Why Choose a Law Firm for Motor Finance Claims

In the wake of the Financial Conduct Authority’s (FCA) statement regarding the mis-selling of agreements, individuals who believe they have been affected are increasingly seeking advice on how to claim financial redress. While there are a number of tools online that have made it simple for people to submit complaints directly to their lender, there are distinct advantages to choosing Barings Law in handling motor finance claims.

We explore the benefits of opting for legal representation in handling your motor finance claim.

Legal Expertise

Law firms specialising in motor finance claims have an in-depth understanding of the relevant laws and regulations. This knowledge is crucial in navigating the complexities of the claims process and ensuring that the claim is presented effectively. By choosing Barings Law to represent you, it can give your claim the best chance of success.

Challenging Lender Denials

Approaching the lender directly does not guarantee a favourable outcome. In fact, one of the FCA’s reasonings for investigating finance agreements stems from growing concerns that lenders are unjustly rejecting mis-selling claims.

If a lender denies any wrongdoing, Barings Law has the expertise to pursue this in greater detail if we believe there is reason to do so. This ensures that your claim is not dismissed without proper consideration.

Multiple Approaches to Claims

Barings Law has the ability to explore all available routes for claiming compensation. If there is no evidence of any undisclosed commissions on your finance agreement, it doesn’t mean your claim is invalid. There could be an option to submit an affordability complaint, meaning the lender did not perform adequate affordability checks or offer reasonable adjustments to your finance agreement putting the individual at risk of financial hardships.

Handling of the Process

One of the key benefits of engaging Barings Law is that we handle the entire claims process on your behalf. This includes drafting and sending all correspondence, engaging in communication and negotiations with the lender, and, necessary, with your consent, issuing the claim in court.

This means that you can avoid the need to commit your own time to work on the progress of your claim. Our legal experts will handle all aspects of the process, allowing you to focus on continue living your life.

Unaffected by the FCA’s 9-Month Pause

The FCA has implemented a 9-month pause for motor finance claims if done as an individual. This means that lenders are not required to make any decisions on claims during this period.

Barings Law have issued thousands of motor finance claims to court, which means that we have thousands of clients who are unaffected by the pause and there is no unnecessary delay to the claims process.

Disclaimer: Please note that this information is based on claims that have already been issued. We cannot guarantee the same outcome for new clients. However, we will remain transparent throughout the process and inform you of any changes that may affect your claim.

No-Win No-Fee and Cost Coverage

Barings Law operates on a no-win no-fee basis, meaning that you only pay legal fees (deducted from settlement) if your claim is successful. This removes the financial risk associated with pursuing a claim and provides peace of mind to clients. In the event that the claim is unsuccessful, you avoid having any financial loss.

We also bear all the costs incurred before the claim is settled, including court costs. This means that you do not have to worry about upfront expenses and can focus on the claims process without financial constraints.

Maximising Settlement Amount

At Barings Law, we have a thorough understanding of what constitutes a fair and reasonable settlement amount for motor finance claims. By representing you, we can help you attain the highest possible settlement and identify if a low offer has been made. This ensures that you receive the compensation you deserve.

Strong Negotiation Skills and Relationships with Lenders

Barings Law has established strong relationships with lenders and remain in constant communication with them in terms of negotiating claim settlements. This has enabled us to already secure large settlements for our clients regarding our affordability complaint route as we continue to work on discretionary commission arrangements claims.

Our ability to communicate efficiently with lenders and build relationships could add a benefit in reaching a favourable outcome for your claim.

You can submit your no-win no-fee claim to us by clicking on the button below. This will take you to our claim page where you can find more information about Motor Finance and fill in our quick and easy form to start your claim with us.

If you require further information, check out our News and Insights page for more motor finance related articles, or you can contact our team on 0161 200 9960.