Firstplus (elderbridge) secured loan

RuthnJasper

Now I know why I haven't visited this site in months. All the muppets making daft, unhelpful and mean-spirited comments aimed at people offering assistance and sound advice. John G Jones has been nothing but accurate, courteous and helpful. People visit these threads for genuine help. When it is given freely, those who cannot accept wisdom and help - even though it may not be what the enquirer wants to hear - should take their "wit" elsewhere.

zippygeorgeandben

It's certainly a conundrum.

SIMOED

John_G_Jones wrote: »

You would have a point if the lenders were ho,don’t a gun to anyone’s head.

The truth is people see the pounds upfront and choose not to think about what comes later, despite it being set out in black and white.

Those inability to forego pleasure now for benefit later is possibly the biggest differentiator between people who find success in life and those who don’t.

You can take two people with the same start in life and guarantee that the one who sticks in at school, takes a job at weekends to get some money, plans a career, delays having children until they can afford it and just gets their head down in works is going to end up in a very, very different place to someone who wants it all upfront, and so borrows at a high rate of interest for wants, not needs.

This is fine, it is their choice, but p,ease, less of the moaning when you and I end up in such different places.

You offer, absolutely, no constructive advice to the request for assistance whatsoever. You do not refer to or even mention any legal process that backs your moral opinion/s.

I stand by what was written previously, in that, you have no idea whatsoever on this subject matter or the amount of work that is going in to the process of correcting this mess of confusion.

Lots of people of every background have been involved in these types of loans, ironically, the regulator has "stepped in" & made such matters much more consumer friendly.

Just because you may be a big business does not mean you can flout the rules & fly close to the wind in terms of profit at consumer expense. It means, in fact, that providers have an even greater responsibility to provide clear & perfectly understood information/s. This is because they are experts & the consumer is assumed as uninformed............

The intervention & effort of regulatory authorities has been huge in this particular market because of the imbalance & issues faced by consumers. The longevity of some of the older contracts has meant that legal actions have to be brought.

Hindsight.

SIMOED

RuthnJasper wrote: »

Now I know why I haven't visited this site in months. All the muppets making daft, unhelpful and mean-spirited comments aimed at people offering assistance and sound advice. John G Jones has been nothing but accurate, courteous and helpful. People visit these threads for genuine help. When it is given freely, those who cannot accept wisdom and help - even though it may not be what the enquirer wants to hear - should take their "wit" elsewhere.

He has not been accurate, courteous nor helpful, I would appreciate your input on what I, or anybody may have missed.

This subject is not "wit" its damned serious, peoples can lose their homes & advise is poor to state the least, especially, when you read some of the comments on here.

Bermonia

If it is ‘Legal’ advice that you are after then please feel free to consult a lawyer and pay them for their time - being discourteous to people offering you their insight is quite frankly unacceptable.

Just to point out if you don’t like people’s comments or opinions then posting on a forum for people’s comments and opinions isn’t really for you now is it?

amy77

dealer_wins said:

SIMOED wrote: »

Yes, I can confirm I am an adult. The consequences of the lenders behaviour is under the microscope, the consumers have very strong argument & therefore, should complain.

Erm, no they dont lol

Funny that Firstplus have now settled 150 complaints re the interest rate variation clause!  - I wonder why.  I have myself shown the FOS proof that their advertising if this loan was total lie!  I await my settlement offer.  wedo have a very strong argument  - you clearly have no idea!

bulldogforever

amy77 said:

dealer_wins said:

SIMOED wrote: »

Yes, I can confirm I am an adult. The consequences of the lenders behaviour is under the microscope, the consumers have very strong argument & therefore, should complain.

Erm, no they dont lol

Funny that Firstplus have now settled 150 complaints re the interest rate variation clause!  - I wonder why.  I have myself shown the FOS proof that their advertising if this loan was total lie!  I await my settlement offer.  wedo have a very strong argument  - you clearly have no idea!

This issue now seems to be moving along, where does the 150 number come from, 
Also looking at Legal Beagles there seems to be some interesting development today 

bulldogforever

peter67 said:

I took around 65,000 loan in 2003, and paid over 60,000 and still my capital balance around 53,000.
They keep increasing the rate as they like, it seems like I will be paying this for entire life span.
I am asking myself, am I living in the democratic country?
No forums taking interest to resolve this problem?


Intial stage, I mean first few yrs when Bank of England rate reduced or increased, the FIRSTPLUS was reducing or increasing the rate accordingly. But since 2007, Bank of England reduced the rates so many times, but this Bank never reduced but increasing the rates?


Over one year I was asking them the reasons why you have not reduced the interest rates, they keep sending letters saying that we are working on..please bare with us.. then one letter mentioned that they have not received sufficient information from the previous owner 'FirstPlus'?


Did anyone experience this? any actions I can take? Is it worth it now to consolidate the loan, which means I need to pay another 53,000 pounds? Please give me some advices

It is fundamentally unfair and I believe that you will soon be able to get redress