Elderbridge ex Firstplus interest rate hike

[Fred]

Re: Elderbridge ex Firstplus interest rate hike

Have sent a PM for now...........thanks for showing an interest.

[Trax01]

Re: Elderbridge ex Firstplus interest rate hike

What is it you would like to know ?

Everything.... lol

I will firstly call them tomorrow and see if I can get an answer to why they say they are raising my rate, to see if I get more than what’s in the letter, which I may be able to use against them.

i will complain about why they have never decreased the rate when the FHBR decreased but now are when it increased, despite them not being a lender, just a business that purchased the debt. I will also mention the OFT Imposing of Requirements letter, and the undertaking It implied. I will have to have a more proper read of that.

I am sure previously an ombudsman agreed to not uphold complaints, provided First Plus undertook to not increase rates when they went back up, overheares knowledge when I worked there. Though that might have been that she knew about the OFT thing, which I beleieve was about the same time.

I suppose my initial questions are:

Have any cases with FOS been provided with a final decision? If so, have any won? If they are on hold, why?

Also, what happened with the claim against Elderbridge in court? Was it supposed to go to mediation last year? Did it get resolved, and if so, can you say?

I am not in arrears, or hardship and no PPi, so my case is purely about the interest rate, and it would be good to see if there is any way to push for a refund on overpayments if we can argue the rates should have reduced.....

And if if it all fails, and I have no chance, then at the least I intend to register as many complaints as possible, which I will refer to the FOS, no matter of validity, so at least they will not profit from my rate increase, with each referral now costing £750 a pop.

The website that brought the mass action seems to be defunct, and these forums quiet about Elderbridge recently, but a mass of FOS complaints from us all would at least cost them a lot of money. Perhaps interest may increase here, now we all have had a rate increase letter.

Thanks in advance.

[Fred]

Re: Elderbridge ex Firstplus interest rate hike

Just got it myself, hence registering here.

They didn’t reduce it when the rate went down by 0.25% but, have increased it by 0.5% now the rate has gone back up.. not happy.

Did anyone win with any previous FOS or unfair terms claims in court for when the rate didn’t increase with the big decreases in rates years ago? I know there was complaints back then.

Thinking of an initial complaint, but not sure which tact to make.

What is it you would like to know ?

[Trax01]

Re: Elderbridge ex Firstplus interest rate hike

Just got it myself, hence registering here.

They didn’t reduce it when the rate went down by 0.25% but, have increased it by 0.5% now the rate has gone back up.. not happy.

Did anyone win with any previous FOS or unfair terms claims in court for when the rate didn’t increase with the big decreases in rates years ago? I know there was complaints back then.

Thinking of an initial complaint, but not sure which tact to make.