It is of utmost importance that any VWFSIL customer with financial difficulties advises us of their concerns as soon as possible. This assists VWFSIL to provide an immediate review of the Company's Agreement.
VWFSIL will usually contact you within 10 working days of entering into arrears of your Agreement.
Financial difficulties may affect your credit rating and therefore it is in your interest to engage with us about any arrears or financial difficulties.
The following is a broad step plan for when a Company is in financial difficulty during their Agreement with VWFSIL:
Step 1: Contact VWFSIL on the occurrence of any arrears, or when they anticipate future financial difficulties.
Step 2: VWFSIL will contact you within 10 business days and will require information around your circumstances. It is mandatory to provide any requested information accurately. The Company will have 10 business days to return this information to VWFSIL. If you cannot adhere to the VWFSIL timelines, please consult with us as soon as possible.
Step 3: VWFSIL will then make an assessment based on the information provided to it.
Step 4: If necessary, VWFSIL may issue documentation around an alternative to the conditions in the Agreement.
~ Promptly inform VWFSIL in case of financial difficulties; do not overlook your problems.
~ Talk to an independent financial advisor as soon as possible.
~ Submit to VWFSIL all necessary documentation to ensure prompt, fair and a transparent alternative arrangement as appropriate.
~ Follow up with the VWFSIL representative to clear any confusion on any documents that you might have.
~ Stay in touch.