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First Plus Secured Loan
BRIGHTHOPE
Posts: 41 Forumite
in Loans
I have a secured loan with First Plus. It's a nine year loan and I'm about 18months into it, paying just over £500 a month.
I've never had a problem meeting the payments, and I don't anticipate problems in the future, however, this month has been a really bad month financially and I'm going to be struggling to pay them. I know I need to speak to them, but I was wondering if anyone has experience of how they handle a situation when a payment is missed.
I've never had a problem meeting the payments, and I don't anticipate problems in the future, however, this month has been a really bad month financially and I'm going to be struggling to pay them. I know I need to speak to them, but I was wondering if anyone has experience of how they handle a situation when a payment is missed.
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Comments
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Well first of all, contact them as soon as possible and offer them some kind of top up on future payments. Don't forget this a secured loan and that most of us in the debt advice industry know this company only too well. Only offer what you can realistically afford. Ask for a payment holiday and stick to your guns with them. Its is a secured debt after all, soi they know that you will eventually pay it.0
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Might it not be easier to ask your bank for a temporary overdraft to let your Firstplus payment go through as normal?0
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