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MSE News: Car finance redress scheme to face legal challenge
The major car finance mis-selling redress scheme, confirmed by the financial regulator last month, is now facing a legal challenge over claims that it will leave drivers "out of pocket". The group behind the case says the scheme could still launch while the level of redress is reviewed, but this remains to be seen.
In the meantime, MoneySavingExpert.com founder Martin Lewis says the most important thing is to get your complaint in now – which you can do for FREE using our DIY car finance reclaim tool.
Read the full story:
Comments
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According to the FCA, the Upper Tribunal has confirmed it will hear legal
challenges to the motor finance scheme after four commercial parties
challenged payouts.The FCA has confirmed that there is a possibility that the scheme is overturned which could be a blow to the 12.1million car finance agreements eligible for the redress scheme. A tribunal will hear the case between
either December 14 and 18 or January 16 and 26, with a judgement
expected in the following months.0
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