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the funding corp worst company ever!!!

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  • 4 weeks later...

I've just read with interest the posts on here. I've been one of the fortunate ones in that I've been able to make all the monthly payments since I obtained a car from ACF in September 2006. A total of 39 payments out of 50 I owe (due to be paid off in September 2011).


I obtained the finance at the time like a lot of people because I was not in a sound position financialy and had no choice. Both myself and my wife are in a much better position now. I'm currently taking action to reclaim the PPI from them at the least.


I have a couple of questions I'm seeking some answers for if anybody can help.


Can I legally terminate my agreement with them and hand the car back (voluntary termination I believe)?


Would I owe them any further monies after this?


Any help would be appreaciated and I wish you all the best in your ongoing battles.

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  • 3 weeks later...

I have previously posted on this thread and apologise if this is in the wrong place.


I have written to TFC and asked for a copy Credit Agreement along with a copy of the True Executed BoS. I sent along a £1 postal order for the Credit Agreement as instructed but asked in the letter how much they would require me to send in return for the BoS.


I sent the letter 5 Jan 10 recorded delivery and they have rec'd this 7 Jan 2010 I have rec'd a copy of the credit agreement but have not had any response to my request for a BoS.


Does anyone know how much I need to send in order to obtain this from them? I think the BoS is void from what I have read which maybe why they have not yet responded, as with others people's posts maybe they will admit the BoS is VOID!!!


Oh another thing to mention also is that just before xmas I rec'd a statement of my account from them, which I am continuing to pay, with a closing balance (after speaking with them on the telephone and advising them i was looking into the validity of the BoS) - I thought nothing of it and continued to pay my monthly amount.


Then I rec'd a letter from Red2Black Collections Limited (same address as TFC) another one of their companies advising that I must call and pay £7,000 immediately with no option of setting an arrangement. I have copied them in on all the letters i have sent to TFC recorded delivery and not hard anything back for them either.


Any response would be greatly appreciated.



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hopefully this will work http://imgur.com/I7iUC.png]http://imgur.com/I7iUC.png and http://imgur.com/V7GnT.png]http://imgur.com/V7GnT.png


I've tried opening them using this and they dont come out very clear, not sure if it's because they are in PDF format. I have posted them on here previously but just as attachements on the post - hope this helps.


Thanks for you help :-)

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So The Agreement Is For £4,050 Over 62 Months (very Strange) At £39.9 % Apr


So On That The Monthly Repayment Will Be £139.04

Interest £4601.44

total Repayable £8651.44



Now The Insurance


mechanical Breakdown £895

Monthly Payment £51.93

Interest £351.24

total Payable £1246.24


So We Add Car Interest And Insurance Interest £4952.68




Acceptance Fee £250

Credit Facility Fee ??? £195


Total £445


We Add That To The Insurance Of £4952.68 To Give A Total £5397.68


Now Add Cost Of Car £4050

Insurance £895


grand Total £10342.68


Devide By 62 Months Gives A Monthly Figure Of £166.81


They Have Screwed You By £484.32


Undisclosed Commission Me Thinks


Ill Confirm Figures In Daylight

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  • 3 weeks later...
  • 1 month later...
Well, after speaking to a real nice lady from cabot and explaining my dilema, and telling her that I had my gap insurance and credit agreement still, she said she would look into it and the debt should'nt be enforced.

This was some four months ago so I've checked my credit file and it says account settled in full and final but is short of the total balance.


Hopefully this is the end of it maybe....


Well, it's been nearly a year and all of a sudden a letter drops on my floor from cabot , its been nearly a year since I sent them my gap and policy docs to prove I don't owe anything.

I phoned them to yet again state that I owed them nothing and sent all relavent info over a year previously.

I got passed onto a guy who said theycould not get hold of me, even though I live at the same address with the same phone no.

He was trying to get me to admit the debt or pay some money, even a fiver but I kept telling him I owed nothing, he then threatened me with doorstep collection etc, but wouldn't let me go until I admitted the debt, which I did'nt because I don't owe anything.

I then checked my credit report which states that the account was settled as "Payment received as a full and final settlement although the payment would not fully clear the balance." and the account is listed as satisfied on the 23/12/2005 and the start date as 19/5/2004.

The default balance is also listed as £0 and the account listed as settled.


Can I stop these harrasing me by using the limitation act?

Maybe thats why the guy on the phone seemed so desparate for me to accept these fake debt.


Surely they can't chase a debt that is listed as settled on my credit file!


Please help, I'm sick of all these creditors getting in touch every year for me to tell them and send them the same documents...

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  • 1 month later...

Just a quick question on these people.


Mum & Dad bought a car from them some years ago. Dad retired two years ago, tried to cancel the PPI, and was refused. Since then, we've started action against the mis-selling of the PPI and the retirement stuff.


The account is clearly in dispute as it is lodged with the FOS and we are now awaiting the decision from the adjudicator (despite not seeing any of the evidence supplied by The Funding Corp which makes it almost impossible to argue or defend our case against them!).


Anyway, on the day we received a letter from FOS informing us that the case had now been passed on to the adjudicator, we received a letter from DCA called Red2Black which is based in the same office in Chester chasing for the outstanding amount. We have written to them to inform that while the account is in dispute we won't be paying them - and furthermore we will pass their letters on to the FOS as it is clearly an attempt to harrass my Mum & Dad in to either paying up or accepting possible lower damages (maybe even trying to get them to court so that the FOS has to throw out the case?).


The question then is:

Can they chase (and/or sell to a DCA) a debt that on an account that is clearly in dispute? Should I inform the FOS, OFT and others of this attempt to badger my parents?


Thanks in advance.

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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

my husband bought a car through this company in 2006 and took out gap insurance but was told he could not have the car if he didnt take out ppi. the was stolen around 6 months after purchase and the gap insurance did its job and we thought that was that. wrong! there was still money oweing on the ppi as they had paid this 5 years in advance unknowing to us and now want it back from us, even though we didnt want it the first instance.the sum started at 1000.00 and now stands at 5000.00 dont know where they get this figure from but have just started a claim against them for mis sold ppi .do you know if they have done this to anyone else

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my husband took out a car loan with tfc in 2006. we were told if we didnt purchase ppi we couldnt have the loan.we also took out gap insurance.6 mths after we bought the car it was stolen, the gap paid out and we thought that was that.nope! we still owed over £1000 for ppi which they had paid for 5 years in advance for which they didnt tell us this.we are now 4 years later trying to reclaim these ppi charges which tfc has very generously added another £4000 in interest.why would we need ppi if we dont have a car?

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