BMWFS VT Process (Aug '16)

[Highlander777]

Re: BMWFS VT Process (Aug '16)

Hello

I am not based in Scotland. don't let my handle fool you. I just like the film! :-)

please keep me posted on the section 42 as I would like my marker removed this issue sorted with BMWFS

Thanks

[xs2man]

Re: BMWFS VT Process (Aug '16)

Yes, unfortuantely I am in Scotland, so different rules. I eventually got a hold of my solicitor, and he is going to read through my correspondence with BMWFS next week, and let me know what he thinks.

I like the idea of your wee attempt though. I guess their decision would be legally binding would it? Or could BMWFS (or any financier) be able to just ignore their findings anyway?

[R0b]

Re: BMWFS VT Process (Aug '16)

The assessment would determine whether or not BMW are complying with the DPA, the likelihood is that if they are not then the ICO may take some action against them or at the very least if you took your matter to court, you would have quite an authoritative decision (since the ICO being the regulator for the DPA though not legally binding on the court) which would be surprising if the courts did not follow it unless there were exceptional circumstances.

The ICO does have enforcement powers such as monetary penalties or they can provide BMW with an enforcement notice to refrain from processing the information that is in dispute i.e. to remove the offending default on your credit report. Failure to comply with an enforcement notice can lead to monetary penalties or proceedings issued to the Information Commissioners Tribunal (I think its called the First Tier Tribunal now).

Obviously the better result would be to issue proceedings but of course it requires a proper understanding of the issues to be argued properly.

[xs2man]

Re: BMWFS VT Process (Aug '16)

So last week my solicitor went over the issue for me. And today he called me with his assessment and suggestion.

He is basically happy that I am in the right. He is writing to BMWFS solicitors basically saying they are representing me now so remove the marker off my credit file or take me to court. Or else we will take them to court.

Will update if I can.

[R0b]

Re: BMWFS VT Process (Aug '16)

Good news, I wonder whether BMW will actually pursue this or agree to remove it. But if I were you I would be wanting some kind of compensation too (for breach of the DPA) as a result and an acknowledgement that they're going to drop their pursuit of the excess mileage.

[xs2man]

Re: BMWFS VT Process (Aug '16)

I said to my solicitor that I would be happy enough if this was just over and done with, however i also mentioned that i did request an amount of compensation as I have experienced some hardship as a result of this.

I'm quite sure he will do his best. I suggested £500 as a reasonable level of compensation. But really I would just like it resolved asap before my mortgage lender prepares my next mortgage offer preferably.

[vipvipvip]

Re: BMWFS VT Process (Aug '16)

I’m also watching this thread for a result. Similar situation with late payments registered over the past year and its seriously impacting my credit and my ability to get a mortgage. It’s unfair how a dispute with a company would appear to indicated my ability to maintain payments. BMW finance in my opinion are not reporting correctly. Experian show as settled and late payments for each and every month even after having a green VT marker when I handed back. The outstanding balance around £1k for the mileage is over and above the original agreement and over the 50% I paid to VT. how can they still be reporting on what should be a closed credit account? Interesting note from Experian http://www.experian.co.uk/consumer/q...rmination.html
Equifax would appear to mark the report with a U and not a late payment marker which interestingly has no impact on my score with them. It would appear it’s only Experian and Noddle which I think use callcredit that show as late payments. BMW say they will not amend the markers even if the mileage charge is paid. They say they will mark up the account as settled and I will have to wait six years.

Desperate to see a positive outcome.

[xs2man]

Re: BMWFS VT Process (Aug '16)

I’m also watching this thread for a result. Similar situation with late payments registered over the past year and its seriously impacting my credit and my ability to get a mortgage. It’s unfair how a dispute with a company would appear to indicated my ability to maintain payments. BMW finance in my opinion are not reporting correctly. Experian show as settled and late payments for each and every month even after having a green VT marker when I handed back. The outstanding balance around £1k for the mileage is over and above the original agreement and over the 50% I paid to VT. how can they still be reporting on what should be a closed credit account? Interesting note from Experian http://www.experian.co.uk/consumer/q...rmination.html
Equifax would appear to mark the report with a U and not a late payment marker which interestingly has no impact on my score with them. It would appear it’s only Experian and Noddle which I think use callcredit that show as late payments. BMW say they will not amend the markers even if the mileage charge is paid. They say they will mark up the account as settled and I will have to wait six years.

Desperate to see a positive outcome.

Yes, that is the problem. And why I wouldn't recommend disputing mileage charges unless they are both willing to have their credit rating affected, at least temporarily, AND be willing to take the finance company to court over it. As I had said before, it wouldn't be worth fighting over for a couple hundred pounds. But if you are going to dispute it, it looks like YOU have to go all in with it. If you decide to wimp out at a later date, your credit file will remain marked, so the only way out clean is to fight right to the court. And that is assuming you win.

Of course, I haven't heard anything contrary to the likelihood of my case winning, but it is always a risk. We will see. I suspect I wont hear any update for a couple weeks. I assume their solicitor will drag their heels on the reply. But I will update what I can, when I can.

In other news, I got the new mortgage offers through from my lender the other day, and the rates all line up with their advertised rates online. So it doesn't look like this is affecting my remortgaging abilities (I had always planned on remaining with my current lender this time round anyway, as they apply a reasonable house price increase every renewal, without re-evaluation, which has thus far usually meant a bump in LTV, hence better rates. I doubt my property would be valued as high independently, so I was always planning on taking full advantage of better LTV rates anyway). Anyway, that gets a bit of pressure off for this, at least with regards to time constraints, as the mortgage rate was the biggest worry for me coming into this dispute.

All in, it has been a reasonable slog getting to here. I hope I have provided an insight to others how this might play out for them, should they wish to consider this action. Most of the threads I see have snippets of info here and there, and never really anything of much substance once it drags out a bit. Certainly I don't think I've read a single thread here where the OP has returned with a positive outcome. Something I hope to do if I am allowed to. That being said, if there are no longer any posts from me on this thread, it is most likely as a result of some NDA or something, which would be good news. You can be darned sure I'll be responding should I lose in court.

[Highlander777]

Re: BMWFS VT Process (Aug '16)

i am interested in this thread as I am in the same boat. what is interesting is [MENTION=89744]xs2man[/MENTION] , your solicitor is asking BMWFS to take you to court for non-payment. clearly if this was black and white, they would. All the documents I have received from BMWFS on the excess mileage is not a demand for payment., it seems to just state , this will what I owe them. they are not in a hurry to chase for payment.

don't think BMWFS will give us easily , as they know the flood gates will open.

keep me posted on progress

[xs2man]

Re: BMWFS VT Process (Aug '16)

I've done about 3 edits to my original post (as I read it back). But no worries. I will update with what I can, when I can. If I no longer respond, or leave a simple smiley face, or something, then as said, that'll be the result of some sort of NDA or similar.

[vipvipvip]

Re: BMWFS VT Process (Aug '16)

Thanks for getting this far in your journey, I wish you the best of outcome. I’ve been thinking about the ICO route with the misuse of the credit referencing being my complaint. I can’t see how it is possible to report on an account when the agreement has been terminated. It’s inaccurate reporting as the mileage fee was never part of the original finance and the obligation on the finance has been met.

[Highlander777]

Re: BMWFS VT Process (Aug '16)

thanks - appreciated - wait for a

[xs2man]

Re: BMWFS VT Process (Aug '16)

thanks - appreciated - wait for a

No worries.

How are you getting on with your claim? Have you decided to take them to court yet? Or are you awaiting a smiley first?

[Highlander777]

Re: BMWFS VT Process (Aug '16)

evening . I need to find a good solicitor first . open to offers if anyone knows of a good one ?

[xs2man]

Re: BMWFS VT Process (Aug '16)

Problem is mine is in Scotland, so not gonna be too much use to you I'd imagine.