SWMBO has received a letter today from a finance company that we have never dealt with. The letter advises that they have received info that my wife has bought a car that is subject to a finance agreement with them. They have enclosed a Category 5 fraud questionnaire for my wife to complete.
The thing is, SWMBO has not just bought a car! However the car reg they are quoting was our first Scenic, which she bought in 1999, brand new from dealer, and sold in 2001.
A check on RAC website states that this car has not had a change of owner since 2002.
Anyone shed any light on how my wifes details could have been obtained or used in this way and what possibly has happened here?
Finance company have not supplied a pre pay envelope or a freephone number so I am tempted to bin this letter until they foot the bill (ok a stamp!) for this check.
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Bobby,
I know you can't name the company but put it this way. Is it one you have heard of> If it were me, I'd bin the letter but not understanding finance, you may be making it worse. Could be something dodgy but could just as easily be a simple mistake.
If it was a well known company, I'd ring them. If not, I'd ignore them...although that's just me.
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Adam
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BobbyG as Adam has mentioned, is it a known or respected finance company?
Never ignore a finance company, its a pain to erase an eroneous bad credit record.
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Sounds like the person that bought the car from you, or a subsequent buyer has had finance on the car but somehow the dvla records haven't been updated with the change of keeper. Alternatively someone has made a mistake and got the registration incorrect which is why you have been sent the questionnaire.
The company might have an email address so you can email them for nothing and explain you no longer have the car and the finance was taken out by a subsequent buyer :-)
teabelly
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Just send a letter to the finance company stating the date you purchased the car, where from and that you did not take out a finance agreement on the vehicle at that time. Include the date you sold it and to whom.
Either someones been pulling a fast one somewhere, or its a clerical error. Either way a letter will provide the finance company concerned with information to correct the mistake or pursue the fraudster.
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I have never heard of the Finance Company concerned, but that does not mean they are not genuine.
They do have a website but you need to be registered to use it.
Might go down the letter route as suggested but it cheeses me off that I am being inconvenienced!
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My only concern here would be that if you bought the car secondhand, then the person who sold it to you might have had finance outstanding. In that case, the person who sold it to you would not have had the right to sell it to you. When they get to the end of the trail and find the current owner, they can repossess the car. If I understand correctly, that person can then chase the person who sold it to them and so on down the line to the person who had the finance agreement. This would clearly result in a flurry of legal actions.
In light of this, I'd be tempted to take the letter to the Citizen's Advice Bureau and get some decent advice on what might happen and what you can do if it does.
Our learned friends on the site may be able to add to this.
V
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The chances are that someone else up the line has bought the car with outstanding finance on it, and they are chasing the ownership line down to the original owner for history.
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As the first stage, ask the finance company by recorded delivery letter for a copy of the agreement, and take it from there. Until you know what's actually going on you are groping in the dark.
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A finance company website that needs you to register to use it???
What is a Cat5 fraud questionnaire? I don't suppose it asks for bank details etc?
It sounds suspiciously like a scam to me. Be careful!
What's the URL? If it's genuine there should be no problem posting it here.
Kevin...
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You wrote: "...which she bought in 1999, brand new from dealer..."
I wrote: "My only concern here would be that if you bought the car secondhand..."
Oh dear. Where do I book up for those reading lessons?
V
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What details do they ask for ? If it is anything sensitive or confidential, then I would be careful.
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That worries me also, which is why I suggest simply asking for sight of the alleged agreement. It will flush them out, *while disclosing nothing of yourself*. Their response will confirm things one way or the other.
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A good point.
I think I would endorse Stripey's approach. Send them a letter, of which you keep a copy and ensure proof of receipt, and ask them to substantiate their query together with a copy of the finance agreement.
I would worry that almost anything else you could say would be used against you, or at least to muddy the waters.
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This is what the site CIFAS has to say about category 5 fraud: "Sale of assets subject to a credit agreement where the lender retained title to the asset." The link: www.cifas.org.uk/press_20020509.asp shows who CIFAS are and their other categories. Sounds like someone is fishing: I'd take advice first before getting involved.
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Since the 'previous keeper details' are damn near as prominent on the new V5 as the current owner, I wonder if this is the culprit, coupled with a sloppy clerk.
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Mods, letter is from a company called On-line Finance Ltd. Enclosed is a Document from Cifas with explanatory notes (Document C) and Questionnaire (Document G).
Asks 16 questions inc where bought, proof of receipt, any HPI checks etc but doesn't ask me for my bank details.
I might just send them a letter explaining that SWMBO is not the owner of this vehicle and we have not bought it. I will tell them that she was the original owner (as that info would be on V5 anyway) and leave it at that. If they want any more info, they can get back to us. Hopefully its been some sort of clerical error.
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I'd send the letter and see what happens. I won't post the URL but I've just had a look and it's not winning me over I must say. Nor is the login screen.
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Adam
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well www.olf.co.uk looks like a web site that does not require a login - unless you go into the agent part. It does have contact details, email/ phone / address / etc.
It looks as if they supply finance through dealers (to risky buyers?), you can get details of any ltd company from the companies house web site - that will show if its real or not.
Mark
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A whois search matches up with the Companies House short report, which shows a nearly 10 year trading history and up-to-date accounts, so there's no reason to think that they are anything other than a legitimate organisation.
That's not to say that the company writing to you is necessarily the same one - but I assume that the details will match any search you do.
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Surely you are not required by law to answer unsolicited letters from a private company.
I think I would have written back saying something along the lines that my fee for completing such forms is £30 and on receipt of payment will return same completed as fully as possible.
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Alyn Beattie
I\'m sane, it\'s the rest of the world that\'s mad.
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Thanks for your replies and the additional website which was not mentioned in their letter. I have emailed their Customer Services with basic information and await their further advices.
Ball is in their court now!
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It seems to me like a pukkah website. If you read the press release (2002) it is part of GMAC (Vauxhall Finance. There is a lot of solid advice on this thread. I wouldn't ignor eit though.
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