Drivers could be owed thousands in compensation as expert says 'contact your lender'

Motorists have been told to 'contact their lender' if they purchased a car on personal contract purchase (PCP) or hire purchase arrangement before a certain date. It comes following a landmark legal case earlier this month.

Drivers who purchased their vehicles on PCP or hire before January 28, 2021, could be owed thousands in compensation. Lenders are now set to be given more time to look at complaints after a court decision opened the floodgates to more claims.

Consumer expert, Jane Hawkes, said that drivers should not be concerned about the application process and are encouraged to take action as soon as possible. She told GBNews: "It might seem daunting but making a claim is quite straightforward.

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"Contact your lender to find out if your finance agreement included a Discretionary Commission Arrangement or other commission arrangements. If you receive a response which confirms your enquiry, usually within eight weeks, lodge an official complaint.

"The Financial Conduct Authority (FCA) will then complete an investigation and review. If you do not have any original documents, you can still make a claim.

"Just ask your lender if any discretionary commission was added to your agreement. They are obliged to provide this information. You can also check your credit report for details of a summary of your credit history."

Brumwish 2024 - buy a gift for a child in need

BrumWish 2024 is Birmingham Live's festive drive to get thousands of gifts to children and young people across our city - among them the homeless, the vulnerable, kids in care, kids who are poorly or struggling, and kids who have little.

There are THREE simple ways to help.

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3. Buy a gift and, even better, rope in friends, neighbours and workmates to do the same, then drop off your pressies at Edgbaston Stadium, Edgbaston Road, B5 7QU on Friday 6th December, 10am - 3pm; Saturday 7th December, 10am - 1pm; or Monday 9th December, 10am - 1pm. Volunteers will be there to help you. Please don't wrap your gifts. You can also drop off by arrangement until Monday 16th December - contact Louise on 07469 979286.

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Making up the Brumwish and Toys4Birmingham gang are Thrive Together Birmingham, Birmingham Playcare Network, Warwickshire Cricket Foundation (the charitable arm of Warwickshire County Cricket Club), Birmingham Forward Steps and BirminghamLive/Birmingham Mail.

Thank you to Amazon UK and the amazing team at the Sutton Coldfield depot for their support.

She added: "This will include details of lenders so you can make contact with them if you think you have been miss-sold car finance. If you can’t remember the finance provider, contact the dealership to see if they can provide this information.

"It’s worth remembering that The Consumer Rights Act 2015 has a fairness test. This means that key terms of a contract need to be crystal clear before purchase and not hidden in any small print.

"If your claim is refused you can refer your case to the Financial Ombudsman Service. There are no costs involved in this.

"You do not need to use a claims management company which will take a good chunk of commission on any compensation paid. If you’re entitled to it, claim it. Don’t be fobbed off."