Barclays First Plus Loans interest rates

[Deleted User]

SilverJohnx said:

Couple of days ago I asked people on the forums if they could help me calculate the interest rates... not a word from anyone. 
As soon as I opened my mouth about taking my case to the court, I received several responses which I found irrelevant, very negative and discouraging. 
@Farfetch, have you even read any of the reviews on Trustpilot before you started lecturing me on why people leave negative reviews about FOS? Are you affiliated with FOS by any chance? People's cases are becoming legally time barred due to the very fact that FOS do not carry out their investigations within the timeframe expected from them! 
Tell your big bosses that I have now applied to the court and they will hear from them in due course. 

LOL, I don't agree with what you want to hear, so I am a shill for the FOS

People leave bad reviews because they don't want the answer they got, even when it's correct. The reviews reflect a lack of knowledge of how the FOS works e.g. "Mrs Joyce" saying they are poor because they haven't ruled on whether interest rates were too high / unfair - that is not the job of the FOS! Someone else claims it's the banks fault their mother spent loads of money on her credit card! The reviews show people who complain about things, get an answer they don't want, so claim the FOS is corrupt. Brilliant.

Good luck in your court case against a public body, you'll need it.

p.s. You cannot time bar a complaint if it was lodged inside the time bar laws, even if that deadline expires during the complaint

 SilverJohnx said:

@Deleted_User "Lastly, it's patently obvious that if your case was rejected when you were hoping for loads of money, that you would be upset and complain on Trustpilot."

Your advice is toxic. FOS never rejected my case, on the contrary I rejected their help due to the fact that it took nearly 2 years for them to tell me that their caseworker was taking annual leave and that I should hear from her after she's come back from her (extended) holiday. What makes you think that people who wrote  negative reviews about FOS, Barclay's, Elderbridge, Firstplus ect are all hoping for loads of money! We are the victims here, not the other way around!

You mistake a general "you" for being specifically at you.

What do you hope to achieve in suing the banks, FOS etc? Do you not want compensation/money? Exactly.

Chris_English

SilverJohnx said:

Couple of days ago I asked people on the forums if they could help me calculate the interest rates... not a word from anyone. 
As soon as I opened my mouth about taking my case to the court, I received several responses which I found irrelevant, very negative and discouraging. 

Yes, you seem to have only wanted posts that say "You go boy, court's the way to go, good on you!"

This forum though is for people to give sensible advice, not to encourage you to do something very foolish.

It's quote sad how many people will decide to claim that posters are connected with the FOS when they don't get unequivocal support for their very badly thought-out plans.

And no. I am not connected with them. I did used to run the equity division of a bank, though, and dealt with them when we were having to correct errors made some years previoulsy, involving tens of thousands of customers who we were instructed to compensate for an error in a document.

But, I'm sure you know best...

SilverJohnx

If you are UNHAPPY with FOS, please read below and sign the petition:

"There are many people who have been failed by the FOS since it has been formed. The appropriate action is to give your support as victims should not suffer in silence or fear. This only strengthens those who undermine your rights.

For public info, go on 'uk government website e-petition' on Google and search 'Government to Give More Power to SFO to Investigate All Financial Institutions'."

The above has been posted by a Truspilot user. I've just copied and pasted part of his/her review above.

Here is the link

Bearwash

I thought I would add to this forum even though it seems to of lost its way a bit.
My last post was in September,I have now received a reply to my complaint re loan interest rates from Elderbridge via First plus.To cut things short they have made a confidential offer for settlement  on a goodwill basis regarding interest rates which is as clear as mud and states they are only considering the last 6 years from the date I lodged the complaint, time bar i guess.
They also politely add that if you remain unhappy with your loan rate “you may wish to consider another lender”.Thanks for the sterling advice.
I am confused with whe fact that first plus are involved,I assumed Elderbridge had taken over these loans.
I see no choice but complain to the FOS with an independent assessment,any further advice from clear thinking members on this forum would be much appreciated !

rubylou72

I have put complaint In  re interest my loan is paid ... can I ask if they offered you more than 50 percent off what they are saying you owe? Thanks 

amersall

For both of you. Send email to 
Ellen Ledger <Ellen.Ledger@cases.financial-ombudsman.org.uk
With your offers and original complaint, she is the negotiator with FP ask her to look at these as you don't believe they are fair compared to offers already made. I wish you luck

rubylou72

AMERSALL Thankyou very much I will do

Kevink101010

Hi I’m new to the forum I had a second mortgage with first plus 16% interest rate between 2000 and 2014 complained about the interest on multiple occasions to them and FOS turned down 3 times I tried talking to FOS again recently and turned down again any ideas what to try next please 

[Deleted User]

Kevink101010 said:

Hi I’m new to the forum I had a second mortgage with first plus 16% interest rate between 2000 and 2014 complained about the interest on multiple occasions to them and FOS turned down 3 times I tried talking to FOS again recently and turned down again any ideas what to try next please 

What were you complaining about? If you were complaining the interest rates were high, of course they rejected it, it's a commercial decision and the firm doesn't need to give you any better rates, nor can the FOS force them to

nbaker2023

amersall said:

Hi amersall,
Is this still relevant in 2023?

I have had a First Plus loan for over 20 yrs which was transfered to Elderbridge, and was shocked to see my balance in still around £25k at this rate I'll still be paying it off with my pension in 20 years time.

Many thanks
Nige.