the funding corp worst company ever!!!

[andyw76]

Originally Posted by stitchcrazy

Hi. I am new today to this site and what has drawn me to register is the amount of complaints about The Funding Corp. I too have been having big problems with them, too many silent calls, constant day and night on landline and mobile,rudeness from staff when they do actually speak to you, having the phone put down on me when I stood my ground,and even a letter that they have charged £45 for. I have made a complaint to the BBC Watchdog Programme but I do not think anything will be done through them unless other people feel as strongly as I do about trying to get them to apologise and admit their mistakes. I shall continue to get as much info as possible regarding this company and see how far that I can take this matter. hope anybody else in this situation with the funding corp doesn't give up.

Hi Guys

Well i sent my £75 off to court today to set aside judgement so hopefully I will hear back soon on a date for the hearing. I'm taking these monkeys down I tell you !

Andy

[sdr2211]

Hi
Just thought I would use my first post ever (!) to let you all know that I have had so many problems with the Funding Corporation over the past year (including possible court action which they negated because they didn't file on time) and a large debt on a vehicle that a)I no longer have and b) they sold at auction over twelve months ago that I have filled a formal complaint about the company with the Financial Ombudsman. I got absolutely nowhere with the company when I complained. I will let you all know how it goes but it could take sometime as the reply letter from the Ombudsman's office said they were struggling to keep up with demand.....

[andyw76]

Sounds just like the same crap I have had with them. I am awaiting a hearing date now, unless of course they decide not to pursue it since I know I am right !!

Andy

[stitchcrazy]

Hi guys and gals.
Hubby and I are reading the comments about The Funding Corp with great disgust. Some of you have been doing battle for ages, we are only just starting. I hate to think what some of you have been going through reading between the lines. I can only imagine having had a gut full of them already. How on earth does a company with practices like this worm around everything when it is obvious from the many complaints that WE can't all be wrong. All I can say at the moment is Good Luck to everyone out there with a gripe against TFC. I am wondering now just what we have got ourselves into although I don't think I will be giving into them.
Any advice on the harrasment would be great as I contacted our local police and they said to contact trading standards co's as far as they knew the silent string of phone calls etc did not come into the harrasment bracket and no offence had taken place, but that T S may be interested in their practices. Any Ideas.?


stitchcrazy

[andyw76]

Well believe it or not people I have had an apology letter from TFC this morning, basically admitting their incompitence. Not sure how this will affect my up and coming court case with them but has to be in my favour.

Andy

[wino]

Hi everyone. I thought I'd bought a car on HP through the Funding Corporation. My business went into liquidation and I thought they would just reposses the car.

Eventually they told me that it was a personal loan I had with them and the interest was stacking up. They took me to court to put a charge on my house. I went to court and spoke to their solicitor who told me not to worry it's just to guarantee them the money if I sell the house. They didn't tell me about the massive interest that would continue to accrue

I had a £6,500 loan (apparently) Just before the court date I was told they would settle for £9,500. We remortgaged within 6 weeks of the last figure. Our solicitors paid them £ 11,500 final settlement.

I do not have a copy of the CCA. Their solicitor did not present one in court she said it was back at the office and she would send me a copy. I have never received any statements or copy agreements from the FC.

I've got a feeling that they do not have a CCA. Where do I stand now as we have already settled.

If only I had found this site and read it sooner

[winn&growler]

hi all, i had a car written off with the funding corporation about 3 mnths ago, and had no problems what so ever, the insurance company offered an amount for my car. it was undervalued by the insurance company. but i was assisted in every way through the whole process by a very helpful member of staff. My Gap insurance covered the shortfall in full and i had nothing further to pay, i also maintained my account as advised untill the insurance company and my finance company the funding corporation sorted it all out between them, all i did was sit back and relax. I am a little concerned that most of the people on this forum have in some way missed or stopped paying with the odd exception, which as my father (whos a solicitor) advises me is a breach of contract. and its not surprising that if you did stop paying them that they would have to take alternate action. I do think the apr on my deal was quite fair as well. i really cant see where some of you are coming from regarding the issues you have if you stop paying, you reap what you sow. :o

[joedee2k]

want to add we also are having problems with the Funding Corp, which the cit advice is dealing with on our behalf, we have also missed payments - although we have never fallen behind, as always pay up, albeit a little late once or twice, and the phone/text letter harrassment is shocking. We have caller ID now specifically to screen Funding corp! we have had tonnes of answer machine messages and silent calls, also VERy rude people to deal with, they also took payment without authorisation or direct debit as they had bank details given for a previous payment, went to the bank one morning to find money gone! i kid you not.
We too are also debating money owed for a vehicle long since returned and agreed with them, no word for nearly 8 months, everything sorted??? nope - £5000 bill thank you very much.

[dantesoloman]

hi, i used to work for tfc, i hated the company when i worked for them and even more so now. quite frankly they are an utter disgrace, i will never recommend this company to anyone. the individuals who run the company from the top are quite frankly some of the most crooked people i have come across. if there is anything you would like to know please let me know. As i am pursuing a claim against them myself

[Loobylou8]

Got a motor loan from them - not secured on car. Sold car due to financial difficulties and kept up the payments on the loan. Missed a couple of payments on the loan and I agreed with them to take reduced payments. Got a statement of the loan through and the amount had increased by £2000. Called them and they said the loan had been rescheduled which meant more interest as it was over longer period of time. Person who agreed reduced payments did not say anything about "rescheduling" or more interest etc. I have not signed any paperwork for this (it is in my husband's name, but he has never spoken to them). Does anyone know if this is legal? Should my husband have been asked to sign some paperwork? If there is no signed paperwork will the loan be void and return to the previous amount? Can I claim for the charges through Small Claims? I live in Scotland and am desperate from some sound advice - please help.

[Loobylou8]

Got a motor loan from them - not secured on car. Sold car due to financial difficulties and kept up the payments on the loan. Missed a couple of payments on the loan and I agreed with them to take reduced payments. Got a statement of the loan through and the amount had increased by £2000. Called them and they said the loan had been rescheduled which meant more interest as it was over longer period of time. Person who agreed reduced payments did not say anything about "rescheduling" or more interest etc. I have not signed any paperwork for this (it is in my husband's name, but he has never spoken to them). Does anyone know if this is legal? Should my husband have been asked to sign some paperwork? If there is no signed paperwork will the loan be void and return to the previous amount? Can I claim for the charges through Small Claims? I live in Scotland and am desperate from some sound advice - please help.

[Itsyandbitsy]

Many thanks for ur advice dantesoloman... I will check the paperwork and let u know how i get on

[steveoram1]

Hi all. Am also with this fine company. Missed 1 payment in December and had the usual letters, calls etc. I am only 1 month short of being halfway through agreement and asked the last obnoxious caller to send me a breakdown of what is required to voluntary terminate the agreement (1 payment!). Everything changed at that point - they are now being very nice to me and have offered to put the missed payment on to the end of the agreement so no overpayments etc. required. These companies are terrified of getting the car back halfway through as they sell at auction and only realise about a third of what is still owed by you.

[andyw76]

Court date 10th April guys so wish me luck - unless of course they pull out just before

Andy

[toneighty170]

All the best Andy, I will be eagerly waiting for you to post the outcome.

I have just done a google seach on them again and found out Asda uses them for their customers loans. So I have contacted asda to inform them what type of company they use and told them I will not be shopping with them again until they change company - in a very polite manor.

ASDA

If you fancy doing the same the link is above? I know it is very small thing and have very little impact but....

[Loobylou8]

Originally Posted by andyw76

Hello all

I am new to this site but I was glad to see people ranting about The Funding Corporation.

I am just about to go to court with these guys who are trying to claim the balance of the finance I had out on a car I got from Carcraft – Yes I know – bad move !

The car was £4,700 on the forecourt, I paid £99 deposit but walked away with a loan of £11000 to pay back over about 5 years.

I paid over half the outstanding balance over 2 and a half years and decided to exercise my right as a consumer and ask them to take the car away which they did but now a year on I have received court summons for the balance of £5000 odd for a car that I do not have anymore and which they sold to auction for £800. They are trying to put a claim on my property so that if I sell up they get their share!

Any advice from anyone?? I am going to fight this.

I also think the staff are rude and obnoxious and the bombardment of calls and letters is soul destroying!

Regards

Andy

If the car was on HP you can voluntary terminate your agreement when you have paid half of the overall amount due. If the car was on a motor loan this is not secured on the car, but merely used for the purpose of buying the car. My agreement was for a motor loan and so I was able to sell the car. Did the Funding Corporation provide you with a figure for final payment prior to acepting the car back? I had volutary terminated an agreement with another company and was half way through the agreement, but was one payment short of half-way, they accepted the car and I was liable for the last payment and collection fee only - Black Horse was the company and although they are a nightmare for loans, their voluntary termination department were excellent. I would strongly recommend that you contact the Consumer Credit Counselling Service (Google the name for their number) who are a free advice service regarding debt management (like Payplan only better) and will provide you with the reliable information you need - I followed their advice and my situation was resolved well. Good luck

[stitchcrazy]

GOOD LUCK ANDY.
Hope the case goes well. With the reputation this company carries they probably will pull out just before.

We are awaiting for some information from Trading Standards at present, but our kettle is still on the boil.

[stitchcrazy]

I to have done similar to you. I have written to Subaru uk (Well known name) and told them exactly what they are dealing with. Although ,did recieve a reply back from them to say that they no longer deal with TFC.
I guess that tells us something then. Just waiting for another response from Subaru as they are looking into the situation and will keep us informed.
If not I will be contacting them and pushing, as I am sticking to 14 day turnarounds on my mail, other wise we could be waiting for months.

Contacting these people may seem to be small things and have very little impact, but at least the mssage is getting out there.

[andyw76]

Thanks for the support stitch, I'm standing my ground so I hope they do pull out !

[moggieb]

My son bought a Renault Clio in March 2006 through the Funding Corporation. Repayments were £335/month over 5 years!!!!!!!!!! This of course includes the inevitable PPI. He surrendered the car back to them in Oct. 06 as he couldn't afford the repayments (partner-now ex) lost her job, mortgage payments went up etc etc). He is now paying £110.00/month (which was negotiated through a debt management company) for a car he no longer has. I am absolutely furious that companies like this can take advantage of the people who can least afford it i.e. young ones who know no better & those who are unfortunate to have a poor credit history. Anyway, we have cancelled the DMP (as they were a fee-paying one) and have sent a S.A.R. to The Funding Corp to see whats what. Andy-much luck. I truly hope you succeed against these..........