Do you think this in breach of financial regulations

[markgem]

Rather complicated , please bear with me.
Having great difficulty in recovering money taken in error from our bank account.�2 500, Traded in moterhome in may for newer model,company should have paid off previous finance that was outstanding on loan ,but finance co carried on taking from our account original loan plus new one. Moter co insist they sent cheque to cover , and are denying fault My partner had stroke at this time and we didnt keep eye on our account ,have finally stopped original direct debit .Moter co have since sold on old van so in essence it still belongs to finance company. One week on and still no ownership off fault and no money back We are now overdrawn at bank for the first time ever ,both very distressed ,any advice please.

[cassa333]

Sending a cheque isn't proof of anything. If they have cashed the cheque then it is an administration error and they will have to sort it out at some point. Find out if the cheque has been cashed, if you can get the cheque number and when it was sent and the full address of where they sent it to.

However I think a week is not long enough to sort anything out. Write to them with the detail and ask for a reply within 14 days.

Regardless of repaying these things it is often still your resonsibility to make sure dd are stopped. A cancellation form should have been filled out and submitted possibly when the new finance was set up.

These companies don't care what your personal curcumstances are they just go on what they have written down in their computors so although your partners stroke is a good reason not to have checked all these things you can't blame them for not knowing and just carrying on with what they did.

[simonruss]

Make an appointment at your local Citizens Advice Bureau asap

[markgem]

Thanks cassa333 and simonrussa.
Understand it was initually our fault for not stopping dd, however how can these companies justify keeping that money when there was nothing to offset it against .Also finance co say didnt get cheque and moter co insist they sent it so not cashed just floating somewhere acording to them. Is it really poss that large comoanies still deal in paper transactions in this day and age ?,
and are they not in breach for selling on the van when still owned by finance, and do you know if we have a compensation case against any of them
thank you again

[moomintroll1]

You remain responsible to the finance company for your obligations under the agreement until they have received payment in settlement. As far as the finance company is concerned, they can't hold a third party liable, so they will continue to chase you until the matter is resolved. Cancelling the direct debit will stop them taking further payments, but will also trigger chase letters until they get the settlement amount.

If the motor company have confirmed to you that they have issued the cheque but it has not yet been cashed, I think it is reasonable to assume that it has got lost. Have they not offered to stop the cheque and reissue payment to the finance company? This would appear to be the most obvious step to resolving the issue, and one which I think you would reasonably expect to have already been offered.

I would write to them and insist that they do this, reissuing payment by same-day bank transfer, or if they insist on payment by cheque, posting it using Special Delivery.

It may very well not be their fault that the payment has failed to reach the finance company, but if you have made them aware of the issue, they have a duty to rectify it prompty.

You may want to check with the finance company, but the usual course of action is to refund any overpayments once the account has been cleared.

[markgem]

thankyou moomintroll1.I suppose are will be revealed on monday morning as we have just heard that the moterhome co has reissued the said lost cheque.
many thanks to you all for your input ,
you expertise have been invaluable.
If anyone has any queries about substance missuse, that is my field of work and would be only to happy to help.
thanx again bye for now trish x