Car Finance compensation claim

Speedohoff

Originally had car finance with GMAC (General Motors) and probably have a valid claim. However, they have been taken over by Ally Finance based in the US. Will the ‘new’ ruling apply to global companies outside the UK?

MyRealNameToo

Speedohoff said:

Originally had car finance with GMAC (General Motors) and probably have a valid claim. However, they have been taken over by Ally Finance based in the US. Will the ‘new’ ruling apply to global companies outside the UK?

If you say they have been taken over then they are still the same legal entity just now with a US parent company. 

Unfortunately people are often lax with their wording however and/or dont get the idea of companies being legal entities in their own right and say its been "taken over" when it hasn't, someone has just bought brands or customers but not the company itself.

If you look at your contract it most likely will state the company number of the entity you were borrowing from. Put that number into companies house and it will say if it's still going, what its current name is etc.