FirstPlus interest rates - again

livylegs

hi there, I would also like to join this campaign against First Plus,
I took out a loan around December 2006 for £23,000 and PPI of £4,583 its over about 20 years aswell as FP Guy said it was best to take it over longer period so monthly payments would be lower, I started on a 8.9% variable rate however my rate has steadly risen as has my monthly payment!! I didnt know that they decided if they wanted to change your rate as that how it seems to me like its there choice! I am going to see what my monthly payment is now i think Its around £260 a month so maybes not gone up loads however it still has risen and will probs continue to rise! I will try to find out what my rate is up to aswell,
I also rang them today and was fobbed off by a FB guy who told me they have no plans to lower my rate and they dont have to follow the BOE base rate.

i also feel I was missold PPI I was under the impression that the loan would be declined unless i took PPI? so I am gonna take am alook at the posts about claiming it back,

Just shows you when you not sure about loans and stuff like me lol you get your eyes took out and they come back for the sockets!

livylegs

hi there, I would also like to join this campaign against First Plus,
I took out a loan around December 2006 for £23,000 and PPI of £4,583 its over about 20 years aswell as FP Guy said it was best to take it over longer period so monthly payments would be lower, I started on a 8.9% variable rate however my rate has steadly risen as has my monthly payment!! I didnt know that they decided if they wanted to change your rate as that how it seems to me like its there choice! I am going to see what my monthly payment is now i think Its around £260 a month so maybes not gone up loads however it still has risen and will probs continue to rise! I will try to find out what my rate is up to aswell,
I also rang them today and was fobbed off by a FB guy who told me they have no plans to lower my rate and they dont have to follow the BOE base rate.

i also feel I was missold PPI I was under the impression that the loan would be declined unless i took PPI? so I am gonna take am alook at the posts about claiming it back,

Just shows you when you not sure about loans and stuff like me lol you get your eyes took out and they come back for the sockets!

golf18

himnme wrote: »

Top tip to all fellow FirstPlus-Vorderman-Pension-Subsidisers.....

Write to your MP.... and get him/her to take up Barclays loan shark activities with Messrs Darling and Brown. A little air time in the House Of Commons should help Barclays see the error of their ways and get reasonable with their interest rates.

You can find out how to contact your MP via this link http://www.writetothem.com/ - just pop in your postcode, pick your MP

I have contacted my MP and pointed him to this web site :T he is a high up labour MP I mentioned that the government should ask why no reduction in rates when banks are being underwritten by government

so see if I get a reply!:money:

himnme

Join us at Firstplus Customers Unite! Network

Share your news, views and gripes ..... plus up to date rate information on Barclays with daily news updates

sbillingham

Can I say that this interest rate rise issue is not unique to First Plus, got the same problem with G E Money.

Credit-Crunched

sbillingham wrote: »

Can I say that this interest rate rise issue is not unique to First Plus, got the same problem with G E Money.

Its all these people claiming back their PPI it is, these banks need to make money some how!! lol

sbillingham

Credit-Crunched wrote: »

Its all these people claiming back their PPI it is, these banks need to make money some how!! lol

and that's funny because.............

Credit-Crunched

sbillingham wrote: »

and that's funny because.............

its ironic being on a claim back website. Relax a little!

sbillingham

Credit-Crunched wrote: »

its ironic being on a claim back website. Relax a little!

I have no idea what you are getting at!!

vivaladiva

This interest rate problem is far from unique to First Plus, GE Finance (was First National) charge in the same way. Yesterday, was the first time I became aware of how these interest rates are charged/calculated. If I want an SAR do I contact the loan company, the broker or both?