A rising number of drivers in the UK are reassessing their previous car finance agreements due to concerns over discretionary commission arrangements (DCA) and potential unfair lending practices. The Financial Conduct Authority (FCA) has brought attention to these practices and is examining their possible impact, offering avenues for those who believe they might have a claim.
If you utilized car finance between April 6, 2007, and November 1, 2024, and your lender incorporated a discretionary commission arrangement (DCA), a high rate or commission, or a contractual tie that was not adequately disclosed to you, you could potentially have a claim. You have the option to pursue your claim independently at no cost, with free resources available, or enlist the help of a legal professional if preferred.
While solicitors cannot endorse their services over self-representation, some individuals find it beneficial to have professional support to streamline the process. Ultimately, the decision rests with you, and both approaches are valid. Complex Law, a legal practice based in Liverpool, offers assistance to consumers in understanding potential overpayments and determining if they have a valid claim.
Tom Blanchfield, the director of Complex Law, expressed their commitment to assisting consumers in seeking fair outcomes and addressing the imbalance when facing powerful institutions. Eligibility for a potential refund includes financing a car in England between April 2007 and November 2024 through a dealership or broker, wherein the agreement involved a discretionary commission arrangement or undisclosed commission that inflated the loan cost unfairly.
Complex Law aims to facilitate the car finance claims process by ensuring it is swift, transparent, and accessible, helping consumers comprehend their rights and seek redress where applicable. The firm has a longstanding presence in the UK, with recent leadership changes focusing on consumer protection and improved service delivery. Following these changes, the firm’s staff has grown significantly, with a continued expansion plan.
Emphasizing clarity, trust, and simplicity, Complex Law provides jargon-free communication, transparent fees, and regulated legal experts handling cases from initiation to conclusion. The firm has achieved recognition for practice management and cybersecurity measures, along with positive client feedback on Trustpilot.
For individuals considering a claim, consumer lawyers advise reviewing agreements, assessing potential commissions, and consulting with a regulated professional for tailored advice. Complex Law stresses transparency in fees and processes, with no upfront charges and clear explanations of all costs, including cancellation fees.
Eligibility for a claim can be determined in under a minute by answering a few simple questions, with terms and conditions applying based on individual circumstances and finance agreements details. If the case appears viable, Complex Law will outline options, timeframes, and fees clearly, with ongoing support throughout the process.
The FCA estimates an average compensation of around £700 per agreement, but outcomes vary, and not all cases result in compensation. Refunds or redress depend on individual circumstances, lenders, agreement specifics, evidence availability, and claim time limits.
Complex Law Ltd is regulated by the Solicitors Regulation Authority and offers avenues for complaint resolution and redress. Charges adhere to regulatory guidelines, and termination of engagement may incur reasonable fees for work done. Additional charges, such as VAT, may apply, and full terms and conditions are available on the website for reference.