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(Standard European Consumer Credit Information)
1. Contact Details
Creditor: Address: Telephone number(s): E-mail Address: Credit intermediary: Address:
V12 Personal Finance Limited
20 Neptune Court, Vanguard Way, Cardiff, CF24 5PJ 02920 468900 firstname.lastname@example.org NXPower UK Ltd 270c Queensway South, Team Valley Trading Est, Gateshead, Tyne & Wear, NE11 0SD
Fixed Term £1,135.44
2. Key Features of the credit product
The type of credit: The total amount of credit:
This means the amount of credit to be provided under the proposed credit agreement or the credit limit.
How and when the credit will be provided. The duration of the agreement: Repayments: The total amount you will have to pay: The proposed credit will be linked to the supply of specific goods or the provision of a service. Description of goods: Cash Price:
We will pay the amount of the credit to the intermediary (the supplier of the goods/service) on your behalf within 14 days of receipt of goods.
36 monthly payments of £41.22 starting one month after the later of date of this agreement or date of supply and subsequent payments due on the same date of each following month.
3. Costs of the credit
The rates of interest which apply to the credit agreement. Annual Percentage Rate of Charge (APR).
This is a total cost expressed as an annual percentage of the total amount of credit. The APR is there to help you compare different offers. Related Costs
Charges for using a specific payment method: Any other costs deriving from the credit agreement:
Non Direct Debit payments - £3.00 (This means you will be charged this amount for all payments made by cheque, debit card or cash including any amount paid in settlement of your loan agreement)
Returned direct debit/cheque - £30.00 Default Notice charge - £50.00
Costs in the case of late payments: Consequences of missing payments:
Missing payments can have severe consequences and will make obtaining future credit facilities more difficult. Legal proceedings may be brought against you for recovery of the outstanding debt and our reasonable legal expenses.
4. Other important legal aspects
Right of withdrawal:
You have the right to withdraw from the credit agreement before the end of 14 days, beginning with the day after the day you receive a copy of the signed agreement. Where the goods have been delivered or taken away at point of sale you will have 30 days to repay V12 Personal Finance Limited. Where the goods have not yet been dispatched or delivered, the agreement will be cancelled and you as the customer must contact the retailer to agree an alternative method of payment.
You have the right to repay all or part of the credit early and at any time. If your application is declined on the basis of information received from a credit reference agency, we will advise of this and provide you with the details of the credit reference agency used. You have the right, upon request, to obtain a copy of the draft credit agreement free of charge.
Early repayment: Consultation with credit reference agencies: Right to a draft credit agreement:
(a) Concerning the creditor
5. Additional information in the case of distance marketing of financial services
Registration number: The supervisory authority:
(b) Concerning the credit agreement
V12 Personal Finance and V12 Retail Finance are trading styles of V12 Personal Finance Limited (Co Registration no. 05418233) Your Loan agreement is regulated by the Consumer Credit Act 1974, and we are licensed by the Office of Fair Trading under Licence No. 571030
The Law taken by the creditor as a basis for the establishment of relations with you before the consultation of the credit agreement. Language to be used in connection with the credit agreement:
(c) Concerning redress
English language will apply in any communication from us to you.
Access to out-of-court and redress mechanism.
We aim to provide you as the customer with the highest standards of service. However there maybe occasions when we do not get it right or fail to meet your expectations. If this happens we encourage you to contact us so that we can put matters right. You can write to us at 20 Neptune Court, Vanguard Way, Cardiff, CF24 5PJ. In the unlikely event you are still dissatisfied, you are entitled to refer your complaint to the Financial Ombudsman Service at South Quay Plaza, 183 Marsh Wall, London E14 9SR
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Terms and Conditions
1. Definitions "We/Us" Means V12 Personal Finance Limited and its successors and assignees. "You/Your" means the Borrower named on the front of this agreement "the Supplier" means the business from whom You purchased the goods and services set out in Other Financial Information within this agreement. 2. Loan Agreement i. We agree to lend You and You agree to borrow from Us the Amount of Credit set out in the Financial Information section within this agreement on the terms set out in this agreement. ii. You authorise Us to pay to the Supplier the Amount of Credit set out in the Financial Information section within this agreement. 3. Payments i. You must ensure that all repayments are received by Us on the due date. ii. You must pay to us the Total Amount Payable by the Monthly Repayments on the Monthly Repayment Dates. iii. Prompt payment by you is essential to this agreement, as late payment may entitle us to terminate the agreement under clause 5 below. 4. Charges The charges shown within this agreement are the current rate of charges as at the date of this agreement. The amount of these charges is subject to change. We will notify You of any changes that take place and we will give you at least 14 days notice in writing of any change. We will issue a notice advising you when charges are being applied to your account; these charges will fall due for payment as at the date of this notice
Customer Internal Complaints Procedure
We aim to provide you as the customer with the highest standards of service. However there may be occasions when we do not get it right, or fail to meet your expectations. If this happens we encourage you to speak to us so that we can put matters right. We would like: • To receive your complaint to understand your concerns. • To resolve your complaint as quickly as possible. • To make sure you are satisfied with how we have handled the complaint. Your initial concerns should be sent in writing to: Customer Services Manager, V12 Personal Finance, 20 Neptune Court, Vanguard Way, Cardiff, CF24 5PJ You may also contact our Customer Service team on 02920 468 900 if you prefer. If we cannot resolve your complaint straight away, then we will: • Send you a written acknowledgement within five working days of receiving your complaint. • Send you a written update after two weeks. • Send you a full written update detailing where we are after four weeks. If we have been still unable to resolve the matter after eight weeks we will write to you again,with either a final response letter detailing our findings, or if we are unable to provide a final response, a letter detailing why we are not in a position to provide a final response.
5. Early Termination by Us If any of the following occurs: In the unlikely event you are still dissatisfied, you are entitled to refer i. You fail to make pay a repayment within 28 days of its due date; or your complaint to the Financial Ombudsman and we will provide details ii. any of the information which You provided to us prior to entering into this agreement of how to do so. This should be done straight away, but must be within six was untrue in a material respect; or months of the date of our final response. iii. Any steps are taken by or against You for your bankruptcy or any composition, You must complete the internal complaints procedure before agreement or arrangement is entered into by You with your creditor(s) or a bailiff commencing dealings with the Ombudsman. or other officer, attaches, seizes or impounds any of your goods pursuant to a court order then We may serve on You a default notice as required by the Consumer Credit Act 1974 and require You to pay promptly after we demand the Total Amount Payable together with any other sums due from You under this agreement and less the total of the Monthly Repayments already paid and any other repayments made by You under this agreement and less (on payment) any rebate of interest that You are entitled to under the Consumer Credit Act 1974. 6. General i. You must notify Us promptly in writing of any changes to Your name, address or bank details. ii. If we give You any concession or indulgence in relation to the repayments due from You or the other terms of this agreement, this shall not prejudice or act as a waiver of our strict rights under this agreement. iii. We may transfer any of our rights or liabilities in connection with this agreement to a third party without giving notice to You. If We do so, this will not alter Your obligations or Your rights, including Your rights under the Consumer Credit Act 1974. We are hereby authorised by You to disclose information to any such party having a right to such information regarding You. iv. This agreement will be governed by English law. v. Any alterations or variations of this agreement made by you will not be effective. V12 Personal Finance and V12 Retail Finance are trading styles of V12 Personal Finance Limited (Co Registration no. 05418233) Use of your Information In assessing Your application We will search the files of one or more credit reference agencies that will supply Us with credit and identity information as well as information from the electoral register. The credit reference agencies will record details of our searches regardless of whether or not Your application proceeds.These details will be seen by other organisations carrying out later searches. We will also disclose details about the conduct of Your agreement and how You manage it to one or more credit reference agencies and this information may be used by other lenders to assess other credit applications by You. We may use a credit scoring or similar technique in deciding whether to accept your application. Personal data relating to Your agreement will be held by Us and shared with the Supplier. Your information will be used from time to time for marketing purposes by Us or companies within our group.You have the right to stop Us from contacting You for this purpose or sharing Your details with others for this purpose by writing to us at 20 Neptune Court, Vanguard Way, Cardiff, CF24 5PJ Your information may also be used by Us for the purposes of debtor tracing and prevention of money laundering. You have the right to access to Your personal records held by credit reference agencies and We will supply their names and addresses upon written request to Us at 20 Neptune Court, Vanguard Way, Cardiff, CF24 5PJ You have the right, on payment of a statutory fee, (which was £10 on 1st September 2011) to receive a copy of the information We hold about You if you apply to Us in writing to the above address. Use of Associated Records Before entering into this agreement We may search records at credit reference agencies which may be linked to Your spouse or partner or other persons with whom You are linked financially and other members of your household. For the purpose of any application for this agreement You may be treated as financially linked and You will be assessed with reference to “associated records”. Where any search or application is completed or agreement entered into involving joint parties You both consent to Us recording details at credit reference agencies and as a result an “association” will be created which will link your financial records. Your associate’s information may be taken into account when a future search is made by Us or any other lender unless You file a “disassociation” at the credit reference agencies.
This guarantee should be retained by the Payer
THE DIRECT DEBIT GUARANTEE • This Guarantee is offered by all banks and building societies that accept instructions to pay Direct Debits. • If there are any changes to the amount, date or frequency of your Direct Debit V12 Personal Finance will notify you 10 working days in advance of your account being debited or as otherwise agreed. If you request V12 Personal Finance to collect a payment, confirmation of the amount and date will be given to you at the time of the request. • If an error is made in the payment of your Direct Debit, by V12 Personal Finance or your bank or building society, you are entitled to a full and immediate refund of the amount paid from your bank or building society. - If you receive a refund you are not entitled to, you must pay it back when V12 Personal Finance asks you to. • You can cancel a Direct Debit at any time by simply contacting your bank or building society. Written confirmation may be required. Please also notify us.
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Fixed-Sum credit agreement regulated by the consumer credit act 1974
V12 Personal Finance Limited, 20 Neptune Court, Vanguard Way, Cardiff, CF24 5PJ Telephone 02920 468900
Authorisation Number: CRFC1669772 0141 427 6323 Home telephone No: Employer telephone No: 0141 300 2243 1 Years 9 Months Time with employer:
Borrower: Mr. Alex Paterson 11 Canting Way, Glasgow, Lanarkshire, G51 2QH Address: Employer: BMI Healthcare Unit 4 Cameron Court, Cameron Street, Hillington Park, Glasgow, Renfrewshire, G52 4JH Credit Intermediary (supplier of goods/services): 714 (NXPower UK Ltd) Description of goods: Computer Equipment Financial Information Cash price: Deposit: Amount of credit: Service fee: Interest Total charge for credit Total amount payable
Order number: 1669772 - 186602
£1,195.20 £59.76 £1,135.44 £0.00 (To be paid to v12finance.com) £348.48 (Interest rate: 10.23% per annum) £348.48 (APR 19.90%) £1,543.68
Timing of Payments: 36 monthly payments of £41.22 starting one month after the later of date of this agreement or date of supply and subsequent payments due on the same date of each following month. Interest is calculated and debited to your account at the commencement of the agreement, at the rate per annum shown above, on the amount of credit provided.
We will pay the Credit Intermediary (supplier of goods/services) on your behalf within 14 days of your receipt of goods. Charges: Other charges will be payable under this agreement in the following events: Returned direct debit/cheque £30.00 Collections administration £15.00, payable each month your account is overdue. Default Notice charge £50.00 Non Direct Debit payments £3.00, on payments (including settlements) made by cheque, debit card or cash. We may charge you a fee for a copy of information as set out in “Use of your information” in the terms and conditions of this agreement. We will also charge you all reasonable costs incurred in the enforcement of our rights under this agreement, including fees payable to our tracing/collections/legal agents. Missing payments can have severe consequences and will make obtaining future credit facilities more difficult. IMPORTANT - PLEASE READ CAREFULLY TO FIND OUT ABOUT YOUR RIGHTS You have the right to repay this loan early in part or in full at any time as set out in section 94 of the Consumer Credit Act 1974. If you wish to repay this loan then you should contact V12 Personal Finance Limited at the address above, or on 02920 468900 to make the necessary payment. You have the right to withdraw from this agreement within 14 days (starting the day after you sign it) by giving notice to V12 Personal Finance Limited at the address above. If you withdraw you will need to repay to us the amount of credit within 30 calendar days of the date of withdrawal. Please contact us on 02920 468900 to make these arrangements. Under the terms of the Consumer Credit Act 1974 you may have the right to sue the supplier of goods/services or us (or both) if you have received unsatisfactory goods/services paid for under this agreement. Under section 77b of the Consumer Credit Act 1974 you have the right to receive, on request and free of charge, at any time throughout the duration of this agreement a statement of account showing the date and amount of each repayment made on your account. If you are dissatisfied with any aspect of our service or our adherence to the terms of this agreement you should contact us directly at the address above, setting out the detail of you complaint. If you remain unhappy with the handling of your complaint you have the right to complain directly to The Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London, E14 9SR V12 Personal Finance Limited is authorised by the Office of Fair Trading, Fleetbank House, 2-6 Salisbury Square, London, EC4Y 8JX, to provide consumer credit to customers under license number 571030. IMPORTANT – USE OF YOUR INFORMATION Please read “Use of your information” and “Use of your associated records” in the terms and conditions of this agreement before you sign, as by signing you are agreeing to this use and disclosure of your information.
Instruction to your Bank or Building Society to pay by Direct Debit
To: Bank Name: Bank Address: Name of Account Holder: Mr. Alex Paterson 80-49-57 Sort Code: 01063850 Account Number: Originators Identification number: 419920 1669772 Originators Reference Number:
Please pay V12 Personal Finance Limited Direct Debits from the account detailed in this instruction subject to the safeguards assured by the Direct Debit Guarantee. I understand that this instruction may remain with V12 Personal Finance Limited and, if so, details will be passed electronically to my Bank/Building Society. By signing this agreement I agree to make payments by Direct Debit from the bank account shown in this section and confirm that I am authorised to do so.
This is a Credit Agreement regulated by the Consumer Credit Act 1974. Sign it only if you agree to be legally bound by its terms.
Signature of Borrower
E-SIGNed 2011-12-22 by Alex Paterson
Date of signature
Signed on behalf of V12 Personal Finance Limited
Date of Signature 22 Dec 2011 (This will be the date of the agreement)
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This action might not be possible to undo. Are you sure you want to continue?