Close Brothers Motor Finance Complaint Payment

king_irc

Hi,

I’ve just received a letter from Close Brothers regarding a previous agreement that was finished about 2 years ago. 

They claim to have completed a review (different from the current commission agreement issue), and have identified a mistake in the way they treated me during a period of financial hardship.  The only instance I can think of was when payments were deferred during Covid, as otherwise there have been no issues.

Anyway, this internal review has identified that there was mistake (their word), and that this mistake may have lead to further hardship, and as a result, they are paying out £50 direct to my bank. The letter contains valid bank details, and agreement number and have requested no action in my part - and to expect payment within the next 15 days.

i have confirmed this direct with CBMF on their website, where they have created an FAQ.

My questions are:

What is this mistake that they have made
Should I reject this payment and make a formal complaint (a path that they have offered)
Should I just accept this as I wasn’t even aware of a ‘mistake’?

Thanks for your responses

born_again

Take the funds. A complaint will not get more. Aware a not, never look a gift horse in the mouth..

Odds on this is the result of a FCA directive that several lenders have undertaken.