the funding corp worst company ever!!!

[wendy875uk]

HI,

Need as much info here as possible please,

I had a landrover freelander in june 07 on finance with this company, in dec 07 the head gasket went, lucky for me it was under warrenty so it got repaired but I then found out that this is a big problem on these vehicles and every head gasket will go,,,,,when it got repaired I was happy and didn't worry too much about this problem until a few weeks ago I started to loose coolant,,,,,to cut a long story short, its on it's way out again and I want it replace by the finance company,,,I think thats my right???? anyone had any experience of this with this company......any info is much appreciated, thanks in advance.

[JonCris]

deleted double post

Edited July 31, 2008 by JonCris

[JonCris]

Wendy Google Preloved Freelander Head Gasket Failure You'll be amongst many thousands of other victims on a free to use site where the info & advice is specific to your problem

[andy770blue]

Hi,just to let you know this company SUCKS!!!,they put me through 4 years of hell,they made me feel suicidal many times.

They Added on so many charges you wouldnt believe,i am glad the loan is nearly paid off now so the harrasment will stop,at one stage i was getting about ten calls per day.

They used to make threats all the time of re-possessing the car,I have heard they have gone into liquidation i hope its true.

The Customer service team are all rude and speak to you like ****!!

I dont think they would speak to my face like that or they know what they would get.

I thought i was alone in this sort of treatment it now makes me feel a bit better that many others have suffered from these cowboys as well

hope you all get it sorted guys

[nish40]

Hi All, been quiet here lately regarding TFC, but good news comes to those who wait. I've had my phone call from the legal team dealing with my case, and although there is still no word from TFC (trying to ignore the solicitor), i have been advised that my case is being poured over by Barristers as we speak, along with....wait for it................................................................wait for it......................................... 195 other cases (thats the first wave of pending court cases). It is that far advanced, i have stopped the remortgage on my house, so the charge on my property doesn't get paid off.

Also, on a well known website where you have a group and have friends and can email them, well i have a friend USED to work for them, they left because of the way they treat customers, well she told me they are going under, as their main backers, Barclays, have refused to loan them any more funds

[JonCris]

All these sub prime companies are backed by the prime lenders

 

Double bite at the cherry for the prime lenders as even if they default you & force you into the hands of their sub prime lenders they earn even more

 

One of the principal reasons for the quick expansion of the sub prime market

[toneighty170]

I have had a look at their accounts which are posted on their website.

 

I am no accountant but comparing ther latest figures to the ones in the previous year it appears that their account balances are slashed. The last number of months the figures have declined rapidly from last year.

 

Just hope that my very humble knweldge in accountancy is correct

 

:-D:-D:-D

[jakemate]

Hi, I bought a car with the funding corp about 4 years ago....

I also took out there gap insurance too.

The car was written off in a non-fault accident only six months later so both the insurance company paid out for the car but the gap insurance refused to pay the full remaining amount.

This left me with just under 2 grand that they wanted me to pay.

I obviously refused as the gap insurance and my own insurance should cover the total amount outstanding.

Four years on and I get a letter from a company called cabot finance.

The funding corp have sold my so called debt and now it is 5700 pounds!!!!

I rang them and explained that the gap insurance did not cover the price of the finance as stated but they are not interested and are proceeding with there collection dept.

I still have my gap insurance and credit agreement documents as I knew something like this would happen

I had full gap and fully comp insurance so how on earth can this happen and how do I get out of it??

[aj84]

Did you get back anything from GAP in terms of letters or the like?

 

I wrote my car off back in 05 and having the car only for 1 year 1 day, you can imagine how much was still left to pay!

Insurance paid out 5000 and GAP paid out the remaining 1500

 

I had to ring them up and tell them...they in-turn asked for the insurance details from norwich union (accident details, quotation etc)

Within a week, everything was settled and I had a cheque from both.

 

Having said that, I did not have this car on finance

 

I know on some GAP site (if you dont get it from the dealership at the point of purchase)

there are a number of ways to get GAP

 

One is return to invoice, return to value, return to finance etc

 

Do you know what you had? I would have thought the return to finance would pay the finance company the shortfall of what insurance give out and the remainder to be owed to the finance company

[jakemate]

The company that sold me the car also sold me the gap insurance at the same time, It dos'nt say what type of gap insurance it was but they left a shortfall of 1500 quid.

I wrote to the funding corp and told them my gap insurance and car insurance details and heard nothing of it until now, four years later...

[JonCris]

Gap insurance is as the name implies intended to bridge the GAP between the vehicles value & the amount outstanding on HP.

 

It's called insurance because the company which provides it takes the risk that the amount if any isn't to great

 

Anything else isn't GAP insurance & if that's what was said at the time of purchase they misled you

[stafford phil]

hi

i'm sure this has bieng asked a million times

but here i go anyway

bought car 3.5 years ago i had ccj's so it was the only way to get car i needed for work was given the deal and at the time this seemed ok untill about a year ago when we decided we should look close at athe agreement to our shock there was a lot of surprises first the gap insurence:eek: £4.468.03+ interest of £2,591 after you add on waranty and a ppi total cost of £8,157 the car cost 9,000 I feel that i was taken advantage of the car is now only worth £1200 and i still have 18 month to pay is there anything i can do

[gillypam]

Hi stafford phil.

give stephensons solicitors a ring tele 01942 777777 they should be able to help they helping us with our claim.

[drob]

Hi Stafford Phil,

 

Yes definately give Stephensons a ring they are also helping me with a claim against The Funding Corporation.

[whitevanman1965]

hi guys

sorry i havnt been on for a while.

im still battling with tfc.

ive still got the car, trading standards have advised me to make them an offer, which i have, only to be told by them that they want the full amount of £7500 plus an extra £2000 because i havnt paid them anything since march.

after a rather amusing conversation with a numpty from tfc, i told him that no way am i going to pay another £9500 for a car that only cost 6 grand after i had already paid them £11000.

so guess what?.

at long last they are taking me to court to recover the full amount.

come on tfc bring it on cos im ready

[drob]

It will be interesting to see the particulars of the claim, if and when you receive the court documents.

[nish40]

Hi Guys, well it's been very quiet here with me too. Things with Stephenson's been very slow, but just been advised of some good news.

My public funding has now been approved, and as my loan with The Frauding corporation is secured, it looks like things are going to move very quickly now.

At one point i was pulling out of legal action as i was fed up of the battling a bit, but then i just had to tell myself that if i pull out, they win a moral battle, so after talking to my solicitor, he has agreed it has been a bit slow, and has put my case as a sort of priority due to the timescale i have left to sort this out.

The end product is still the same, the loan hopefully should get wiped out, but for reasons i cant explain in public, i only have a limited time so it WILL be sorted soon heh heh

[whitevanman1965]

hey guys

heres a bit of info i just got from trading standards.

if the bill of sale has not been executed properly,the car cannot be registered on the hpi.

to find out about your car ask trading standards to do a hpi check,as they have the authority to check.

 

i just found out that my car is not on hpi,although on the vehicle log it does show that there is an interested party.......can you guess who?

 

this does mean that i could sell the car but i have sent tfc a letter with an offer of £2000 to close the deal and leave me alone.

 

lets see what happens next

[drob]

oooohhh that is interesting. TFC have admitted to me in writing that the bill of sale is invalid but they have registered the vehicle on the HP register as having outstanding finance.

 

I have asked TFC to remove the details with the HP register but they have refused. Which trading standards did you contact whitevanman??

[drob]

Anybody interested in the following?????????

 

http://www.thefundingcorporation.com/download/AdvertisementACFDirectSalesRepresentatieAug08.pdf

[whitevanman1965]

hi drob

 

i contacted west yorkshire trading standards.

their phone number is 0113 253 0241.

hope this helps you.

 

vanman

[whitevanman1965]

hi drob

they cannot legally put your car on hpi showing outstanding finance,because the bill of sale is void.

but like i said in my previous post, it can show an interested party, namely dick turpin & co.

contact trading standards and ask them to do a hpi check, they will also send you a copy of the results.

hope this helps.

i'll let you know if and when i hear anything regarding the "court case".

vanman

[Penny10]

Haha try working for the company...worst job i ever had! Fired for not checking a fax machine!!

 

On the Bill Of Sales front just to let you know all BOS's are taken and signed and witness by someone from the company with a solicitor based in Chester...i think they get fined if they aren't complete by a certain date, so are usually on top of it.

[JonCris]

If the borrower is not present then the 'witness' signature is irrelevant

 

A witness must sign in the presence of the borrower & vice versa (otherwise it can be argued they ain't a witness)

 

The document that is signed in the solicitors office is (or should be) a 'statement of truth' in which the witness avers to the solicitor that their signature was applied to the BoS at the same time & in the presence of the borrower. This must then be lodged with the court within 7 days of the date of the BoS

[JonCris]

Forgot to mention but if anyone other than the true witness avers to the facts the BoS & any other document resulting from it is not only void as it amounts to heresay but also may even be considered fraudulent