Could your car finance be cancelled and the debt cleared?

If you have a car with an outstanding finance agreement you may be able to claim to have the remaining balance cancelled. If a car finance agreement is unenforceable the lender may be forced to write off the debt with the possibility of you keeping the car. When you arrange car finance the agreement, contract and/or terms and conditions relating to the finance need to comply with all the relevant rules, laws and regulations. Even if you have ‘paid off’ your car finance in full, we may still be able to claim maximum compensation retrospectively.

How do we do this?

When you signed your car finance agreement it was the lender, not you, who produced the contract that was to be used. In most circumstances you would have had no choice over the terms within the agreement.

It is the finance company’s responsibility to you, the consumer, to ensure that all aspects, all terms and each section of the agreement fulfilled the required rules and regulations. If they failed in this duty to you then your car finance agreement may be unenforceable.

Underwriting (Vetting)

Our internal underwriting (vetting) department will assess each of the submitted applications. Where underwriting (vetting) believe there is a reasonable chance of success a ‘yes’ decision will be made. Where underwriting (vetting) believe that a successful claim is unlikely a ‘no’ decision will be made. On occasion a ‘possible’ decision may be returned. This often means that there is not enough information about the lender's contracts to be able to make a firm assessment at this stage and sight of the information held by the lender is required before a final assessment can be made.

Instructions - How do you get your car finance reviewed?

Contact us at:
t: 0845 409 3520
f: 01772 200127
e: info@help4upreston.co.uk

Our representative will meet with you at a time and place of your convenience. It is the representative's job to ensure that you understand exactly how we work and take you step by step through the paperwork. You decide which products you wish to proceed with.

The cost of a Motor Finance Client Review is £495, which is refundable should your case be unsuccessful (subject to Terms and Conditions).

Investigation

In accordance with the provisions of the Data Protection Act, our processing team will now contact the lender to obtain your ‘client file ’, including the contract / agreement relating to the loan. Where the lender does not comply, an offence is committed and our solicitors will use the full power of the law to obtain this file.

Solicitor

With the ‘client file’ in, a further assessment of your case will be made and a specialist solicitor will be assigned where we believe you may still have a successful claim. Your solicitor will build a case, based around contract irregularities looking to obtain the maximum level of compensation for you. While many cases are expected to be settled ‘out of court’, should the need arise to take the lender to court, our solicitors will purchase, at their cost, a legal expenses insurance policy and obtain expert barrister's opinion where required.

Payment

When a motor finance claim is successful you will receive a cheque for the full amount of compensation awarded.