Santander Car Finance Nightmare

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 actually I'm near enough sure that they have breached a rule.

Can anyone advise where I can turn??

Many thanks in advance.

Robin9

4 identical posts

Robin9

Please OP - dont post in 4 differeny threads

Ethbr1

Sincere apologies wasn't sure which one to post into

AdrianC

It sounds like there's been a genuine error somewhere along the line. The insurer and the lender should be able to sort it out between themselves quickly enough.

What do you want compensation for? Hurt feelings? A minor inconvenience?

paddyandstumpy

1. No compensation is due. You should be put into the correct position (i.e LV pay Santander and it’s creditited to your loan). Nothing else.

2. You can ask Santander to remove the default marker if you feel it was applied incorrectly. However, why did you stop paying; you said yourself there would be at least a £400 shortfall which was a couple of extra months payments.

3. The Food Standards Authority (FSA) won’t be interested in your complaint.

Ectophile

Forget compensation. You won't get any.

Make a formal complaint to Santander, if you haven't already done so.

If they don't come up with a satisfactory response, or don't respond within 8 weeks, you can go to the Financial Services Ombudsman.

arcon5

A physical image of the cheque doesn't prove Santander cashed it or even received it

Car_54

Ethbr1 wrote: »

Fact: the finance agreement number had been written on the back of the cheque from LV to Santander ...

I am currently awaiting the physical image of the cheque from LV to prove evidence that they actually did send the cheque ...

So how do you know it's a "fact"?

loskie

OP: From your post you say you were paid out by the other parties insurer. If that is the case your insurer will not and should not pay out. Otherwise you will have been paid twice.

Paddy: It's Food Standards Agency not Authority.

ess0two

Car_54 wrote: »

So how do you know it's a "fact"?

That's if the correct agreement number was wrote on the cheque?