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In 2006 we paid off the bulk of the debt of about £60,000 leaving us with a £5700 shortfall. We have been paying £70 every month ever since as the original contract runs until 2019. If we over pay Firstplus send us a refund overpayment cheque so the interest stays the same. If we cash the cheque and then pay it back into Firstplus, they simply issue another cheque. If we save up and pay in £500 or more, a few weeks later we get a refund cheque again for £500!
We have up to now paid approximately £7630 on this debt and Firstplus will not allow us to make overpayments as this is in one of the clauses of the T & Cs in the agreement. Could this be deemed an Unfair clause or as the debt was over £20,000 it does not count? Paying in £70 until Nov 2019 means we will have paid in over £11,400 on a £5700 debt.
We would like to make over payments to clear this debt as this is the only debt we have. I am scared of challenging them and they probably know this as we do not want to rack up solicitors fees or trash my credit rating. As the amount is under £10000 can it be challenged in the Small Claims court as Firstplus have had their bread, butter and jam!
Is there anything we can do to stop this ridiculous situation of not being able to make overpayments? Getting desperate. Thanks.
We have up to now paid approximately £7630 on this debt and Firstplus will not allow us to make overpayments as this is in one of the clauses of the T & Cs in the agreement. Could this be deemed an Unfair clause or as the debt was over £20,000 it does not count? Paying in £70 until Nov 2019 means we will have paid in over £11,400 on a £5700 debt.
We would like to make over payments to clear this debt as this is the only debt we have. I am scared of challenging them and they probably know this as we do not want to rack up solicitors fees or trash my credit rating. As the amount is under £10000 can it be challenged in the Small Claims court as Firstplus have had their bread, butter and jam!
Is there anything we can do to stop this ridiculous situation of not being able to make overpayments? Getting desperate. Thanks.
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