Discretionary Commission Arrangements - Complaints and Refunds

Go Car Credit Refunds and Complaints

In the UK there is a car finance company called Go Car Credit that issues car loans to people with bad credit. Although they advertise that they offer flexible and affordable loans, the truth is that they frequently have very high interest rates and hidden fees that can have a negative financial impact on people who are already having a hard time making ends meet. In this post, we will outline the dangers of taking out a loan with Go Car Credit, and offer advice on how to seek a refund if you have already been caught in a cycle of debt.

Go Car Credit Dangers

One of the biggest dangers of taking out a loan with Go Car Credit is that they often charge extremely high interest rates, which can make it difficult for borrowers to keep up with their repayments. This may result in missed payments, which could hurt your credit rating and make it more difficult for you to get credit in the future. Additionally, borrowers may find it even more challenging to pay back their debts due to the fees and charges that are frequently included with these loans.

Another danger of taking out a loan with Go Car Credit is that they often use quite forceful tactics to get borrowers to sign up for their loans. For instance, they might persuade borrowers to take out loans by telling them that their options are limited or that taking out loans is their only option. This can be especially dangerous for vulnerable individuals who may not have the financial literacy or the resources to properly research their loan options.

Getting a Refund from Go Car Credit

If you have already taken out a loan with Go Car Credit and feel that you have been unfairly treated, there are procedures that you can follow to seek a refund. First, you could contact Go Car Credit and explain your situation or you could use a company such as ours to make the complaint on your behalf. If the complaint is rejected, we can escalate your complaint to the Financial Ombudsman Service (FOS). The FOS is an independent body that can help you to resolve disputes with financial institutions, including Go Car Credit.

It is important to note that you may only be able to get a refund if you can prove that Go Car Credit has acted unfairly or irresponsibly. This may include establishing that they did not adequately explain the terms and circumstances of your loan, or that they did not complete necessary affordability checks before lending you money.

You may be eligible for a refund from Go Car Credit if you have taken out a loan from them and believe that you should not have been given the loan as you cannot afford the repayments.  If the loan was taken out without you truely understanding the details of the loan, or if the conditions of the loan were misrepresented to you, the law requires the lender to investigate the compalint and if upheld issue a refund.

To obtain a refund for your Go Car Credit loan you can either do it yourself or use a company like us, Redbridge Finance.

If you wish to do it yourself, please follow these steps:

  1. To begin, get in touch with the customer support staff at Go Car Credit and describe the matter to them. Make sure to offer as many specifics as you can regarding the reasons why you believe the loan was issued in an irresponsible manner.
  2. Make sure you get a formal explanation of the company's policy on refunds for loans that were given recklessly. Get out as much information as you can about the types of loans that are eligible and the process for applying for a refund.
  3. Make contact with your lender and ask them to assess your case in light of the policy on refunds established by Go Car Credit. Ask them to provide evidence that they followed all applicable rules when approving and issuing the loan, such as providing proper disclosure of terms and conditions before signing any documents. Also, ask them to provide evidence that they followed all applicable rules when approving and issuing the loan.
  4. Gather all of the documentation pertaining to the loan, such as any contracts, bank statements, and letters exchanged between you and Go Car Credit. This will help prove either that you were not fully informed about the loan before signing the agreement or that the terms of the loan were misrepresented in some way.
  5. Provide all of the documentation to both Go Car Credit and your lender in writing by using certified mail or another secure delivery mode with return receipts required. This will allow you to demonstrate that they received it in the event that there is a disagreement further down the road.
  6. Make sure to follow up with both of the parties on a frequent basis until your case has been examined or until you receive a response from one of the parties on their decision, offer, or refund amount.

Or you could appoint us and we will do the work for you.