Finance Companies

The_ODonnell_Boy

Is it worth attempting to get it removed though with this letter?

(Including the red part, regarding Defaults)

http://www.consumeractiongroup.co.uk/forum/bank-templates-library/671-2-letter-preliminary-approach.html

Glitter

Hi

Not sure if anyone can help;

I have had problems during the last few months where I have fallen into arrears with 2 secured loans I have with GE Consumer Finance.

For each month I have been in arrears (all paid up and clear of arrears now :j ) I have been charged interested.

Am I able to claim this back?

Thanks in advance,

x

bjblackmore

Hi,

I've been given a £400pm car allowance at work. So went to my local ford dealership and got a new Mondeo on a PCP agreement. We explained to the sales guy that we had £400pm to spend, and didn't want to go over that, so he worked out an agreement for £399.97pm, fine!

However, the paper work arrived last week, and I see the first payment will be £524.97, as there is a £125 admin fee for setting up the agreement, which the sales guy conveniently forgot to mention.

I'm wondering, could you try and claim back this admin fee, as being disproportionate when compared to their costs for actually setting up the agreement, in the same way that bank charges are disproportionate. After all, I doubt it costs £125 to pay someone for 10 minutes data entry.

Just a thought, wondered what everyone else’s view on this would be!

Thanks

Ben

tarik

hi guys, i sent a letter to GE money with regard to claiming charges on my car finance agreement and i got a reply from them with a list of all the charges etc.
just a quick question.
In their letter it says "" The office of fair trading's publication of its findings into default fee charges only applied to bank and credit cards and did not apply to auto finance. Our view remains that we are entitled to charge these fees."

should i just ignore this paragraph and continue with the 2nd letter?
thanks

catmiaow

I would continue the worst they can say is no.

standupguy

You need to take a view if you think the charges are fair and reasonable - if you think they are not you should challenge them and ask for them to be deleted.

Eg. for example charging £40 for a phone call would be considered unreasonable and unfair but charging say £5 may be a reasonable charge?

You have the right to take your complaint to the Financial Ombudsman service if you are unhappy with their response.

tarik

well the charges are like £30 a time same as other returned direct debits. i wouldnt have a complaint it like you say they were £5 or even £10 but £30 is ridiculous and just makes matter worse when u dont have that much money to begin with.

wayne23

i HAVE VEHICLE VAN FINANCE WITH rOYAL BANK OF SCOTLAND I USUALLY PAY MONTHLY OVER THE PHONE AS I DONT LIKE DIRECT DEBIT, I HAVE HAD A BIT OF CASH FLOW PROBLEMS AND HAVE MISSED THREE PAYMENTS, I NOW HAVE SOME MONEY BUT THEY WANT £250.00 IN LATE PAYMENT CHARGES DO I HAVE TO PAY THEM NOW AND CLAIM BACK LATER OR JUST REFUSE AND JUST PAY THE VEHICLE NORMAL PAYMENT, CAN THEY FORCE REPOSSESION IF i DONT PAY THESE FEES

catmiaow

You will have to pay them now or face repossession plus a default on your credit file making it unlikely you will get another finance agreement.
You can claim back under hardship, but they certainly make u wait in my experience.

Halifax_2

I have a finance agreement (0%) and pay my repayments by direct debit. On a number of occasions my bank has kindly refused to honour the DD payment and obviously charged me £35 for the privilege. The finance company has also charged me a fee too! can this be reclaimed? Thank you!