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Can anyone tell me if it is legal for a finance company to issue a default and threaten repossesion if the account is in dispute and payments have been stopped pending a complaint being dealt with by the Financial ombudsmen regarding miss sold PPI on a car finance agreement?
thanks .
Can anyone tell me if it is legal for a finance company to issue a default and threaten repossesion if the account is in dispute and payments have been stopped pending a complaint being dealt with by the Financial ombudsmen regarding miss sold PPI on a car finance agreement?
thanks .
I am not a legal mind but I believe a Default Notice should not be issued when an account is in dispute. I will try and point you to a legal forum for more advice on this subject....
Could not find a matching forum but this is a good link which will perhaps help your case..
I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner. ------------------------------------------------
Bank charge successes:
Halifax - Full settlement incl interest.
HSBC - Settlement, goodwill no admission of liability about 75% of claim.
RBS - Settlement, goodwill no admission of liability about 70% of claim.
2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did
PPI Successes
PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.
2 claims settled in full with LV without FOS involvement.
2 claims settled in full with HSBC without FOS involvement
PPI Claims ongoing with:
Cap one Now with the FOS
Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.
LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc
Please do not PM me for advice as it may be sometime before I can respond.
Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.
Thanks Alana, i have also found a page on the financial ombudsmen's own website that states that a finance company or bank against which a complaint has been made, must cease all legal action or recovery/collection proceedings until the fos has closed they're file on the complaint so once again the company in question continues to ignore the regulations that they themselves signed up for..
Btw i would like to point out that this complaint has been with the FOS for almost 2 years now and has been at the negotiation stage for 3 months with the company in question making one insulting goodwill offer without admitting liability, i refused the offer and continue to await news from the FOS.
Whilst a complaint is being investigated by the fos, the account becomes gridlocked and no action should be taken.
Many companies however, disregard what should or, should not be done.
In any event, if a Default Notice has been issued during the course of an FOS complaint, said default should not be registered with the CRA's as it would be meaningless in regard to ones creditworthiness; Unresolved Dispute.
Furthermore, the DN would be deemed ineffective as the amount stated as the remedy would be incorrect.
***Please be aware***
Payment on an account can only be suspended pending a fos complaint if the complaint is regarding banking issues or if you are in serious financial difficulties as a result of the PPI.
If your complaint is for mis-sold ppi and you are not in difficulties, the company you have the complaint against can and will default you and demand payment, this was made clear to me by an FOS case worker so bear that in mind as the FOS website info is a little misleading in my opinion.
issuing a default while account is in dispute
and payments have been stopped pending a complaint being dealt with by the Financial ombudsmen regarding miss sold PPI
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Originally Posted by gavv8
Re: issuing a default while account is in dispute
