all in one finance - carcraft

Brock_and_Roll

See news release from Administrators:

NEWS RELEASE

Administrators appointed to All In One Finance Ltd

On Tuesday 12 May 2015, Daniel Smith and Joe McLean, both Partners at Grant Thornton UK LLP, were appointed as administrators to All In One Finance Ltd (AIOF), the finance arm of the Carcraft group.
This follows the appointments over CC Automotive Group, UK Car Group Ltd, Pennine Metals A Ltd and Pennine Metals C Ltd (which traded as the Carcraft Group).
AIOF is authorised and regulated by the Financial Conduct Authority.
AIOF provided certain loans to Carcraft customers to finance the purchase of the Carcraft Drive Happy Package, as well as to finance vehicle purchases.
Please note that AIOF is not in a position to stand in the shoes of Carcraft in respect of the delivery of the Drive Happy Packages.

Prior to the appointment of the administrators, some of the AIOF loans to customers have been sold by AIOF to certain third party companies (including Aktiv/PRA). Any impacted customers will have previously been, or will shortly be, notified of the sale of their account. If you are one of these customers, you should expect to hear from these parties in due course.
Customers who have loans with AIOF and are affected by the administration appointment will be shortly contacted directly, however we would encourage all customers to continue to maintain their direct debit payments whilst we work through this transition period to ensure the customers suffer no adverse consequences in the interim (such as incorrect credit reference agency notifications).
Please direct any queries in relation to AIOF, that do not relate to the ongoing monthly payments (which will be clarified as soon as possible and a further communication issued directly to the customers), to the following email address:
[EMAIL="allinonefinance@uk.gt.com"]allinonefinance@uk.gt.com[/EMAIL]


The long and the short of this is that the company has sold the loans on to debt collectors, which it is legally entitled to do. I have no doubt that all customers who had finance for their Drive Happy packages will be hearing from the likes of Activ Capital very soon.

Whilst the situation sucks, I am afraid that from a legal perspective the loan agreement is likely to be separate to the services contract - as such the debt collectors will be able to enforce payment with the normal risks to credit ratings and assets if people refuse to pay.

Brock_and_Roll

mykids4life wrote: »

Ive also contacted the obsuman and they are dealing with it also they no ive stopped payment and they havent told me to carry on.payin

The Administrators are telling you to carry on paying - see the press release. If you cancel your DD, as they say, you may already be damaging your credit rating.

patpatej

hi all i get this email from All in one finance

Good Afternoon,

On Tuesday 12 May 2015, Daniel Smith and Joe McLean, both Partners at Grant Thornton UK LLP, were appointed as administrators to All In One Finance Ltd (AIOF), the finance arm of the Carcraft group. This follows the appointments over CC Automotive Group Limited, UK Car Group Ltd, Pennine Metals A Ltd and Pennine Metals C Ltd (which traded as the Carcraft Group).

AIOF is authorised and regulated by the Financial Conduct Authority.

AIOF provided certain loans to Carcraft customers to finance the Carcraft Drive Happy Package (DHP), as well as to finance vehicle purchases. For the avoidance of doubt, AIOF is not in a position to stand in the shoes of Carcraft in respect of the delivery of the Drive Happy Packages.

Prior to the appointment of administrators, some of the AIOF loans to customers have been sold by AIOF to certain third party companies. Any impacted customers will have previously been, or will shortly be, notified of the sale of their account. Based on the company records the administrators do not believe you are affected by such a sale and that your loan remains with AIOF.

The administrators are aware that part of your loan with AIOF relates to the DHP previously provided by Carcraft. As the administrators of AIOF are unable to provide a suitable alternative to the DHP product, the administrators (without affecting any rights that AIOF may have against Carcraft) propose that a reassessment of your monthly payment is made to reflect the cessation of your DHP. This is likely to take the form of a reduced monthly direct debit.

The calculation of the reduced monthly payment will take time. Please continue to pay your existing direct debit whilst the reassessment of the monthly cost is completed, as returned direct debits can adversely affect your credit rating.

The administrators will work with their appointed collection agents to ensure that any payments made by you in relation to the part of your loan for the DHP which have been paid by you after their appointment are returned to you by way of a reduction in the outstanding balance on your loan and a reduction in your monthly payment calculation.

Your sincerely
For and on behalf of All In One Finance Ltd

robatwork

Here's some MS news for you:

A customer helpline has been set up at Head Office:

0800 923 9495

so while you're on hold finding out how badly you've been ripped off, at least it's free. Call from a landline.

On saynoto0870, carcraft are showing as 01706 752500 which is better from a mobile but it may no longer work of course.

xtwelvex

So if you're lucky enough to still be paying All-in-one finance then you may see a reduced payment. I suppose that's some good news but I bet PRA group won't do the same if your finance has already been sold on prior to them going into administration.

sebba

I spoke to All In One Finance on Friday - and they've assured me whether your loan is with PRA (as mine is) or AIOF, loans provided for Drive Happy plans will be reduced accordingly! Great news!

xtwelvex

That's good news. Just have to wait and see to what extent.

Ozpally

My loan is with PRA I have decided to stop paying and on top of that have claimed money back through DD indemnity scheme for all payments since the name change as I didn't have a clue to who they were. The AIOF loan was a unsecured personal one and I'm betting in most cases doesn't appear on credit reports. Its pretty much unenforceable. I'm sure they will get round to chasing sooner or later, I look forward to the conversations

eddr82

I spoke to all in one Monday last week and they told me that either the finance agreement was being written off or they were looking at other companys to take over and give us the drive happy package. I personally think it is a long shot for companys to take over, hopefully it will all bge written off and we can be free from all in one finance

Mooshell68

If you find out any thing about the dhp let me know as I'm in the same boat as you,why should we pay for something we won't be getting any more,they should reduce our payments as they can't honour the service plan anymore,please let me know if anyone finds out anything as we have not been contacted ether