Elderbridge (First Plus) Rate Review

sueh6

Hi Everyone

Just looking for a little advice here.

We've had a FP loan since 2008 which was bought by Elderbudge at the beginning of this year. It has around 12 months to run and is in good standing with no late payments or missed payments.

I had a letter yesterday saying that after a rate review they are reducing the rate of interest by 0.5% however my payments are increasing by £4.20 per month. I rang them yesterday and after being on hold for a very long time was advised by a lady that the additional payment was due to arrears on the account. When I advised her that there weren't any she said that she couldn't help me as she was simply an overflow line and she would have to arrange a callback.

My concern is that if Elderbridge advise that the arrears were part of the FP loan how can I challenge that as FP no longer exist?

Apologies for the ramble - any advice appreciated.

Sue

Richey_

Maybe worth checking credit reference companies, I'd start with Noddle and Clearscore as free and if the loan is on neither I would check Experian either on the 30 day free trial or pay £2 for the statutory report. This should give you an idea if there has ever been a late or missed payment marker, this would be then something you would have in writing to challenge this company if you need to.
Good luck, hope it gets sorted

sueh6

Good idea - thanks!

I've checked my Noddle report and data goes back to Nov 2010 with all payments OK and up to date so at least I can use that with only 2 years missing.

Thanks again 😊