we took a further advance of £5000 Im a bit sketchy about this as I cant find the second lot of paperwork so Im not sure if we then had to take out a further PPP or not. We then paid the account in full May 2008 for the grand sum of £24,435.53. I m not sure if I have been taken for a ride or if I am just badly bruised by this. So I was wondering if there is anyone out there who might be able to advise me.

    For info I never missed a payment so between oct 2006 till May 2007 I paid £178.12 a month then from May 2007 £245 a month. The loan was over a period of 180 mths.

    what I do know is that I will never ever take out a secured loan again

    Ta very much

    Marie


    Hi Marie
    Maybe you could take your post to the PPI Reclaiming Discussion III thread, where you may get more answers on this.

    Just click on loans and then you will see the above mentioned thread, it may be easier for you to copy and paste instead of writing your post all over again.

    Meanwhile request for a hardcopy through the post of a written breakdown of calculations on the first loan etc they should provide this for you on request.

    Also contact them to request for a copy of your agreement of the present loan, this may be free of you may be required to pay a £1 for this.;)

    They should send you your copy within 12 days of request, but ring them first to ask if there is a charge for this then put the request into writing, post by recorded delivery.

    Good luck
    Di
    The one and only "Dizzy Di" :D
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