BMW Financial Services playing hard-ball

[fatmcgav]

So here we are nearly a year later and STILL no progress from the Financial Ombudsman...

Frankly, it's p*ss poor... Thankfully I've got some other finances to fall back on otherwise the negative impact on my credit record would be very difficult...

Anyone else had any success?

[R0b]

Sorry to hear that this is still ongoing, have you contacted the FOS and what excuse have they given for it to take 2 years to conclude a decision?

The legal route is starting to become the only option from the sounds of it, whether you take legal action against the FOS or whether you go directly against BMW, it's going to be more or less the same in terms of fees for proceedings to be issued.

The fact that the FOS doesn't seem to be doing anything about it and sitting on their backside, you should really consider taking BMW to court and having a stab at holding them to account because there will come a point where this problem will prevent you from doing what you want to do.

Out of curiosity, are BMW continuing to report negative markers each month or have they stopped?

[fatmcgav]

Hey rob

So I've emailed the FOS again this morning, as I had one of the regular "balance outstanding" letters from BMW FS through the post today...
No reply to my email as yet though...

Yeh, I'm hoping the credit issues don't start to bite me, as my current PCP car deal is up for renewal in October, and I'll be mighty annoyed if the marker prevents me from getting a new deal...

And no, BMW are still reporting negative markers each month, but apparently the account is only 6 months late. Go figure!

[fatmcgav]

So the latest update from the FOS is in:

Thank you for your email.
Unfortunately there is currently no further update to give on your case. We need to ensure that we’ve taken everything relevant into account. So it will take more time than usual for us to deal with your case.
Although we can’t currently say when we’ll complete our investigation into your complaint, please be reassured that we’ll be moving it forward as soon as we’re able to. Once there is a further update for your case, we will let you know.

So not helpful at all...

[R0b]

Absolutely shocking to be honest, how can consumers have faith in a service when they are not doing what they should be doing?

There is a complaints process about the service and you can find more about it on the link below.

I would suggest you kickstart that if you haven't already and take it as high as the independent assessor if necessary. I would give them a call and tell them you are wanting to make a formal complaint about the way they are dealing with this case and in line with their complaints procedure. Ask them to get a manager to look into your complaint.

https://www.financial-ombudsman.org....ice-complaints

[fatmcgav]

Absolutely shocking to be honest, how can consumers have faith in a service when they are not doing what they should be doing?

There is a complaints process about the service and you can find more about it on the link below.

I would suggest you kickstart that if you haven't already and take it as high as the independent assessor if necessary. I would give them a call and tell them you are wanting to make a formal complaint about the way they are dealing with this case and in line with their complaints procedure. Ask them to get a manager to look into your complaint.

https://www.financial-ombudsman.org....ice-complaints

Thanks for the suggest R0b. I've emailed back this morning requesting that a formal complaint is opened and a manager reviews the handling of my case.

Will wait and see what the feedback is.

[fatmcgav]

So the FOS have acknowledged my complaint email, and a manager will be in touch.

So let's see where this goes...

[fatmcgav]

So I've received a response from my complaint. However it's pretty poor tbh...

I've skipped the initial bit, as it's just recapping the dates and contents of various letters, emails etc.

Rest of it:

Summary and conclusion

Having completed my review, I’m sorry to say I still can’t tell you when we’ll be able to start investigating your dispute against BMW Financial Services (GB) Limited. I wish I could respond with better news but what you’ve already been told still stands. Though we’ve made some progress on the best way to handle cases like yours we’re still not in a position where we can decide on individual cases. As we’ve already said, it's important that we take a consistent approach when dealing with similar cases. We also need to ensure we’ve taken everything relevant into account so we can give an answer that we feel is fair and reasonable in the circumstances. All I can say is as soon as we can we will, and an investigator will be in touch.

Until then, although we’ll continue to update you as often as we can, if you want to know what the current position is, please do contact our consumer helpline, on 0800 023 4567 and one of my colleagues will be more than happy to help you.

I am very sorry we can’t start looking at your complaint just yet and for the times we said we’d be in touch but didn’t, so you’ve had to make contact for an update. In addition to my sincerest apology and explanation, I’d like to send you £150 for the trouble and upset caused.

Because of Covid-19 restrictions still affecting our offices, I can’t send the payment by cheque. But, if you can tell me your bank account number and sort code, I’ll arrange for it to be paid directly to you.


Next steps and the independent assessor
I’m sorry if my response wasn’t what you were expecting but I hope it shows that I’ve investigated your concerns about our service properly. Your case is important to us and as soon as we’re in a position to take it forward an investigator will contact you.

If you’re still unhappy with the service we’ve given, you can contact the independent assessor, Dame Gillian Guy. You have three months from today to get in touch with her. You’ll need to contact her directly, as we can’t refer a complaint for you.

You can find the independent assessor's terms of reference here. While it’s important you make contact within three months, please be aware that she may not look at your complaint until after our investigations are closed as set out in her terms of reference. She can investigate the level of service we’ve provided. But she can’t comment on – or change – the outcome of the complaints against financial businesses.

You can email Dame Gillian at independent.assessor@financial-ombudsman.org.uk or write to The Independent Assessor, PO Box 35738, London, E14 9YU. Due to the current situation around Covid-19, there are delays in receiving and responding to letters, so it may be quicker to email her details of your complaint.

So looks like FOS are being pretty useless to be frank...

I'm guessing my only way to get a more speedy resolution is to threaten legal action against BMW FS...

[fatmcgav]

Well there's a bit of progress on my case today - It's now been assigned to an investigator!!!

Apparently he's requested some information from BMW FS in order to aid his investigations...

[fatmcgav]

So I've just had a further email with the findings of the investigator

I've attached a redacted version, but the tldr is that they find completely in favor of BMW FS!

R0b would you be willing to review the attached and provide your
comments? I've got until. 6th June to respond to the investigator.

Thanks in advance.

[fatmcgav]

Hey R0b , sorry to sound like a nag but do you think you'll have a chance to review the FOS' response?

I've only got a few more days yet to respond...
From my reading, it feels like they've completely disregarded the outcome of MBFS lost court case.

Thanks
Gavin

[R0b]

Will have a read and see if there's any comments I can make.. wouldn't hold your breath on any result from the ombudsman if you do object.

Can you upload the agreement in full so I can see what it says.. otherwise I' just speculating

[fatmcgav]

Will have a read and see if there's any comments I can make.. wouldn't hold your breath on any result from the ombudsman if you do object.

Can you upload the agreement in full so I can see what it says.. otherwise I' just speculating

As in my original finance agreement? Sure, I'll try and find it

[R0b]

Yes please.

I've had a quick look, the decision is confusing and contradictory in places. I will try to cobble some points together once I've seen the agreement but you will need to put your response back to the FOS in a coherent way.

[fatmcgav]

Yes please.

I've had a quick look, the decision is confusing and contradictory in places. I will try to cobble some points together once I've seen the agreement but you will need to put your response back to the FOS in a coherent way.

Sorry for the delay there R0b ... I've attached a redacted copy of the original hire agreement...

Thanks
Gavin