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First Plus - Elderbridge: Can we get this done now, please?

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  • First Plus - Elderbridge: Can we get this done now, please?

    Hi,
    I am one of many long-time suffering First Plus customers. Last year, when it was sold to Elderbridge, I made a data access request, but the guy on the phone failed to tell me I had to send the request in with a cheque £10. So, I never received the data.
    Also, I never received statements of the account.

    I've refused to pay on the basis that the loan was mis-sold, and now they are threatening repossession. I complained to Elderbridge formally earlier this week because of their failure to process the DAR, failure to send statements and also because they sent around some optimistically called "councillor" (some cross-bearing weasel without ID).

    When I just called Elderbridge, the person in the legal team said it was my fault for not chasing up the DAR. He said I would have to request it again now and send in a cheque for £10. After they messed this up the first time, I said they should at least wave the tenner - not even that! When I asked about the lack of statements, he said the loan was not regulated by the FSA and, therefore, they didn't have to. When I pointed out that Elderbridge was regulated, he was quite cavalier, saying "yes, but the loan isn't".

    How is this possible? How can a company, but not a loan, be regulated?

    And more importantly, how can we get a class action lawsuit against these reprehensible people together? The loan was mis-sold. The interest rates kept on going up despite BoE rates going down. This is clearly unfair. Elderbridge is now acting like a loan shark, trying to reap the benefits of sky-high loan rates while not taking even the basic responsibilities. It's been going on for far too long. How can we get this done? I am happy to do the PR groundwork, having worked as a financial journalist for several years. I'd also rather pay a solicitor than Elderbridge.

    Also, how do I stop eviction now without paying? I refuse to.

    Many thanks for your help!
    Tags: None

  • #2
    Re: First Plus - Elderbridge: Can we get this done now, please?

    Well, to answer one of your questions on regulation; Most of Firstplus loans are unregulated (over £25K signed before April 2008) this means that they are not regulated by the CCA 1974 (as amended) the provider or the organisation that manages the loans must be licensed. It is the license/terms that, make the company itself regulated. Any actions arising from regulation would come from a breach of the licensing terms. I have to write that the FCA are not at all active in this area & very much leave them to do as they wish.

    There is loads of stuff on here.........have you read the disclosure;

    http://www.legalbeagles.info/forums/...lus+disclosure

    Comment


    • #3
      Re: First Plus - Elderbridge: Can we get this done now, please?

      I am interested in your post, it writes like you have some fight in you & by the sound of it you may have some interesting slants on this subject. Loads of stuff on here by myself & Halifax 71.........please have a read, let me know if you have any questions please.

      Comment


      • #4
        Re: First Plus - Elderbridge: Can we get this done now, please?

        Another note on your "class action" comment, that is for the Americans, we do not have a system that would easily allow that kind of thing here. We could however raise a super complaint with the regulators & involve ADR in the form the useless FOS, I do not know what this may bring but, it would mean that it would be difficult for regulatory bodies to ignore...........we need a lot of folks for this, willing of course.

        Comment


        • #5
          Re: First Plus - Elderbridge: Can we get this done now, please?

          Happy to answer any questions missetoile

          I've asked them to explain what costs have been incurred, over and above those at loan inception, that justifies my Apr being higher now.

          They've failed to provide a reasonable explanation, only during their defence of my small claim have they said stuff like default costs. I've never missed a payment.

          There are no increased costs so it will be interesting to see what the judge says when my case is heard in June.

          My case is against firstplus and Elderbridge as neither would accept responsibility at lba stage. Plus I remained unconvinced about Elderbridges liability for firstplus' past administration of the account.

          Comment


          • #6
            Re: First Plus - Elderbridge: Can we get this done now, please?

            [QUOTE=missetoile;721234]Hi,
            I am one of many long-time suffering First Plus customers. Last year, when it was sold to Elderbridge, I made a data access request, but the guy on the phone failed to tell me I had to send the request in with a cheque £10. So, I never received the data.
            Also, I never received statements of the account.

            I've refused to pay on the basis that the loan was mis-sold, and now they are threatening repossession. I complained to Elderbridge formally earlier this week because of their failure to process the DAR, failure to send statements and also because they sent around some optimistically called "councillor" (some cross-bearing weasel without ID).

            When I just called Elderbridge, the person in the legal team said it was my fault for not chasing up the DAR. He said I would have to request it again now and send in a cheque for £10. After they messed this up the first time, I said they should at least wave the tenner - not even that! When I asked about the lack of statements, he said the loan was not regulated by the FSA and, therefore, they didn't have to. When I pointed out that Elderbridge was regulated, he was quite cavalier, saying "yes, but the loan isn't".

            How is this possible? How can a company, but not a loan, be regulated?

            And more importantly, how can we get a class action lawsuit against these reprehensible people together? The loan was mis-sold. The interest rates kept on going up despite BoE rates going down. This is clearly unfair. Elderbridge is now acting like a loan shark, trying to reap the benefits of sky-high loan rates while not taking even the basic responsibilities. It's been going on for far too long. How can we get this done? I am happy to do the PR groundwork, having worked as a financial journalist for several years. I'd also rather pay a solicitor than Elderbridge.

            Also, how do I stop eviction now without paying? I refuse to.

            Many thanks for your help!

            Any thoughts ?

            Comment


            • #7
              Re: First Plus - Elderbridge: Can we get this done now, please?

              When I just called Elderbridge, the person in the legal team said it was my fault for not chasing up the DAR
              What the ICO says

              Although you need not comply with a request until you have received a fee, you cannot ignore a request simply because the individual has not sent a fee. If a fee is payable but has not been sent with the request, you should contact the individual promptly and inform them that they need to pay.
              https://ico.org.uk/for-organisations...ccess-request/
              CAVEAT LECTOR

              This is only my opinion - "Opinions are made to be changed --or how is truth to be got at?" (Byron)

              You and I do not see things as they are. We see things as we are.
              Cohen, Herb


              There is danger when a man throws his tongue into high gear before he
              gets his brain a-going.
              Phelps, C. C.


              "They couldn't hit an elephant at this distance!"
              The last words of John Sedgwick

              Comment

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