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Car finance mis-selling: Martin Lewis explains what you must do now
The Independent
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2 days ago
Car finance mis-selling: Martin Lewis explains what you must do now
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00:00
So, if you know that you had a discretionary commission arrangement, because that's the one the templates were about,
00:06
then when the redress scheme is launched, you will be sent a letter telling you if you're due compensation,
00:11
and then you don't have to do anything. It will be paid unless you choose to opt out.
00:15
So that's nothing.
00:17
For those where you have made a complaint, but didn't have a discretionary commission arrangement,
00:23
if we just put that second page up there, the regulator still says firms have to consider all those three, is it up?
00:31
All those three different forms of misselling.
00:35
So even if you only said, have I got a DCA, it'll still have to look at the other two types.
00:39
But if you had one of the other two types, and that's how you were missold,
00:43
then they'll write a letter to you and you will need to opt in and say, yes, I would like to be considered for a payment.
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