Section 75 claim on a loan: timeframes?

phonek

Filed a S75 claim with the loan provider last week (Novuna, prev. known as Hitachi Capital), as the goods/service provided by British Gas were not done as agreed. Novuna were BG's loan company, hence me filing my S75 claim with them for BG not supplying the goods/service as I agreed with them. 

Q: Is there a maximum timeframe for loan providers to make a decision on an S75 claim? 

...or can they basically take as long as they want? 

I'm stuck with potentially having to get another installation company to fix the work BG did wrongly that's currently driving me nuts. So I'd like to know how long maximum I might be kept waiting by the loan company on deciding yes or no my S75 claim with them. 

TIA. 

born_again

There is no timeframe for a decision being made. They take as long as they take. Usually you are looking at months not days.
Due to having to review ALL T/C & work out any breach of contract &/or misrepresentation. 

Mark_d

Section 75 is a provision under the Consumer Credit Act 1974 which makes the credit provider jointly and severally liable. Have you taken them to court based on this liability, or simply reminded them about it?

phonek

born_again said:

There is no timeframe for a decision being made. They take as long as they take. Usually you are looking at months not days.
Due to having to review ALL T/C & work out any breach of contract &/or misrepresentation. 

On two completely unrelated issues (1 and 5 years ago), I've previously done S75 claims on credit cards which only took a couple of weeks to agree and refund me. 

phonek

Mark_d said:

Section 75 is a provision under the Consumer Credit Act 1974 which makes the credit provider jointly and severally liable. Have you taken them to court based on this liability, or simply reminded them about it?

I know the credit provider is liable, hence me filing a S75 claim with them (via email). I obviously phoned them first to ask how to claim, they have then emailed back to say claim received, and is being given to claim handler who will contact me 'shortly'. 

Not sure what you mean by the taking to court sentence in bold. I simply filed an S75 claim with them? 

born_again

phonek said:

born_again said:

There is no timeframe for a decision being made. They take as long as they take. Usually you are looking at months not days.
Due to having to review ALL T/C & work out any breach of contract &/or misrepresentation. 

On two completely unrelated issues (1 and 5 years ago), I've previously done S75 claims on credit cards which only took a couple of weeks to agree and refund me. 

Some can take weeks, but depending on how complex can be months..

Have settled some on the phone when customer calls in, as amount is so small it is not cost effective to pass on 👍

phonek

born_again said:

Some can take weeks, but depending on how complex can be months..

Have settled some on the phone when customer calls in, as amount is so small it is not cost effective to pass on 👍

As it's a loan, and I'm supposed to be making monthly payments to this loan company each month, can I request them suspend these payments until they've decided on the S75 claim?

(Obviously, I won't just stop making payments without agreement from them; as that'd cause credit file issues.)

DullGreyGuy

phonek said:

born_again said:

Some can take weeks, but depending on how complex can be months..

Have settled some on the phone when customer calls in, as amount is so small it is not cost effective to pass on 👍

As it's a loan, and I'm supposed to be making monthly payments to this loan company each month, can I request them suspend these payments until they've decided on the S75 claim?

(Obviously, I won't just stop making payments without agreement from them; as that'd cause credit file issues.)

You can ask them to, they're under no obligation to oblige. 

phonek

DullGreyGuy said:

You can ask them to, they're under no obligation to oblige. 

Thanks for replying. Is that written somewhere legally (either in law or the loan contract)? 

DullGreyGuy

phonek said:

DullGreyGuy said:

You can ask them to, they're under no obligation to oblige. 

Thanks for replying. Is that written somewhere legally (either in law or the loan contract)? 

Otherway around, if they were obliged to it would be written in Law or the contract. If neither say anything then it's their discretion. There is no law that says they have to, never seen a contract that says they have to but can't read your contract from here obviously.

phonek

Worth noting that the Section 75 news article on this site, makes little to no mention that it applies to other credit types like purchase loans of this type, especially with regards to what rights you have as how firms handle them: 
https://www.moneysavingexpert.com/reclaim/section75-protect-your-purchases 

It's almost all about how S75 applies to credit cards.