First Plus interest rates!

cocker100

Anyone haerd any news regarding the super complaint against First Plus?

All discussions online on it seem to dry up around the middle of last year.

cocker100

So the wait continues to hear from the FOS for a final decision on this, however the recent Libor scandal involving Barclays, owner of First Plus only adds fuel to our conplaint.

They've now been found guilty of rigging the interest rate they claimed they were being charged for their own borrowing, and hence one of the reasons they gave for not lowering our interest rate. I have it in writing that the inter-bank Libor rate was a factor in setting the interest rate on the loan.

Now today we hear that a criminal case may be sought to bring them all to account. Yet in their t's and c's (the same ones in which they keep harping on about why they can use condition 6 to set any rate they like), they agree to act within the laws of the UK. Clearly if found guilty, they have not acted within the law.

The result of this?

Breach of contract on their part, resulting (in my opinion), in the agreement becoming null and void.

If these criminal charges are indeed brought and are successful, I will be insrutucting a solicitor to have this account written off and all monies already paid refunded plus statutory interest of 8% added on top.

This has the potential of being much bigger than ppi has ever been.

Happy days,

Cocker:)

bankhater_1965

cocker100 wrote: »

So the wait continues to hear from the FOS for a final decision on this, however the recent Libor scandal involving Barclays, owner of First Plus only adds fuel to our conplaint.

They've now been found guilty of rigging the interest rate they claimed they were being charged for their own borrowing, and hence one of the reasons they gave for not lowering our interest rate. I have it in writing that the inter-bank Libor rate was a factor in setting the interest rate on the loan.

Now today we hear that a criminal case may be sought to bring them all to account. Yet in their t's and c's (the same ones in which they keep harping on about why they can use condition 6 to set any rate they like), they agree to act within the laws of the UK. Clearly if found guilty, they have not acted within the law.

The result of this?

Breach of contract on their part, resulting (in my opinion), in the agreement becoming null and void.

If these criminal charges are indeed brought and are successful, I will be insrutucting a solicitor to have this account written off and all monies already paid refunded plus statutory interest of 8% added on top.

This has the potential of being much bigger than ppi has ever been.

Happy days,

Cocker:)

wouldnt you just love to see the callapse of the english banks , the bankers would be suicidal , what a lovely thought

cocker100

bankhater_1965 wrote: »

wouldnt you just love to see the callapse of the english banks , the bankers would be suicidal , what a lovely thought

Depending on the outcome from the investigations into the other banks, coupled with the ongoing Eurozone crisis, which WILL eventually collaspe, I can see this happening.

At very best there will be a major restructuring of the UK Banking system with several banks being allowed to fold!!!:eek::eek::eek:

Cocker:)

bankhater_1965

cocker100 wrote: »

Depending on the outcome from the investigations into the other banks, coupled with the ongoing Eurozone crisis, which WILL eventually collaspe, I can see this happening.

At very best there will be a major restructuring of the UK Banking system with several banks being allowed to fold!!!:eek::eek::eek:

Cocker:)

fingers crossed :rotfl::rotfl:

ILW

cocker100 wrote: »

Depending on the outcome from the investigations into the other banks, coupled with the ongoing Eurozone crisis, which WILL eventually collaspe, I can see this happening.

At very best there will be a major restructuring of the UK Banking system with several banks being allowed to fold!!!:eek::eek::eek:

Cocker:)

So you are looking forward to the collapse of the Eurozone (with the misery that could cause) so you can wiggle out of repaying some money you borrowed.

Pathetic.

cocker100

ILW wrote: »

So you are looking forward to the collapse of the Eurozone (with the misery that could cause) so you can wiggle out of repaying some money you borrowed.

Pathetic.

Please explain where I have previously said that I am looking forward to the collapse of the Eurozone?

I was merely speculating on the future.

Bankers have caused the misery that this will bring so dont blame me.

Oh, and I have already paid back more than I origianlly borrowed to First Plus, so I am not trying to wiggle out of anything. If the banks weren't full of conmen trying to fleece the general public, then we wouldn't be in this situation in the first place, would we?

Misleading credit agreement terms and conditions, deliberate rigging of interest rates, misselling of ppi products, selling dodgy insurance to small businesses...........

Need I go on any more?

bigadaj

Just remember if large banks do fail then the primary losers will be Joe public, the bankers will nip next door to a job that a mate gas got for them, and the equity in average people's pensions and isas will be wiped out.

cocker100

The problem here is that we are living with an unsustainable banking system which is only going one way.

No amount of austerity measures will turn this around. Just look at Greece, they introduced massive changes to try and solve the crisis, but for what? Delaying the obvious outcome....Defaulting.

The Government and the Bank of England are pumping more money into the economy every other month, yet we are not seeing any improvements. Economic forecasts are continuously being altered and the tunnel seems to get longer and longer with no end in sight.

bankhater_1965

ILW wrote: »

So you are looking forward to the collapse of the Eurozone (with the misery that could cause) so you can wiggle out of repaying some money you borrowed.

Pathetic.

i think the point is the damm hatred towards the banks, not so much the eurozone but just the english banks, they have taken the english public for a ride to fuel there greed, they are horrid people and the public hate them , the banks are the bankers, they all should be stripped of all ther bonus and hopefully feel suicidle and jump off tall buildings one by one whilst we all clap for good ridence , they have caused misery and nothing else , good ridence to the lot
and to think that keeping the eurozone will improve the financail situation is just absurd, and if it means getting out of paying money through it yes i am all for it , the english people are owed it