money car finace and arnold clark vri payout

notagainargg

Hi i am hoping somebody will be able to help me out here. My gf wrote off my car in a low end shunt (her fault ) we have been waiting for the insurance payout which was sent to moneyway car finance on the 10th by 1st class post.

They stated everyday they didnt have it but low and behold its been cashed by them a few days ago (according to the insurance company) and only today they say they have it.

Fine but to get our arnold cark vri insurance claim going we need a letter from them stating they have it but after promising us they would do this and accept the insurance payout as part settlement to reduce the next few months payments untill the vri pays out they state they are now not going to accept a part settlement and want the vri to contact them.

But here lies the problem vri wont contact them until a claim is made and until moneyway get their finger out of their @@@ and give me a letter to say they have received it they wont process my claim for vri. I am stuck between a rock and a hard place can moneyway do this.

I need the vri cheque to pay off the outstanding finance with is just a few grand after the insurance payout is taking into account.

All payments have been made on time every time. Please some advice please.

InsideInsurance

Moneyway are a regulated entity and so make a complaint to them and escalate the matter to the FOS if you arent happy with their response or if they do not respond within 8 weeks.

Secondly, speak to the GAP provider and see that given the issue and outstanding complaint they'll accept a letter from your motor insurers confirming the payment was made to the finance company and the chq was cashed by them

notagainargg

I would advise anybody the telephones this company to record it as i will be doing this from now on.

They told me when the insurance company sent them the cheque they will accept this as a partial settlement and reduce the payment to save interest etc..

I thought that's fine and when the vri pays out they will get the rest and the remainder will go on a deposit on a new car . Now they think they can not accept the part settlement money from the insurance company and charge me 3 years worth of interest which would leave me with nothing at all back from the vri.

Legalised theft in my opinion and i have a very uneasy felling about this being very illegal as i have looked at the tandc and it clearly states if i or anybody acting on behalf of me sends them money they will treat it as a partial settlement and adjust the balance and interest accordingly