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Re: Car finance mis-selling
Guidelines and timescales for the process (from the link above)
Quote:
If you used finance to buy a car, motorbike or van between 6 April 2007 and 1 November 2024 you may be owed compensation.
Many lenders didn't properly tell customers important information about their agreements. This broke laws and our rules in force at the time. That’s why we've launched a scheme to make sure people are compensated.
There will be a set-up period so lenders can prepare.
If you took out your loan before 1 April 2014, the scheme will start on 31 August 2026.
If you took out your loan from 1 April 2014, the scheme will start on 30 June 2026.
Some lenders may start looking at claims before these dates.
Quick read: your next steps
If you complain before the scheme starts, your case will be assessed, and any compensation paid, sooner. You don't need to use a claims management company or law firm.
If you don't complain, lenders will contact anyone potentially owed money within 6 months of the scheme starting.
If you've already complained and had an acknowledgement from your lender, you don't need to do anything.
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