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Fixed Sum Agreement - Car Purchase - Barclays Partner Finance HPI Flag
I'm hoping someone can shed some light on this situation.
My partner purchased a vehicle using Barclays Partner Finance, this is a FIXED-SUM LOAN agreement, unsecured, and there is no mention in any of the documentation about this being secured against the vehicle. Infact, as far as my research goes, it clearly states that with fixed sum unsecured loans, the vehicle is yours at the beginning to do with as you wish.
We recently came to look at trading the car in (whilst obviously continuing with the payments) and there is a flag on HPI showing "BARCLAYS UNSECURED". We obviously contacted barclays who refuse to remove the flag, even though they admit this is an unsecured loan. We have spoken to at least 5 individuals at barclays, 2 of which said "it's secured against the vehicle" - 3 of which stated "its not secured but the HPI is standard procedure".
Now, there is nothing within the loan documentation stating they would do this, nor is there anything giving them permission to do so as far as the data protection act goes. There is also, as far as i'm aware no statute in law to support their actions given the unsecured nature of the loan, and therefore i'm looking for advice on where to turn and how to resolve this as they seemingly will not budge at all.
If anyone has any experience or input i'd appreciate it.
My partner purchased a vehicle using Barclays Partner Finance, this is a FIXED-SUM LOAN agreement, unsecured, and there is no mention in any of the documentation about this being secured against the vehicle. Infact, as far as my research goes, it clearly states that with fixed sum unsecured loans, the vehicle is yours at the beginning to do with as you wish.
We recently came to look at trading the car in (whilst obviously continuing with the payments) and there is a flag on HPI showing "BARCLAYS UNSECURED". We obviously contacted barclays who refuse to remove the flag, even though they admit this is an unsecured loan. We have spoken to at least 5 individuals at barclays, 2 of which said "it's secured against the vehicle" - 3 of which stated "its not secured but the HPI is standard procedure".
Now, there is nothing within the loan documentation stating they would do this, nor is there anything giving them permission to do so as far as the data protection act goes. There is also, as far as i'm aware no statute in law to support their actions given the unsecured nature of the loan, and therefore i'm looking for advice on where to turn and how to resolve this as they seemingly will not budge at all.
If anyone has any experience or input i'd appreciate it.
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Comments
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Write to them and ask them to confirm in writing whether the loan is secured against the vehicle or unsecured."Facism arrives as your friend. It will restore your honour, make you feel proud, protect your house, give you a job, clean up the neighbourhood, remind you of how great you once were, clear out the venal and the corrupt, remove anything you feel is unlike you... [it] doesn't walk in saying, "our programme means militias, mass imprisonments, transportations, war and persecution."0
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I have done this, and they replied stating that it's unsecured but they have a financial interest in it. I really don't understand how they can do this.0
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Have you went down their complaints procedure?"Facism arrives as your friend. It will restore your honour, make you feel proud, protect your house, give you a job, clean up the neighbourhood, remind you of how great you once were, clear out the venal and the corrupt, remove anything you feel is unlike you... [it] doesn't walk in saying, "our programme means militias, mass imprisonments, transportations, war and persecution."0
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Just starting this procedure now. It seems lengthy. I just wondered if anyone knew whether a "fixed-sum unsecured loan" could be tied to property, as it seems contradictory in its very name. If it's unsecured then its unsecured, i'm not sure how they can have any financial interest in the vehicle.0
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Sounds very odd, keep the letter short and to the point.0
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