Wednesday, 27. January 2016
Now here’s a bit of information you should be aware of if you provide goods or services to consumers. Some rather swish rules came into force in 2013 called (deep breath) The Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013.
In the regulations, which have now been incorporated into the Consumer Rights Act 2015, they state that you must make a copy of your complaints procedure available to customers or you could be fined up to £5,000 and/or face prosecution.
If you weren’t aware of this you probably aren’t aware of your other responsibilities under these regulations so I would suggest that you check them out. Would a customer be able to return goods or not pay for services received because you didn’t conform to the act? Maybe, maybe not but I would certainly not want to be the one to put it to the test. By Graham Hill
Monday, 23. November 2009
Brokers don’t work for the leasing companies, they actually work for their clients, in the same way as an accountant or a solicitor does but without the need for a qualification, just a Consumer Credit Licence, which can be obtained fairly easily if the program about loan sharks aired by BBC’s Panorama is anything to go by. When I started as a broker, many years ago, the situation was the same, we worked for our Read more »
Monday, 26. October 2009
Over the last few months we have seen a great deal of activity in dealerships offering a greater variety of finance products to customers. Manufacturer provided finance facilities are offered through ‘captives’ that are either funded by the manufacturer or through a major finance provider. The funder provides the facilities on documents printed in the name of the manufacturer. As a result of increased competitiveness Read more »
Saturday, 24. October 2009
Fraud, miss-selling and malpractice cases have been on the increase during the recession causing a serious re-think about the regulation of the motor finance industry. In the meantime brokers are strongly advised to provide warnings to customers about the dangers of signing a legally binding contract without reading and understanding the terms and naively basing the decision to take finance on rate or APR alone. I Read more »
Thursday, 11. September 2008
I have been quite frustrated this week as a result of the plight of a lady who has a major problem with a finance company. As a court case is pending I cannot comment on the details but suffice to say that I am doing everything to help. The lady had a arranged a car through Gwent Fleet Management of Abergavenny who are now under investigation by the police but as a result of their actions the lady now has a battle with a finance company called Mallard Finance, who are, Read more »