Car Finance Reclaim? Barclays Bank

Car finance reclaim

Car finance reclaim- How do we know Barclays mis-sold car finance?

Barclays was named by the Financial Ombudsman Service, as a financial lender who misused DCA’s for car finance agreements which has resulted in many car finance reclaims.

Who are Barclay’s? 

Barclays are one of the UK’s leading specialist providers of car finance. Car finance reclaims against Barclays began to rise after cases of potentially inflated interest rates were uncovered, after the use of discretionary commission agreements was banned.    

Examples of Mis-Selling Car Finance?  

Two test cases were flagged by the FCA probe, after which the Financial Ombudsman Service issued an order for Barclays to pay compensation for using discretionary commission agreements without their customers’ knowledge.  

Have Barclays Prepared for Payouts?  

Barclays has set no provisions aside for car finance reclaims as of yet. They spoke on the matter, saying that the conclusion was ‘unknown, including any potential impact’.  

History of Barclays? 

The history of Barclays can be traced back to John Freame and Thomas Gould. Their business transformed into Barclays bank after they began their business in 1690.  

Why Should you Check your Outgoing Payments?  

You should be aware of your outgoing monthly payments to your provider, if you were not informed that the interest charged could include commission. You should be aware of the options available for you to make a car finance reclaim.

Mis-sold car loans or finance agreements can be overlooked. Therefore, you should always check if you qualify to make a claim.  

Who are My Car Finance Claim? 

My Car Finance Claim is a trading style with Barings Law, a law firm which proudly makes legal representation hassle-free and accessible for everyone. We take on clients on a no-win, no-fee basis. We will fight for your rights.  

How to Claim?  

Claiming with My Car Finance is a simple 3 step process. With just a few details, you can begin an application today. Our team are here to do the rest. We can also contact your lenders and obtain the relevant information to assess the validity of your claim if you don’t have them to hand. 

Start your car finance claim with us today and let our experienced team guide you the rest of the way.  

Click the button below to begin!  

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