A rising number of UK motorists are reassessing previous car finance agreements due to concerns regarding discretionary commission arrangements (DCA) and potential unfair lending practices.
The Financial Conduct Authority (FCA) has identified these practices and is investigating their potential impact. Individuals who believe they may be entitled to a claim have recourse options.
If you utilized car finance between April 6, 2007, and November 1, 2024, and your lender included a discretionary commission arrangement (DCA), a high rate or commission, or a contractual tie that was not adequately disclosed, you may have grounds for a claim.
You have the choice to pursue your claim independently at no expense – there are free avenues available – or you can opt for assistance from a legal professional if preferred.
Although solicitors cannot endorse their services over self-representation, some individuals find it beneficial to have expert help to save time and effort. Ultimately, the decision is yours, and both routes are valid.
Complex Law, a legal practice based in Liverpool, suggests that it might aid consumers in understanding if they overpaid and, where applicable, determine if they are eligible to make a claim.
Tom Blanchfield, the director of Complex Law, stated: “We are dedicated to supporting consumers in seeking fair outcomes. Often, regular individuals are left battling against influential institutions; we are here to level the playing field.”
You might be eligible for a refund if:
– You financed a car in England between April 2007 and November 2024 (subject to final FCA regulations)
– The finance was arranged through a dealership or broker (PCP, HP, etc.), not directly with a bank or finance company
– Your agreement involved a discretionary commission arrangement (DCA) or another undisclosed commission that unfairly inflated the loan cost.
Mr. Blanchfield added: “The car finance scandal has revealed years of systemic unfairness and how easily consumers can be exploited. At Complex Law, we are ensuring consumers are not left behind, using technology and determination to challenge the lenders and ensure genuine accountability.”
Complex Law aims to streamline the car finance claims process, making it prompt, transparent, and accessible, helping consumers grasp their rights and, if warranted, seek reparation.
The firm has a longstanding presence in the UK extending back over 30 years. In 2023, new legal and commercial leaders assumed control and rebranded the practice to focus on consumer protection and contemporary service delivery.
Since the leadership transition, the staff count has surged from two to 17 within a year, with intentions to create around 20 more positions.
Complex Law underscores its emphasis on clarity, trust, and simplicity. Communication is designed to be free of jargon, with transparent fees and no hidden costs, and cases are managed by regulated legal professionals from inception to conclusion.
The firm highlights its achievement of Lexcel accreditation for practice management and Cyber Essentials Plus certification for cybersecurity. It also notes receiving over 4,000 five-star Trustpilot reviews in the past six months, reflecting positive client experiences.
For drivers pondering potential claims, consumer lawyers recommend reviewing agreements, assessing potential commissions, and consulting with a regulated professional for tailored advice.
Complex Law clarifies that its objective is not to make unrealistic promises but to offer a clear, cautious pathway for those seeking clarity. The firm stresses that it does not charge upfront, and all costs and fees will be transparently explained beforehand, including any cancellation charges.
You may determine eligibility in under 60 seconds by answering a few straightforward questions. Terms and conditions apply, and eligibility is contingent on individual circumstances and finance agreement specifics.
If your case seems viable, Complex Law can elucidate your options, outline probable timeframes, and detail its fees. You will interact with a knowledgeable individual who can assist you through each step, keeping you informed throughout.
The FCA estimates average compensation payouts around £700 per agreement; however, results can vary significantly, and some cases may not result in compensation at all. The amounts are not guaranteed.
Any potential refund or redress is indicative and hinges on individual circumstances, the lender, agreement specifics, evidence availability, and any claim time limits.
Complex Law Ltd is regulated by the Solicitors Regulation Authority 515276. Complaints can be made to the Financial Ombudsman Service free of charge, or redress may be available at no cost through the FCA’s proposed consumer redress scheme. Recovery amounts are subject to individual circumstances.
Charges adhere to the Solicitors Regulation Authority’s Fee Cap. If you opt to terminate engagement with Complex Law before the claim conclusion, you may be liable for a reasonable fee for work done on your behalf. Additional charges, such as VAT, may apply. Visit the website for comprehensive terms and conditions.