Who do I contact if I have a complaint against a finance house?

Your first port of call is the person that you originally dealt with. Ask them for their job title and then get the name of the person who handles complaints in the company so that you are able to take matters further. If you are dealing with a finance house they are very likely to have a complaints procedure, and you should ask for details of this.

Whatever your complaint, you should put it in writing. Put the word "complaint" at the top and make the letter as concise and to the point as you can. Set out the facts clearly and tell them what you would like them to do as well as explaining your problem with what they have done. Be clear on the first point, because the company will find it easier to deal with your complaint if they know what compensation you require. Your account number or customer number should be at the top of the letter and you should put the facts in chronological order, and make them relevant. Keep all correspondence on the issue, and any related documents.

The company has to do one of two things eventually. They will either send you an offer of some form of compensation that you will be happy with. Or they will send you a letter of deadlock, which admits that they can't help you. You can then escalate the issue to the Financial Ombudsman, but only once you have received the deadlock letter, unless your complaint has not replied at all within 8 weeks. The government set this up so that they can settle disputes between customers and financial firms. The decisions made by the Ombudsman are binding on the company, but not for you. This means that if you don't accept the Ombudsman's decision you can go to court. The ombudsman is free to use as well.

However, don't make the mistake of thinking the service is a way for you to make money. Instead, its aims are to put you back in the position you were before whatever you are complaining about occurred. The Ombudsman will also tell you if you have already been offered fair compensation or have been fairly treated.

Since the Financial Ombudsman service doesn't actually cover general insurance, you may be wondering why you need to know about finance houses on a website about motor insurance. Well, in order to buy a car, you may have used a finance house, or you may not be covered for damage, and need to use one in the worst-case scenario.

After you've received the letter of deadlock from the firm with whom you have a complaint, you have six months within which to contact the Financial Ombudsman Service.

http://www.financial-ombudsman.org.uk/

 

 

 

 

 

 

 

 

 

 

 

 

 

 

© AskFinancially.com 2008

Motor Insurance

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