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Advantage Finance - Advice Needed
outlaw69uk
Posts: 3 Newbie
in Loans
Hi chaps, first post here, I am looking for a little advice, bear with me, its a bit long winded this one, and, I am sure some people will have come across this gem of a company. I know what they have done, my issue is trying to resolve it. I have had 2 accountants look over the figures as well, to double check them, also sent to my local MP who seems to be picking this up.
Myself, and my (now) Ex-wife, took car finance on a vehicle, as it turned out with Advantage (this was done through a broker type, I believe called Car Loans 4 U. At the time, she was a student nurse, I was working. It was a 48 month loan, at a "decent" rate given our circumstances, and, that was it. We were, as it turned out, mis-sold an "extended warranty", which was to run for the life of the loan, and, advised this was needed to secure the loan, but that it "would be shown separately for clarity".
Fast forward 2 years, and I requested this cover be removed, as, mis-sold, not fit for purpose, which I was advised they had done, and credited back. then, for a number of reasons, I requested a voluntary termination, I believe we were on month 27, so, past the 50% they required. They collected the vehicle, and, send a figure out. This included the previously removed and credited extended cover, and, a shortfall in the amount paid, requiring an amount to be paid to bring it up to 50% of the value. I queried this, and, the cover was again removed, however, only from the final figure. They had not credited it, and, removed the amounts for the insurance from the payments I had made (I say "I" as I am the only person ever to make a payment on this account). This of course skews the figures in their favour, however it was clear they had done this. I sent in an official dispute notice, and was advised it was being looked into. I heard nothing further so, foolishly presumed they had recalculated it and that was that.
September of this year I am advised by my employer that there is an attachment of earnings, in relation to almost £2k, for Advantage Finance. At first, for 6 weeks, they refused to even respond to me, finally did, and, sent me all the relevant details. I questioned the fact they were only pursuing me, not both parties, as it is a joint loan. They claim to be doing so, however, as they have had to provide statements, up to the 27th November so far, there are multiple payments from me, including AoE payments, and, none for anyone else. I also know they discussed the account with her new partner, which, (I may be wrong), but, surely he has no right to any of my information? They claim not to be able to split liability, yet, are only coming after me, can this be right? Ironically, she has a better job than me, and has earned more, and, has been in sole possession of the vehicle until it was returned.
My request to them was simple, the account was in dispute until they recalculated it correctly, and, as such they shouldnt have proceeded. I was even making nominal payments prior to March 14. I was not informed of any further action, as, they decided to send documentation and notices to previous addresses, despite the fact they had my current address, as such, the first I was made aware of this was when my employer told me.
IF I had been aware, and, they had calculated it properly, and there was a shortfall (which would only have been through their charges, it would have been nominal, and, I would have cleared this. There was no need to go via courts, especially not for a false amount, although perhaps this is the reason they have done this.
Any thoughts would be greatly received
Thanks
Myself, and my (now) Ex-wife, took car finance on a vehicle, as it turned out with Advantage (this was done through a broker type, I believe called Car Loans 4 U. At the time, she was a student nurse, I was working. It was a 48 month loan, at a "decent" rate given our circumstances, and, that was it. We were, as it turned out, mis-sold an "extended warranty", which was to run for the life of the loan, and, advised this was needed to secure the loan, but that it "would be shown separately for clarity".
Fast forward 2 years, and I requested this cover be removed, as, mis-sold, not fit for purpose, which I was advised they had done, and credited back. then, for a number of reasons, I requested a voluntary termination, I believe we were on month 27, so, past the 50% they required. They collected the vehicle, and, send a figure out. This included the previously removed and credited extended cover, and, a shortfall in the amount paid, requiring an amount to be paid to bring it up to 50% of the value. I queried this, and, the cover was again removed, however, only from the final figure. They had not credited it, and, removed the amounts for the insurance from the payments I had made (I say "I" as I am the only person ever to make a payment on this account). This of course skews the figures in their favour, however it was clear they had done this. I sent in an official dispute notice, and was advised it was being looked into. I heard nothing further so, foolishly presumed they had recalculated it and that was that.
September of this year I am advised by my employer that there is an attachment of earnings, in relation to almost £2k, for Advantage Finance. At first, for 6 weeks, they refused to even respond to me, finally did, and, sent me all the relevant details. I questioned the fact they were only pursuing me, not both parties, as it is a joint loan. They claim to be doing so, however, as they have had to provide statements, up to the 27th November so far, there are multiple payments from me, including AoE payments, and, none for anyone else. I also know they discussed the account with her new partner, which, (I may be wrong), but, surely he has no right to any of my information? They claim not to be able to split liability, yet, are only coming after me, can this be right? Ironically, she has a better job than me, and has earned more, and, has been in sole possession of the vehicle until it was returned.
My request to them was simple, the account was in dispute until they recalculated it correctly, and, as such they shouldnt have proceeded. I was even making nominal payments prior to March 14. I was not informed of any further action, as, they decided to send documentation and notices to previous addresses, despite the fact they had my current address, as such, the first I was made aware of this was when my employer told me.
IF I had been aware, and, they had calculated it properly, and there was a shortfall (which would only have been through their charges, it would have been nominal, and, I would have cleared this. There was no need to go via courts, especially not for a false amount, although perhaps this is the reason they have done this.
Any thoughts would be greatly received
Thanks
0
Comments
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It's gotten so far, I'd go to the financial ombudsman.Credit 'Score' - Don't buy the credit 'score' that Experian, Equifax and Noddle want to sell you. It's an arbitrary number that means nothing when it comes to applying for credit.
ALWAYS HAVE A DIRECT DEBIT SET UP FOR THE MINIMUM PAYMENT ON YOUR CREDIT CARDS, REGARDLESS OF WHETHER YOU PLAN TO LOGIN AND PAY EACH MONTH.0 -
thebritishbloke wrote: »It's gotten so far, I'd go to the financial ombudsman.
Thank you, my local MP has actually picked this up and that was his suggestion too. Absolutely crazy company this one. Its blindingly obvious what they have done, or not done, yet, they are refusing to interact or discuss
I actually believe there is a personal relationship there between someone and my ex :cool:0
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