Car finance reclaim question

NDJoll

Hi all

I have read MSEs guide and have prepped my email, however whilst i know the original dealer details from 2007 / 08, it was bought by another company 2016 so the wording of the email when it states '. As I had a finance agreement with your firm, I am writing for clarification on the following two requests:' is factually untrue. 

Does anyone have any guidance in this scenario please?

Thanks 

dunstonh

Does anyone have any guidance in this scenario please?

Wait until the FCA finishes the consultation and then for the lenders to put the tools in place.

no point jumping the gun until the FCA and lenders know what they are doing.

MyRealNameToo

NDJoll said:

I have read MSEs guide and have prepped my email, however whilst i know the original dealer details from 2007 / 08, it was bought by another company 2016 so the wording of the email when it states '. As I had a finance agreement with your firm, I am writing for clarification on the following two requests:' is factually untrue. 

Does anyone have any guidance in this scenario please?

People use lax wording when it comes to mergers and acquisitions. 

You mention dealer, do you mean dealer or do you mean finance company? You write to the firm that gave you the loan not to the company that sold the car. 

If the lender was actually purchased then you still write to the lender because they exist and have potentially just been renamed. Obviously if someone didnt buy the company but just bought assets from the company then things get more complex as liability may or may not have transferred. 

Ultimately the current proposal is that lenders will have to be proactive and reach out to customers including using tracing agents for customers that have moved etc. So unless you have gone off grid then they will contact you in due time (later next year)