ECO Scheme remediation FAQs

What is the relationship between LeasePlan, ALD Automotive and Ayvens? LeasePlan was acquired by ALD Automotive on the 22nd May 2023 and both companies have been rebranded as Ayvens.What has happened? We’ve written to you to let you know about errors we’ve identified in relation to our Employee Car Ownership (ECO) Scheme credit agreements. The Consumer Credit Act 1974 applies to your ECO credit agreement and requires us to send statements to you at least every 12 months. Because we didn’t send you any annual statements, you do not have to pay any interest to us that became due from the date we were required to send the first statement up until the date that you received the letter correcting the issue or when the agreement has been terminated. You also do not have to pay any default charges you may have incurred during that period.What agreement dates are in scope? Agreements from 1st January 2017 up until present.When did LeasePlan/Ayvens first discover this issue? LeasePlan/Ayvens discovered the issue in November 2024 as part of routine document audits.How did this error happen? Customers with contracts that should have received annual statements were incorrectly classified on the system.Has the FCA been informed? Yes, the FCA has been kept fully informed, and we have worked closely with them to agree our redress plan.Why has it taken so long to communicate this to customers? To identify the whole population of customers affected and ensure that this cannot happen again moving forward, we have thoroughly investigated the matter internally to ensure that all redress due has been correctly identified and allocated.Is there any compensatory interest being paid? The extent and calculations used for redress have been developed in consultation with the FCA. Our approach to redress calculation does not attract compensatory interest on top of the refund, considering the type of breach of CCA and with regards to the relevant legislation in force.  There may be exceptions where compensatory interest is payable, where applicable your letter will state the compensatory interest amount including any tax deductions. Ayvens do not provide any individual tax advice. For Tax information please see [the Gov website.](targetBlank:http://hmrc.gov.uk) How has the redress been calculated? Redress has been calculated from the date we were required to send the first statement up until the date that the customers receive the letter correcting the issue or the agreement has been terminated.Can the redress be paid to a third party or a different bank account? No. The redress amount is normally only paid into the account whose name we hold on our systems, however we are aware of situations where this is not possible. Please contact us if you are impacted by this.Why have LeasePlan/Ayvens sent correcting statements? For live agreements, it is a legal requirement for LeasePlan/Ayvens to send the corrective statements. For terminated agreements we are only required to send a letter of explanation and a refund of redress due.Why haven't I received my remediation letter yet? If you haven’t received your letter, please bear with us. We're carefully working through all our impacted customers to ensure they are able to receive their payment. If you're an impacted customer, we'll send you your letter shortly.Is there a deadline date to receive my payment? While there's no deadline date at the moment, the link/QR code to claim your payment will expire in four months from the date the letter was sent to you. If your link/QR code did expire, you'd need to contact our Customer Remediation Team to get an new link/QR code sent out to you. As such, we'd encourage you to action your letter swiftly so that you benefit from the payment as soon as possibleHow can I contact LeasePlan/Ayvens? You can contact us via email at CustomerRemediation@Ayvens.com or by phone on 0344 493 5472.How do I submit a complaint? If you’re not satisfied with any of the above and want to raise a complaint, please visit our [Complaints Code page](targetSelf:/en-gb/complaints-code/) and complete the form, or contact us on 0345 250 0000.