Coast finance

[Guest]

Coast finance are calling me requesting documents to back up the fact I cannot afford the full amount due to ill health and this loan was originally welcome finance. When i call the number given they cannot hear me and no contact details can be found for them. Should I send in the paper work as requested*

[Rovercar240]

Ask Coast Finance who the agreements or loan amounts that you agree are with? Are they with Coast OR Target (this is the company you are talking with when you call them on 0345 848 0229). Target is a 'servicing' company that handles the Coast account. Coast Finance Solutions are not UK based (not a problem in itself) but more importantly they are NOT registered with the FCA. However, Target are registered....with limited authorisations. Basically, Target have confirmed with me that they allow Coast to utilise their FCA authorisations. I'm not sure that is allowed which is why I've sent a letter of complaint to the FCA and FoS. The FCA won't update you on the complaint but when you have something in writing from Coast/Target then you are able to elevate the complaint after that.*

Basically, you should ask Coast/Target who any agreements about paying xx each month are with and who has made the agreement. When I've called Coast/Target they say that Target has agreed Service Level Agreements (SLA) in place which basically says that they can make agreements without going to Coast! The fact that they also allow another company to "utilise" their FCA authorisations must be an abuse of the FCA rules!! But you must send a letter to Coast/Target first and then elevate it afterwards as the FoS say that they cannot do anything until you give Coast/Target a chance to put things right!!