Santander “lost” my car finance payment

Ethbr1

Hi

This is my first time here and I wanted to know if anyone can advise a course of action to this horrible situation.

So in November 2017 I was driving my car on the motorway and I was hot from behind by another driver. He accepted liability and his insurance company paid out. My car was a write off and no one was hurt thankfully.

Moving on, I contacts my insurance company and asked what was the policy with paying out for the vehicle. They informed me that they would pay out the current value of my car directly to the finance company Santander via cheque.

The amount to pay was £6999 which left about £400 left to pay off the remaining finance amount. So I expected to continue 2 more months of payments to Santander from my account.

Moving on 4 weeks I began to get letter from Santander about being in arrears. So I called them and told them about the large payout and the car being written off. They told me they did not know about any payment or car write off.
So I contacted my insurance company and asked them if the money had been cashed by Santander and they said yes 1 month ago.

So I called Santander and gave permission for my car insurance company to talk with them on my behalf. Santander denied all knowledge of any payment to my finance agreement.

Fact: the finance agreement number had been written on the back of the cheque from LV to Santander and LV made me aware that this amount of money had been cashed by Santander.

I am currently awaiting the physical image of the cheque from LV to prove evidence that they actually did send the cheque this takes between 6-8 weeks apparently.

So I am being chased but Santander for money they have obviously placed towards someone else's finance agreement. Why would LV lie about money being cashed by Santander. Especially since they got the finance agreement number from Santander via my vehicle registration number or some database.

So for sure I know I'm in a win win situation as either LV are lying or Santander made a massive mistake.

I want to 1. Get compensation and also this smells like a breech of FSA rules somewhere.

Can anyone advise where I can turn??

Many thanks in advance.

molerat

All very good until the third line from the bottom.

[Deleted User]

It's an admin error. No lies, no conspiracies, no cover ups.

It will get sorted. You might get £50 goodwill but there will be no need for compensation as you won't have suffered a loss.

It doesn't breach Food Standards Agency regs, or even FCA regs as long as they sort it out.

DCFC79

OP

1 tip I have for you is to post it only once, let the board guides or other posters decide if its more suited to another part of the forum.

Ethbr1

Ok thanks for the advice

Herzlos

Did you inform the finance company about the write off to get a settlement figure or have them expect the payment from LV?

Do LV have the correct reference number?

(I'm surprised they sent a cheque, I thought it'd have been electronic by now)

Ethbr1

I was informed that LV would be infom Santander of the write off

LV got the correct finance agreement number somehow as I confirmed with them if they had it and they said they have a look up system they also requested a settlement figure from Santander also.

[Deleted User]

You should check your finance agreement - I expect there is a clause where you are expected to notify them as it is a secured asset. You should have also continued payment as normal until it was confirmed it was paid off.

If it turns out you should have told them expect no compo and perhaps even some late payment markers on your credit file.