Financial Arbitration Ltd

dunstonh

This company have just spammed this site with a bunch of lies and misrepresentation. Here are some of things in the spam which show you just how bad they are

This is the only Arbitration company in Great Britain and not to be confused with any claims bureau, or solicitor.

Yet they are regulated by the MoJ as a claims company.

The way forward to qualify for our help is simply if you did not enter your own bank for a loan or mortgage then we can help. In other words if you used a broker for instance, some sort of 3rd party then the situation changes, in as much they charge a fee.

So, they claim all broker sales or direct are mis-sales.

Besides which, prior to April 2007 credit agreements were not set-up correctly. With this in mind there is case against a creditor to have a claim against them.

Now they are claiming that all credit agreements prior to 2007 are wrong.

The company I represent does charge a fee of £495 for the privilege of claiming for the the loan to be made unenforceable, which I feel is reasonable.

Only one winner here and thats the person being paid £495.

It is definately not a scam.

it certainly is given your misrepresentation.

dunstonh

Any agreement taken out prior to April 2007, the creditors were instructed by The Information Commissioner's Office (Data Protection) to shred all agreements to that date.

That is a lie.

This then creates a situation where a creditor is unable to produce the requested data/information under sections 77-79 0f The Consumer Credit Act 1974.

That is incorrect. They do not have to produce the original. Just a true copy.

If a creditor has not shredded the data/information then whilst it was a criminal offence to not do so, it is now regarded as a domestic infringment.

That is incorrect.

Even so, there are other areas of the set-up of an agreement as well, including if a third party was involved, such as a broker, car dealership or the like. This creates other breaches, owing to lack of information provided by a creditor, especially if you have applied through a car dealership.

That is incorrect.

The dealership should provide a Pre-Contract Agreement for instance. This should show as well as other items commission disclosure. I am sure nobody has ever seen a car salesman's commission shown on any loan agreement. This then also creates a situation where the interest paid for the car/vehicle loan increases owing to commission having to be paid to the salesman.

There is some truth in there but it is also hard to prove and the courts haven't ruled in favour yet unless there was undisclosed commission AND a fee taken. Not commission only (which is how most car dealers work). Plus, the interest rate is not explicitly increased over the agreement to pay the commission.

The courts continue to rule against people putting in claims under the unenforceable loans. Claims companies have been failing all over the place taking the £495 or whatever the up front amount is with them. It is estimated that actually under 10% of loans are unenforceable.. The money to this company (and other companies of this ilk) is amount deducted from what they refund. The problem is that companies financed like (large up front payment which is almost certainly going to have to be refunded) is that they will end up with more liabilities than assets and fail (see Cartel as the highest profile company to fail with this model).

Read the above spam from Ned Hulse. Then read this: https://www.claimsregulation.gov.uk/userfiles/file/UCCA%20Marketing%20update%20-%20Jan%202010.pdf and play a game of spot the breach.

Annisele

The OP said that he had a car credit agreement through his business. In that case, does the Consumer Credit Act apply to his loan at all? (I don't know the answer to that, I'm just wondering).

Dunstonh is right about his 'spot the breach' game, but I'm too lazy to play - it screams scam; I don't need to go finding specific breaches to know that.

Greggralph

I was foolish enough to be drawn in by these guys around march time, they said it would take around 6 weeks for my case to go through and I'm still waiting and I think it will be a dead end. The fella who came to see me about the case said that they gurantee they'll get at least 60% of my loan cleared. I feel foolish to fall for this. I read what the rep for f.a ltd said and it's absolute rubbish, Where are the people who this company have helped out. A
the only communication with them was when I would ring to find out what's been going on and it's always the same excuse like there's a back- log or we'll look at your file and then get back to you(which they usually don't). I would love them to prove me wrong but that's wishful thinking I feel. An absolute scam.

dunstonh

they said it would take around 6 weeks for my case to go through

rule breach 1

The fella who came to see me about the case said that they gurantee they'll get at least 60% of my loan cleared.

rule breach 2

you should report them to the ministry of justice as they are exactly the things that the MoJ have told claims companies not to say.

dunstonh

Ned_Hulse wrote: »

After posting what I hoped to be be of some help and assistance to people, I have now been asked by my superiors to remove the information I provided. With this in mind, will you please remove all comments I entered on your website with regards to Financial Arbitration.

Sincere Regards

Ned Hulse

P.S. I posted the information without my superiors' knowledge which has led to some sort of carpetting of myself. I realise whilst I meant well I should had the entry passed by compliance first.

click edit on your post and select delete and it will remove your post.

CarrieAnne_2

I just saw your query as to does anyone know of Financial Arbitration in Stockport. Yes I do. In April this year I received a telephone call from someone telling me they might be able to clear my debts. I thought it was too good to be true, however I agreed to see one of their representatives. I paid him £990 to look at my credit card and loan. Last week I received my final letter telling me that I am now debt free, and I got some money back for payment protection that I didn,t even know I was paying. It was the best phone call I've had Thankyou Financial Arbitration now I know it works I will be telling all my family and friends.:j

dunstonh

CarrieAnne wrote: »

I just saw your query as to does anyone know of Financial Arbitration in Stockport. Yes I do. In April this year I received a telephone call from someone telling me they might be able to clear my debts. I thought it was too good to be true, however I agreed to see one of their representatives. I paid him £990 to look at my credit card and loan. Last week I received my final letter telling me that I am now debt free, and I got some money back for payment protection that I didn,t even know I was paying. It was the best phone call I've had Thankyou Financial Arbitration now I know it works I will be telling all my family and friends.:j

What complete and utter rubbish. That has not happened and all you have done is make this company look even worse as it looks like they are now getting their staff/sales reps to self advertise on this site.

You are a liar and a fraud.

jacko723

We were sucked in by this company back in March - we handed over £820 and got told it takes a total of 107 days from start to finish. We have never received any correspondence from them - we have had to ring up every time to see if we have a case - we received an email on Monday to say that our agreement with a finance company had breaches on, they were sending a copy of our report to them and they now have 14 days to respond - what happens now??? Who knows??? Because when we try ringing Financial Arbitration for more information they do not answer calls or respond to emails. We are under the impression we have lost our £820

CarrieAnne_2

How dare you call me a liar! You clearly have something against this company. That is between yourself and them. But you have no right whatsoever to question me or my integrity. I do not work for Financial Arbitration, but I do wonder why, for someone obviously so knowlegable, you have so much time to spare complaining, offering your opinion and insulting people.