Money worries
Introduction
The cost of living crisis is the current impact on money due to very high inflation. A lot of people with be affected the cost of living crisis, with many having to make difficult choices about how they spend their money.
We’re here to help and support you
If you’re struggling due to the cost of living crisis, and you need help and support with paying your Auto Money Motor Finance hire purchase agreement, then it is important that you contact our friendly Customer Support Team as soon as possible by:
Phone: 0800 197 9090 (lines open 8am-7pm Mon-Fri, and 9am-3pm Sat)
Email: support@ammf.co.uk
Post: Customer Support Team, AutoMoney Limited, Unit 3 Brooklands, Moons Moat Drive, Redditch, Worcestershire, B98 9DW
Once we understand your individual circumstances, we will be able to work with you to help you find a solution. Our friendly Customer Support Team are ready to support you with tailored options that may include a temporary payment arrangement for example.
Any payment arrangement will be affordable and sustainable – we will never expect you to pay more than you can afford.
Please be aware it may take some time to discuss your circumstances on the phone, depending on the help and support you need. We will need to ask questions about your circumstances; however, you can let us know at any time if you do not feel comfortable.
The impact of missed payments
We understand that these are difficult times and missed or late payments may happen.
Missed or late payments are reported to your credit file and will remain on there for up to six years.
You should be aware that other lenders will be able to see missed or late payments on your credit file and may take this into consideration when deciding whether to offer you credit. Missed payment may be an indication that you are in financial difficulty which could lead to your application being rejected or, if accepted, at worse rates that in if you hadn’t missed payment.
Ways we can help and support you
At AutoMoney Motor Finance we're more than just a lender; we're here to support you through life's challenges.
Our forbearance options are designed to help you through difficult times, providing affordable and sustainable payment options.
Whether you’re facing unexpected short or long term changes, our dedicated, friendly Customer Support Team is ready to work closely with you.
Explore the range of solutions we may be able to offer you here.
Voluntary termination
Under the Consumer Credit Act 1974 you have certain termination rights which you can find on page 2 of your hire purchase agreement.
If you are facing long term financial difficulties, it may be in your best interest to voluntary terminate your agreement with us and hand the vehicle back.
The implications of a voluntary termination depend upon factors including the price the vehicle was purchased for, the amount you have paid towards your hire purchase agreement and any deposit you paid.
If you would like find out more about a voluntary termination, request a copy of your hire purchase agreement, or just discuss your account in general, then please do not hesitate to contact our friendly Customer Support Team by:
Phone: 0800 197 9090 (lines open 8am-7pm Mon-Fri, and 9am-3pm Sat)
Email: support@ammf.co.uk
Post: Customer Support Team, AutoMoney Limited, Unit 3 Brooklands, Moons Moat Drive, Redditch, Worcestershire, B98 9DW
Independent help and advice
We understand this can be a stressful time, but you’re not alone – there are people who can help and things you can do. You can get free, non-judgmental and independent help from a number of organisations.
You should first visit MoneyHelper’s Debt Advice Locator Tool at Debt Advice Locator | Syndication | MoneyHelper.
You can also call MoneyHelper on 0800 138 777 or WhatsApp message +44 7701 342744.
Furthermore, the Financial Conduct Authority has information on its website for customers of financial products, including motor finance. The information can be found at Dealing with the financial impact of rising costs of living | FCA.
Finally, if you need free, impartial support regarding your mental health, we encourage to seek help through on of the following organisations that can help:
Mind
Phone:03001 233393 web: www.mind.org.uk
Samaritans
Phone:116 123 web: www.samaritans.org
For details or various services that can offer you further non-financial help and support, please refer to our leaflet here.
Watch out for scams
We are aware of scams involving individuals being offered loans for an advanced upfront fee by organisations posing as a representative of financial services organisations. At Auto Money Motor Finance, we do not charge up-front fees for our loans and would not approach you directly in this way. If you think you have been a victim of such a scam, please contact your bank immediately and report it to Action Fraud.