A rising number of British drivers are reassessing previous car finance agreements following concerns regarding discretionary commission arrangements (DCA) and potential unfair lending practices.
The Financial Conduct Authority (FCA) has flagged these practices and is investigating their possible repercussions. If you used car finance between April 6, 2007, and November 1, 2024, and your lender included a DCA, a high rate or commission, or a undisclosed contractual tie, you may have grounds for a claim.
You have the option to pursue your claim at no cost on your own, as there are free avenues available, or seek assistance from a legal professional if preferred. While 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 legitimate.
Complex Law, a legal firm based in Liverpool, has expressed its potential to assist consumers in understanding potential overpayments and determining if they have a valid claim. Director Tom Blanchfield emphasized the firm’s dedication to aiding consumers in achieving fair outcomes and leveling the playing field against powerful entities.
You might qualify for a reclaim if you financed a car in England between April 2007 and November 2024, arranged the finance through a dealership or broker, and had a DCA or another undisclosed commission that inflated your loan costs.
Complex Law aims to streamline the car finance claims process, making it transparent and accessible to help consumers comprehend their rights and seek redress when appropriate. The firm, with a longstanding presence in the UK of over 30 years, underwent a rebranding in 2023 to focus on consumer protection and modern service delivery under new leadership.
Since the leadership change, the staff count has increased from two to 17 within a year, with plans for approximately 20 additional roles. Complex Law emphasizes clarity, trust, and simplicity in its communication, with regulated legal experts managing cases from inception to conclusion.
The firm has obtained Lexcel accreditation for practice management and Cyber Essentials Plus certification for cybersecurity. It has also garnered over 4,000 five-star Trustpilot reviews in the past six months, reflecting positive client feedback.
For drivers contemplating potential claims, consumer lawyers advise reviewing agreements, considering potential commissions, and consulting a regulated professional for tailored advice. Complex Law stresses its commitment to offering a clear, cautious pathway for those seeking to understand their position without charging upfront fees or hidden costs.
Determining eligibility may take under 60 seconds by answering a few questions, with terms and conditions applying based on individual circumstances and finance agreement specifics. If your case appears viable, Complex Law will explain options, timeframes, and fees clearly, providing guidance through each step while keeping you informed.
The FCA has estimated an average compensation of around £700 per agreement, although outcomes vary, and not all cases may result in compensation. Any potential redress is subject to individual circumstances, the lender, agreement details, evidence availability, and claim time limits.
Complex Law Ltd is authorized and regulated by the Solicitors Regulation Authority 515276. Complaints can be made to the Financial Ombudsman Service or redress may be accessible through the FCA’s proposed consumer redress scheme. Recovery amounts hinge on individual circumstances.
Fee structures comply with the Solicitors Regulation Authority’s Fee Cap. Terminating engagement with Complex Law before the claim’s completion may incur a reasonable fee for work done on your behalf. Additional charges, such as VAT, may apply. For full terms and conditions, visit the website.