Member Info for Halifacts

I saw that. Somebody posted the link a week or two ago. The fact is no DCA was ever offered by Moneybarn. The reason might be lucky, but it never happened!

"The Group has had over 400 decisions from the FOS relating to motor finance commissions, all of which were

in Vanquis’ favour. The Group has also successfully defended 63 out of 66 Vehicle Finance commission court

cases."

You'd think the solicitors, who now have to pay a chunk of the FOS fee, would catch on. Their lack of due diligence is still costing VBG.

Annoying that it seems to drop a little when these mini thresholds are tested, as you put it. But if it gives an upward moving saw tooth pattern that'll do for me as a LTH.

Doesn't read like bust to me. Reads like expectation. Can't see this having much of an impact either way. We'll know in just a few minutes.

I wouldn't respond to you either.

It's clear that TMS have not learnt anything since their £45000 fine from the SRA for their scattergun approach https://www.lawgazette.co.uk/news/dorset-firm-slapped-with-45000-fine-for-claims-failings/5117394.article . Clearly their modus operandi is quantity, not quality, presumably because it has worked for them in the past.

The £45000 fine 6 months ago was supposed to serve as a "credible deterrent to both the firm and the wide [sic] profession, including other firms working in this sector" but when it hasn't even worked on TMS themselves, what chance is there that such a pitiful fine will work in the rest of sector? There is definitely a mismatch of teeth between the FCA and the SRA.

Let's hope that the high court sees it for what it is and slaps them with the full £4.5 million plus costs.

They're are strict rules about when directors can buy. We had a profit warning less than three weeks ago and now we have the FY announcement. I hope, once today is done with, we might see some buys.

S&D I take your point but I believe this new management is much more transparent.

Holding for the long term win...we hope.

Standanddeliver, it has nothing whatsoever to do with that. It is due to anticipated exceptional costs throughout 2024 to deal with expected claims due to the FCA vehicle finance variable commission scandal.

Did you even read it?

ITK24 no fault of Vanquis or Moneybarn. Moneybarn did everything right in this case. VBG is an unfortunate indirect victim of the FCA investigation in this case.

The blame lies squarely with the CMCs. It is not in their interest to claim from Moneybarn, not in their customers' interest, and most definitely not in investors' interest.

I only hope some of the CMCs read the news release and cross Moneybarn off their list. In the meantime VBG has done the right thing for a change and given an early heads up that there will be additional costs associated with dealing with the futile claims.

Thankfully, giro121, that's a big fat "No".

There is a statement on VBG's news page from 17 Jan stating that Moneybarn has only ever paid fixed commission (never variable or discretionary). Finally - an FCA investigation that'll have to jog on by.

Is somebody forgetting what year it is?

My personal view? The quarterly trading statement is due soon and the half year update was a shocker that knocked the share price down from 181 to 128.

One or two might be getting itchy feet as the new board might actually tell it how it is. Could mean bigger shifts - just not sure which way!

Hx - were you around in 2017? If you were then you will know why the board is being cautious when it comes to bigging everything up. If you read the publications on the Vanq site you'll know that the company is going through another technical transformation and we hope lessons have been learned from last time. That is why it is inappropriate to try to forecast performance.

With regard to 'abysmal' performance in the sector, I have provided the names of three companies in the sector - one is delisted from LSE and the other 2 are down over 99% from pre-covid price. Vanq is down approx. 45% on pre-covid. If you can provide examples of FCA regulated subprime or near-prime lenders who have performed well on the LSE from pre-covid (I used 28 Feb 2020 for comparison) then I'd love to know who they are. Not saying they don't exist but please, when making comparisons in the sector, provide specific examples.

Glad you picked up on that, bigpunt.

I could not disagree more with Hx on this one. It's an 'adapt or die' sector following ridiculous over-regulation by the FCA that created a bandwagon for claims management companies to jump on. Where are Morse's? Where is Amigo? Did you invest in NSF?

The conditions have been intolerably challenging and Vanquis are clearly evidenced to be adapting by shutting down those parts of the company that cannot compete in the over-regulated space and focussing the business in areas which are known to be profitable.

I'm sure the board are more concerned with turning the company around and getting it into good long term profitability rather than trying to artificially up the share price for the sake of impatient investors.

Ooh risky!! Careful buddy - there are some who use this forum who neither understand, nor engage in, humour.

Kudos to you for replying on the correct thread though...

Is he going to change his name to Barrievanq?

199k credit cards, the remainder being loans (Annual report dated 20 April, page 9, paragraph 3).

You've done it again Bazza. Just let it silently rise, you shout it's at 205 and before you know it, we're back at 197.

All these tools we have available to use calculating trends, averages, etc. etc. Pointless. As soon as Barrie comments I'm selling, then buying back a day or two later! Missed it this time!

:-(

Well the £2 didn't last long. Hoping we're on a general upward trend - I'm in it for the long haul and I agree that it is currently undervalued. 2-3 years I'm hoping for a good return.