MSE News: Supreme Court to rule on hidden car finance commission mis-selling this week

MSE_Petar

The Supreme Court will reveal its judgment on hidden car finance commission claims on Friday 1 August at 4.35pm, it's been announced.

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'Supreme Court to rule on hidden car finance commission mis-selling this week'

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Dukeyboy2024

Hi, I have received a response from DCA enquiries and it states the following

"We can confirm that a DCA was in place between us and the credit broker relating to your finance agreement"

"As there was a DCA in place, we have forwarded your email to our Commissions department to log your complaint. You will receive a formal acknowledgement letter in the post, and we will begin to investigate the commission arrangement that was in place."

Do I need to do anything further, or do I just wait?

Thanks in advance

Nasqueron

Dukeyboy2024 said:

Hi, I have received a response from DCA enquiries and it states the following

"We can confirm that a DCA was in place between us and the credit broker relating to your finance agreement"

"As there was a DCA in place, we have forwarded your email to our Commissions department to log your complaint. You will receive a formal acknowledgement letter in the post, and we will begin to investigate the commission arrangement that was in place."

Do I need to do anything further, or do I just wait?

Thanks in advance

Nothing, this case is about hidden commission not DCA. The FCA said they'll issue an update on DCA within 6 weeks of this ruling, which hopefully will be overturned in any sane world 

MyRealNameToo

Dukeyboy2024 said:

Hi, I have received a response from DCA enquiries and it states the following

"We can confirm that a DCA was in place between us and the credit broker relating to your finance agreement"

"As there was a DCA in place, we have forwarded your email to our Commissions department to log your complaint. You will receive a formal acknowledgement letter in the post, and we will begin to investigate the commission arrangement that was in place."

Do I need to do anything further, or do I just wait?

Thanks in advance

Wait, in 6 weeks the FCA will make an announcement of what their course of action is going to be. Likely some form of redress programme to start next year unless the Supreme Court throws the whole lot out. 

Organgrinder

MyRealNameToo said:

Dukeyboy2024 said:

Hi, I have received a response from DCA enquiries and it states the following

"We can confirm that a DCA was in place between us and the credit broker relating to your finance agreement"

"As there was a DCA in place, we have forwarded your email to our Commissions department to log your complaint. You will receive a formal acknowledgement letter in the post, and we will begin to investigate the commission arrangement that was in place."

Do I need to do anything further, or do I just wait?

Thanks in advance

Wait, in 6 weeks the FCA will make an announcement of what their course of action is going to be. Likely some form of redress programme to start next year unless the Supreme Court throws the whole lot out. 

I think that's correct.