Barclays First Plus Loans interest rates

amersall

gethro, hang in there, see what FP come back with.
It took me 12 years to get mine back, it was time barred more than once, I got there in the end and it was worth the wait let me tell you.
You won't wait a fraction of that

daddycraig

daddycraig said:

amersall said:

It's the August letter anyway that will get the responses for you.
You did send to FOS as well?.
Jog my memory here, what was the reason you gave re interest rates in August ?
You didn't make a complaint in September did you, you chased your August complaint up in September.
They are useless 😒 

I did not send to FOS for now as they have responded within a few weeks to my email complaint. I've only ever registered the one complaint to which I have had all these responses.

Do you think I should send to FOS too?

I received an email from FOS, they will now contact Firstplus to access our records etc and have provided a reference number. So this means the ball is now rolling and FOS have started their investigations.

FOS have stated that an investigator will contact us for our side of the story. Is there anything specific or buzzwords to use or shall I just mention what other forum members have suggested in this thread?

Thank you. 

amersall

Just use what has been suggested on here, keep it simple.
At least you are a step further now.
Fingers crossed and, update ASAP 😊

daddycraig

Hey everybody,

Has anybody been in a similar situation to me where the FOS has looked in to complaint with Firstplus despite having the debt settled more than 6 years ago?

Thank you.

gethro

gethro said:

amersall said:

Give them to the end of next week if you have heard nothing by then, Give Elderbridge a call see what they say and if your not happy, let FOS know 

Been in contact with the FOS to let them know it's been 10 weeks since this complaint was sent to First plus and I've had no reply from them , been trying to find a Barclays email address to point out they haven't replied to my complaint but no joy !!
FOS have emailed me saying
 " I’m getting in touch to say that I’m sorry we’ve not started to investigate your complaint yet. We’re currently very busy, with lots of customers needing our help at the moment. That means it could still be some time before one of our case handlers gets in touch with you. I’m very sorry for this delay, but can assure you your complaint hasn’t been forgotten."
So still waiting 

Keep getting emails from FOS saying " I’m very sorry you’re still waiting for a case handler to investigate your complaint. I can assure you we’re doing everything we can to try and get to your case as soon as possible. A case handler will be in touch just as soon as we have one available. " got 13 more payments until it is payed off , I was hoping to get it written off but it doesn't look like that will happen any time soon !!

amersall

Let them do their job, your getting updates that's the main thing,  fingers crossed 🤞 

Wildslug2025

Hi, I'm about to submit an initial complaint into Elderbridge. I just wish I had come across this topic earlier.
There is one matter I would like to check on and any advice would be very gratefully received...


I have a regular mortgage on my house as well as the Elderbridge secured loan.
I am just about to remortgage with another lender and as part of the process they will clear the Elderbridge loan so they have sole charge on the property.

Will this is anyway affect my complaint against them? I.e. I submit a complaint re being unfairly overcharged because of the interest rate clause, then subsequently settle the outstanding amount?
I'm not entirely clear on the "time barred" aspect of these claims. Will settling the loan adversely affect this versus me not settling the loan and waiting for any complaint to be resolved?

Unfortunately I have checked and there is no way out of the new mortgage provider settling the Elderbridge loan as part the remortgage process.
Also I cannot postpone this to await any outcome re the complaint as it seems a lengthy process.


FYI I called Elderbridge to get my loan details - as below.

Initial provider FirstPlus, changed to Elderbridge 2016

Date: 2005 Amount: £22,500 Term: 25yrs/300mths

Settlement as of today: £11,100

I have 69 monthly payments remaining. I have paid back £48,428 so far, if i add the settlement to this total repaid will be almost £60,000...


Many Thanks

ManyWays

Will this is anyway affect my complaint against them? I.e. I submit a complaint re being unfairly overcharged because of the interest rate clause, then subsequently settle the outstanding amount?
Your complaint was about previous poor decisions by the creditor so I dont think that settling the balance with more borrowing will affect the Financial Ombudsmans decision on your complaint. Indeed there is a general legal principle that you should try to minimise your losses, so you would be acting in accordance with that.

I'm not entirely clear on the "time barred" aspect of these claims. Will settling the loan adversely affect this versus me not settling the loan and waiting for any complaint to be resolved?
If the complaint is already with the Financial Ombudsman, any decisions on time barring are taken with reference to the date of the complaint, not anything you do afterwards. 

amersall

Do not put unfairly overcharged.
Keep it simple. 
You believe you have over paid interest on the life of this loan and would they look at this 

Wildslug2025

ManyWays said:

Will this is anyway affect my complaint against them? I.e. I submit a complaint re being unfairly overcharged because of the interest rate clause, then subsequently settle the outstanding amount?
Your complaint was about previous poor decisions by the creditor so I dont think that settling the balance with more borrowing will affect the Financial Ombudsmans decision on your complaint. Indeed there is a general legal principle that you should try to minimise your losses, so you would be acting in accordance with that.

I'm not entirely clear on the "time barred" aspect of these claims. Will settling the loan adversely affect this versus me not settling the loan and waiting for any complaint to be resolved?
If the complaint is already with the Financial Ombudsman, any decisions on time barring are taken with reference to the date of the complaint, not anything you do afterwards. 

Hi ManyWays, thanks for the response.

Understood on the "time barred" now - my complaint is not with the FOS yet as I have only just submitted initial complaint to Elderbridge, and will wait for the response or 8 weeks before contacting them.