Marc Gander - The Consumer Survival Handbook


A 220 page introduction to all things consumer related by our own BankFodder.

Includes energy companies, mobile phone providers, retailers, banks, insurance companies,debt collection agencies, reclaim companies, secondhand car sellers, cowboy garages, cowboy builders and all the rest who put their own profits before you.

£6.99



Patricia Pearl - Small Claims Procedure - A Practical Guide


An excellent guide for the layperson in how to use the County Court - a must if you are intending to start a claim.

£19.99 + £1.50 (P&P)


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  1. #1

    Default First Plus to Elderbridge Loan!

    Morning Everyone,

    I have decided to try help my family members out looking into what I believe is a secured loan.

    Apparently it first got taken out in 2007 with First Plus and it is now with Elderbridge.
    They have been paying the payments as usual for the last 12 years.
    The amount borrowed was 25,000 and after paying for 12 years the settlement figure is 20,000.
    How can this be possible!

    I sent Elderbridge a SARicon request and all they have sent is a 5 page statement of payments since the loan was taken out.
    Now I am by no means an expert but surely a lot more information should have been sent!
    They got absolutely nothing else.
    What kind of things should I be saying in the next letter?

    Also was I right that you no longer need to pay the 10?
    They are willing to pay it but I just thought I had read somewhere that this was not required anymore.

    Any help would be appreciated,

    Kind regards

    Tink

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  2. #2

    Default Re: First Plus to Elderbridge Loan!

    Yes the request is now free Tink...are the no calculations of what interest is being applied monthly ?

    May be prudent to send a section 77 request for a copy of the agreement and T&Cs (Request template can be found in the libraryicon)

    I assume this is a regulated CCA agreement (2007) ?


    Andy

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  3. #3

    Default Re: First Plus to Elderbridge Loan!

    Hi Andy,

    Thanks for replying. I assume it is a regulated CCA agreement although at the minute all I have got to go on is this statement which is just a few pages. It does mention " Your mortgageicon is a repayment mortgageicon" I was under the impression from them this was a secured loan. Sorry If I am being slightly stupid - as I mentioned before I'm certainly no expert at this kind of stuff.

    The statements say: Payment due by direct debiticon: 240 and then interest 219 so basically does this mean they've only been actually paying 21 per month towards the payment?

    In the meantime I will look at the templates for the section 77. Do I also write again reminding them the time has lapsed on the SARicon request?

    Thanks

    Tink



  4. #4

    Default Re: First Plus to Elderbridge Loan!

    Didn't you say that they had responded to DSAR?

    " all they have sent is a 5 page statement of payments since the loan was taken out "

    Ideally you should have sent it to First Plus ...the original creditor.


    Section 77 request.....

    https://www.consumeractiongroup.co.u...January-2015**

    We could do with some help from you

    PLEASE HELP US TO KEEP THIS SITE RUNNING
    EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS



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  5. #5

    Default Re: First Plus to Elderbridge Loan!

    PLEASE REFRAIN FROM HITTING 'REPLY WITH QUOTE' IF YOU ARE SIMPLY REPLYING TO THE LAST POST IN A THREAD..JUST TYPE!!
    it makes a thread twice as long to scroll through..save data download times and costs
    If you want advice please PM me a link to your thread. PM advice is not allowed!!
    DX
    RIP Martin3030

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