Elderbridge taken over secured first plus loan

[ollie18]

First plus sold all debts to Elderbridge and Elderbridge have taken over the loan in January 2016. My question is as I signed the credit agreement with First Plus in 2006 do I still need to pay Elderbridge as I have no signed credit agreement with Elderbridge. Wher do I stand with Elderbridge do I need to pay the debt to them and if so do I ned to request a copy of my signed credit agreement with them before making any arrangement for repayments.

[Diana M]

Re: Elderbridge taken over secured first plus loan

First plus sold all debts to Elderbridge and Elderbridge have taken over the loan in January 2016. My question is as I signed the credit agreement with First Plus in 2006 do I still need to pay Elderbridge as I have no signed credit agreement with Elderbridge. Wher do I stand with Elderbridge do I need to pay the debt to them and if so do I ned to request a copy of my signed credit agreement with them before making any arrangement for repayments.

I think you're asking the right questions when it comes to Elderbridge. May I ask you a few too before replying in full?

How much was the loan?

Was it a secured loan and was it described as a "regulated" or "unregulated" loan?

Did you take out the loan through a broker?

Di

[ollie18]

Re: Elderbridge taken over secured first plus loan

I think you're asking the right questions when it comes to Elderbridge. May I ask you a few too before replying in full?

How much was the loan?

Was it a secured loan and was it described as a "regulated" or "unregulated" loan?

Did you take out the loan through a broker?

Di

Hi it is a secured loan i will have to check the total amount aprox £39000 balannce left to pay is £8000 i will have to chekc if it regulated or unregulated and get back to you and i think it was taken through First plus direct but cant remember i will chekc an dget back to you

[Diana M]

Re: Elderbridge taken over secured first plus loan

Hi it is a secured loan i will have to check the total amount aprox £39000 balannce left to pay is £8000 i will have to chekc if it regulated or unregulated and get back to you and i think it was taken through First plus direct but cant remember i will chekc an dget back to you

Okay, get back to me when you've checked the agreement.

Have you any idea how much interest you've paid on this loan since inception and when is it due to expire?

I do have a reason for asking these questions and it's not because I'm being nosey

Di

[ollie18]

Re: Elderbridge taken over secured first plus loan

The loan has finished in June 2016 however due to a period of unemployment i did have reduced payments which led to a debt balance on the account however as the loan is now with Elderbridge not sure how to proceed. I will search my original documents as can only locate the charge order and would you advise i contact Elderbridge for a statement of account for interest payments as dont think ive recveived any statements from First Plus.
Sorry to be so vague I do appreciate you advise and will try to gather the required information
Thank You

[Fred]

Re: Elderbridge taken over secured first plus loan

These loans were legally assigned to "Elderbridge" in December 2015. Your loan would have transferred & it is Elderbridge that holds your account. It reads like a secured "unregulated loan" if so, you will still have a charge on your property until any outstanding balances/arrears have been cleared, plus, there will possibly be a relatively small fee.

[Diana M]

Re: Elderbridge taken over secured first plus loan

The loan has finished in June 2016 however due to a period of unemployment i did have reduced payments which led to a debt balance on the account however as the loan is now with Elderbridge not sure how to proceed. I will search my original documents as can only locate the charge order and would you advise i contact Elderbridge for a statement of account for interest payments as dont think ive recveived any statements from First Plus.
Sorry to be so vague I do appreciate you advise and will try to gather the required information

And I'm sorry to sound so mysterious

The fact you've never received statements may be relevant.

I think the next step would be for you to send a Subject Access Request to Barclays/1st Plus so that you'll have the full history of the loan then it'll be easier for me to see what's what.

Is Elderbridge threatening you with anything nasty at the moment such as court action?

Di

[Fred]

Re: Elderbridge taken over secured first plus loan

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

I would email them with your relevant questions they, will not respond to emails but may want to call you or respond to you by letter. Put your Firstplus account no on/as the reference. Ask them what the outstanding balance is & why.

I doubt they will break down the costs/charges......................they get a bit shy when you ask awkward questions. :tinysmile_twink_t2:

[Silly peeps]

Re: Elderbridge taken over secured first plus loan

Silly young & naive ...took £30k loan in 2003 still paying £463 per month & still have another 6 years remaining...nowhere in paperwork did it detail the exact amount we would be paying back...we could have had another property for this amount! No flexibility & always have that horrible feeling they could take the house so never liked to complain or seek advise

[DANNYBOY62]

Re: Elderbridge taken over secured first plus loan

Im als involved with elderbridge first plus except they are threating me with eviction on the strength of a suspended repossession order taken against me by first plus in dec 2009 they say they can just apply to the courts for an eviction date and that i should start looking for accomodation in the meantime is this possible im in a state of shock to be honest what if any defence do i have step change were no help it is much more complicated than this which i will post to morrow another bloody sleepless night by the way is there any way of knowing for sure who actually owns the debt as on reading their welcome letter it states a company called swancastle have the financial interest and that elderbridge have th legal interest swancastle are based in the cayman islands are they the parent company and would they come under the fca fsa regulations if they are based in the cayman islands they also have a convenience box address in dublin roi weird i would dearly love to know as for elderbridge they are very very sneaky company they are also liars no point in talking on the phone to them as they deny deny every thing youve told them unless its in their favour ps im 70 this yr and the loan goes on until 2023 taken out in march 2008 had ppi no bloody use thank and good night and may your god go with you

[Barcode-01]

Re: Elderbridge taken over secured first plus loan

Hi
I am in the same position I originally took a FP loan out In March 2005 over 25 years for £60,000 ppi was added to the loan of £14995 which I was paying £114 per month in my monthly payment for the ppi
My relationship broke down in 2008 and I ended up with arrears of £32,000 which is now on a suspended repossession, this was suspended on the grounds I pay £900 per month which I have being paying since 2013.
I asked Elderbridge for a early settlement figure which stated £32000 owed at the top of the letter but the settlement figure it stated
£91000 I just don’t understand where they get there figures from?
I have recently managed to claim my ppi through the fscs when I asked elderbridge if the £14995 been taken off my outstanding balance for the ppi they said that was nothing to do with them this was through Barclays Bank is that correct, should this be taken off my outstanding balance?
I just don’t see why my payments haven’t gone down since this is 13 years old now
please can you advise me if this is legal and if these figures are correct as my original credit agreement was with firstplus and I have never signed a contract with elderbridge do I have to pay them?