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DCA - Finance Provider
PaisleyJoe
Posts: 6 Forumite
Hi,
Well, found out who the provider was, Raphael Finance and I believe Paragon Bank took over their loan books in 2018. My car finance was from 2014. Because this bank is now closed, I take it there is nothing I can do in regards to the DCA?
Well, found out who the provider was, Raphael Finance and I believe Paragon Bank took over their loan books in 2018. My car finance was from 2014. Because this bank is now closed, I take it there is nothing I can do in regards to the DCA?
0
Comments
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The company isn't closed yet but is in the final stages of liquidation and anticipated to be dissolved in the next 3-4 months according to the liquidator's report. The FCA have put all claims on hold until at least September so timings dont look good.PaisleyJoe said:Hi,
Well, found out who the provider was, Raphael Finance and I believe Paragon Bank took over their loan books in 2018. My car finance was from 2014. Because this bank is now closed, I take it there is nothing I can do in regards to the DCA?0 -
I contact both of these companies and both denied holding any information. Even contacted the liquidations company.
did anyone have any luck in making a complaint or at least getting the information?0 -
did anyone have any luck in making a complaint or at least getting the information?The complaints process is closed for DCA at the moment. And the complaints process only works for firms currently regulated by the FCA. It is unknown whether the FSCS will consider DCA complaints. The lack of data with closed firms is likely to cause a blocker.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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