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Information for SME Customers in Financial Difficulties

We're here to help

If you are currently experiencing financial difficulty, we want to help you meet your financial obligations. 

 

Close Brothers Motor Finance encourages you to make contact with us as soon as you are experiencing financial difficulties or anticipate you may be in the future. If we don’t hear from you, we will make contact with you once your account goes into arrears (normally within 10 business days) to understand why a payment may have been missed. 

 

Once contact is made, Close Brothers Motor Finance will be able to explain the options available which may help resolve the situation.

What we may need from you

Where financial difficulties arise we may request from you such as:

  • Income and expenditure
  • Your current cash flow position
  • Your pipeline of sales 
  • Details of other outstanding borrowings
  • Any other information that we consider appropriate.

Contact us

Please contact us on 01 644 8900 or email us at info.ie@closebrothers.com. You may also contact the Money Advice and Budgeting Service for free, impartial advice.

Appeals

In the event that you are not satisfied with the arrangement proposed by Close Brothers Motor Finance, you have the right to appeal against this decision. You may appeal against this decision within 14 days of receiving the decision. 

 

Where an appeal is made, Close Brothers Motor Finance will assess the appeal within 15 business days of receiving it. The outcome of the appeal will be provided in writing directly to you or to an appointed representative. 

 

You can make an appeal by writing to us at: 

Close Brothers Motor Finance, Appeals Department, Unit 18 Northwood House, Northwood Business Campus, Santry, Dublin 9

Impact on credit rating

An account going into arrears may impact a borrower’s access to credit both with Close Brothers Motor Finance or other credit providers. Arrears will also affect your credit rating.

Charges

We reserve the right to impose any fees or charges on you as set out in the contractual agreement between you and us. Depending on your circumstances, the following charges may apply:

 

Charge description Charge amount
Documentation fee€75  
Completion fee€75
Repayment referral€70
Modification or re-scheduling of agreements€70
Unpaid Direct Debit/Return €25.39
Collection letter charges€3.50

Important information 

This information is without prejudice to our legal and regulatory obligations and our legal rights to enforce the terms of the loan including taking possession of any security relating to any such loan. 

 

For the avoidance of doubt, this document is nonbinding and it does not confer any contractual rights or obligations. This document is intended for information and guidance purposes only and it may be amended, withdrawn or revised at any time at Close Brothers Motor Finance’s sole discretion

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