We made a fateful visit to our bank in April 2005, a month after the birth of our daughter to see if we could take out a loan to cover our unsecured debts. We were offered PPI at the time but told them we didn’t need it as had personal arrangements in place. “Well, don’t worry about that…I’d still recommend you take this out as if you don’t need it, you get your money back in 5 years so it’s a bit like a savings plan really!” And that was it! We were suckered as easily as that…and we are intelligent people who thought we’d asked all appropriate questions! Just goes to show!

3 1/2 years into the loan we were getting more and more frustrated at the rate on our loan going up despite what was happening in the economy as a whole and started to look on the internet to see if there was anyone else in the same boat. It was then we realised (thanks to the Firstplus Complaints website) the full extent of what we’d got ourselves into including the fact that the ‘savings plan’ was in fact adding thousands to the cost of our loan and our total debt and we quickly compiled our first letter to Barclays Firstplus in February of this year. Four letters and a whole lot of nonsense and frustration later, we contacted the FOS.  The adjudicator was excellent and not only found in our favour, but raised a whole heap of other issues to the one’s we had raised as to why we should never have been sold this policy.

Barclays have responded to say that they don’t agree with the adjudicator’s findings so will not pay the £200 compensation he awarded, but as a goodwill gesture (well gee thanks!) they will refund what we’ve paid and put us in the position as if the loan had never been taken out.  Frankly we find that disgusting, that despite overwhelming evidence they acted wrongly they still find it impossible to accept any liability for what they have done.  We told the adjudicator as such and so it has now been escalated to an Ombudsman.  It’s not about the compensation…it’s about recognition that what they did to us and countless others was immoral and wrong! I am confident that they will be held to account for their actions and would encourage others to stand up for themselves against what has essentially been corporate greed.