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Can i make a PCP claim in Ireland
By Jamie Scott
If you are a car finance owner in northern Ireland you are probably wondering whether or not you can make a PCP claim within Ireland as different countries can follow other laws and legislation.
Within the last 5 years, there has been an uptick in UK car finance owners making more and more complaints due to hidden and incentivized commission structures that were found due to an FCA finding.
Car finance owners within The UK find themselves on the verge of thousands of pounds in compensation due to these hidden commission structures.
This can leave many PCP car finance consumers in Northern Ireland and the Republic of Ireland wondering whether they are entitled to claim back PCP compensation.
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Can I make a PCP claim in Northern Ireland?
Yes, as northern Irish PCP consumers are regulated via the FCA (financial conduct authority) this enables Northern Irish drivers to use solicitors within the UK when claiming back car finance.
The FCA regulates the finance industry within the UK, making sure that finance consumers are treated fairly, and are not in any way being scammed by the lender they regulate.
If a finance consumer in the UK was scanned by a UK company offering some sort of financial product then the Consumer would be able to report them to the FCA and make a possible claim via the FCA’s website.
The FCA can help resolve most financial disputes between consumers and their financiers.
HOW DO I KNOW IF MY CAR FINANCE IS REGULATED BY THE FCA
If you can locate your finance agreement that signed for, at the top of the page if should have “regulated by the consumer credit act 1974”.
This statement should be located at the top of the page, in bold and underlined.
The consumer credit act of 1974 is a piece of legislation regulated by the FCA.
WHAT IS THE CONSUMER CREDIT ACT OF 1974?
Amended in 2006 the act regulates consumer hire agreements and consumer credit.
It is a law that gives UK consumers protection on financial products.
If a financial product is not as marketed then the Consumer has a right to complain to FCA.
CAN I MAKE A PCP CLAIM IN DUBLIN OR THE REPUBLIC OF IRELAND
Yes as anyone can peruse a PCP car finance claim for free by contacting their lender and macking a dispute.
However, if you wanted to use a solicitor based in the United Kingdom It might be harder as the UK’s finance industry is regulated by the FCA whereas the republic of Ireland is regulated by the Central bank of Ireland.
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