What to do it you are dissatisfied with the services you have received from us
We wish to make sure that we resolve any compliant about us that you may have in a satisfactory manner. If you wish to raise a complaint please contact our Complaints Manager using one of the methods in the next section – if you have received this guide because you have already raised a complaint please disregard this step – the remainder of the guide is for your information.
Complaints Manager contact details
Telephone: 01603 703180
Address: Credo Capital Finance, Capital House, Unit I-J Iceni Court, Delft Way, Norwich, Norfolk NR6 6BB
E-mail: [email protected]
Our Procedures
Any complaint verbal or written will be referred to our complaints manager at the earliest opportunity or to a member of the senior management if the complaints manager is unavailable. We will also
- Acknowledge the complaint in writing promptly
- Give details in our acknowledgement letter of the Financial Ombudsman Service
- Make contact to seek clarification on any points where necessary
- Fully investigate the complaint
- Keep you informed of our progress
- Discuss with you our findings and proposed response
You will receive contact from us advising on progress if we cannot respond immediately. We will let you have our final response as soon as possible and not later than eight weeks.
Adviser or Provider
Clients often express dissatisfaction to their adviser about the product provider. We will need to establish whether or not your complaint relates to the advice given, the adviser service or the service or performance of the product provider. If unclear, this must not delay investigation and we will proceed with our own investigation. The complaints manager will review this matter and take the complaint to the provider if appropriate in consultation with you.
Investigation
The complaints manager will establish the nature and scope of your complaint having due regards to the Financial Conduct Authority’s direction:
- Deal with complaints promptly and fairly
- Give complainants clear replies and, where appropriate, fair redress
Eligible Complainants
It is the firm’s policy to treat all complainants the same, however, eligible complainants are legally defined and have additional rights in law that we must acknowledge and adhere to.
The Financial Conduct Authority complaints rules apply to complaints:
- Made by, or on behalf of an eligible complainant;
- Relating to regulated activity;
- Involving an allegation that the complainant has suffered, or may suffer, financial loss, material distress or material inconvenience;
Final response
This will set out clearly the firm’s decision and the reasons for it. If any compensation is offered a clear method of calculation will be shown.
We must include details of the Financial Ombudsman Service in the final response if dealing with an eligible complainant and a regulated activity, we will:
- Explain that the complainant must refer the matter to the ombudsman within six months of the date of this letter or the right to use this service is lost
- Indicate whether or not we consent to waive the relevant time limits.
Complaints Settled within 3 business days
Complaints that can be settled to your satisfaction within 3 business days can be recorded and communicated differently.
Where we consider a complaint to be resolved to your satisfaction under this section, we will promptly send you a ‘Summary Resolution Communication’, being a written communication from us which:
- refers to the fact that you have made a complaint and informs you that we now consider the complaint to have been resolved to your satisfaction;
- We will tell you that if you subsequently decide that you are dissatisfied with the resolution of the complaint you may be able to refer the complaint back to us for further consideration or
alternatively refer the complaint to the Financial Ombudsman Service; - Indicates whether or not the we consent to waive the relevant time limits, (where we have discretion in such matters)
- Provide the website address of the Financial Ombudsman Service; and
- Refer to the availability of further information on the website of the Financial Ombudsman Service.
In addition to sending you a Summary Resolution Communication, we may also use other methods to
communicate the information where:
- We consider that doing so may better meet your needs; or
- We have already been using another method to communicate about the complaint.
Closing a complaint
We will consider a complaint closed when we have made our final response to you. This does not prevent you from exercising any rights you may have to refer the matter to the Financial Ombudsman Service.
Complaints regarding Discretionary Commission Models
Where your complaint is subject to a discretionary commission model, we will acknowledge the complaint.
What next:
Normally, we must provide a response to your complaint within 8 weeks, or let you know that we need longer.
While they carry out their review, the FCA have put in place a pause in responding to customers complaints about discretionary commissions arrangements.
The pause will last, at least, until the 25 September 2024, and will ensure complaints are dealt with fairly by all vehicle finance lenders.
The outcome of the FCA’s review will decide if we need to take any action on these complaints, such as customer compensation.
This pause is limited to only discretionary commission arrangement complaints. There are no changes to the timescales in place for all other complaints.
Financial Ombudsman Service (FOS)
The FCA have also implemented a new rule with regards to The Financial Ombudsman Service, you will now have the right to refer your complaint to the FOS, free of charge within 15 months of the date of your Final Response letter.
This is an extension to the usual 6 months which the FCA introduced to allow them time to complete their review into the historical use of discretionary commission arrangements in the motor industry.
We will co-operate fully with the Ombudsman in resolving any complaints made against us and agree to be bound by any awards made by the Ombudsman. The firm undertakes to pay promptly any fees levied by the Ombudsman.
Contact:
The Financial Ombudsman Service, Exchange Tower, London E14 9SR
Tel: 0800 023 4567 (free for most people ringing from a fixed line) or 0300 123 9123 (cheaper for those calling using a mobile) or 020 7964 0500 (if calling from abroad)
Email: [email protected]
Website: www.financial-ombudsman.org.uk
