Surely VW Finance are in the wrong?

[ArcticShark]

Hi all,

Long time reader, first time poster here.

Thank you in advance for taking the time to read this and hopefully give some advice if you’ve been in a similar situation or can help.

OH has been a long time VW finance customer, took out a PCP deal back in 2015 and changed the car once since. As we are now applying for a mortgage We have had to VT (Voluntary Terminate) the car. As we were 6 months early to VT We were given a settlement figure for £2890. VW Finance however, sent the incorrect settlement figure with a request to pay the full sum within 14 working days.

OH then requested the correct amount over the phone, via email and even through complaints procedure. All along trying to get through to someone at VW Finance to make the settlement payment. Due to covid 19 their Customer Service team we’re not contactable.

VW eventually sent the updated/correct sum 12 days after the deadline. The sum was settled within 24hours of receiving it.

However, VW have now marked [6] late payments on the account and updated Experian and Equifax. The 6 missed payments are the future VT payments - which hadn’t even occurred yet.

Having never missed a payment for any account, keeping VW finance in good standing order throughout the agreement, are VW finance allowed to mark a late payment for an incorrect sum. Especially adding 6 missed payments in a single entry?

They failed to answer calls due to closing call centre. Marked an account with 6 late payments when not a single payment was missed?

Please do advise, thanks!

I would say no and say that under data protection law you have a right to any incorrect information being updated promptly.

www.moneysavingexpert.com/loans/credit-rating-credit-score/#needtoknow2-25

Search the site MoneySavingExpert for good advice. I would send a recorded letter to VW setting out the facts first (they can't dispute receiving it then).

My sis has had issues like this solved twice now by writing to a national newspaper, in the personal finance section where the journo approaches the company at fault for you. Good luck.

Hi thank you for your message, We’ve since reached out to the credit Reference Agencies and disputed the late payment marker - it’s such a long wait to get an answer, 28 days. So frustrating.

Thank you for your message and very good idea with the recorded letter. We’ll get onto that right away and keep a record for the credit reference agencies.

I’ll spend sometime on moneysavingexpert tonight. It’s just so absurd companies are allowed to leave such markers, it then falls down to the consumer to do the leg work to fix their mistake.

Glad your sister got her credit file sorted, hopefully I’ll have the same luck!