Elderbridge settlement figures

[Beanzy26]

Hello,
I originally took a loan out with first plus in 2007 for 20k for 20 years, it was sold on to elderbridge last year, I have never missed a payment and never been in arrears, I requested my settlement figure and was given £17,100 my discharge fee is 60.00 but no other penalties, I can't find my original loan agreement with first plus but is this figure right? Surely if I am nearly half way through the term of the loan it should be a lot lower than that?
i am racking my brain as I seem to remember a table of settlement figures from first plus, and it was lower the longer into the term?

any advice for me as feel this is s way too steep

[Fred]

Re: Elderbridge settlement figures

To give £17K outstanding now if your loan started on 1st June 2007 (240 payments) it would mean a payment of £249 per month charged at at an interest rate of 17.5%...................you tell me which is correct ?

[Beanzy26]

Re: Elderbridge settlement figures

To give £17K outstanding now if your loan started on 1st June 2007 (240 payments) it would mean a payment of £249 per month charged at at an interest rate of 17.5%...................you tell me which is correct ?

Thanks for reply payments have been 175 per month and think the interest was around 9%

[Fred]

Re: Elderbridge settlement figures

Thanks for reply payments have been 175 per month and think the interest was around 9%

For £174.83 per month @ 8.6% after 120 payments (10 years) you would have £14040.59 left to pay....................

[Wendsear]

Can someone please help. I took a loan out with First Plus in 2003 for 50k. It has been transferred now to Elderbridge and I had a statement in January saying I owed £35197. I asked them for a settlement figure today and they've told me it's £35168. I am paying £567 with interest rate of 7.91%. I thought I would have been given a settlement figure of a lot less. Is this right?

[Fred]

Can someone please help. I took a loan out with First Plus in 2003 for 50k. It has been transferred now to Elderbridge and I had a statement in January saying I owed £35197. I asked them for a settlement figure today and they've told me it's £35168. I am paying £567 with interest rate of 7.91%. I thought I would have been given a settlement figure of a lot less. Is this right?

Unusual, they do not normally give out statements, is this a second charge loan ?

Need to know how long for ?

Have you had any changes in rates, if so when & what did your loan start on ?

A settlement figure from these people may be loaded with extras & is a completely different fish than a statement, is it possible to post a redacted copy loan agreement please ?