Financial Arbitration Ltd

A question about : Financial Arbitration Ltd

Hi!

Don't know if this is the right part of the forum to post this, however, has anyone heard of a company called Financial Arbitration Ltd based in Stockport?

They phoned last week claiming to be able to reclaim or get a discount of up to 60% on a car finance agreement through my business. Essentially they asked if I had any loans / borrowing and stated that there was a good chance that because of a technicality within the contract agreement, they could secure in the region of a 60% refund.

I'm very suspicious about these things, especially when they said that if they looked at the contract and thought they had a case, it would cost me Ј495 up front as their fee (reduced to Ј99 if their claim failed). When I stated that I would not be paying anything up front until I was 100% satisfied that it was genuine and that it wouldn't have an affect on me or my business, the gentleman assured me that was ok, however I could clearly visualise the cartoon birds circling around above his head!

Anyway, all comments gratefully received - I'll post an update after the guy has been (this morning).

Cheers

BT

Best answers:

• RobertoMoir is overcharging! I'll only charge Ј25 for not helping you.
  BTW whenever I see or hear the words "fee payable in advance" with regard to "compensation" I always also see or hear (in my mind) the word"scam".
• Sorry to undercut you but I'll do it for Ј10.
• Never knowingly undersold. I will take double what they are charging you for doing nothing as my nothing is of a higher quality.
• I'm just waiting for someone to offer to pay me to do nothing for me, then we may have a deal!
  Anyway, after some confusion about appointment dates and times, the chap arrived this afternoon and despite the fact that communication clearly wasn't his strong point, he left me with something to think about!
  In a nutshell, these guys look at existing credit arrangements and compare them to how they should read, i.e. if there are any 'breaches' in the agreement compared to what it should state in accordance with the Consumer Credit Act (and any other Act, Regulation etc that might apply). This allows them to seek a negotiated settlement of the agreement on the basis of 'hey guys, you used the wrong template / didn't check when you copied someone else's template / don't comply with regulation XYZ of the ABC Act therefore the agreement isn't legal and we don't want to pay you any more money'.....or something along those lines anyway!
  I would of course like to insert the words 'apparently' and 'allegedly' frequently within the above paragraph and would urge extreme caution before anyone gets excited about writing off large chunks of credit card debt, loans etc (as they claim to be able to do).
  I will certainly be looking into this further and asking more questions before I make any decisions.
  I'll post again once I know more!
  BT
• This company have just spammed this site with a bunch of lies and misrepresentation. Here are some of things in the spam which show you just how bad they are
  Quote:
• The OP said that he had a car credit agreement through his business. In that case, does the Consumer Credit Act apply to his loan at all? (I don't know the answer to that, I'm just wondering).
  Dunstonh is right about his 'spot the breach' game, but I'm too lazy to play - it screams scam; I don't need to go finding specific breaches to know that.
• I was foolish enough to be drawn in by these guys around march time, they said it would take around 6 weeks for my case to go through and I'm still waiting and I think it will be a dead end. The fella who came to see me about the case said that they gurantee they'll get at least 60% of my loan cleared. I feel foolish to fall for this. I read what the rep for f.a ltd said and it's absolute rubbish, Where are the people who this company have helped out. A
  the only communication with them was when I would ring to find out what's been going on and it's always the same excuse like there's a back- log or we'll look at your file and then get back to you(which they usually don't). I would love them to prove me wrong but that's wishful thinking I feel. An absolute scam.
• I just saw your query as to does anyone know of Financial Arbitration in Stockport. Yes I do. In April this year I received a telephone call from someone telling me they might be able to clear my debts. I thought it was too good to be true, however I agreed to see one of their representatives. I paid him Ј990 to look at my credit card and loan. Last week I received my final letter telling me that I am now debt free, and I got some money back for payment protection that I didn,t even know I was paying. It was the best phone call I've had Thankyou Financial Arbitration now I know it works I will be telling all my family and friends.
• We were sucked in by this company back in March - we handed over Ј820 and got told it takes a total of 107 days from start to finish. We have never received any correspondence from them - we have had to ring up every time to see if we have a case - we received an email on Monday to say that our agreement with a finance company had breaches on, they were sending a copy of our report to them and they now have 14 days to respond - what happens now??? Who knows??? Because when we try ringing Financial Arbitration for more information they do not answer calls or respond to emails. We are under the impression we have lost our Ј820