Hi, my woes with First Plus are just not ending. The latest: I was sent a letter earlier this year my newish loan holder Elderbridge saying my outstanding balance was around £10,000. Today, I spoke to them and doublechecked on the outstanding balance - and they said it was more than £24,000! When I asked for an explanation, they explained that First Plus had apparently put arrears (I've been behind on payments a few times since I took out the loan in 2005) into a separate pot "to help customer clear the arrears faster", but this pot has accrued nearly £15,000 worth of interest.
What the hell? Is this legal? What is going on? Please help!
Many thanks!
What the hell? Is this legal? What is going on? Please help!
Many thanks!