Supporting our customers through financial difficulty

At Close Brothers Motor Finance, we do everything that we can to support our customers through financial difficulty.

Getting payment support

If you need help with your payments we will support you to find a solution which best suits your needs.

 

 

    Do I need to make payments during a lockdown?

    Yes, you should continue to make payments as you would normally.

     

    If you’re struggling financially please call us on 0333 321 6060 (select option one) to discuss your agreement.

    I am not working, and I think this will affect my ability to pay, what should I do?

    Please call us on 0333 321 6060 (select option one) to discuss the options available to you, which we will tailor to your individual circumstances.

    I have missed a payment, what should I do?

    We recognize that falling behind with your payments can be worrying, but we're here to help. It’s important that you give us a call on 0333 321 6062 (select option one) to discuss the options available to you.

     

    The sooner you contact us, the better placed we’ll be to find the right support for you.

    I am going to miss my next payment, what should I do?

    Simply give us a call on 0333 321 6060 (select option one) to find out what options are available to you. Options will vary depending upon your individual circumstances.

     

    The sooner you contact us, the better placed we’ll be to find the right support for you.

    I am in financial difficulty and my agreement is due to expire soon, what should I do?

    If you've already agreed a payment plan with us and it will still be in force at the end of your agreement, we'll write to you 10 days before your agreement ends to explain the options available to you. If you're not in a payment plan and are unable to make your remaining payments, please contact us on 0333 321 6060 (select option one) to discuss your options.

    What options might be available to me?

    If you're still able to make your monthly payments, we recommend that you do. However, if you find yourself in financial difficulty and are unable to make payments, you should contact us to find out what options are available to you.

     

    The options available will vary depending upon your individual circumstances and the period over which you are likely to need help. Options include (but are not limited to), allowing arrears to be repaid over a longer period if reasonable, reduced payments for a short period of time, or other payment plans to help you get back on track with your finance repayments. You may have other rights under the terms of your agreement with us, which we can talk to you about once we better understand your circumstances.

    How will missed payments affect my credit file?

    If we agree an arrangement with you, this will be reflected on your credit file for the duration of that arrangement.

     

    If you took a Payment Pause with us, prior to 31 March 2021 due to temporary difficulties as a result of the Coronavirus pandemic, whilst your arrangement remains in place, your credit file won't be negatively impacted and any fees and charges accrued during this period will be removed.

     

    To speak to any of the credit reference agencies, they can be contacted using the following details:

    www.equifax.co.uk or 0800 014 2955
    www.experian.co.uk or 0800 013 8888
    www.transunion.com or 0330 024 7574

    Managing your existing payment pause

    Towards the end of your Payment Pause, we’ll contact you to discuss the options that are available to you.

     

     

      I arranged a Payment Pause, but now you’ve told me my account is in arrears, what should I do?

      Your Payment Pause arrangement is forbearance for your situation due to the circumstances of COVID-19, and we’re not waiving any rights we may have under the agreement.

       

      Under the Consumer Credit Act, we’re required to send you statutory notices through the post, as your account will technically show in arrears and could accrue fees and charges during this period. These notices will have titles such as ‘Default Notice’, ‘Notice of Sums in Arrears’ and ‘Notice of Default Sums’ – please ignore these if you have received them during your Payment Pause, there is no need for you to do anything.

       

      Whilst your Payment Pause remains in place, any fees and charges accrued during this period will be removed. Your credit file won’t be negatively impacted as a result.

       

      Once your Payment Pause comes to an end, you’ll need to start your repayments again. We’ll contact you prior to the end of your Payment Pause to discuss options. If repayments are not made and you fall into arrears, fees and charges will accrue and your credit file will be updated to reflect this. Any subsequent notices received should not be ignored.

      I am coming to the end of my Payment Pause, what options are available to me?

      Towards the end of your Payment Pause, we’ll contact you to discuss the options that are available to you.

       

      If we hold a valid email address for you, we’ll contact you at least 10 days before your Payment Pause is due to end. The email will invite you to complete an online form, where you’ll be presented with three options to repay the amount deferred during your Payment Pause:

      • Spread the amount due from your Payment Pause equally over 6 months and restart your regular monthly payments at the same time
      • Spread the amount due from your Payment Pause equally over 12 months and restart your regular monthly payments at the same time
      • Return to your regular monthly payments and discuss the amount due from your Payment Pause in 3 months’ time.

      To complete the online form, you’ll need to have a few details to hand, these are:

      • Your agreement number
      • Your vehicle registration number
      • Your normal Direct Debit amount
      • The number of monthly payments you paused
      • The date your next monthly payment is due
      • Based on your individual circumstances, if the options presented are not suitable, you can ask us to call you to discuss the best way forward.

      If we don’t hold an email address for you, don’t worry, a member of our team will call you to discuss the options available seven days before your Payment Pause is due to end.

       

      If you chose to spread the value of suspended payments over a period of months, we may need to ask for information about your current income and expenditure. This is to help make sure you can afford the increased monthly payment and the repayments are tailored to your individual circumstances. If you've already completed an income and expenditure review with another financial services provider recently, we may be able to use this for our assessment of your motor finance agreement with us.

       

      If you’d rather speak to us about the options available, you can also request a call back on the online form.

      Free and independent advice

      You can get free independent help and advice from several sources, including:

      StepChange Debt Charity

      Get free debt advice online for as long as you need.
      Go to StepChange

      National Debtline

      Free and independent debt advice over the phone and online.
      Go to National Debtline

      Money Advice Trust

      National charity, helping people across the UK to tackle their debts and manage their money with confidence
      Go to Advice Trust

      Citizens Advice Bureau

      Network of independent charities offering confidential advice online, over the phone, and in person, for free.
      Go to Citizens Advice Bureau

      Money Advice Service

      A free service provided by the Money and Pensions Service delivering impartial guidance that’s backed by government.
      Go to Money Advice Service

      Pay Plan

      A family-owned company providing free, simple debt advice backed by unions, employers, banks and debt advice groups.
      Go to Pay Plan