11/04/2024
The FCA has extended a pause on complaints as it continues its investigation into the motor finance industry.
When the regulator confirmed this work, they paused the 8-week deadline for motor finance firms to provide a final response to relevant customer complaints.
The 8-week deadline for firms to respond to motor finance complaints involving a DCA has been paused. Under the FCA proposals, firms will not have to issue a final response to DCA complaints until after 4 December 2025 at the earliest.
If you would like Belmond & Co to investigate your complaint to determine if there was a Discretionary Commission arrangement associated to the issue of your credit agreement, you can submit your details via our website form or you can contact the lender directly yourself.
If you would like Belmond & Co to assist, please complete our form and sign up page.
We will contact the finance company and ask them to supply all the relevant documents and contracts on your behalf to see if determine if a discretionary commission model or fixed fee commission was in place, what the interest / APR rates of your credit agreement were, what the commission amount was and what interest rate you could have been offered at the time as an alternative.
If we review the documentation and we do not think you have a compensation claim to make we won’t charge our fee and we will close your complaint.
We would only charge our fee if the claim is successful, and compensation is awarded, and we charge between 18% - 36% including VAT depending on the value of the compensation you are awarded.
Start today here: https://belmondclaims.com/motor-finance-claims/
