Barclays First Plus Loans interest rates

Wildslug2025

amersall said:

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 

Thanks amersall. I kept it simple and referenced an earlier post in this thread, but did include "unfairly charged"...

I'm going to follow up with a phone call though to try and get a reference number and will omit any mention of unfairly...

-------------------
Email to them:

Dear Elderbridge

I currently have a secured loan from you, details below.

Mr xxxxx

Account Number: xxxx

I believe I have been unfairly overcharged on this loan due to the interest rate clause and would like this looked into.

I look forward to your acknowledgement and prompt response to this complaint.

-------------------

gethro

gethro said:

Hi Amersall
I Sent an email to Elderbridge asking what is happening as I haven't had any contact from First plus since they forwarded them my complaint , had a letter from them yesterday saying they are looking into my complaint and will get back to me within 4 weeks !! feels like I am going around in circles !

Sent an email to FSO this morning asking if my complaint was still active as the last contact I had from the FSO was 5 months ago ,so in all it will be 1 year in a couple of weeks time and still no one has been assigned to my case !

gethro

gethro said:

gethro said:

Hi Amersall
I Sent an email to Elderbridge asking what is happening as I haven't had any contact from First plus since they forwarded them my complaint , had a letter from them yesterday saying they are looking into my complaint and will get back to me within 4 weeks !! feels like I am going around in circles !

Sent an email to FSO this morning asking if my complaint was still active as the last contact I had from the FSO was 5 months ago ,so in all it will be 1 year in a couple of weeks time and still no one has been assigned to my case !

Had a phone call from the FSO and they have appointed a handler for my complaint ,they are now going to First Plus and asking why they haven't been in contact with me about my complaint ,they will then look into my complaint and If First plus don’t make an offer, they will need to investigate to see whether the interest rate applied to my loan varied fairly over the years. Not very optimistic as they say that we can usually only investigate complaints about events that happened within the last six years.. but we will see !

 

Wildslug2025

Hi Gethro, I'm a little way behind you - I appear to be at the stage Daddycraig posted on 24th Oct 2024.

Elderbridge responded to my complaint after 4 and 8 weeks stating still under investigation.

I then raised with FOS who replied with the same response as per Daddycraig - provided ref no. and they will contact Elderbridge for my records, once received my case will be taken forward and a case advisor will be assigned.

Looks like I'm in for a bit of a waiting game going by previous comments here - if it helps to get me some recompense, I'm more than happy.

2 minor points:

My loan dates are quite similar to yours. I got out with Firstplus and then it was taken over by Elderbridge.
I have yet to receive any indication that my complaint will be passed over to the original lender.

I saw your comments about the timing; I would hope our complaints cover the whole period of the loan and not just the last 6 yrs. They overcharged interest for the duration, not just 6 yrs... 


Thanks

gethro

Wildslug2025 said:

Hi Gethro, I'm a little way behind you - I appear to be at the stage Daddycraig posted on 24th Oct 2024.

Elderbridge responded to my complaint after 4 and 8 weeks stating still under investigation.

I then raised with FOS who replied with the same response as per Daddycraig - provided ref no. and they will contact Elderbridge for my records, once received my case will be taken forward and a case advisor will be assigned.

Looks like I'm in for a bit of a waiting game going by previous comments here - if it helps to get me some recompense, I'm more than happy.

2 minor points:

My loan dates are quite similar to yours. I got out with Firstplus and then it was taken over by Elderbridge.
I have yet to receive any indication that my complaint will be passed over to the original lender.

I saw your comments about the timing; I would hope our complaints cover the whole period of the loan and not just the last 6 yrs. They overcharged interest for the duration, not just 6 yrs... 


Thanks

When I emailed them I pointed out that I haven't heard from them in nearly 6 months they said they sent me an email in November asking for authorisation from my wife as the loan was taken out in joint names ,I missed or never got that email ? 

amersall

gethro said:

gethro said:

gethro said:

Hi Amersall
I Sent an email to Elderbridge asking what is happening as I haven't had any contact from First plus since they forwarded them my complaint , had a letter from them yesterday saying they are looking into my complaint and will get back to me within 4 weeks !! feels like I am going around in circles !

Sent an email to FSO this morning asking if my complaint was still active as the last contact I had from the FSO was 5 months ago ,so in all it will be 1 year in a couple of weeks time and still no one has been assigned to my case !

Had a phone call from the FSO and they have appointed a handler for my complaint ,they are now going to First Plus and asking why they haven't been in contact with me about my complaint ,they will then look into my complaint and If First plus don’t make an offer, they will need to investigate to see whether the interest rate applied to my loan varied fairly over the years. Not very optimistic as they say that we can usually only investigate complaints about events that happened within the last six years.. but we will see !

 

Jethro, they are applying the six year rule, it stinks but parr for the course with these shisters! it will be a nice interest payment though.
Sounds promising for you, fingers crossed.
Did you confirm it was a joint loan?, if you did and you are successful if one or both of you are non taxpayers then if  you get a payout you can claim the tax back.
First plus will take it from any payment they make.

amersall

Wildslug2025 said:

Hi Gethro, I'm a little way behind you - I appear to be at the stage Daddycraig posted on 24th Oct 2024.

Elderbridge responded to my complaint after 4 and 8 weeks stating still under investigation.

I then raised with FOS who replied with the same response as per Daddycraig - provided ref no. and they will contact Elderbridge for my records, once received my case will be taken forward and a case advisor will be assigned.

Looks like I'm in for a bit of a waiting game going by previous comments here - if it helps to get me some recompense, I'm more than happy.

2 minor points:

My loan dates are quite similar to yours. I got out with Firstplus and then it was taken over by Elderbridge.
I have yet to receive any indication that my complaint will be passed over to the original lender.

I saw your comments about the timing; I would hope our complaints cover the whole period of the loan and not just the last 6 yrs. They overcharged interest for the duration, not just 6 yrs... 


Thanks

Keep on at them for a handler, they are slow.
No interest for the whole term of the loan, because you didn't complain years ago, stinks, but there it is.
 Fingers crossed

amersall

We have all been lucky to get as far as we did, took me 12 years but I got redress, unfortunately "in confidence " that's wrong but that's Barclays for you.