Barclay's sell UKSL (Firstplus)

[Fred]

http://www.newsroom.barclays.com/r/3...nding_business

[Fred]

Re: Barclay's sell UKSL (Firstplus)

What now for second charge lending & moreover the control of "unregulated loans"

[Fred]

Re: Barclay's sell UKSL (Firstplus)

Letters now being sent out...............transfer date on/beyond but not before 18th January 2016......no more Firstplus.

[Gadgets]

Re: Barclay's sell UKSL (Firstplus)

Received my letter today, i have not received any statements from then as far as i can remember and i am concerned that Elderbridge Ltd will not deal with any disputes on transactions prior to their purchase of the loans .

i also found it funny that on the letter it stated this: "Please be assured that this change will not affect the service you receive in any way".

what was not funny was the part where the letter stated Elderbridge Limited will be responsible for the management of my loan account from Jan 18, 2016 onwards which includes the setting of interest rates.

[Fred]

Re: Barclay's sell UKSL (Firstplus)

Letters received today for the confirmed sale/assignment of FP to Elderbridge Ltd.

The date of transfer is confirmed as from the 18th Jan 2016.

No specifics such as account balance are included in the letter.

[Fred]

Re: Barclay's sell UKSL (Firstplus)

Several member's of the public are reporting concerns over these accounts specifically, the account balance as from what is being said, Elderbridge, do not have all the data.

People are naturally very concerned over being able to check their accounts & god help any body who needs a redemption figure.

We know the CRA files only contain the loan balance minus payments............the interest & other charges are known only to FP/Elderbridge

Be nice to read any experiences if at all possible please.

[charitynjw]

Re: Barclay's sell UKSL (Firstplus)

http://fca-consumer-credit-interim.f...w?accId=664764
Basic details

---

Elderbridge Limited

664764

IP issued

Target Loan Servicing Imperial Way Coedkernew Newport Gwent NP10 8UH

Target House Cowbridge Road East Cardiff CF11 9AU

Emma Powell emma.powell@targetgroup.com

[Unregistered]

Re: Barclay's sell UKSL (Firstplus)

Every body needs to find out what balance has been passed across. On double checking mine, it was 8000, over. Now corrected but without me querying this I would have assumed all would be legitimate. Looks to me figures are inflated.

[Unregistered]

Re: Barclay's sell UKSL (Firstplus)

I've not had a statement from first plus ever... So how will I know if the correct balance has been passed?

[Fred]

Re: Barclay's sell UKSL (Firstplus)

I've not had a statement from first plus ever... So how will I know if the correct balance has been passed?

customer.services@elderbridge.co.uk

http://elderbridge.co.uk/pages/contact-us.html

Mail them or give them a call, ask them what details they can give you without incurring a charge (usually £25)

[Paulie67]

Re: Barclay's sell UKSL (Firstplus)

Elderbridge are a joke. My First Plus loan has been part of an IVA since 2011 and I completed the IVA in March this year. Default balance still showing on my credit file and the default date is 6 months after the loans inclusion in my IVA! Despite a detailed letter to them and several emails - no response. Having raised the queries via the credit referencing agencies it seems Elderbridge don't respond to them either. Despite me providing IVA details to the agencies, they will only amend the data if Elderbridge say so. I have made a two pronged complaint via the Ombudsman and the ICO - I am not looking for compensation, I just want the data amended. First Plus did write to me in January to say the loan had been transferred though I find it shocking that loans can be just passed around like this - particularly as mine had been in IVA since 2011.

[Fred]

Re: Barclay's sell UKSL (Firstplus)

It seems..............Elderbridge are going to start issuing annual statements to all their customers, not just regulated agreements.

They have stated as much in a complaint by one consumer. They do not do things like that in the interests of customer satisfaction...............do they ?

[Fred]

Re: Barclay's sell UKSL (Firstplus)

Elderbridge are a joke. My First Plus loan has been part of an IVA since 2011 and I completed the IVA in March this year. Default balance still showing on my credit file and the default date is 6 months after the loans inclusion in my IVA! Despite a detailed letter to them and several emails - no response. Having raised the queries via the credit referencing agencies it seems Elderbridge don't respond to them either. Despite me providing IVA details to the agencies, they will only amend the data if Elderbridge say so. I have made a two pronged complaint via the Ombudsman and the ICO - I am not looking for compensation, I just want the data amended. First Plus did write to me in January to say the loan had been transferred though I find it shocking that loans can be just passed around like this - particularly as mine had been in IVA since 2011.

This is the first I have read of a consumer being allowed to include a Firstplus secured loan in an IVA, very surprised they have agreed to it.

[Paulie67]

Re: Barclay's sell UKSL (Firstplus)

Allowed house to be voluntarily repossessed. Loan automatically becomes unsecured, together with any shortfall from main mortgage and can be included in Iva. Had no equity in property so it was ideal for me to have the lot written off.

[meellis]

Re: Barclay's sell UKSL (Firstplus)

Fred, a few of the companies have started issuing statements more regularly and also been a bit more considerate shall we say. I was originally thinking this would be to do with either the regulation changes that were penned for now or the threat of unfairness. I do believe the companies have read the regulation changes as more restrictive than the FCA have interpreted them.