Confusing response from Mann Island Finance

keljsoh1968

Your enquiry relates to the rules recently implemented by the Financial Conduct Authority for handling complaints about discretionary commission arrangements. Those rules apply only to agreements that are regulated by the Consumer Credit Act 1974 (the CCA). As your agreement is not regulated by the CCA, the rules made by the FCA don’t apply.  We’ve therefore not logged your enquiry as a complaint.

Hoenir

Was your agreement unregulated ? Will say as much within the documentation. 

FormerMotorFinanceWorker

What type of agreement was it? Personal Contract Hire and interest free finance weren't included: PCP or HP are the loan types affected. Was it taken out after 2007 and before 2021?

dunstonh

keljsoh1968 said:

Your enquiry relates to the rules recently implemented by the Financial Conduct Authority for handling complaints about discretionary commission arrangements. Those rules apply only to agreements that are regulated by the Consumer Credit Act 1974 (the CCA). As your agreement is not regulated by the CCA, the rules made by the FCA don’t apply.  We’ve therefore not logged your enquiry as a complaint.

The FCA took over responsiblity for debts covered under the CCA in 2009.   It did not take over unregulated loans or loans that pre-date it taking over.

Some forms of motor finance or arrangements are not covered by the CCA.