Since 6 April 2007, Tyne and Wear residents have been affected by the flawed car finance practices of Moneybarn, part of Provident Financial. The region's population of approximately 1,127,000 (ONS Census 2021) includes an estimated 106,502 people who may be impacted by these agreements (FCA estimate). Over the years, many individuals in Tyne and Wear have entered into car finance deals with Moneybarn, which were structured under a discretionary commission arrangement (DCA), now identified as potentially unfair. As of 1 November 2024, an estimated £7.5 billion (FCA, March 2026) worth of agreements are affected across the UK, averaging around £829 per agreement for those in Tyne and Wear (FCA estimate).
Moneybarn Finance Agreements in Tyne and Wear
The impact of flawed car finance practices in Tyne and Wear extends beyond just individuals; it affects the entire community. According to FCA estimates, there were 12.1 million eligible agreements (FCA, March 2026) nationwide between April 2007 and November 2024 (FCA estimate). In Tyne and Wear, this translates to a significant number of residents who entered into car finance arrangements with Moneybarn for vehicles such as family cars, work trucks, and other essential transportation needs. The wide range of vehicle types financed under these agreements underscores the widespread impact on local residents.
How to Complain to Moneybarn from Tyne and Wear
For those in Tyne and Wear who believe they have been affected by Moneybarn's flawed car finance practices, it is important to understand how to proceed. Residents can
complain directly to Moneybarn for free without the need for a
claims management company (Moneybarn provides this service at https://www.moneybarn.com/complaints/). This direct approach ensures that individuals receive prompt and efficient responses regarding their complaints.
What Tyne and Wear Residents Should Do Next
Next, Tyne and Wear residents should gather all relevant documents related to their car finance agreements with Moneybarn. These documents may include loan contracts, payment records, correspondence with the lender, and any other paperwork pertaining to the agreement. checking the dates of these agreements is crucial to ensure they fall within the specified period from 6 April 2007 to 1 November 2024.
Residents should then proceed to make a complaint directly to Moneybarn using their dedicated complaints process available on their website (https://www.moneybarn.com/complaints/). This approach is straightforward and ensures that individuals are not subjected to unnecessary fees or complexities often associated with third-party claims management companies. By taking these steps, Tyne and Wear residents can seek fair resolution directly from the lender.
Sources and References
- Office for National Statistics (ONS) Census 2021
- Financial Conduct Authority (FCA) estimates: 12.1 million eligible agreements (FCA, March 2026) (£7.5 billion (FCA, March 2026) total), £829 average per eligible agreement per agreement
How Many People in Tyne and Wear Are Affected?
Based on Tyne and Wear's population of approximately 1,130,000, an estimated 236,119 motor finance agreements in the area may have been affected by discretionary commission arrangements (FCA estimate, proportional calculation). This represents approximately 1.69% of the UK total of 12.1 million eligible agreements.
Moneybarn is registered at Companies House (company number 02766324) with a status of liquidation. The company was incorporated on 1992-11-20. Its registered office is at Athena House, Bedford Road, Petersfield, GU32 3LJ, United Kingdom. The company currently has 2 directors.
Moneybarn Complaint Statistics
According to the Financial Ombudsman Service, Moneybarn received 7 total complaints in H2 2024 BUSINESS. You can check the latest complaint data at the Financial Ombudsman Service.
Moneybarn's FCA reference number is 702773 (status: No longer authorised).