For all those who want to abolish the HoL first of all there has to be a better alternative. For all those who object to the finance then what rules/payments would be paid to any members of a replacement body.
That then brings us to the need for a second chamber. Without one, the politicians in the HoC would have complete freedom to make changes, introduce new laws and there would be more mistakes, more bad law, more unnecessary legislation and more dissatisfaction among us voters and non-voters.
Many people have never had any understanding of just what the Lords do. Firstly there is no two party position. There are seats for both main parties plus the LibDems and a large section of crossbenchers togther with some smaller parties. It is never guaranteed that either government or opposition will get the votes they want.
There is a lot of information to be read in Wikipedia as well as elsewhere, together with reasons for removing Lords.
The HoL is the second busiest legislative chamber in the world! Second only to the HoC. There are committees, debates, formal and informal meetings as well as working with the Commons.
It could be useful to read about the history but the main point to make is that this all started when there was little if any education of the general populace. Those "in charge" of our country needed to be educated. The system has continued with little change apart from the 1999 Act.
The fact that it has taken so long and continues to remain a difficult matter for change is some indication of how important it is to get it right...