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dx100uk

Moneybarn pays more than £30m to customers after failing to treat them fairly when they fell behind on loans

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The car finance firm, owned by Provident Financial, voluntarily handed the money to all 5,933 customers potentially affected by the breaches, which occurred between April 1, 2014 and October 4, 2017. It was also fined £2.77m by the Financial Conduct Authority for the way it behaved.

The FCA said Moneybarn's actions meant more than 1,400 customers, many of whom were vulnerable, defaulted on their loans after entering into 'unsustainable short-term repayment plans'. This meant that they were punished with extra fees and charges, which many could not afford.

https://www.dailymail.co.uk/money/markets/article-8013573/Moneybarn-pays-30m-customers-failing-treat-fairly.html

 

dx

 

  • Thanks 2

please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, the whole DCA industry would collapse overnight.

 

 

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