The regulator the FCA has today announced its intent to move to an industry-wide mass redress scheme for car finance claims, …
source
The regulator the FCA has today announced its intent to move to an industry-wide mass redress scheme for car finance claims, …
source
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25 comments
Any update(s). I’d be dead before I see a penny if it’s proactive
I put my complaint in against my dealership in 2018 regarding DCA's having spotted the flaw back then. I recieved an email saying they had recieved my complaint and shall be in touch. Get your written complaint in now quoting the agreement numbers, reg of vehicle & make and model. You don't need a claim company to do this given they can charge you up to 30% commission if you win your case, but more importantly, now that Martin Lewis has his finger on the pulse of this, then hopefully payouts will be made without applying for such. However, I suggest you make a formal complaint yourself which is easy by just a letter. Don't be fooled by these claim companies as they are only after your money for doing nothing other than what I've stated here.
Car dealerships were the first ones to mislead the consumers! Do not trust the dealerships, especially BMW Synters Centres
I’ve had finance from 2009 and 2020. Did the complaint forms Martin put out. Got a straight response, and both finance companies have been keeping me in loop and up to date on where things are at. Thank you Martin.
Gosh, a Regulator doing what they are there for.
I've contacted Barringlaw to cancel my claim through them, and they said I can't because of how far it has got! And I'll be fined if I do… does anyone know if this is true?
I would like to see a video about the books you read 😊
10you!
bet it means we all get less tho.
So my lender has admitted a breach of a DCA when I sent the letter out a solid 12 months ago now, so that surely says it all…… I know they appealed some decision, but that seems to be based upon the other type, but anyway far as I’m concerned, a breach is a breach, especially if admitted by email that this was the case of the discretionary arrangement part, hopefully it’s soon enough finally gets passed through, nothing but a scam this finance stuff, good to have the choice, but you don’t half get robbed, 4 months left on mine, gotta be very very confident of a postive outcome for those who’s lenders have admitted to the breach theirselves. Job done. Hope all works out for everyone 👍🏻
I have been told.. I have to wait till 2026
I called the finance company I used and they just said ' We don't pay anything back' then they cut the call How do I go about claiming this back myself Martin? Thank you
I had my former lender write to me encouraging me to request a review of how they managed my account – it gave examples such as did I experience hardship, have you borrow to keep paying etc, so I'm suspecting I was misold. They send another letter yesterday so I rehashed my situation back in 2010 to when I gave up my car. But now I'm going to send another email to enquire if i was paying a the DCA.
Its sad when you pay fees that were hidden from you and get mininum refund. I paid over £10k intrest on Provident and only got £300 back. Very dissapointing
Every time I scroll on facebook now, I get the PCP adverts for this… it's not even ready yet and the vultures are already circling, getting peoples info to try and cash in on someone elses work.
Any more updates on this Martin?
Top Man – Thank you Martin
BMW have confirmed i was on a DCA arrangement. I was young and naive and stupidly signed up for an interest rate of over 12%!
Why won't you tell everyone that energy comes from the National Grid and is paid for already !. Energy companies DO not supply anything.
This is great! What do you do if the company has gone bust? For example, Welcome Finance.
Hurrah!
Ebay, charging multiple times for same service, possibly, will this get seen I wonder, don't know where else to put (send )it. Every combind postage ( 2 or more items one parcel) you pay 2 or more Buyer Protection Fees, massive profits to be made.
What happens if you’ve moved address since you had the finance please?
Martin – i was forced to take Car Finance to secure the price of my car which was on order but delayed (covid chip issue) and had a subsequent price rise. The Car Dealer backed me into a corner. I took the Finance and paid it off after one month but paid over £700. Would i get contacted ???
We need same outcome for the diesel issues