Firstplus selling debt to Elderbridge

[Surfer]

We have bene advised that the debt is being sold to Elderbridge and FP mentionthat new T & Cs may apply. Surely if there are new T & Cs, that is a gte out clause. I contacted FP in November 2015 and requested a settlement figure but this has not been forthcoming. In addition we have not had a statement for over a year actually close to 18 months. Our repayment is £70 a month with another 3 years to run so settlement figure shoudl be about £3000 but you incur penalties if you pay in small lump sums early plus if we pay more than the £70 they send us a refund. Very annoying as all we want to do is to get rid of the debt!

[Fred]

Re: Firstplus selling debt to Elderbridge

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

http://legalbeagles.info/forums/show...firstplus+sold

[Fred]

Re: Firstplus selling debt to Elderbridge

The template letter sent out stated;

"there will be no changes to the current terms & conditions of your loan"

What does your letter read please ?

[Surfer]

Re: Firstplus selling debt to Elderbridge

On letter received today it is stated on the rear in the last line "Elderbridge will contact you seperately to set out how they will handle your data in future and any new terms and conditions that may apply". As we have not given Elderbridge permission to handle our data, can they do this?

[Fred]

Re: Firstplus selling debt to Elderbridge

I have not seen this before...............most of the letters were sent out on or around 7th Dec. As the new owners of these debts they can pretty much do the same as Barclays, I suppose it depends what you signed on your agreement. There is in most cases a term/s on data sharing which is much the same with most of the contracts that I know of.

The data clause & assignment are/should be on the front page of your agreement.

[Fred]

Re: Firstplus selling debt to Elderbridge

On letter received today it is stated on the rear in the last line "Elderbridge will contact you seperately to set out how they will handle your data in future and any new terms and conditions that may apply". As we have not given Elderbridge permission to handle our data, can they do this?

Yes............a new letter dated 15th Jan confirming transfer from 18th January to Elderbridge, a few of our lot got theirs this morning.

[mcoupar]

Re: Firstplus selling debt to Elderbridge

Hi, I had a secured loan with Firstplus around 2007 and was declared bankrupt in 2010. The loan in question was part of the bankruptcy and the sale of my assets settled the loan. A few days ago I noticed that Elderbridge have taken a direct debit of £700 from my bank account without permission. As this is half of my monthly income this has obviously caused a considerable problem. I have reported this to my bank but wondered what the legal standpoint is with regard to Elderbridge taking a considerable amount of cash from my account. Many thanks for any help or advice you can give me.

[Debt Camel]

Re: Firstplus selling debt to Elderbridge

The loan in question was part of the bankruptcy and the sale of my assets settled the loan.

So you are saying the Firstplus loan was settled in full?

I have reported this to my bank

I presume the bank has refunded you the money ?

Have you asked Firstplus why they took this money?

Why do you still have a direct debt authority set up for Firstplus?

[Fred]

Re: Firstplus selling debt to Elderbridge

It is "Elderbridge" who has acquired the legal interest of Firstplus loans as from the 18th Jan this year.

As for the account debit, do you bank with Barclay's ?

[mcoupar]

Re: Firstplus selling debt to Elderbridge

So you are saying the Firstplus loan was settled in full?

I presume the bank has refunded you the money ?

Have you asked Firstplus why they took this money?

Why do you still have a direct debt authority set up for Firstplus?

Many thanks for your reply. Yes the account was settled in full as part of the bankruptcy - my home was sold to pay off the remaining balance. The bank has refunded the money today fortunately - they told me the direct debit mandate was set up via an "automated system". The original authority was cancelled at the time of settlement but Elderbridge have set this one up without my consent.

- - - Updated - - -

As for the account debit, do you bank with Barclay's ?

I bank with Santander, for my sins.

[Debt Camel]

Re: Firstplus selling debt to Elderbridge

I'm glad you have your money back !

I think you should check your credit report to see if Firstplus / Elderbridge still think you owe them money, and get this corrected if it is wrong, see http://debtcamel.co.uk/credit-file-after-bankruptcy/

[charitynjw]

Re: Firstplus selling debt to Elderbridge

Many thanks for your reply. Yes the account was settled in full as part of the bankruptcy - my home was sold to pay off the remaining balance. The bank has refunded the money today fortunately - they told me the direct debit mandate was set up via an "automated system". The original authority was cancelled at the time of settlement but Elderbridge have set this one up without my consent.

- - - Updated - - -



I bank with Satander, for my sins.

Sorry, I couldn't resist, lol!

(Ok, Ok [MENTION=6]Amethyst[/MENTION], I know, .....coat...........)

[mcoupar]

Re: Firstplus selling debt to Elderbridge

I'm glad you have your money back !

I think you should check your credit report to see if Firstplus / Elderbridge still think you owe them money, and get this corrected if it is wrong, see http://debtcamel.co.uk/credit-file-after-bankruptcy/

I've got hold of my Experian credit report to check out the statuses. The FP account has a default date (Oct 2010) and default balance but there is no other indication that the balance was paid off as part of the bankruptcy. Thank you for your help it is much appreciated.

[Debt Camel]

Re: Firstplus selling debt to Elderbridge

OK you need to ask them to set this balance to zero.