First plus loan now Elderbridge
Mariah1967
Forumite 2 Posts
in Loans
I hope this is the right place to ask these questions.
i recently contacted Elderbridge for a redemption statement to pay off our secured loan that was transferred from First plus . The last normal statement I received said the amount owed was £18k but when it received the redemption statement it was actually £32k .
I queried this I was told by letter that it was suspended interest when the account was in arrears ( at the time I was ill and the insurance was paying this ) so as to avoid further arrears.
The letter also says
" Your loan was taken out prior to 2008 and exceeds £25k therefore it is unregulated by the CCA and as such first plus had no legal or regulatory obligation to notify you when they suspend interest on your account and in light of this we are unable to uphold your complaint as we believe no error was made on our part."
My question is do I have any rights to take this matter further as i was kept totally in the dark about this or is it really a case of accepting it ?
Thankyou for reading this .
i recently contacted Elderbridge for a redemption statement to pay off our secured loan that was transferred from First plus . The last normal statement I received said the amount owed was £18k but when it received the redemption statement it was actually £32k .
I queried this I was told by letter that it was suspended interest when the account was in arrears ( at the time I was ill and the insurance was paying this ) so as to avoid further arrears.
The letter also says
" Your loan was taken out prior to 2008 and exceeds £25k therefore it is unregulated by the CCA and as such first plus had no legal or regulatory obligation to notify you when they suspend interest on your account and in light of this we are unable to uphold your complaint as we believe no error was made on our part."
My question is do I have any rights to take this matter further as i was kept totally in the dark about this or is it really a case of accepting it ?
Thankyou for reading this .
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I say you definitely need to consult with a lawyer
Barclays are paying goodwill gestures due to this interest rate and there is a dedicated team at the FOS who are involved with this.
Barclays have always stated that the interest rate was fair and rejected thousands of claims for the past 12 years, the rate was fair? then why are they paying goodwill gestures now?. None of this is in the public domain, it is behind closed doors with the FOS. Get your claim in....NOW