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OK so I've received letters from Elderbridge today regarding my old first plus account. They basically say it's not their problem.
Here's an extract of letter
Upon review of your account our records show a history of arrears on your account (while I was ill). As a way to prevent further arrears your interest was suspended when your account was held by first plus.
This action has no negative impact on your account. By suspending the interest, the interest is seperate from you balance allowing the payments to go directly on your capital balance.
Your loan was taken out prior to 2008 and exceeds £25000,therefore it is unregulated by the CCA and as such first plus had no legal or regulatory obligation to notify you when they suspend interest on your account.
In light of the above we are unable to uphold your complaint as we believe no error was made on our part.
So is it worth contacting Barclays as I can't find Co tact details for First Plus?
Thank you for your time
Here's an extract of letter
Upon review of your account our records show a history of arrears on your account (while I was ill). As a way to prevent further arrears your interest was suspended when your account was held by first plus.
This action has no negative impact on your account. By suspending the interest, the interest is seperate from you balance allowing the payments to go directly on your capital balance.
Your loan was taken out prior to 2008 and exceeds £25000,therefore it is unregulated by the CCA and as such first plus had no legal or regulatory obligation to notify you when they suspend interest on your account.
In light of the above we are unable to uphold your complaint as we believe no error was made on our part.
So is it worth contacting Barclays as I can't find Co tact details for First Plus?
Thank you for your time
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