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Car finance situation - business not reachable
Hi. I have gone through the complaints tool with a car agreement that took place several years ago through a local firm. I was told that this company no longer trades and was taken over by Raphael's Bank, I have tried to contact them but to no avail. I contacted the FCA and they told me that they went into administration. Am I right in thinking I cannot go any further with this complaint re: compensation?
Comments
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Sounds like a bit of a dead end but if you name the company then posters may be able to advise whether they were taken over or went into administration, although you might get more specific information over on the car finance board:
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It is believed that the FSCS is available for use if the firm no longer exists. However, the problem is going to be that records will almost certainly not exist, and the FSCS will only pay out with evidence.
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 -
I have the actual documents showing the payments. It was through a company in South West Wales, quite small, so I doubt that anyone will have heard of it unfortunately. It seems quite unfair that each company passed to is now defunct, maybe just bad luck, but seems a lot.
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Is there a way of searching through posts by company name? I cannot see search anywhere.
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Search icon (magnifying glass) is top right on a desktop near the alert bell but I cannot link to it as it's just a pop out bar
You can change the terms after
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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Got it, thanks!
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