FAQs

• You can email us at customerservices@arklefinance.co.uk
• Alternatively, you can call us on 01933 824500
• It can also take up to 10 days to process a change of Direct Debit, so please ensure there is sufficient time before your next payment falls due.

• You can email us at or call us on 01933 824500
• NB: if your payment date is due within 5 working days, any changes requested would commence from the following months payment.

• You can email us at customerservices@arklefinance.co.uk or call us on 01933 824500
• NB: if you are intending to settle the agreement, please ensure that you quote your agreement number if making a bank transfer.
• If your payment is due within 5 working days, it will be too late for us to stop the Direct Debit being collected. Please contact your bank to do this.

If the settlement quote provided, includes a payment that subsequently is returned unpaid, then you will remain liable for that payment.

• You can do this by emailing us at customerservices@arklefinance.co.uk or call us on 01933 824500
• Customer Services are open Monday to Friday 9.00am to 17:00pm.

• You can do this by emailing us at customerservices@arklefinance.co.ukor call us on 01933 824500
• Customer Services are open Monday to Friday 9.00am to 17:00pm.

• Yes, if you settle your loan with us at the point of sale.
• Follow the “How can I get a settlement quote” process to obtain a quote which will include our bank details for payment.
• Any third party purchasing the asset should make payment to us in cleared funds into our bank account.
• Please note you are not permitted to sell the vehicle or asset and simply continue to make monthly payments. You must pay in full within the time period specified in the settlement quote.
• Remember to cancel your Direct Debit. Please contact your bank to do this.
• Upon receipt of the agreed settlement payment, our financial interest held over the vehicle or asset with CDC/HPI will be removed.

• As Arkle Finance provide regulated finance agreements to both Consumers and Businesses, we are required as per the Consumer Credit Act 1974 to provide our customers with several regulatory notices, which clarify the current status of an agreement and actions that are needed to remedy any contractual issue.
• There are several documents that we must send to you, irrespective of whether we have suppressed our general arrears correspondence, these letters still need to be sent to you and below explains exactly what each one means:

Default Notices (section 87 CCA 1974)

• Final opportunity for a regulated loan customer to remedy any payment breach.
• Issued when an agreement reaches the equivalent of 3 months in arrears and when a customer hasn’t entered a repayment plan.
• Customer has 16 days to remedy (pay the outstanding arrears).
• Should the customer either fail to pay the arrears or enter a repayment plan within the time specified, the legal status of the agreement will “Terminate”.
• If less than 1/3^rd of the total amount payable under the agreement has been paid, repossession action in respect of the vehicle or asset may commence without further notice.
• A calculation is also provided to determine the amount required by you, to reach the halfway point of the loan to enable you to Voluntary Terminate the loan and return the vehicle.
• A customer will lose their right to Voluntarily Terminate if action is not taken by the remedy date.

Termination Notices

• Confirms that the legal status of a non-regulated loan has terminated.
• Issued when an agreement reaches 3 months in arrears and where a customer hasn’t entered a repayment plan.
• The legal status of the agreement immediately Terminates without any remedy period or earlier if a breach of the agreement arises or any form of insolvency etc.
• Recovery action, in respect of the vehicle or asset can be taken immediately.

Annual Statements

• An annual statement sent to a regulated loan customer annually.
• Sent on the anniversary of their agreement starting, detailing the previous 12 months repayment performance and current balance outstanding.
• Will be sent every 12 months, until the agreement concludes

Notice of Default Sums

• Sent to all regulated agreements where a default sum had been incurred, e.g. a late payment interest or charge has been incurred.
• The notice must be sent even if the default sum has been paid.
• All outstanding charges must be paid in order for the agreement to complete and title to the vehicle or asset to be passed on to the customer.

Notice of Sums in Arrears

• The letter is sent when an agreement reaches the equivalent of 2 full contractual instalments.
• An FCA guidance notice is also included with the letter providing debt counselling service and support.
• Customers are advised to contact us at the earliest opportunity, so that the appropriate assistance can be provided.

Credit Referencing agency warnings are also provided in the letter should the payment breach not be resolved.

Subsequent Notice of Arrears 

• This letter is sent 6 months after the initial Notice of Sums in Arrears.
• It will only be sent if the arrears amount outstanding from the original notice has not been remedied.

• It will depend on what type of agreement you have with us as to how you can do this. Please contact us by emailing us at Customerservices@arklefinance.co.ukor call us on 01933 824500 to discuss the options available to you.
• Customer Services are open Monday to Friday 9.00am to 17:00pm.

• Please contact us on 01933 824501 or email theteam@arklefinance.co.uk to discuss a possible novation. Please note, there is a fee payable for this service, you will be responsible for keeping all contractual payments until the matter is finalised and you will have to provide various documentation to us.

• Please contact us on 01933 824501 or email theteam@arklefinance.co.uk to discuss the position. It is unlikely that you will be released from your obligations under any personal guarantee provided, but we would like to consider the full facts with you before a final decision can be made.