Barclays Response

[Deleted User]

I think we shall have to agree to disagree on this across all threads.  You have your opinion and I have mine, it's clear neither will change the others mind.  Apologies for the IFA comment it was a little flippant, believe me I am not a point scorer / ego person. Let's just give our opposite views and people can make their own minds up.

DullGreyGuy

The FOS have said they had over 20,000 complaints on hold as at the start of May in relation to DCA, you are free to add to that number if you want but it could very easily be the case that all of those are effectively scraped and the FS companies are instructed to review the complaints they received using the new guidance from the FCA in September or whenever the FCA finally come up with their final report. 

If you value your time you'd be sensible waiting until the FCA guidance is published and consider your next steps after that. 

[Deleted User]

It is a counter balance of time and piece of mind.  Consumers want to know their claim is where it needs to be.  Regardless of what happens in September, I believe the FOS is the best place for it now if they have a final response.  I agree, as said before, that the FOS may well ask firms to relook at all their 20,000 (more by then) referrals once the review is complete, but that is not uncommon with any referral. If the individual wants to take a small amount of time now to give them piece of mind until September (or beyond) I think that is worth it, you don't, but if they were happy waiting they probably wouldn't have asked the question in the first place.  The FOS have had more than 10,000 complaints on hold for up to 2 years as they trod on egg shells waiting for the FCA to act, poor things. At least those consumers are where they need to be.

jediknight49

My response from Barclays was it's final letter regarding the matter. They consider the complaint closed. If not happy, go to FOS.

Appreciate people's comments and thoughts on the matter. There does seem to be a few opinions. I'll put a form into the FOS and play the waiting game. No harm done by me doing this.

[Deleted User]

Your individual choice as a consumer,  you have a final response and are entitled to refer it to FOS if you aren't satisfied with the response.  All online forms for FOS now I believe.  Best of luck!  Let us know how you get on to help others.

sleepyjones

The reply i got from Barclays : 

"Thanks for getting in touch to find out if a discretionary commission arrangement was in place on a motor finance agreement you held with us.

You’ve already provided all the information we need and we can confirm that a discretionary commission arrangement did apply to your motor finance agreement.

What happens next

We’ll log a complaint for you which will be back dated to when you first contacted us.

We’ll be in touch soon by email or post acknowledging the complaint.

Historic motor finance discretionary commission arrangements are being reviewed by the Financial Conduct Authority (FCA).
...
"

[Deleted User]

It’s good to see that they are logging complaints for non DCA in addition to DCA. Although they haven’t mentioned if there is any commission it is very likely there is, 98% have some type of commission from data I have seen. This way you will get a response to a commission complaint, hopefully the amount and type too, and can choose what to do with it if you remain unsatisfied. If it transpires that only DCA is relevant after the FCA review you still have litigation options, using a law firm or on your own depending on your confidence with money claims in court. Many firms are progressing non DCA claims but there is a stay on some of those once they reach court atm due to appeals (not the FCA review). 

jediknight49

I have had an update from Cyldesdale this evening. Lot of waffle about the court case and compensation scheme. What I did note was the following....

Your complaint will not be covered by the proposed FCA compensation scheme. This is because consumers who have already logged their complaint with the Financial Ombudsman Service will not be included in the scheme. We will progress the motor finance commission complaints we have as soon as we are able to.

I wasn't aware that was the case with the scheme. So I'm assuming that the standard redress won't be finding it's way to me because I escalated it to the FOS.
I'm tempted to lodge another case with Cyldesdale before the cut off and see what happens.

dunstonh

I wasn't aware that was the case with the scheme. So I'm assuming that the standard redress won't be finding it's way to me because I escalated it to the FOS.

The redress method should be the same whether it is handled via the scheme or via the complaint method.   However, whilst there is a remote possibility that those who couldn't wait and fired off early could get less (as the scheme goes further than the courts), I doubt the FCA would allow it.

I'm tempted to lodge another case with Cyldesdale before the cut off and see what happens.

What do you think that would achieve?    Your file already shows a complaint raised.   A new one just creates additional work, only for you to be told that you already have a complaint in process and they will disregard the new one.