Redbridge Finance Refunds Moneybarn Complaints

If you've had a negative encounter in dealing with Moneybarn, there's no reason you shouldn't go to the site to see if you can file a complaint. This company is an associate of the Finance and Leasing Association and one of the top lender of sub-prime loans in the UK. They also provide motor financing for vehicles that are used, and are happy to loan to people who have the CCJ or poor credit history.

Moneybarn does not offer high-interest loans and offers fixed monthly payments. Customers have the option of buying their own car once they pay half of the monthly payments, or returning the vehicle at the conclusion. A loan option is offered at no additional cost. The company does require you to meet their criteria, though.

Moneybarn is in the headlines recently, as a result of the hefty fine it was handed for several fraudulent business practices. Because it failed to provide customers with more information on what to expect in the event of a payment default The company was fined £33 million. The company also failed to give customers a time frame for paying off arrears suffered. There's a possibility that the business was giving customers a loan that was not affordable, or didn't make clear that they were entitled to a refund in the event that they did not pay the loan on time. In addition, the company failed to do a number of other things to show that customers were in a safe financial situation.

Business practices that were deceitful at Moneybarn are one reason the firm was not transparent. It swindled customers who required loans. Even though they were able provide loans to those with poor credit scores, they didn't provide any clear details on what would happen if the borrower defaulted. An option called a Voluntary Termination option that allows the lender to transfer the car to the borrower once the customer completes the half-way payment. But, the business wasn't honest with the cost.

Moneybarn has a formal complaints procedure that will assist clients determine whether they're entitled to a reimbursement and which actions to follow to make an appeal. Moneybarn doesn't charge an up front fee for its services, but charges after it's won the claim. Moneybarn employs a claims management firm to assist customers in navigating the complex maze of forms and paperwork necessary to submit claims.

The Moneybarn site has the "do it in the online" option, which allows customers to complete all required information without even going out of the house. There is also a claims specialist who can help customers with the entire procedure. While the website has all the typical bells and bells, the claims expert can also help customers make the most effective claims, or even help with claim to The Financial Ombudsman Service.

The Financial Ombudsman Service is a free service that helps consumers to resolve their financial concerns. The service can be reached by phone, through the site, or via the mail.